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STRAT
EGIES F
OR GENDER
DIVERSIT
Y
ARE YOU R
EADY – G
ETTIN
G THE B
ALANCE R
IGHT!
MS KATHRYN PRESSERWOMEN IN RESOURCES – SOUTH AUSTRALIACFO / COMPANY SECRETARYBEACH ENERGY LIMITED
PRESENTATION OUTLINE
• Background on Diversity – Is it an issue?
• Changes for ASX-listed entities•What is required•Helpful information to get you through•Going forward• The Big “Q” Word – Quotas• Women in Resources – South Australia
- What we are about• Questions
BACKGROUND ON DIVERSITY – IS IT AN ISSUE?• Women represent 45% of the workforce but account for only:• 11% of Executive Managers in the private sector• 10% of Board Members; and• 2% of ASX 200 Board Chairs
• Women’s presence in paid work remains largely restricted to lower skilled jobs
• In 2009 11 women made up:• 64.2 % of all higher education graduates;• 55.7% of all higher education students; and• 47.6% of all vocational education and training enrolments; and• Of those graduating with law degrees in 2009, 62% were women.
And research also show - that female Directors and Managers have a significant impact on board inputs and firm Management outcomes.
1 – ABS Labour Force Australia, Jan 2009
CHANGES FOR ASX-LISTED ENTITIES• New Corporate Governance Recommendation 3 -
effective for financial years commencing on or after 1 January 2011
• Boards of all listed entities should establish a diversity policy and disclose the policy or a summary of it
• CGC Recommendation 3.2 - The policy should include requirements for the Board to :• Set measurable objectives for achieving gender diversity;
and• Review both the objectives and the progress in achieving
them annually
CHANGES FOR ASX-LISTED ENTITIES - CONTINUED• CGC Recommendation 3.3 and 3.4 – Companies
must disclose in their Annual Report:• The measurable gender diversity objectives set• Progress towards achieving them; and• The proportion of women at three levels:• Board;• Senior Management; and• Whole of Organisation
WHAT IS REQUIREDEntities need to:
• Introduce appropriate procedures to ensure the policy is implemented effectively
• An internal review mechanism to assess the effectiveness of the policy
• The Board or nomination or remuneration committee should have a duty, at least annually to review and work on the relative proportion of women and men in the workforce at all levels of the entity and this obligation should be included in the Charter.
The onus is on entities to work out how best to present meaningful figures on the participation of men and women in the workplace and the roles in which they are employed.
HELPFUL INFORMATION TO GET YOU THROUGHFull Commitment:
• Commitment to diversity and articulating the corporate benefits arising from employee and board diversity;
• Commitment to promoting a culture that embraces diversity;
• Commitment to programs that assist in the development of a broader pool of skilled workers;
• Commitment to diversity in the selection process of staff at all levels
GOING FORWARDSet Targets
Review the Selection Process
Develop the Director Pool
Build the Executive Pipeline
THE BIG “Q” WORD – QUOTAS• Women on Boards and Chartered Secretaries Australia have
committed to a target of• 25% of diversity by 2012; and• 40% of diversity by 2015!
• The Commonwealth Bank have recently committed to a target of 35% for women in senior management by 2014.
• Rio Tinto has announced that a priority in 2011 is to improve the representation of women in senior management and the pipeline of female talent over the next 5 years.
• Oz Minerals have set quotas for 2011 of 1 Board Member and a target of 25% women across a number of employment bands by June 2011
• Quotas for boards are currently operating in Norway and France, with Spain and Germany currently considering such measures.
• Is Australia ready???
WOMEN IN RESOURCES – SOUTH AUSTRALIA - WHAT WE ARE ABOUTPurpose
The purpose of the group is to provide an opportunity for women in leadership roles within the resources industry to network, discuss common issues and to promote participation of women in the resources industry in South Australia.
Key Focus• Human Resources Forum• Mentoring Facilitation• Networking / Key speakers sharing their experiences within the
industry• Seen as a forum for senior women in the industry to promote more
women through the pipeline of women talent coming through
QUESTIONS??