Our STEM Commitment is a framework for change
The Westpac Science, Technology, Engineering and Maths (STEM) Commitment is a roadmap to creating an environment where our customers, people and community prosper now and in the future. It captures the initiatives, programs and partnerships Westpac is driving, guides the aspirations we want to have, and tracks the change we are seeking to make.
What is STEM?
We’ve always known that success in the education of these subjects will promote valuable skills, but now, they’re essential. And with an estimated 75% of new Australian jobs requiring some form of STEM skill, it’s no longer an optional extra.
As Australia’s first bank, we see it as our job to help remove barriers to education – opening up a workforce that embraces the digital revolution. We believe this is an essential investment in people, business, and banking of the future.
This is an exciting time and we can’t wait to see how STEM skilled people will influence our future, and help drive the nation into our third century.
Our Westpac STEM Commitment is centred around four priority areas:
- Investing in and inspiring the next generation - We’re committed to helping the next generation of Australians prepare for the future workplace in a world where disruption is the norm
- Talent Incubation - We’re committed to helping create a future-ready workforce to support Australia’s ability to succeed in the long-term
- Championing Change - We’re committed to changing the conversation about STEM
- Fostering Innovation - We’re helping to embrace, incubate and celebrate disruptive technologies, entrepreneurs, thinkers and ideas.
In coming years Westpac is committed to:
- Continuing to invest over $150 million in education and initiatives to build a STEM-confident nation
- Developing job-ready graduates whose skills and capabilities meet current and future workforce needs by increasing and diversifying our tertiary pathway programs
- Creating diversity in STEM students, with a particular focus on women and girls, Aboriginal and Torres Strait Islander people, regional and socio-economic disadvantaged communities
- Attacking the diversity challenge by providing up to 100 girls with practical business and STEM-related work experience
- Empowering our employees to donate or volunteer their support to STEM skilled volunteering and mentoring programs
- Partnering with universities and investing in technology and training entrepreneurs, partners and suppliers
- Using our strategic voice to showcase careers and diversity at Westpac and across our partner networks and customer base.