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Our approach

We aim to attract and nurture the very best people through our recruitment and retention strategies. It is common practice to hire local residents in our significant areas of operation. We also encourage secondment opportunities and transfers between our businesses in different geographic locations.

ANZ seeks to avoid redundancies, but when restructuring and redeployment are unavoidable, our processes and guidelines aim to minimise the impact on those affected. Priority for internally advertised positions is given to those on redeployment. We also provide access to outplacement services to help affected employees find suitable roles outside the bank.

In Australia, generally at least 12 weeks notice is provided to employees who are impacted by significant operational changes. Retrenchment and redeployment procedures are specified in the ANZ Group Award 1998, the ANZ/FSU Agreement 1998 and the ANZ Retrenchment Policy. In New Zealand, an employee whose position becomes redundant generally receives a minimum of six weeks notice or payment in lieu. Redundancy and redeployment procedures are specified in the ANZ National Bank Collective Employment Agreement, the Individual Employment Agreements of all staff and the ANZ National Redundancy and Redeployment Policy.

As ANZ grows throughout Asia and the Pacific our long-term objective is to nurture a leadership team that is as much as possible drawn from the regions where we are growing our business. It is a strategy that makes logical business sense and is the best way to create a sustainable workforce for the long-term.

'Local' leadership will more likely have a deeper understanding of the needs and expectations of potential customers in the region and therefore how to position our business for the best results.

2009 results

Restructure

A major restructure of our business (PDF 43kB) was implemented throughout 2009. While the new structure has helped deliver a more efficient business - creating fewer management levels and maximising the sharing of resources and expertise across the organisation - it also involved significant change for many employees. In addition, around 1200 people were retrenched in Australia and New Zealand.

Staff received regular updates on the rationale for the change, processes for reviewing businesses and assessing staff for available roles, as well as information on the development of new teams and structures.

People impacted by job losses were offered support to help them find roles inside and outside ANZ, including counselling services, career advice and assistance with job searching. Around 465 employees participated in New Beginnings workshops, providing a supportive and safe environment for teams impacted by the restructure to air concerns and better understand their role in the organisation.

Throughout 2010, our senior leaders will work with their teams to encourage a deeper understanding of ANZ's business strategy, its relevance to each area of the bank and how individuals and teams can contribute to the organisation's goals.

Recruitment and retention

In the past year, 7,590 new employees joined ANZ globally. This includes 3,096 in Australia and 1,013 in New Zealand. During the reporting period, 4,304 left ANZ voluntarily (2,138 in Australia and 830 in New Zealand).

Total redundancies

Annual total turnover rate by gender and age**

* EMEA refers to Europe, Middle East and Africa
** Total turnover includes voluntary and involuntary staff turnover

2008 results

In the past year, 9,245 new employees joined ANZ globally. This includes 4,575 in Australia and 2,292 in New Zealand. During the reporting period, 5,030 left ANZ voluntarily (2,929 in Australia and 1,330 in New Zealand).

Recruitment and retention

* Total for Asia, EMEA, India and Pacific

Total redundancies

Annual turnover rate by country, gender and age^

^ Total turnover includes voluntary and involuntary staff turnover

The future

On 9 September 2008, ANZ CEO Mike Smith announced a new customer-centric business model and structure for ANZ that will accelerate our progress towards becoming a super regional bank (PDF 44kB). The new structure is effective 1 October 2008 and the new business model will be established progressively throughout ANZ during 2008-09.

As we move to make our structure simpler, it is inevitable that some staff roles will change or may no longer be required. If people are significantly impacted we will support them. We also expect that the changes will have little impact on our branch and call centre people and will largely be complete by the end of 2008.