The Group is committed to creating and maintaining a workforce which is representative of our customers and communities and in which individual differences are valued and respected – it’s good for our employees and good for the business.
It helps attract and retain talented people, create more innovative solutions, and be more flexible and responsive to our customers’ and shareholders’ needs. There is increasing momentum on diversity with a particular focus on gender and age, as well as greater work and career flexibility.
Gender diversity and inclusion continues to be a key priority for the Group. The Company is committed to building strong female representation at all levels within the Group, including executive management.
During the year, the responsibilities of the Group’s Diversity Forum, which was established in 2010 to oversee the execution of the diversity and inclusion agenda, were transferred to the Group Executive Committee. The Group Executive Committee now has direct accountability for execution of this agenda. The Board receives regular updates on diversity from senior executives of the Group.
The Company makes the following disclosures in relation to the ASX Corporate Governance Principles and Recommendations relating to diversity:
Measurable objectives and progress (Recommendation 3.3)
The measurable objectives for achieving gender diversity which have been set by the Board in accordance with the Group Diversity & Inclusion Policy, and our progress towards achieving them, are set out in the table below.
- Increase the number of women in executive management (the top three layers of the organisation1), from 23% to 33% by 2015.
- Increase the proportion of women on Group subsidiary boards from 14% to 30% by 2015.
- Increase the number of female non-executive directors on the Board of directors of the Company, as vacancies and circumstances allow, with the aim of achieving a representation of at least 30%.
- Strengthen the talent pipeline by targeting a 50/50 gender balance in the Australian graduate program intake and an even representation of women and men on NAB's core Australian talent development programs from 2011 onwards.
- As at 30 September 2013, 30% of the Group's executive management were women.
- We have actively encouraged women to join Group subsidiary boards during the year. Of the total number of subsidiary directors, the proportion of women has increased to 31% as at 30 September 2013.
- The proportion of female non-executive Directors on the Board as at 30 September 2013 was 11%. (see Succession planning on page 53 in our Corporate Governance statement).
- Graduate program (Australia): As at 30 September 2013, 47% of the graduates who have accepted positions in NAB's 2014 graduate program are women.
- Core talent development programs (Australia): For the 2013 financial year, 47% of the Australian talent development program participants, on an aggregated basis across NAB's core talent development programs (Elevate, Ignite and Accelerate), were women.
Proportion of women employees and Board members (Recommendation 3.4)
- Proportion of women employees in the whole organisation.
- Proportion of women in senior executive positions (executive management positions) within the Group.
- Proportion of women on the Board of the Company.
- As at 30 September 2013, 57% of the Group's employees were women.
- As at 30 September 2013, 30% of the senior executive positions within the Group were held by women.
- As at 30 September 2013, 9% of the Company's Board of Directors (including executive directors) were women.
- The Company is committed to ensuring that the composition of its Board continues to be appropriate (see Succession planning on page 53 in our Corporate Governance statement).
1 Executive management positions (also known as senior executive positions) are those held by Group Executive Committee members, Group Executive Committee members' direct reports, and their direct reports. Note: Support roles reporting into these roles (for example, Executive Manager and Executive Assistant) are not included in the data.
Diversity activities and initiatives
Some of the Group's diversity and inclusion activities during the year include:
Women in executive management positions:
The Group is committed to creating and maintaining a workforce which is representative of our customers and communities. A key part of this is creating a workplace where women are able to grow their careers and that also supports their personal and family life.
Some of our diversity and inclusion initiatives for women include:
- requiring that a mix of men and women be short-listed for executive management roles in Australia and that men and women make hiring decisions on interview panels together, where possible;
- offering a range of programs in Australia including 'Realise' which prepares women for the transition into more senior role, and
- 'NAB Board Ready' which supports women by coaching and educating them in the skills necessary for subsidiary board positions and community partner directorships. The key goal of the program is to build a pipeline of women who are competent, up-skilled and ready to join the boards of the Group’s subsidiary companies.
In 2013, the Group changed the way service is calculated for the purpose of recognising career milestones. Any extended leave that employees take (or have taken in the past) is now included in the calculation of their years of tenure for service recognition. Many women take extended breaks from the workplace while on parental leave - this change recognises women’s ongoing service to the Group and demonstrates our commitment to equality in the workplace.
Domestic Violence Support Policy
Domestic violence affects an employee’s attendance at work, performance and safety. It also costs Australian workplaces and businesses in loss of productivity, attendance and turn over. To address this, the Group launched its first Domestic Violence Support Policy, the first of its kind for a major Australian bank, which supports our employees who experience domestic violence in dealing with the impacts of this issue.
Women in Leadership Award
Bank of New Zealand was honoured by the Women’s Empowerment Principles, a joint initiative of UN Women and the UN Global Compact in its inaugural leadership awards for its work in driving greater representation of women at senior management level.
The Accessibility Action Plan 2012-2014
In Australia, on 3 December 2012, International Day of People with a Disability, we launched our Accessibility Action Plan 2012-2014. The Plan demonstrates how we are developing an inclusive and supportive culture at NAB to help remove the barriers to access that exist for people with a disability.