WESTPAC GROUP WOMEN IN LEADERSHIP PROGRAM May 2013
Westpac Banking Corporation ABN 33 007 457 141.
Our vision for diversity at The Westpac Group “Our aspiration is to create a workplace where the best people want to work. It is a vital part of our vision to be one of the world's great companies, helping our customers, communities and our people to prosper and grow. We need to ensure that we have an environment where true talent shines, enabling our people to be the best they can be.�. Our aim is to be a leader in the community promoting and celebrating diversity
Presentation Title | March 2012
2017 – Diversity & flexibility is a critical part of our People Strategy Vision
To be one of the world's great companies for diversity and flexibility helping our customers, communities and people to prosper and grow
Mission
To develop employee confidence and capability to embed inclusion, diversity and flexibility into our workplace culture
Our Value Proposition
Innovative thought leaders, working in partnership with the business to design and implement best practice diversity solutions, sustainable change and positive momentum. We focus on measurable and commercial results
2017 Themes
Ensure we remain Strong
Drive deep and enduring customer relationships
Grow in a targeted Way
Radically simplify products and processes making it easier
Pull together as one team
Values
Key Outcomes
Gender
Accessibility
LGBTI
Age
50% of Women in Leadership by 2017 (42% in 2013)
Greater disclosure and improved engagement
Greater disclosure and advancement for LGBTI
Lifestyle & Career Planning for Prime of Life employees
Flexibility
Indigenous
Mainstream workplace flexibility
100 Indigenous employees in 2013
Culture Leverage for customer outcomes
Common where possible. Customised where critical. How we will achieve them
How we will measure progress
Diagnostics
Events and Sponsorships
Greater participation of under-represented workplace segments
Presentation Title | March 2012
Partnerships and Research
Improved workability and financial wellbeing for all employees
Programs, Processes & Tools
Maximise contribution of Prime of Life employees
Policy
Flexible work arrangements matched to customer outcomes
Training & Education
Greater workplace productivity
Comms & Employee Engagement Improved attraction, retention & engagement of diverse workforce
Gender Equity - Key Facts and Insights Key Facts* • As of March 30, 41% of leadership roles are filled by women, against our FY13 WIL target of 42%
Strengths and Highlights* • Responses from women at all levels have improved significantly across all gender related questions • A significant and universal improvement in women’s perceptions of gender equity, especially in regard to their ability to advance to senior positions
Challenges and areas for improvement* • Gap in perceptions between men and women • Perceptions of middle management females remain the least positive • Perception of discrimination against men around target setting in WIL
Key focus areas • • • • •
Enhancing opportunities for women to build networks to advance their careers Progressing our strong feeder pipeline of GM1 women to move into GM roles Building role models and mentoring for women in middle management Addressing perceptions of style Creating more networking and mentoring opportunities for women from an Asian background.
*Diversity and Flexibility Survey 2012
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Snapshot of Women at The Westpac Group 23,034 women employees 61% of workforce 40% of leadership positions >47% of bank managers > 48% working flexibly 2,000 take parental leave annually > 85% return from parental leave 36% of attendees on all leadership programs 27.5% increase in Women on leadership programs in 2012
We have a proud history of taking positive action Parental Leave
Flexibility
• • • •
13 weeks paid, 104 weeks in total No qualifying period Pay super for entire period Parental Leave Education
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Market leading policies 43% of all employees work flexibly
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• Child care
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Priority access to centres (some onsite) Carers leave available
• Professional Development
Networking & Mentoring
• • • • •
Leadership development programs Career planning Stretch assignments Formal and informal networking Mentoring programs Profiling opportunities
On target with our approach to gender equity Hard Wire: Policy and Process Group interventions to focus behavioural and process change Examples: – Group Diversity Council – 40% Women in Leadership target – First private sector company to pay Super on unpaid parental leave – Women on recruitment shortlists – Dedicated Development programs – Quarterly review of Business Unit Action Plans
High impact…..
Soft Wire: Cultural Change Group programs to demonstrate change leadership, lift awareness Examples: – Story telling, profiling and case studies – Industry leaders on gender equity – Awards and recognition – Senior Business Champions – UN Women, IWD Partnership – Research partnerships – Leadership Development
….and sustainable culture change
Developing our future female leaders Coaching and Development: Increased participation of Women in Leadership development programs by 27.5% in 2012 Dedicated Leadership Development for Senior Women - “Women Leading @ Westpac” Leadership Development for Junior Women - “Making my Mark” Executive Coaching Increasing the participation of women in core leadership development and high potential programs: In 2012, 36% of 2012 Quest participants were women compared to 25% in 2011 40% of the inaugural Summit Talent program were women 47% of participants in all Leadership Programs (Accelerate, Leader Foundations, Influential Leadership & Leader in Action) were women Recognition: In 2012 Westpac Group launched an internal Women of Influence Awards program showcasing our female achievers Relationship Building: Individual mentoring Group mentoring & sponsorship – “Women on the Move” Employee networking action group – “Women at Westpac” Integrated Skill development: On-Line Support Tools – leadership sites, coaching sites and career planning tools
External approach – a gender equity leader One of the first Australian companies to sign the CEO statement of support for the UN Women’s Empowerment Principles Produced On Target – to publically report our progress Platinum sponsor in partnership with UN Women of the celebration of International Women’s Day, our primary annual event for gender equity Have also partnered with UN Women for the past 3 years on: Gender Equity in the Workplace Summit IGNITE Regional Youth Forums Launched the annual 100 Women of Influence Awards in partnership with the Australian Financial Review newspaper. These awards recognise & profile our Women of Influence in Australia across a range of industries and sectors.
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External approach - sponsoring research to drive sustainable change •
Human Rights Commission - Investing in care: Recognising and valuing those who care. This research is being launched on 31 January 2013. Unpaid caring work is predominantly carried out by women and has been identified as a critical barrier to women’s equal participation in the workplace, as well as the most significant contributing factor to the gender gap in retirement savings in Australia.
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Melbourne Business School - Westpac Group is a founding partner in the Gender Equality Project. The project’s objective is to develop new, validated and tailored solutions to address gender inequality in leadership roles. The partnership provides tailored research and Diversity Skills Leadership Training which addresses the impact of unconscious bias in the workplace.
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Diversity Council Australia - Mainstreaming Flexibility research was launched in March 2012 and the Men and Flexibility research was launched in September 2012. This research provides practical solutions to mainstream flexible work in Australian workplaces. The complimentary Men Get Flexible report outlines the important role of male leaders in championing workplace flexibility.
Reflecting on our achievements Increased women in leadership from 33% to 40%, with target achieved two years ahead of schedule. Our CEO Gail Kelly has now set an aspirational target of 50% by 2017. 33% of our board are women. Recognised by Australia’s Workplace Gender Equity Agency as an Employer of Choice for Women Increased engagement among women at Westpac: Higher in belief and support for the organisation’s goals and values Greater sense of pride Greater willingness to recommend the organisation as a place to work Would take a lot more for them to look for another job and have a greater intent to stay
Lessons Learned Need to ensure that men are engaged as champions of change Targets hard-wired to performance drive real and sustainable outcomes Gender Equity requires a constant and ongoing focus and you cannot assume that it takes care of itself. The need to clearly articulate the business case and the linkage to commercial outcomes