Leading diversity

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Leading diversity
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The plan for the next 60 minutes

• Diversity definition and benefits
• Diversity at Westpac
• How we Execute
• Our Focus
• Case Studies

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Who likes jelly beans?

• Choose a jelly bean dont eat it (yet)!
• Think about the colour when you choose it

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Sowhat does your jelly bean say about you?

• WHITE OR BLACK
• Highly structured and organized
• Surrounds are neat
• If given an assignment, wants to know how many
  pages, exact requirements
• Always wants to know the rules
• Memorises things well
• Cant stand sloppy, unorganised people
• Deliberates before making decisions
• YELLOW
• Not usually outspoken
• Always in a state of transition
• Usually smart and innovative, often artistic
• Sometimes confused in making decisions, unsure
  where theyre supposed to be
• Hard workers
• Exciting to be with will try anything
• Spiritual aspects usually important to them
• Look at things with perspective respect others
  opinions

• RED AND PINK
• Courageous and their energy seems boundless
• Smile lots ask others why theyre not smiling
• Genuinely care become involved in others
  problems
• Make decisions with feelings, act on impulses
• On the phone lots, usually listening to others
• Sensitive, enthusiastic friends
• PURPLE
• Flirty and passionate
• Highly creative and highly excitable
• Short attention spans cant stay put for long
  at a time
• Disorganised, often choosing to close doors
  rather than deal with the mess
• Procrastinators who thrive on chaos, enjoy the
  challenges of different problems
• Have a problem dealing with highly structured
  time
• Questioning when given an assignment, asks why
  it must be done a certain way, want to do it
  differently
• Set high standards for themselves and others
• GREEN AND BLUE

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What is diversity?
Dimensions of Difference

• What does it mean at work?
• People can expect to work in an inclusive culture
  where they are valued for the individual
  qualities and perspectives they bring to the job,
  leading to a more innovative and productive
  business environment.
• What does it mean for leaders?
• Diversity capable leaders draw on the differences
  within their team to capitalise on diversity in
  style and approach and help each individual
  achieve their potential. They spend time coaching
  their people on how to embrace difference and why
  it is important

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Diversity is good for business
Capturing the economic, social and cultural
dividends from valuing diversity in employees,
customers and suppliers can offer a sustainable
competitive advantage
Offers greater employee engagement leading to
improved productivity and profitability
Better understanding of the needs of current and
potential customers
Delivers sustainable value for shareholders
Enhances reputation in the community as a trusted
organisation that does the right thing
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Diversity at Westpac
What we want to be
To be one of the worlds great companies for
diversity and flexibility
To have a workforce profile that delivers
competitive advantage
To leverage the value of diversity for all our
stakeholders
To be a truly inclusive, barrier free workplace
To role model and be recognised as an innovator
in diversity practice
What this means
Women in Leadership
Indigenous Employment
Age Balance
Accessibility
Where we focus
Cultural Mix
How we do it
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How we Execute
Board Nominations Committee Ted Evans (Chair)
Group Diversity Council Gail Kelly (Chair)
Diversity Flexibility Team
Business Divisions
Employee Action Groups
HR CoEs
Corporate Affairs Sustainability
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Our Diagnostic Process

• Annual Staff Perspective Survey - over 90
  response rate measures engagement, culture and
  leadership
• Annual Diversity Survey 50 response rate for
  inaugural survey focused on all areas of
  diversity
• Focus Groups with employees from all areas of
  the Group to take a deeper dive into survey
  results
• Employee Action Groups designed to provide
  networking opportunities and business input
• Ad hoc employee feedback - employees provide
  feedback on our People Policies by contacting our
  HR Help Desk
• Exit interview data and case management data
  analysis - we regularly analyse what employees
  leaving the organisation tell us about their
  experience at The Westpac Group.

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Flexibility in the Workplace
FROM
TO

• 43 of people (36 of men and 48 of women)
  engage in flexible working
• The most used forms of flexibility are
• 17 work part-time
• 14 work from home occasionally (used twice as
  much by males than females)
• 4 of respondents work from home regularly
• 12 have flexible start and finish times
• While work/home balance is a desired value for
  both men and women, it is not currently achieved
  by many
• 58 of employees have personal or life-stage
  needs that require flexibility in the next 1.5-3
  years

• Redefine flexibility to include well being and
  workability
• Help employees identify whats important to them
  and remove any barriers to workforce
  participation
• Have role models and celebrate flexibility in
  senior roles to improve the perception of
  flexibility
• Mainstream flexibility and improve leader
  capability to support flexibility

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Our Approach
High impact in the short term but likely
unsustainable
Low visible impact in the short term but
creates sustainable culture change
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Superannuation on Unpaid Parental Leave

• Australia's first major corporation to pay
  superannuation on unpaid parental leave
• Pay up to 39 weeks of superannuation - on top of
  the super contributions we pay during paid
  parental leave (13 weeks)
• Industry-leading initiative that helps reverse
  retirement savings gap experienced by employees
• The average woman today on retirement has just
  45,000 in her super account, compared with the
  average male who has 130,000
• Women who take career breaks to have children
  have approximately 26 less in their super than
  women who don't
• Will be worth an additional 72,000 at retirement
  to employee earning 55,000pa who has two periods
  of parental leave from age 28

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Women In Leadership
FROM
TO

• 63 of our workforce is female
• Strong employment brand for women and reputation
  for flexibility
• Market leading policies but some inconsistency
  in application
• Strong gender mix in junior and middle
  management, weaker at senior management level
  but making progress
• Unique Womens Markets Business positioning

• A Clear target of winning more than our share of
  the best women graduates each year
• Workforce better reflects the diversity of our
  customers
• Every individual has the opportunity to reach
  their full potential
• 40 of our senior leaders are women in 2014
• innovative policies
• clear objectives for gender diversity
• continuing succession planning, mentoring,
  networking and career development
• refreshing our leadership programs for women

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Questions?
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Additional Slides
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Women in Leadership other initiatives

• Introducing gender targets into our graduate
  recruitment program
• Reviewing succession plans for gender balance to
  ensure enough women are being represented
• Enforce guided distribution by gender and work
  pattern for performance and pay review
• Working with our recruitment providers to ensure
  we see more quality female candidates presented
  on short lists
• Ensuring for internal recruitment there are
  quality female candidates on short lists and
  females involved in interview and selection
  panels
• Further reviewing our promotion and selection
  processes for equality of opportunity
• External market mapping and relationship building
  with key female talent outside our organisation
• Extending/converting mentoring into sponsorship
  where executives take ownership of career
  progression of key talent
• Reverse mentoring where women share their
  experiences and challenges with senior leaders
• Including diversity and inclusion as a critical
  leadership competency