Workers from the Pacific Islands arriving in Australia to address labor shortages are utilizing their quarantine period to enhance their financial skills. During the mandatory 14-day quarantine in Queensland, these workers are completing ANZ's MoneyMinded program.
Up to 500 Pacific Island workers, who will earn significantly more in Australia than at home, are expected to complete the financial education program this year. MoneyMinded aims to help participants make informed financial decisions, including budgeting, saving, and sending money back to their families.
ANZ collaborates with Powerpac, a provider for the Australian Federal Government’s Pacific Labour Scheme, which addresses labor gaps in regional areas. Mark Bennett, ANZ Head of Agribusiness, highlighted the importance of such programs: “Our Agricultural industry... has a heavy seasonal labour requirement that’s filled by a balance of domestic, backpacker and overseas work programs."
Bennett emphasized the role of the Pacific Labour Scheme and Seasonal Worker Programme in addressing labor shortages amid travel restrictions. He stated that "the relationship and protocols with our Pacific neighbours is seen as a win-win," benefiting both Australia's agricultural sector and the workers' communities.
Despite advancements in technology and automation expected to reduce reliance on physical labor over time, Bennett noted that manual labor remains essential. Remittances sent back home can constitute about 25% of a household's disposable income.
ANZ has also waived online International Money Transfer fees for customers sending money from Australia and New Zealand back home. In partnership with Powerpac and the Pacific Labour Scheme, ANZ supports businesses committed to fair treatment of workers.