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Leading diversity

Leading diversity. The plan for the next 60 minutes. Diversity – definition and benefits Diversity at Westpac How we Execute Our Focus Case Studies. Who likes jelly beans?. Choose a jelly bean – don’t’ eat it (yet)! Think about the colour when you choose it. WHITE OR BLACK:

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Leading diversity

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  1. Leading diversity

  2. The plan for the next 60 minutes • Diversity – definition and benefits • Diversity at Westpac • How we Execute • Our Focus • Case Studies

  3. Who likes jelly beans? • Choose a jelly bean – don’t’ eat it (yet)! • Think about the colour when you choose it

  4. 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 Can’t 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 they’re 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 ORANGE: Cheerful and good-natured Get along well with almost anyone Friendly with a ready smile Usually have a quick wit Fluent, often eloquent and profound in speech Do not like to be left alone Enjoy life and inspire others to reach their highest potential RED AND PINK: Courageous and their energy seems boundless Smile lots; ask others why they’re 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 – can’t 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: We always ask green to stand because they love recognition These people are seen as leaders, usually in highly visible positions They are respecters of authority and tradition They are decisive, directed, and focused They love black and white jelly bean people to organize their projects for them So…what does your jelly bean say about you?

  5. thinking styles experience work habits ethnic origins management styles competencies problem-solving approaches generational insight cultural backgrounds physical abilities religion nationality sexual orientation gender age race 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

  6. 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’

  7. Diversity at Westpac Communication and Change Leadership: relentless communication of key messages and role modelling; challenging status quo Flexibility Practices: supporting the application of policies through simplification, job design, flex coaching and bravery Culture and Confidence: improving the confidence of our leaders through training, coaching and mentoring Measurement and Reporting: maintaining a rigorous fact base to support decision making Integration: making diversity part of the way we do business Market leadership: be a corporaterole model, take the leadership position What we want to be ‘To be one of the world’s great companies for diversity and flexibility’ What this means To have a workforce profile that delivers competitive advantage To be a truly inclusive, barrier free workplace To leverage the value of diversity for all our stakeholders To role model and be recognised as an innovator in diversity practice Women in Leadership Accessibility Indigenous Employment Age Balance Cultural Mix Where we focus How we do it

  8. 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

  9. 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.

  10. 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 what’s 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

  11. Our Approach High impact in the short term – but likely unsustainable Low visible impact in the short term – but creates sustainable culture change

  12. 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

  13. 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 Women’s 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

  14. Questions?

  15. Additional Slides

  16. 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

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