Strategies for gender diversity

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Strategies for gender diversity

• ARE YOU READY GETTING THE BALANCE RIGHT!

MS KATHRYN PRESSER WOMEN IN RESOURCES SOUTH
AUSTRALIA CFO / COMPANY SECRETARY BEACH ENERGY
LIMITED
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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

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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
• Womens presence in paid work remains largely
  restricted to lower skilled jobs
• In 2009 1 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

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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

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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

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What is required

• Entities 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.

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Helpful information to get you through

• Full 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

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Going forward

• Set Targets
• Review the Selection Process
• Develop the Director Pool
• Build the Executive Pipeline

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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???

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Women in Resources SOUTH AUSTRALIA - What we
are about

• Purpose
• 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

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Questions??