'We're delighted that we can share the great results of the company with our people'
Port of Auckland employees will be receiving a one-off Company Performance Bonus following the port's strong recovery in financial performance.
Roger Gray, Port of Auckland CEO, said the bonus reflects their employees' significant contribution to the organisation's recovery.
"We know that it's been a tough year with many family budgets coming under pressure, and we're pleased to be able to provide this one-off bonus to our people," he said in a statement.
$1,125 bonus for 430 employees
A bonus of $1,125 before tax will be granted to over 430 employees in roles with collective employment agreements who joined the organisation before January 1, 2023.
Employees who joined between January 1 and March 31 this year, as well as casual workers who worked between 15 and 30 hours per week, will receive $562.50 before tax.
Bonuses will not be prorated for part-time or casual staff working for over 30 hours a week, according to the port, but a tiered approach will be taken for those who worked for less than half of the financial year.
Port employees with individual agreements will receive a bonus according to their contract, the organisation said, while those who joined after April 1 and casual employees rendering less than 15 hours of work are not eligible for the bonus.
Russell Mayn, secretary of Maritime Union of New Zealand, said this is the first time the port has rewarded staff after a dividend.
"They will feel that they've been duly rewarded for the effort they've put in turning the port around after a disastrous attempt to automate the port under previous management," Mayn told Stuff.
Strong financial performance
The incentive comes as the port posted "strong recovery in financial performance."
"We're delighted that we can share the great results of the company with our people," Gray said. "We've had an exceptional improvement in our results, and we thank all our people for their efforts."
According to its FY23 financial results, the port's strong performance resulted in the almost doubling of the dividend to Auckland Council for the year.
"The Board is pleased to return an improved dividend to the shareholder, Auckland Council, for the year. We anticipate continued improvement over the next three years as we work towards providing a dividend equal to a million dollars a week in FY26," said Jan Dawson, chair of Port of Auckland, in a statement.