Diversity ANZ Bank Essay

After analysing the ANZ potpourri insurance polity, I collapse identified two key business objectives they be trying to pursue. The freshman universe the ageing community deep down Australia and the second being an multinational expansion into Asian economies. long timeing PopulationStatistics show that Australia has an increasing population of elderlys from the age of 50 and over. It is estimated to increase to 57% of the node population by 2021, making it a large and therefore important market part for the business overall. With this in mind, ANZ contribute implemented strategies deep down their diversity policy that bequeath enable them to better understand the ageing demographic and obey to their specific financial needs.By integrating mature age workers inwardly their culture, ANZ atomic number 18 able to retain certain skills and experiences from older plightees that the younger employees may non yet perk up. This provides ANZ with a great advantage by b eing able to effectively leave with senior nodes and increasing their overall customer base. Furthermore, they have implemented the Career adjunct Policy that enables senior employees to maintenance working on a Part-Time basis, concentresing on their senior customer base. To coincide with this policy they have developed a hideaway Banking Specialist Program that provides extensive training for these employees some the 55+ customer demographic and their specific needs.International Expansion (The Asian Century)ANZs apostrophize to cultural and ethnic diversity can be get offly connect to their segmented markets finishedout Australia, New Zealand & Asia with the Asian economies being the primary focus of attention. The need to expand into the Asian market is a big quantity for Australian banks, such as ANZ, as reports suggest that the overall Asian output has doubled in just under 60 years. Reports similarly suggest that this is set to continue good into thefuture, pre senting huge opportunities for Australian business.By encouraging employees with various ethinicities into senior type roles, they are able to incorporate a lot easier within a certain culture which will in turn enable them to better undertstand the batch and the market. A policy ANZ have put in place that supports the Asian market integrating is the AsianLink Taskforce. This is designed to provide a capable workforce to help encourage the development of an Asian capable workforce, accelerate Asia focused strategies, invest in developing Asia capabilities and also to better educate about the Asian century.Age Ageing populationBy employing mature age workers and implementing the Career Extension Program and Retirment Banking Specialist Program, ANZ have been able to gain a warlike advantage over other banks that will allow them to effectively communicate and engage with their senior target market by providing them with the right sparing advice to suit their current stage of li fe. Furthermore, by retaining mature age workers within the company culture, through with(predicate) the extension program, they are minimising staff turnover and retaining their skills by not replacing them with other staff.Cultural Background & EthnicityAs mentivirtuosod earlier, ANZs cultural & ethnic diversity approach provides them with various benefits that allows them to easier integrate into advanced markets and cultures, such as the Asian economies mentioned. Its not only about having a various(a) workplace culture, but it is about also promoting people with different cultural backgrounds into senior management type roles to esnure the appropriate leading is implemented within a specific culture.Recognizing and valuing the diversity of employees within an cosmos is very crucial. The reason being is that different employees from different areas of the world have different talents and skills which they naturallybring to the table. These differences provide ANZ with a str ong and diverse team which gears the operations of the institution in the right direction.As an ANZ customer, I witness this first hand every single time I walk into one of their branches. I truly consider they are doing a great job in creating a diverse workplace.I believe that ANZs diversity policy is a good example of how a policy should be structured. It is easily laid out and the sub headings are aristocratic to navigate through to find the desired information soulfulness maybe looking for. It endevours to target a range of key issues that bring forth a diverse workplace that coincides with governing bodyal goals, and provides specific policies and measures that will enbable them to achieve these. intimately structured with an easy accrue througout navigation. This refers to the actual design of the website. Professionaly written and easy to understand.A continually evolving connection throughout the put down. By this I mingy that as you navigate through the policies, th ey naturally seem to coincide with one another, and the measures in place throughout. This can be related to the structure and flow (design of website too), but focussing on the evolvement of policies and measures as you continue to click through the document.Some very forward thinking policies and measures.A complete document with more than enough information for the general public to understand their goals and plans of action. comport point of contact to Corporate Affairs, providing the general public with a discover and address for mail enquiries as well as a direct phone number to this person. Also has a feedback email account and a link to general enquiries. Subscription service to keep up-to-date with all sustainablity and diversity policies.Compared to the other 3 big banks, the ANZ website looks very outdated and almost incorporates a 90s style vibe. It is well structured but does overlook a new-made approach.Social Media hyperlinks look outdated and are not as prominent compared to the other big bank wesbites. I notice ANZ are notembracing social media enough, which has been proven (especially for banks) to be a successful integration amongst the general public. Also, compared to the other banks Facebook pages, ANZ has the least amount of likes and following by a siginificant number. I would highly root on ANZ do a website overhaul in terms of making it look more modern and culturally fitting as this current wesbite comes across too testicle and not engaging enough to the general public. However, I would not transmute the overall structure as it is quite creative. I would also recommend they make their social media links more prominent on the website to bring forward embrace the modern culture.Overall, ANZs diversity policy can be considered very effective. They have really embraced diversity within their nerves culture and have set benchmarks in doing so. For example, their inclusivity of sexual orientation within their policy and support f or the LGBTI (Lesbian, Gay, Bisexual, Transgender & Intesrex) community is unparallel to any other organisation I have researched. They work closely with a not-for-profit organisation called vanity in Diversity that provides Australian organisations with key information in achieving an comprehensive policy with the LGBTI community. As well as this, they complete the Australian study Equality Index which helps them gather results to further support their LGBTI agenda. The Australian study Equality Index is considered to be the only external benchmark for inclusivity of the LGBTI community.ANZ have also got an excellent program in place for recruiting and providing opportunities for Indigenous employees through their Indigenous Action Plan. This is a strategic goal for the company, as well as a chance to provide underpriveleged Indegenous Australians with an opportunity for employment. To ensure that the policy is being adhered to, and that targets are being achieved, it is monito red by an Advisory Group, which is part of ANZs Australian Division Advisory Council. The group ensures that the objectives are relevant and are being achieved. As a result of these actions, ANZ have been able to employ and retain many Indigenous Australians within their workforce and maintain the organisations diversity. The results for 2013 indicate that a total of 93 Indigenous Australians were minded(p) traineeshiproles, with a total of 58 being recruited as employees of the organisation.