Leading diversity

What is 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”. 

Setting up for success

Shared vision

The business case

Whole of business approach

Strong accountability framework

Integrated execution model

Hard wiring AND soft wiring

Strong program management

Data, data and more data – quantitative and qualitative

Our vision is to be one of the world’s great companies for diversity and flexibility

How we do it

Where we focus

It means

Communication and change leadership: Building diversity capability of senior 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 leader capability development

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 corporate role model, take the leadership position

Women in leadership

Indigenous employment

Age diversity

Accessibility

Our workforce profile delivers

competitive advantage

We can leverage the value of diversity for all our stakeholders

We have a truly inclusive, barrier free workplace

We role model and are recognised as an innovator in diversity practice

Cultural diversity

Our strategy is grounded in core themes

We ensure all leaders have broad experiences….

1. affect large scale change

2. lead a customer interfacing area

3. manage significant business risk

4. lead a diverse and demanding work team

5. lead across businesses and across functions

6. manage significant relationships with external stakeholders

7. be exposed to a different culture or market outside Australia

Our seven critical experiences

…we ask employees how our leaders are performing…

decisions are consistent with the values

encourages me to come up with innovative solutions

does not promise things which we cannot deliver

works effectively with people who are different to him or herself

encourages us to cooperate to get the job done

gives me regular feedback on my performance

uses conflict constructively to improve ideas

provides coaching to help me improve my skills

…and we recruit for diversity

Graduate recruitment criteria

Thinkers and doers

A strong customer focus

A positive outlook

Great communication skills

Confidence

A passion for working in financial services

Strong interpersonal skills

People who are keen to work as part of a diverse team

The business case

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 by more closely reflecting the demographics of the community

Delivers sustainable value for shareholders

Enhances reputation in the community as a trusted organisation that ‘does the right thing’

Provides access to an unfair share of the talent pool

Our execution model is integrated, from the grass roots level up

Diversity & Flexibility Team

Group Diversity CouncilGail Kelly (Chair)

Board

Business Divisions

Employee Action Groups

HR Centres of Excellence

Corporate Affairs &

Sustainability

1200+ Chief Diversity Stars (advocates across the Westpac Group)

HR GMs & Generalists

One team: work with the customer and community facing parts of the business

Government Relations

Government Relations

Group Sustainability

Group Sustainability

Community PartnershipsCommunity

PartnershipsSocial Sector

BankingSocial Sector

Banking

Indigenous Engagement

Team

Indigenous Engagement

Team

Organisational Mentoring

Organisational Mentoring

Westpac Women’s Markets

Westpac Women’s Markets

Diversity and Flexibility

Diversity and Flexibility

Our approach

Group wide programs to demonstrate change leadership, lift awareness, create opportunity

Examples:– Story telling and symbols– Research partnerships– Coaching and mentoring– Leadership Development

Enterprise wide interventions to focus behavioural and process change

Examples:

– Women in Leadership targets

– Policy changes

– Women on shortlists

– Group Diversity Council

Soft Wire

cultural change

Hard Wire

policy and process

High impact in the short term – but likely unsustainable

Low visible impact in the short term – but creates sustainable culture change

Hard wiring: targets

Levers to success

• CEO sponsorship

• Accountability

• Dedicated team

• Rigorous measurement

• Key levers in talent pipeline– Graduate intake– Succession planning– Women on shortlists– Women on interview panels– Blind screening– Leadership development– Executive sponsorship– Coaching and mentoring– Career planning and pathing

40%by

2014

Softwiring: story telling and case studies

Divisional UpdatesDivisional Updates

___________________________________________

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Board ReportingBoard Reporting

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Program Status UpdateProgram Status Update

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Key People MetricsKey People Metrics

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Disciplined program management

120 Day Workplan120 Day Workplan

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Clarity around:

• Activities

• Outcomes

• Priorities

• Funding

Our Diagnostic Process

• Annual Staff Perspective Survey - over 90% response rate; measures engagement, culture and leadership

• Annual Diversity Survey – 43% 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 or key issues

• Employee Action Groups – designed to provide networking opportunities and business input and create solutions

• Ad hoc employee feedback - employees provide feedback on our policies and practices 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

• Rigorous People Metrics – measure and track performance on critical inputs and outputs at a granular level

Diversity audit process

Interviews30+ senior leaders

Focus Groups1,100+ volunteers

On-line Survey40,000 invitations

• To gather insight into the diversity and inclusion challenges facing each business in the Group

• To gauge leadership commitment to the business case for inclusion

• To identify areas of focus for the online survey be administered across the Group

• To test the feedback and resulting hypotheses from the interviews

• To perform a Diversity Census to understand the actual diversity profile of our workforce

• To assess the culture by measuring employees’ attitudes and perceptions on a range of diversity issues

• To build on the results of the online survey

• To test the findings with a broad range of employees

• To build a community of advocates for the future

Integrated, consistent, sustained communication programIntegrated, consistent, sustained communication program

Diversity audit outcomes

What did we learn? What’s nextWhat did we do?

• Deep insight of the make up of our workforce, beyond age and gender

• Bellwether on key cultural issues and perceptions

• Feedback on familiarity and application of policies

• Feedback on areas of need and gaps

• High level of engagement with issues and the agenda

• Rapidly launched new policies and resources

• Rolled out critical training

• Communicated results broadly in but in a targeted and integrated way

• Re-prioritised our workplan

• Mobilised Employee Action Groups

• Recognised our chief diversity stars

• Continued engagement with key resource groups to drive action:

• EAGs

• Diversity stars

• Re-test a subset of questions

• Refine workplan

• Repeat

• Integrated, consistent, sustained communication program• Group and divisional action planning• Integrated, consistent, sustained communication program• Group and divisional action planning