Our approach and performance
Respecting and ‘valuing every voice’ is one of our core values and essential to the growth and success of our business. We believe that motivated, engaged and knowledgeable employees will provide the best service for our customers and contribute to the long term success of our company.
Our aim is to create a values and performance driven culture, inspiring leaders and a vibrant and engaged workforce where people can grow and develop their careers with us.
We measure our success by listening and acting on employee feedback and constantly finding new ways to improve our culture and environment so that ANZ is a truly great place to work.
Measuring engagement and monitoring performance
We are committed to valuing every voice and giving all of our people the opportunity to have their say on what it's like to work at ANZ through an annual employee survey – My Voice.
My Voice also tracks our people’s perceptions of our leaders, quality focus and customer orientation. This helps us understand how well our culture enables product and service advocacy and a positive customer experience - a leading indicators of business performance. The results identify specific areas where we can take action to lift performance and bring our values to life.
The survey measures four key components of employee engagement:
- Whether employees are satisfied with ANZ as a place to work (satisfaction);
- Whether employees consider or actively seek a new job with another company (commitment);
- Whether employees would gladly refer a good friend or family member to ANZ for employment (advocacy); and
- Whether employees are proud to say they work for ANZ (pride).
Following the survey each year, actions plans are developed at both a Group/Divisional level and a local level to address survey feedback and progress is reported regularly to ANZ’s Management Board. An online tool enables line managers to develop action plans with their team’s input, using focused listening questions to further delve into the survey results, and drawing on sample actions to develop their plan.
It is also important that we provide our people with the opportunity to share their views and opinions directly with our senior leaders. In this context, in 2007 we introduced our CEO face-to-face employee forum program whereby our CEO can meet directly with our employees to discuss the Group’s strategy and performance, and to understand employee perspectives on issues and challenges facing ANZ and the wider banking industry.
We encourage high participation in the annual ‘My Voice’ employee survey - 40,507 people (71%) provided their ideas and feedback in the 2012 survey. The survey was completed by employees from across 32 countries - every country in which ANZ operates had their say.
Our results showed Employee engagement levels steady at around 70% – consistent with the banking sector average, but short of our goal to be best in class. Importantly, the survey showed our people's assessment of our commitment to customer excellence, measured through the Performance Excellence Index, is up from 73% to 75%. Other key findings include:
Engagement of women overall is equal to men; while engagement among our most senior women increased from 75% to 82%.
Our CEO, Mike Smith shared Management Board’s three priorities for action in response to our My Voice results with all employees in July. These are:
ANZ’s people strategy focuses on building the ‘best connected, most respected people in banking’.
A new People Strategy was developed and introduced in 2011 to ensure we are building the employee foundations necessary for the long term success of our business and brand. The strategy describes the skills, capabilities and culture we need to deliver our super regional aspiration. The engagement survey (and specific questions within it) are among the metrics that will be used to monitor and measure progress in building a customer-centric and super regional culture; inspiring leaders; and a vibrant, diverse and inclusive workforce.
We set a target to increase overall Employee Engagement from 64% in 2010 to 68% in 2011, and we exceeded that target reaching 70%.
We encouraged high participation in the My Voice survey and some 40,000 employees globally completed it in May 2011.
This year’s survey results have shown that our employee’s experience working for ANZ has improved across almost every measure. Importantly, the survey showed our people's assessment of our commitment to customer excellence, measured through the Performance Excellence Index, is up from 68% to 73%.
We act on employee feedback. Through our 2010 My Voice survey, our people told us they wanted to better understand their role in achieving our super regional goals and how they can further develop their career at ANZ. In response we:
A new People Strategy was also developed and introduced in 2011 to ensure we are building the employee foundations necessary for the long term success of our business and brand strategy.
The People Strategy describes the skills, capabilities and culture we need to deliver our super regional aspiration. The engagement survey (and specific questions within it) are among the metrics that will be used to monitor and measure progress in building a customer-centric and super regional culture; inspiring leaders; and a vibrant, diverse and inclusive workforce.
While we’ve made real progress to improve employee engagement, we still have more to do. Our goal is to continue to improve both these measures to meet global ‘best in class’ standards. We will do this by focusing on the most important issues for our employees. These include:
More than 29,000 employees globally participated in the 2010 My Voice employee survey. Employee engagement (how employees feel about working at ANZ) is 64% favourable a slight decline on our employee engagement score of 66% in 2009. For the first time in 2010 we measured 'performance excellence’ (our level of commitment to product and service quality) and recorded a 68% favourable score.
Recognising the strong links between employee engagement, customer satisfaction and business performance, our focus in 2011 is to improve our group-wide employee engagement performance from 64% to 68%. Senior leaders and line managers are responsible for owning and actioning their My Voice survey results. This means actions will be tailored to address local issues so they can really make a difference.
More than 23,000 employees globally participated in the 2009 My Voice employee survey (or 52% of all staff) which revealed employee engagement at 66%. While we cannot directly compare our results with those from the previous survey, due to a change in the service provider and new survey format, we are able to compare our results to the industry average.
At 66% employee engagement, our result comes in slightly below the average score for other global financial services companies (71%) and below the benchmark for the sector’s high performers (75%).
The survey measured the four key components of employee engagement and found that 64% of staff are satisfied with ANZ as a place to work (satisfaction); 54% rarely think about looking for a new job with another company (commitment), 71% would gladly refer a good friend or family member to ANZ for employment (advocacy) and 75% are proud to say they work for ANZ (pride).
The survey also took a measure of staff opinion about how well we are performing as an organisation (performance excellence). 63% of ANZ staff strongly agreed or agreed with the statement, "As a customer of ANZ, I would be extremely satisfied with the quality of the products and services I receive."
ANZ's My Voice engagement survey will be conducted for the second time in its new format in 2010, allowing a year-on-year comparison of results, and an expansion of the issues surveyed. The results will help identify specific actions that can be taken both at an organisation-wide and local level to address opportunities and issues. Progress reports on these actions will be reported quarterly to ANZ's Management Board.
Almost 32,000 employees globally participated in the 2008 Engagement and Culture Census which revealed employee engagement at 62%. While this was a slight decrease from 64% in 2007, our score compares favourably with the average engagement score for global financial services companies at 60%.
The results demonstrate our strong customer focus right across the organisation. Our top four values were identified as profit, customer focus, community involvement and results orientation.
Here are some of the key results:
The Engagement and Culture Census results help to identify specific actions that can be taken both at an organisation-wide and local level to address opportunities and issues that are impacting ANZ's engagement and culture, and subsequently, employees' experience at work. Progress reports on these actions are reported quarterly to ANZ's Management Board.