Recruitment, retention and turnover - Corporate Responsibility

Recruitment, retention and turnover

We aim to attract and nurture the very best people through our recruitment and retention strategies. It is common practice to hire local residents in our significant areas of operation. We also encourage secondment opportunities and transfers between our businesses in different geographic locations.

ANZ seeks to avoid redundancies, but when restructuring and redeployment are unavoidable, our processes and guidelines aim to minimise the impact on those affected. Priority for internally advertised positions is given to those on redeployment. We also provide access to outplacement services to help affected employees find suitable roles outside the bank.

In Australia, generally at least 12 weeks notice is provided to employees who are impacted by significant operational changes. Retrenchment and redeployment procedures are specified in the ANZ Group Award 1998, the ANZ/FSU Agreement 1998 and the ANZ Retrenchment Policy. In New Zealand, an employee whose position becomes redundant generally receives a minimum of six weeks notice or payment in lieu. Redundancy and redeployment procedures are specified in the ANZ National Bank Collective Employment Agreement, the Individual Employment Agreements of all staff and the ANZ National Redundancy and Redeployment Policy.

Case study: Building local leadership teams in Asia
ANZ's long-term objective is to nurture a leadership team that is as much as possible drawn from the regions where we are growing our business. It is a strategy that makes logical business sense and is the best way to create a sustainable workforce for the long-term. 'Local' leadership will more likely have a deeper understanding of the needs and expectations of potential customers in the region and therefore how to position our business for the best results. It is also an approach which helps us stand-out from the crowd in the eyes of potential employees, according to ANZ's Chief Executive Officer of North East Asia, Alistair Bulloch. 'The financial services market is growing faster than anywhere in the world and the labour market is highly competitive. To be successful we have to offer something different which is also valued by the best talent. "Because of our commitment to becoming a major foreign player in the region, for which we need to develop local leadership, we can offer candidates in the region a clear pathway to senior management positions and beyond - this is rare for multinationals in Asia".

Case study: Building local leadership teams in Asia

ANZ's long-term objective is to nurture a leadership team that is as much as possible drawn from the regions where we are growing our business. It is a strategy that makes logical business sense and is the best way to create a sustainable workforce for the long-term.

'Local' leadership will more likely have a deeper understanding of the needs and expectations of potential customers in the region and therefore how to position our business for the best results.

It is also an approach which helps us stand-out from the crowd in the eyes of potential employees, according to ANZ's Chief Executive Officer of North East Asia, Alistair Bulloch.

'The financial services market is growing faster than anywhere in the world and the labour market is highly competitive. To be successful we have to offer something different which is also valued by the best talent.

"Because of our commitment to becoming a major foreign player in the region, for which we need to develop local leadership, we can offer candidates in the region a clear pathway to senior management positions and beyond - this is rare for multinationals in Asia".

Progress in 2008

In the past year, 9,245 new employees joined ANZ globally. This includes 4,575 in Australia and 2,292 in New Zealand. During the reporting period, 5,030 left ANZ voluntarily (2,929 in Australia and 1,330 in New Zealand).

Recruitment and retention
	2008		2007
Country	Joined ANZ	Left ANZ (voluntary)	Joined ANZ	Left ANZ (voluntary)
Australia	4,575	2,929	4,722	2,909
New Zealand	2,292	1,330	1,666	1,109
Asia	593	175	2,422	1,640
EMEA	69	18
India	1,212	422
Pacific	504	156
Total	9,245	5,030	8,810	5,658

Total redundancies
Country	2008
Australia	256
New Zealand	80
Asia	3
EMEA	5
India	0
Pacific	0
Total	344

Annual total turnover rate by general and age*
Country	Female	Male	< 30 years	30-50 years	> 50 years	Total
Asia	12.70%	13.30%	12.60%	12.90%	16.40%	12.97%
Australia	17.40%	17.63%	26.73%	14.16%	13.28%	17.50%
India	25.66%	19.40%	22.49%	20.08%	51.10%	22.00%
New Zealand	15.32%	14.35%	24.55%	11.39%	11.15%	14.97%
Pacific	8.90%	8.80%	9.60%	8.50%	6.60%	8.89%
EMEA	13.00%	12.30%	23.60%	13.10%	6.10%	12.60%

* Total turnover includes voluntary and involuntary staff turnover

The future

On 9 September 2008, ANZ CEO Mike Smith announced a new customer-centric business model and structure for ANZ that will accelerate our progress towards becoming a super regional bank (PDF 44kB). The new structure is effective 1 October 2008 and the new business model will be established progressively throughout ANZ during 2008-09.

As we move to make our structure simpler, it is inevitable that some staff roles will change or may no longer be required. If people are significantly impacted we will support them. We also expect that the changes will have little impact on our branch and call centre people and will largely be complete by the end of 2008.

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