ANZ is actively seeking to boost the number of women in leadership positions. With a predicted skills shortage and more than 50% of university graduates being female, it is imperative for ANZ to enable women to contribute in different and flexible ways at a senior level.
Women make up approximately 61% of our workforce and are more highly engaged than their male counterparts, but they continue to be underrepresented at the senior leadership levels of the organisation.
According to Cathryn Carver, Managing Director, Corporate Finance, and Chair of the Institutional Talent Council, the problem goes beyond the boundaries of the organisation.
'Our top clients in key segments are mostly male, and historically we have appointed senior relationship bankers and product specialists that match our clients' profiles, including gender. These outdated perspectives are increasingly shifting, and we now aim to appoint the best person, regardless of gender,' says Cathryn.
INITIATIVES TO IMPROVE LEADERSHIP OPPORTUNITIES FOR WOMEN
ANZ's Diversity Council is taking a multi-faceted approach to dealing with gender diversity issues. The response has been designed to address the findings of a 2005 survey which identified some of the barriers for women including a lack of understanding of issues related to women, women being assessed on 'style issues' rather than performance, and a 'blokey' culture. This year we've continued to build on the following initiatives:
- Setting and tracking our gender targets for women in management and in talent and graduate programs
- Ensuring women are put on job short-lists and selection panels for senior positions
- Providing coaching and support for women during critical role transitions
- Introducing transparent processes for reviewing an individual's career potential
- Reviewing gender pay equity on an annual basis and identifying and resolving discrepancies in pay equity
- Providing managers with better guidance on setting appropriate pay levels for all employees.
INCREASING REPRESENTATION OF FEMALE GRADUATES
Recently, we have refocused our graduate recruitment strategy to be more attractive to women. Four years ago, only 39% of our Australian graduates were women - today it's 51%. Now we are concentrating on retaining and supporting our female graduates throughout their careers.
Many of these graduates are involved in employee-led programs which are helping to address specific issues in different parts of our business. For example, in our Institutional business, a reverse mentoring program called Trading Places helps executives understand the issues facing people from different backgrounds. Programs such as the ForWARD Forum and Banking on Women also provide opportunities for female employees and clients to network and share their experiences.
SUPPORTING WORKING PARENTS
Another way we are improving leadership opportunities for women is by supporting them as parents. For example, our staff receive 12 weeks paid parental leave regardless of years of service and they can also request an extension of up to two years.
This year, we've focused on parental leave as the first critical point where female employees experience barriers to career advancement. Some women returning from parental leave experience a lack of flexibility or believe that their career progress has stalled.
Improvements to our flexible work arrangements are helping to address this issue. Both men and women can access flexible working hours, part-time work and job sharing. A My Flexibility hotline also assists employees and managers to find flexible work solutions.
This year our Women@ANZ intranet site was redeveloped, providing women with information about career development, health and wellbeing, flexible work policies and progress on our women in management targets. Working parents also have the opportunity to participate in Staying in Touch lunches and the Working Parents Network and receive ANZ Baby Bags when they have a new addition to the family.
In 2007, 82.5% of Australian employees on parental leave returned to employment at ANZ.
THE FUTURE
The tide is changing according to Rebecca Griffin, Head of the Office of the CEO: 'More and more strong female candidates are coming up through the ranks and our hiring training programs are helping executives to identify and overcome natural biases.'
While ANZ did not meet its 2007 targets for women in management, there are signs that our focus on this issue will deliver results in the future. We will have succeeded when we see the pipeline of talented women at ANZ flowing more strongly into senior leadership positions.
We know that supporting women's careers is a complex issue but we have a solid foundation, a culture that supports women to bring their whole selves to work, an engaged female workforce and excellent female talent. We are confident that positive outcomes will follow.
