Our benefits

Our benefits

We offer a broad range of benefits which is important to our team.

Reward

Challenger operates two separate short-term incentive (STI) plans: Employee Incentive Plan (EIP) and the Sales Incentive Plan (SIP).  Both STI plans link remuneration outcomes with performance against applicable performance objectives. Eligibility for the SIP is limited to nominated Sales roles within Challenger while eligibility for the EIP covers employees who do not participate in SIP.  Employees have no contractual right to receive an STI award under either of the plans.

MAD

Making a Difference (MAD) is our recognition program that enables our people to thank and recognise each other in a frequent, meaningful and visible manner. The program is designed to recognise contributions that reinforce the attributes of our work environment and core principles.

To facilitate this, people receive an allocation of points to recognise each other, these points have an equivalent monetary value. Employees accumulate points for the recognition they receive and can purchase various items or experiences via an online platform.

Flexible work

For some of us, the opportunity to work flexibly may help to achieve career and life goals. A key component of our diversity and wellbeing strategy is to expand flexible working to make our business more agile and enable our people to achieve a better work and life balance.

We understand that one size may not fit all when it comes to flexibility, therefore we have a range of flexible work options available to meet the needs of our people and our business.  Examples of flexible working arrangements include working part-time, job sharing, flexible start and finish times and working remotely arrangements.  We actively encourage our people to access informal flexible work arrangements to enable them to participate in significant family and personal milestones as they come up during the year.

Career development

Challenger empowers all employees to take ownership of their career.

Our career development process enables our people to self-reflect, identify opportunities and undertake development actions through broad experiences, exposure to leaders and education.

Our roles are broad and deep, allowing us to collaborate across teams which facilitates the interaction with experts and leaders. Our people are offered the opportunity to be involved in a wide range of activities and situations which develop knowledge, skills and experience.

Study assistance

Challenger is committed to supporting the career aspirations of our employees, and where relevant we offer support to enable our people to obtain relevant tertiary qualifications.

Study assistance is designed to support our people in tertiary study which is directly related to their role and/or career development at Challenger.

Challenger may provide you with financial assistance as well as time off to study for and complete exams.

Parental leave

As a discretionary benefit for eligible permanent employees, Challenger provides a period of 12 weeks paid parental leave to primary carers and two weeks paid leave for secondary carers. This is paid in addition to any government parental leave benefit an employee may receive.

In instances where the secondary carer becomes the primary carer, Challenger provides up to 10 weeks paid leave providing the employee takes the leave before the child’s first birthday.

We also offer an additional benefit whereby superannuation guarantee contributions are made for the entire period of parental leave (both paid and unpaid components).

Purchased leave

Challenger provides the opportunity for permanent employees to purchase up to two weeks additional annual leave per year by spreading the cost over equal salary deductions.

This benefit enables our people to book that overdue holiday, plan some fun school holiday activities with the kids, or simply take a break and focus on what is important to them.

Superannuation top up

Additional Superannuation Contributions

Challenger contributes $0.50 to every $1 for employees who make salary sacrifice contributions into superannuation. This is capped at a company contribution of $500 per annum.

We also make superannuation contributions for our employees when they take unpaid maternity leave.

Salary continuance insurance

Company funded insurance premiums

If you are a member our Challenger Custom super plan we cover your Death and Total Permanent Disability (TPD) insurances, plus salary continuance insurance for up to four times your annual salary (limits apply).

Our community

Our Community is a Challenger funded group which acts on behalf of the team in Sydney. Our Community helps people build relationships, feel part of the same team, and work together effectively.

To achieve this, we hold various social and charity events, organise an annual ‘Kids to work day’, host inspirational guest speakers and support the overall wellbeing of our team.

Interstate and overseas offices are not forgotten as they hold their own events to connect with their teams.