ASB has become an accredited Living Wage employer.
This means all workers, including security guards, cleaners and others employed by contractors providing regular and ongoing services, will be paid no less than the Living Wage - currently $21.15 an hour.
ASB executive general manager people Robyn Worthington says receiving the accreditation reflects ASB’s commitment to helping all New Zealanders improve their financial wellbeing.
"We've paid our own employees the Living Wage for some time but we're now extending this to a number of our contractors.
"Our people are what make ASB the organisation that it is – both those we employ directly and indirectly – and making sure they are paid a fair wage is important to us.
"Paying the Living Wage is simply the right thing to do and we're incredibly proud to have this recognised by Living Wage Aotearoa," says Worthington.
Research shows the benefits of paying the Living Wage - workers receiving it have better morale, less absenteeism and greater productivity.
Living Wage Movement Aotearoa New Zealand Accreditation Co-ordinator, Felicia Scherrer, says the Living Wage Movement is gaining momentum and spreading in the corporate sector.
"We congratulate ASB on becoming a Living Wage accredited employer. ASB joins a number of significant corporates in the banking and financial services sector, and more than 170 companies across New Zealand, that are now accredited Living Wage employers.
"We know it’s good for workers, good for business and good for the economy," says Scherrer.
The Living Wage is the hourly rate a worker needs to pay for life's necessities and actively participate in the community. It reflects the basic expenses of workers and their families such as food, transportation, housing and childcare. It's calculated independently, each year, by the New Zealand Family Centre Social Policy Research Unit.