Upload
warren-burns
View
215
Download
0
Embed Size (px)
Citation preview
Diversity & Inclusion in NAG UK
Hilary Crowe & Julie Wade, 23rd January 2007
2
Our Organisation Purpose
Fastest growing bank in the UKFastest growing bank in the UK
Customers all want to deal with us Bank everyone wants to work for
Maintaining our differentiation by playing a different game
Refreshing our capabilities by doing what we do, but doing it better
3
The Business Case for a Diversity & Inclusion Strategy
Diversity Objective: Create an environment where everyone can fulfil their potential and
differences are valued and leveraged Increase diversity of thought at all levels in the business, and channel this
as a catalyst for the innovation and differentiation required to deliver NAG UK’s Strategic Plan
Our start point was to develop the business case for a Inclusion & Diversity Action Plan in NAG UK which will:
Improve our share of the UK talent pool Help us to evaluate and use opportunities to gain greater share of the
diverse profit pools which make up the UK business and retail banking markets
Reduce the cost of undesirable staff turnover
4
Business Case : People & Talent in the UK
Ethnic minority populations are on average younger than white population and will therefore form an increasing proportion of new entrants to the workforce
Participation in education beyond age 16 is greaterthan for white students in every ethnic minority
In every ethnic segment females outperform males in GCSE exams a skew to White boys leaves us in the middle of the pack.
A higher proportion of the ethnic minority population graduates than is the case in the white population
Under-representation of ethnic minorities and women suggest we restrict our share of talent
5
Business Case: UK Ethnicity and Profit Pools
“Disposable income of UK Asians could be worth as much as £32+Bn annually.
It’s time to segment markets and segment them well!. Efforts at marketing to ethnic minorities in Britain are currently at an embryonic stage. Very few companies have considered ethnic marketing in the way that it is considered in the USA. It is hard to find a major UK company with a well defined multi-cultural marketing plan. Consequently there are inadequate strategic insights into the nature of the ethnic minorities market.” Nwankwo and Lindridge
Census 2001
The UK’s minority ethnic population grew by 53% between 1991 and 2001 to 4.6 million.
75% of the Indian population own or are buying their own homes compared with 70% of the white population.
There may be significant profit pools NAG UK is excluded from through lack of differentiated and empathetic offers – we should quantify value at stake.
6
British women control the purse stringsLOUISE GRAY BRITISH women lead The world when it comesTo controlling their financial affairs, and four in five are able to buy what they want without asking their partner for money, according to a new survey. It is not just in household finances that British women hold their own: they also own more investments, such as stocks and shares, than women in the eight other countries polled, including Japan, the United States and France.
The median disposable income of women in Scotland in 2005 was £119 a week, while in England it was £117, in Wales £113 and the median for the UK as a whole was £117.
Spending power: at £119 a week Scots women have most
Women's spending power is set to increase sharply over the next five years as more look to live
life to the full both before and after raising a family. A report by market analysts Datamonitor suggests women are staying single for longer and increasingly looking for a lifestyle that puts an emphasis on having fun. Women are
also looking to recapture some of that lifestyle after raising children, with women in their 50s looking to live as active a lifestyle as possible for as long as possible, the report says. As a result, the amount spent by women in Europe
and the US is expected to rise to 2,000bn euros by 2007, compared with 1,400bn euros in 2002.
Business Case: Profit Pools
Whilst females do not look for “women’s propositions”, they do value relationship aspects and networking opportunities more than men, in business and personal banking
7
Action Plan 2007
We have developed an action plan which:
• Has been shaped and owned by our Leadership Team
• Delivers quick tangible wins and provides a good foundation for subsequent years
• Identifies accountable individuals/sponsors for each action
• Considers appropriate scale and continuity of resource
• Ensures we can measure outcomes and assess success
Including:
• Diversity awareness and capability building
• Flexible Working Taskforces
• Recruitment and promotion capability
• Gender balance in senior and sales management roles
• Multicultural marketing
• Metrics
8
The Impact of the Employment Equality (Age) Regulations for NAG UK
9
Our Approach
• Collaborative: engagement with the union (Amicus), agencies, benchmarking with industry, legal
• Employers Forum for Age toolkit – set up project group (pensions, training, recruitment, employment policy, reward, processing) identified hotspots, external legal advice
• Amended policies/procedures/HR tools where appropriate
• Communications
10
The Impact
• Reviewed polices/procedures/toolkits to include ‘age’ e.g. equal opportunities
• Contracts – altered retiral age to 65 (pension age had already changed)
• Recruitment – e.g., application form, job description, job adverts, interviewing, agencies, graduate scheme, methods of application/testing, revised equal opportunities statement, reminders for recruiting managers
• Retirement - followed ACAS advice, introduced new process, standard letters, guidance for managers
11
Communications
• Identified employees 59+/60-65/65+
• Wrote to 59+ → retiral age no longer 60
• Wrote to 60+ → retiral age is 65 (no annual process)
• Wrote to 65+ → implement new retiral process
• Identified staff who ‘fell in between’ – letters re change of retiral age with sign off request
• Circular to all staff (also previous pension correspondence) pre-1st October
• FAQ’s
• Briefings for PAC, Business Partners (to their Leadership Teams), P&C
• E-learning module
12
?? Questions ??