Initiatives
People strategy: To achieve corporate goals IAG has developed a people strategy. Its primary goals are:
- Attraction and retention
- High-performance culture
- Capability and development
- Simple and efficient people processes and systems
The strategy incorporates various programs and initiatives to achieve these goals. For example, the Work and Life program aims to help people balance their work with other aspects of their lives. It does this by recognising and understanding people's commitments outside work and finding ways to best accommodate them. The program includes such initiatives as Work and Flexibility, Work and Family, Work and Diversity, and Work and More Help (incorporating study assistance).
IAG has also developed programs to help its people use workplace flexibility to their advantage and the Group's. At present the full-time and part-time mix favours full-time employment with a downward trend of part-time employees. IAG would like to see more of its employees enjoy the flexibility offered to them and greater organisational capacity to encourage part time employment. In 2004/05 many of our people programs will deal with workplace flexibility and the benefits employees can enjoy from maximising their use of these initiatives.
Enterprise Agreement: In December 2003, the IAG Enterprise Agreement came into force. The agreement reflects IAG's commitment to create a working environment for all employees based on a commitment to high performance, productivity, flexibility and equity.
Notable inclusions in the agreement are six weeks paid parental leave, opportunities for staff volunteering one day a year in a community organisation of their choice, the establishment of a work-life task force to encourage flexibility and diversity and IAG's commitment to the environment. The development of the Enterprise Agreement was conducted with significant input from external stakeholders, notably the Financial Services Union and demonstrates IAG's commitment to collective bargaining. In IAG, the union represents 2,149 employees, or 20.1% of IAG's Australian employees.
Retention specialist: IAG has recently focused on people retention as a key factor in workplace sustainability. The appointment of a retention specialist has led to various initiatives that have had an impact on staff redeployment. In 2003/04 the company saved approximately $580,000 in redeployment (based on possible redundancy payouts). This result is not only pleasing financially, it also allows IAG to identify the skills of its people better and work with them to place them in roles that satisfy them.
Training: IAG recognises the importance of training its people so they are aware of current issues and events relevant to the Group. As a fully qualified training provider, IAG uses its network of trainers to nurture a culture of high performance. At present the information systems do not capture reliable data on the specific number of staff trained. In 2005 IAG looks forward to reporting quantitative training data.
Indigenous Employment Program: IAG recognises that Indigenous Australians have suffered disadvantage in the workplace and broader community. Through a range of employment, learning and community program initiatives, the Group is working in partnership with Indigenous communities to help overcome this disadvantage. A Memorandum of Understanding has been signed with the Department of Employment and Workplace Relations to participate in the Corporate Leaders for Employment Project, funded by the Commonwealth Government. The aim of this project is to generate greater Indigenous employment in the private sector.
A number of other steps have been undertaken to ensure IAG's long-term support of Indigenous employment. These include the development of a comprehensive Indigenous Employment Strategy and the appointment of a full-time diversity specialist. Key achievements so far include the increase in Indigenous employees at IAG from four to 13 in the past year; the support for five Indigenous programs through the CommunityHelp grants; the ongoing financial support for the Police Youth Mentor Program in Redfern; and the financial and professional expertise afforded to the Aboriginal Employment Strategy to help build its business and extend operations into Dubbo. These partnerships are aligned to the Group strategy of reducing risk and making local communities safer.
Appropriate Behaviour: IAG values the integrity of its employees. The Group wants to provide a satisfying, businesslike workplace that encourages performance and job satisfaction and ensures that its integrity and reputation is not compromised. Various codes of conduct have been adopted to ensure its people act in an ethical and appropriate manner. These policies provide guidelines on issues such as resolving workplace grievances. They also guard against dishonest and fraudulent behaviour, misuse of email and internet access, discriminatory or exclusive practices, harassment or any conduct that might require advice or discipline.
To ensure effective implementation of the Group's Code of Conduct all managers at IAG are required to complete a compliance report bi-annually for their department. Matters of compliance are reported and monitored through the Regulatory Affairs Committee & the Risk Management and Compliance Committee of the Board. For a full copy of the code of conduct for IAG employees please see www.iag.com.au/about/governance/media/2004CodeConduct.pdf
| Full time versus part-time employees: | 8,811 full time employees, 85.9%1,445 part time employees, 14.1% |
| Staff turnover: | 20.52% Target- 17% |
| Absenteeism: | 3.25% |
| Percentage of women in senior management | 30% women 70% men |
| Percentage of women in executive positions | 15% women 85% men |
| Percentage of women on the Board | 25% women 75% men |
| Percentage of women in the organisation | 58% women 42% men |
| Female to male salary ratio: | 1:1.42% |
indicates that KPMG has provided assurance on the figures. For more information please see the Assurance statement.