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Embracing Societal Change

Below are some of the initiatives we are progressing in each of our four focus areas.

What we are doing

Ensuring our workforce is representative of the community

  • Fostering a workforce that embraces a wide diversity of people - those from different cultural backgrounds, with different life experiences, ages, abilities, genders, sexual orientation, thoughts and perspectives.
  • Addressing the issue of 'unconscious bias' through employee training and encouraging the uptake of flexible work arrangements among employees.
  • Introduced new approaches to recruitment which recognises that the talent economy has fundamentally changed as top performers are more often moving fluidly between industries, organisations and countries.
     

Extend working lives and quality of life

  • Providing the best physical environment, tools, technology, systems and policies to support our employees to be more agile, improve their ability to work remotely from the office, and achieve greater productivity.
  • Introduced an innovative and market leading Enterprise Agreement that includes new benefits such as 12 weeks of flexible lifestyle leave per year, superannuation paid on up to two years' unpaid parental leave and 10 days' paid leave per year to support employees experiencing domestic and family violence.
     

Anticipate future needs of ageing and culturally diverse customers

  • Introduced initiatives to support financial wellbeing of customers, particularly as they plan for retirement. This included the launch of a contact centre for Prime of Life customers aged 50+ years.
  • Launched our most ambitious Reconciliation Action Plan to support the growth and prosperity of Aboriginal and Torres Strait Islander people.
  • Improving policies and the way we welcome new Australians to help reduce the stress involved in starting new lives.
  • Developed a Supplier Diversity policy to formalise our aspiration to increase the diversity of the businesses from which we source products and services.
  • Proactively celebrating significant cultural milestones such as Lunar New Year, Autumn Moon, Diwali and National Reconciliation Week and NAIDOC Week.

Summary of key achievements

  • 46% of leadership roles held by women at 30 September 2015, up from 38% in 2011 - putting us on track to meet our 50% target by 2017.
  • 150 additional Indigenous Australians recruited across Westpac Group during 2015, in line with our target of 500 by 2017.
  • More than 63% of employees using flexible work arrangements.
  • More than 1,760 employees have completed Indigenous Cultural Awareness training.
  • Supply chain spend directed to Indigenous Australian businesses increased to $1.2m.
  • Detailed commentary and metrics on our performance can be accessed in our: