Best Emp Absa

10 BESTEMPLOYERSTMSOUTHAFRICA BESTEMPLOYERSTMSOUTHAFRICA

The BusinessFounded in 1991 out of a merger between UBS Holdings, the Allied, Volkskas groups and parts of the Sage

Group, Absa began as Amalgamated Banks of South Africa. In 1992 this company purchased the Bankorp

Group, and in 1997 changed its name to Absa Group. It is listed on the JSE and its majority shareholder is

Barclays Bank PLC, which is based in the United Kingdom.

While South Africans are tightening their belts as the economy goes through a rough patch, Absa sees the

challenging economic climate as an opportunity to find new ways of adding value for its customer base

and colleagues.

‘Our business is to make our customers’ dreams come true, whatever they may be, through helping them with

funding or assisting them in increasing the value of their money,’ says Lawrence Mlotshwa, group HR director.

International StanceAbsa’s business is conducted primarily in South Africa, although the group also has equity holdings in

banks in Mozambique, Angola and Tanzania.

The People‘We believe in developing each person to his or her full potential and encouraging our colleagues to display

leadership qualities at all levels in the organisation,’ says Mlotshwa.

‘Our leadership framework focuses on moving us from a scarcity mentality in all we do to one of abundance.’

adds Bronwyn Edwards, HR leadership programme manager, explaining that Absa has developed an

attitude that encourages ‘leadership of abundant talent’. She notes that this is about a shift from scarcity

thinking to a position of embracing abundant possibilities.

Absa Group Limited 170 Main Street, Johannesburg 2001

Postal address: PO Box 7735,

Johannesburg 2000

Tel: +27 (11) 350 4000

Fax: +27 (11) 350 4009

E-mail: [email protected]

Website: www.absa.co.za

CEO: Steve Booysen

Offering a complete range of banking, bancassurance and wealth management products and services,

Absa Group Limited (Absa) is one of South Africa’s largest financial services companies and a subsidiary

of Barclays Bank PLC.

OutlineAn integrated financial services company, Absa offers investment, retail and commercial banking, as

well as insurance products. The company is currently involved in a number of joint ventures, allowing it

to expand its business into new markets. While the company is not immune to the current tough global

economic conditions, it sees them as an opportunity to drive innovation.

Biggest PlusAbsa sees its people as a competitive edge that will allow it to become the pre-eminent bank in

South Africa and the African continent. Absa’s colleagues also enable it to be a key contributor in the

communities in which the bank operates.

Biggest ChallengeIn the current global economic climate, Absa’s greatest challenge is to keep its people energised

and motivated and to remain an innovative market-leader in human resources practice and product

development.

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Absa’s view on recruitment is that finding the ‘right’ people is more about ensuring a cultural fit than it is

about a candidate’s specific training background, explains Sara Thompson, head of HR Personal Bank. ‘If

a person shows potential, we will provide the rest of the development,’ she says. ‘We put people into our

academies and train them on the job, off the job and through performance coaching. We take people with

innate ability and set them off on their careers.’

Tania Auby, HR communications business partner agrees and adds that, ‘formal coaching takes place at all

levels in the organisation through our performance development process and between line leaders and

colleagues on a day to day basis. Peer mentorship and coaching is also a practice within the Absa culture.’

In this way, Absa has combined the recruitment function with the induction programme and the people

development strategy. ‘We are very committed to being a talent-powered organisation,’ stresses Phil Mnisi,

head of talent management. ‘It’s our people that create the energy and keep our organisation growing.’

‘We recruit internally first and we encourage cross-functionality, so an individual may move across various

fields,’ says Nadine Drutman, head of compensation and benefits, citing the fact that 60% of available

positions at Absa are filled internally, a figure she attributes to the company’s size and diversity.

Thomas Mashaba, head of employee relations, cites the development of the comprehensive Absa Live Well,

Work Well wellness programme, which is available to all colleagues and members of their families as further

proof of the company’s dedication to its people.

Company Culture and StyleThe Absa company culture is built on a set of core values. These include demonstrating integrity in all

actions, striving to exceed the needs of customers, valuing Absa people and treating them with fairness,

taking responsibility for the quality of one’s own work, and displaying

leadership in all that is done.

‘Our values are lived; they’re not just framed on the wall,’ stresses

Mashaba. This is illustrated in the way that colleagues interact with

each other and with Absa customers. For example, the Absa choir

festival is an eagerly anticipated annual event in which Absa colleagues

can express their extramural talents through singing together. ‘We’re

interested in the whole person,’ says Mlotshwa. ‘We recognise our

colleagues’ talents, even outside of the working environment.’

An annual employee opinion survey gives colleagues the opportu-

nity to voice their feelings, and despite not being compulsory, is

widely supported. The 2007 survey saw 98% of colleagues partici-

pating, demonstrating the high levels of engagement of which

Absa is so proud.

Talent Management and Development‘Our approach is that we recognise all our colleagues as talented,

and we want to support that talent,’ says Mlotshwa. In line with this,

regular transparent talent review sessions are held. These discussions

centre on finding the best possible role for each employee within the

company. Absa’s performance development process, which is linked

to the company’s business objectives, is well entrenched in the

organisation and boasts a success rate of 99%.

Formal coaching and mentoring take place at all levels of the

organisation. Absa also offers various training and development

initiatives, including the graduate development programme, learner-

ships, the junior managers training programme (JUMP) in partner-

ship with academic institutions. The company's flagship projects

include the Absa Development Initiative (ADI) and the executive

MBA, presented by four international universities, offered to high-

potential colleagues in management.

“We care about our people and live by our values. In Absa we talk about

our four Cs – caring, courageous, competitive and consistent. We

focus on wellness, diversity and disability and involve our employee’s

families through unique initiatives, bursaries and disability support. My

door is open to all colleagues. In a nutshell, Absa operates on people-

centred values.’

– Steve Booysen, CEO

‘What stands out for me is that Absa provides all colleagues with

numerous opportunities for personal development and career growth,

which is motivational and enables a high level of job satisfaction.

There are also a variety of employee and community initiatives which

demonstrates how much Absa really cares.’

– Fayelizabeth Foster, GM: Personal Bank Rewards

Group Executive CommitteeSteve Booysen

– Group Chief Executive (CEO)

Robert Emslie

– Chief Executive Absa Corporate

and Business Bank

Venete Klein

– Executive Director

Happy Ntshingila


Peter Mageza

– Group Chief Operating Officer

Jacques Schindehütte

– Group Financial Director

Louis von Zeuner

– Chief Executive Retail Bank

Willie Lategan

– Chief Executive Bancassurance

Alfie Naidoo


John Vitalo

– Chief Executive Absa Capital

David Hodnett

– Group Risk Director

Lawrence Mlotshwa

– Group Human Resources

Director

LAwREnCE MLOTShwAGroup Human Resources Director

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As a subsidiary of Barclays, many Absa colleagues enjoy the opportunity of gaining international experience,

and the company learns from international best practice. A three-pronged bursary scheme is available, to

colleagues and their children, as well as externally to learners.

Salaries, Rewards and Benefits‘Every large organisation offers a basic level of treatment,’ says Drutman. ‘We have upped the ante. For

example, we’ve relooked our maternity leave policies. Previously, someone had to be in the employ of Absa

for more than a year to qualify for paid maternity leave. Now, you’re covered on a full salary for a full four

months maternity leave from the time you arrive at the organisation. Our leave allocation is generous. It

used to be that people at junior leave were entitled to 18 days leave a year, and then, after three years, they

moved to 23 working days. Our new policy is that everyone is entitled to 23 days annual leave.’ Paternity

leave is available, as is maternity leave for mothers who are adopting a child.

Absa colleagues requested medical aid assistance and management responded by providing a R6 000 per

annum medical aid subsidy for every employee, from 2007. This has been well received, particularly with

colleagues at the lower end of the earning scale. Tele-work and flexible working hours are also available.

The Absa disability support fund allows colleagues and their families to apply for financial assistance for

disability support or assistive devices, such as hearing aids and wheelchairs.

Other support services available to colleagues include an integrated HIV/Aids programme that covers

testing, counselling and treatment offered through Absa’s medical aid provider, Bankmed.

The Live Well, Work Well programme offers colleagues wide ranging support with life issues via telephonic,

face-to-face or internet communication, while wellness centres, gyms and financial workshops aim to help

colleagues live and work healthily. Through Bankmed, Absa offers an integrated HIV/Aids programme that

covers testing, counselling and treatment.

The Absa Prestige Awards, the company reward and recognition scheme, encourages colleagues to

nominate each other for excellent service and performance. The custodian of the Absa Prestige Awards is

our CEO and he is quoted saying that ‘The Prestige Awards is one of my favourite events in the year and I

look forward to spending this evening with you and your partners in celebration’. These awards are

presented at an annual gala dinner, at which nominees win cash prizes, tax-free. Monthly Service Heroes

awards are also given to colleagues who deliver excellent service to customers.

