Recruitment, retention and turnover

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Our approach

We aim to attract and nurture the very best people through our recruitment and retention strategies.

Our goal is to build a workforce that reflects the diversity of the communities in which we operate. We believe that the unique experiences, perspectives and contributions of our people are the key to our business success.

As we grow throughout Asia and the Pacific our long-term objective is to nurture a leadership team that is drawn from the regions where we are growing our business. 'Local' leadership will have a deeper understanding of the needs and expectations of potential customers in the region. It is a strategy that makes logical business sense and is the best way to create a sustainable workforce for the long-term. To support our strategy we have established programs such as Lead the Future in the Pacific.

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. Across our region, our Recruitment Policy also aims to promote gender diversity at all levels of our business.

In 2011, ANZ implemented a global Redeployment, Redundancy and Retrenchment Policy that applies to all our countries of operation, which replaces various policies that were in place across the Group.  The global policy is supplemented by country-specific schedules containing notice periods and severance payments as applicable in each location.  The policy confirms that our primary objective for employees whose roles are no longer required at ANZ, is generally to find those employees new roles within the business. In Australia, for example, when change in the business has resulted in redundancies we have been able to redeploy around 80% of people who wanted to stay with ANZ. 

Notice periods and severance payments vary in each location in line with local legislation, industrial instruments and general market practices.  For example, in Australia, we generally provide employees who are impacted by significant operational changes with at least 12 weeks notice of redeployment and retrenchment, plus severance payments depending on length of service.  Redeployment and retrenchment procedures are specified in the ANZ Collective Employment Agreement 2010-2012 (Australia). Another example is Singapore, where employees whose roles are made redundant may receive up to 12 weeks notice of redeployment and retrenchment, plus severance payments depending on length of service.

2011 results

During 2011, 10,942 employees joined ANZ. This includes 4,320 in Australia, 1,573 in New Zealand, and 5,049 in Asia Pacific. During the reporting period, 7,385 left ANZ voluntarily (3,040 in Australia, 1,244 in New Zealand and 3,101 in Asia Pacific).

The table above represents the number of employees who were unable to be redeployed within the ANZ group, and were therefore retrenched. The number of retrenchments due to the centralisation of roles to our regional hubs on in People - Offshoring.

* Total turnover includes voluntary and involuntary staff turnover.
** Four persons left our Middle East business voluntarily during the year. This is 89% of our total population in this region.

2010 results

During 2010, 10,891 employees joined ANZ . This includes 3,914 in Australia, 1,188 in New Zealand, and 4,640 in Asia Pacific. During the reporting period, 5,981 left ANZ voluntarily (2,799 in Australia, 1,075 in New Zealand and 1,246 in Asia Pacific).

* Total turnover includes voluntary and involuntary staff turnover.

2009 results

Restructure

A major restructure of our business (PDF 43kB) was implemented throughout 2009. While the new structure has helped deliver a more efficient business - creating fewer management levels and maximising the sharing of resources and expertise across the organisation - it also involved significant change for many employees. In addition, around 1200 people were retrenched in Australia and New Zealand.

Staff received regular updates on the rationale for the change, processes for reviewing businesses and assessing staff for available roles, as well as information on the development of new teams and structures.

People impacted by job losses were offered support to help them find roles inside and outside ANZ, including counselling services, career advice and assistance with job searching. Around 465 employees participated in New Beginnings workshops, providing a supportive and safe environment for teams impacted by the restructure to air concerns and better understand their role in the organisation.

Throughout 2010, our senior leaders will work with their teams to encourage a deeper understanding of ANZ's business strategy, its relevance to each area of the bank and how individuals and teams can contribute to the organisation's goals.

Recruitment and retention

In the past year, 7,590 new employees joined ANZ globally. This includes 3,096 in Australia and 1,013 in New Zealand. During the reporting period, 4,304 left ANZ voluntarily (2,138 in Australia and 830 in New Zealand).

* EMEA refers to Europe, Middle East and Africa
** Total turnover includes voluntary and involuntary staff turnover

2008 results

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

* Total for Asia, EMEA, India and Pacific

Total redundancies

Annual turnover rate by country, gender and age^

^ 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.