08/03/2017 - General News
Today on International Women’s Day Z is celebrating the women of the company and reflecting upon how much better our firm is by having such talented people working with us.
Z has practices in place to ensure our women are treated equally and fairly that include:
• Coaching for mothers returning from parental leave from other mothers who have been through the same experience.
• Parental leave at rates higher than legal minimums, topping up the primary carer to their full pay for the first 18 weeks of parental leave, with return to work bonuses to ease the financial one-offs when transitioning back to work and 10 days paid leave for the other parent.
• Z’s membership of Diversity Works NZ and attending women’s leadership conferences to access further outside in thinking.
• Flexible working.
• In our recruitment, using psychometric testing, diverse interview panels, and awareness of unconscious bias to get to better decisions.
Avoiding gender bias (one way or the other)
This has been a feature of Z’s executive people processes for many years. For example, before finalising decisions during executive team meetings, Z has a step to ensure there is no systemic bias for or against women. This relates to decisions around performance rating calibration, Z internal awards, talent management and succession planning, development opportunities and appointment to key roles.
We’ve already seen these processes are making a difference. Our Chief Executive now has four women as direct reports (40%) up from two in 2013. Furthermore women are equally represented in the upper tiers of bonus pay-outs – in some years being more than 50% of the population in the top ‘Extraordinary’ category. At the Board level we have three women directors (42%) whereas it was zero in mid-2013.
Every two years Z’s People and Culture team run diagnostics to check there is true pay parity in Z, and where there is not they provide the Chief Executive with explainable factors. Our succession planning and talent management is the intervention to ensure that there are both women and men applying for jobs at all levels of the business and more women in roles at higher career levels.
More work to do
We know there is more to do at Z so we are close to launching our Diversity and Inclusion Stand and this obviously includes gender diversity. The implementation plan for the period through to 2020 will include actions specifically targeted at women. Some of this will be to continue current actions, and some of it will be new actions to close out existing gaps or ones we are now more mindful of.