IAG remains committed to continually improving its constructive, inclusive workplace and creating an agile organisational culture.
BUILDING LEADERSHIP CAPABILITY
IAG is focused on building an inclusive organisation and providing market-leading career development opportunities. We continued to invest in strategic and operational leadership development programmes, such as providing 90 days of specialised coaching to more than 30 executives and senior managers. In addition to promoting "career courage", the coaching boosted overall business performance by helping senior leaders quickly adapt to their new roles.
Senior leaders across the Group participated in an immersive leadership programme in partnership with Duke University, and we continued to promote career mobility opportunities with an increase in the number of our people taking up secondments in Asia or New Zealand.
AN INCLUSIVE WORKPLACE
IAG promotes a workplace that is inclusive of all employees, regardless of gender, ethnicity or age. We embrace diversity and have committed to a number of programmes aimed at further embedding the principles of inclusiveness.
For example, in Australia, we renewed our commitment to support Indigenous communities with the launch of our first Reconciliation Action Plan. As part of the Plan’s commitments, we officially partnered with the Jawun skilled volunteering programme which will see 12 Group employees work with Indigenous organisations in New South Wales, Victoria and Alice Springs each year. We also began a 10-year partnership with CareerTrackers that will see a minimum of 15 promising Indigenous students complete internships with us annually.
People indicators
The number of women in senior management rose to 32% across the Group. We are targeting 33% by 2015.
REPRESENTATION OF WOMEN IN THE WORKFORCE |
|||
|---|---|---|---|
| 2014 | 20131 | 20121 | |
| Total workforce | 59% | 60% | 59% |
| Senior Management positions | 32% | 29% | 29% |
| Executive positions | 25% | 29% | 25% |
| Board positions | 33% | 25% | 25% |
MALE:FEMALE ANNUAL SALARY RATIOS ($) AS POSITION IN RANGE2 |
|||
|---|---|---|---|
| 2014 | |||
| General employees | 100:1 | ||
| Manager / Senior Specialist | 1.05:1 | ||
| Senior Manager | 1.05:1 | ||
| Heads Of / General Manager | 1.06:1 | ||
1 2013 and 2012 data based on Australia and New Zealand employees; 2014 data based on Australia, New Zealand and Asia employees.
2 The "position in range" describes the employees’ remuneration within their remuneration range, which is based on their relevant market benchmark. This is a new metric and cannot be compared to prior year salary ratio reporting. The ‘position in range’ data are based on Australia and New Zealand employees only.
AN AGEING POPULATION
IAG is seeking ways to support the continued participation of our older workers. Given that workers' compensation does not apply to people aged over 65, introduced personal injury insurance to protect older staff should injury arise from an accident at work. As part of our ongoing focus on age diversity, we carried out research with Sydney University on inter-generational knowledge sharing. We also piloted workshops in 2014 to help older workers with choices about career planning, health and financial matters.
Employees looking to phase into retirement continued to take single days of long service leave to make the transition more financially and emotionally sustainable.
GENDER DIVERSITY
Gender pay equity is an important issue for IAG and we have reported our salary ratios externally for several years.
In 2014 we adopted a new gender pay equity metric that takes into account factors such as role seniority, job-family and geography on our average gender salary ratios. On this basis, our overall gender pay differential is 2%. This compares with an average salary which is 14% higher for males than for females when variables related to workforce demographics are removed.
Other gender diversity initiatives included our Welcome Back bonus payment, part of IAG’s industry-leading parental leave. We believe this policy encouraged 86% of new mothers to return to work in 2014, up from 75% in 2013. To make it easier for all carers, our flexible work arrangements still include options to job share, have work-compressed weeks and work from home.
IAG CULTURE
IAG remains committed to building an agile organisational culture and this year we received formal recognition for our work to develop a constructive culture. Our deliberate focus on improving workplace culture helped us unlock value for our customers and partners, while continuing to achieve our strategic and financial objectives.