Ageing populations

Our approach

Valuing mature-aged workers

We aim to create a culture where mature-aged workers and their experience are valued. We want to retain skills and experience, increase our talent pool, and build a workforce that reflects our customers and the community. By 2012, it is estimated that one in six employees in Australia will be over the age of 55.

In Australia, the 50+ age group also makes up a significant proportion of customers, and is likely to increase to 57% by 2021, making it an increasingly important customer segment for our business to service effectively. Our research indicates the 50+ segment are looking for a bank that listens to their individual needs and provides overall solutions based on their individual life-stage needs.

We have an active role to play in attracting and retaining mature-aged employees who reflect this customer demographic, this will also help us in building confidence, and instilling trust and approachability with our customers.

Our Career Extension Policy guarantees part-time work for individual employees aged 55 and over; and in 2010, we developed a Retirement Banking Specialist program that provides specialist training to Personal Bankers about customers aged over 50, including their life-stage and financial needs.

2011 results

The global workforce is ageing rapidly, and it is estimated that by the end of 2012 the number of workers in the Australian workforce aged 55+ will increase by 14%, in contrast to the number of workers aged 25-54 increasing by only 5%.

Currently, almost 4,000 ANZ employees are aged 55+ meaning key skills and experiences of older workers may soon be lost to our business and we must put in place programs and initiatives to provide our employees with the support that they require to achieve a healthy work/life balance.

We continue to track globally the number of employees aged 55 years or over across our region.

ANZ employees over 55 years or over (30 September 2011)

Country 55+ 55+ and full-time 55+ and part-time 55+ and temporary Annual turnover of 55+
Australia 7.1% 5.9% 14.6% 0% 7.2%
New Zealand 9.0% 8.9% 15.2% 0% 8.2%
Asia 0.8% 0.9% 12.5% 0% 1.1%
Pacific 1.6% 1.7% 0.5% 0% 3.7%
India 0% 0% 0% 0% 0.1%
Europe 5.2% 4.7% 18.2% 0% 12.8%
America 18.9% 18.8% 50.0% 0% 28.6%
Middle East 0% 0% 0% 0% 0%

The future

Over the coming year, we have set ourselves a goal to develop and commence implementation of a global approach to improving age diversity across our business.

2010 results

The global workforce is ageing rapidly, and it is estimated that by 2012 the number of workers in the Australian workforce aged 55+ will increase by 14%, in contrast to the number of workers aged 25-54 increasing by only 5%.

In line with external trends, the average age of retirement at ANZ has been increasing for many years, from 54.8 years old in 2001 to 60.8 in 2010.

We continue to track globally the number of employees aged 55 years or over.

ANZ employees over 55 years or over (30 September 2010)

Country 55+ 55+ and full-time 55+ and part-time 55+ and temporary Annual turnover of 55+
Australia 9% 58% 42% 19% 8%
New Zealand 11% 77% 23% 8% 9%
Asia 1% 100% 0% 15% 1%
Pacific 4% 100% 0% 5% 4%
India 0% 0% 0% 100% 0%
Europe 9% 84% 16% 5% 9%
America 21% 95% 5% 0% 0%
Middle East 33% 100% 0% 0% 0%

The future

Our focus will be to review and potentially redesign jobs in a way that is attractive to this segment, and ensure that we continue to promote a culture that allows and supports flexibility for mature-aged workers.

2009 results

We continue to track globally the number of employees aged 55 years or over.

ANZ employees over 55 years of age (30 September 2009)

Employees

 Australia New Zealand Asia Pacific India EMEA*
Over 55 years of age 8.80% 10.35% 2.30% 4.40% 0.00% 17.30%
55+ who are full time 57.00% 76.83% 100.00% 98.90% 0.00% 100.00%
55+ who are part time 43.00% 22.41% 0.00% 1.10% 0.00% 0.00%
55+ who are temporary 0.00% 0.75% 0.00% 0.00% 0.00% 0.00%
Annual turnover of 55+ 9.60% 25.22% 3.50% 7.60% 0.35% 0.00%

* EMEA refers to Europe, Middle East and Africa

2008 results

We continue to track globally the number of employees aged 55 years or over.

ANZ employees over 55 years of age (30 September 2008)

Employees

Australia

New Zealand

Asia

Pacific

India

EMEA*

Over 55 years of age

6.61%

10.66%

1.30%

2.30%

0.25%

11.40%

55+ and full time

57.43%

69.80%

1.30%

2.10%

100.00%

10.80%

55+ and part time

40.76%

29.73%

0.00%

0.30%

0.00%

0.30%

55+ and temporary

1.81%

0.47%

0.00%

0.00%

0.00%

0.30%

Annual turnover of 55+

15.92%

12.69%

21.05%

10.64%

51.06%

9.20%

* EMEA refers to Europe, Middle East and Africa