Black Economic Empowerment (BEE)Absa recognises that as a key South African organisation it needs to play an important role in contributing

meaningfully to socio-economic transformation through BEE. In fact, the company’s attitude towards

transformation, which it undertakes in a manner that seeks to meet the needs of the present without

compromising the ability of future generations to meet their own needs, can be summed up in its pay-off

line: ‘Today. Tomorrow. Together.’

Absa concluded a BEE transaction with the Batho Bonke consortium and Absa’s employee share ownership

programme (ESOP) in 2004, ensuring that its shareholder base reflects the diversity of the South African

nation. Members of the Batho Bonke consortium include broad-based empowerment companies,

community-based development trusts or foundations, emerging entrepreneurs and groups promoting the

empowerment of women and the youth.

Absa subscribes to the Financial Services Charter (FSC) as aligned to the Codes of Good Practice, and has

embraced its reporting principles. The company is currently focused on entrenching a culture that will see

transformation highlighted as an imperative throughout the organisation. The 2007 FSC scorecard was

audited by KPMG, and Absa maintained it’s A-rating.

‘I love working for Absa for so many reasons. Firstly, the way Absa

believes in their value system, which carries them from day to day.

The people working here are very supportive and are like one big

family. Absa provides an environment that gives me security. I’m

proud to be part of the Absa Group.’

– Antonia Mohapi, Personal Assistant

‘It is definitely a pleasure for me to be able to work for Absa. The

company values are always kept very close to my heart and I practice

them in my personal life. Absa has given me the opportunity to do

work out of love for my community. I participated in the volunteer

week and it was a wonderful experience.’

– Rene Blom, Branch Host

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Responsible CitizenshipMembers of Absa’s CSI team, Riah Phiyega, group executive, and Jacqueline de Winnaar, manager group

public affairs, stress that Absa views corporate social investment (CSI) as a business imperative. The Absa

Foundation, Absa’s community investment arm, supports numerous initiatives across various categories,

encompassing education, training, and development programmes; the environment; job creation; arts and

culture; health and sport. Charities supported are those that centre on the upliftment of women in rural

areas through job creation; the implementation of HIV prevention programmes; taking care of HIV/Aids

orphans, the sick and the disabled; and providing educational services to South Africa’s youth.

The employee community involvement programme aims to encourage Absa staff to develop a spirit of

responsible citizenship, to get involved with grass-roots community projects and to participate voluntarily in

programmes such as Give as You Earn and the matched giving programme.

Stakeholder engagement plays a critical role in providing information for the work that Absa does in

communities. For this reason, the Group engages with key stakeholders such as communities, civil society,

the media, peers, interest groups and government through various platforms. To facilitate further awareness

among potential donors, Absa also publicises the works of its partners in provincial community and

stakeholder initiatives.

Facts & FiguresTotal number of staff employed

(full-time): 35 008 (As at

December 2007)

Annual turnover in rands for 2007

(RSA only): R55 123 million

Industry sector: Financial

Black colleagues: 58,8%

Black executive (senior)

management: 26,3%

Women colleagues: 65,7%

Women executive (senior)

management: 10,5%

Previously disadvantaged

The Future Absa is entering into 2009 boldly with a continued focus on maximising value amongst all stakeholder

groups through combining balance sheet optimisation with employee and customer engagement. Jacques

Badenhorst, group executive strategy and planning, reports that Absa seeks the recognition of its

shareholders by providing them with a superior share price rating from colleagues, by continuing to be an

employer of choice, and from customers by becoming the pre-eminent South African bank.

The heart of Absa’s business strategy going forward is the embedding of market leadership; defin-

ing competitiveness in chosen market segments; building a diversified business portfolio; and leading the market

in terms of people, process and operational excellence; as well as effective risk lifecycle management.

individuals in management: 34%

Absenteeism and sick leave

taken during the last financial

year: 1,74%

New SMME established /

supported: Absa is committed

to supporting and fuelling the

growth of SMMEs. There are

various initiatives underway

in enterprise development

and at the group’s sourcing

operations to maintain and

continually increase its

support of SMMEs.

Workplace accidents: 0.5%

Employee Assistance

Programmes: Absa’s Live

Well Work Well programme

is a free 24-hour toll-free line

that allows colleagues and

employee families to access

assistance in areas ranging

from health to finances,

diversity issues, stress, HIV/

Aids, and trauma counselling,

among others.

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Best Emp Absa