Diversity framework and policy

1. Application

1.1 Group

This framework and policy apply to Bendigo and Adelaide Bank Limited and its wholly owned subsidiaries (the Group).

1.2 Employees

It applies to all employees.

2. Philosophy

2.1 What does diversity and inclusiveness mean

Diversity is the mix of people with different backgrounds, attributes, beliefs, skills, knowledge and experience and the different perspectives this brings.

Inclusiveness is making that mix work, in a respectful way, and creating value from the differences.

2.2 Why are they important?

Diversity and inclusiveness are important for our people, our customers and communities, and our organisation. Therefore, encouraging diversity is the right thing to do.

Our corporate values provide a framework that guides the way we interact with each other, our customers, partners, shareholders, suppliers and the community. Our values are teamwork, integrity, performance, engagement, leadership and passion.

Our code of conduct provides the foundation for the way we do business – “we take pride in our reputation for dealing with our stakeholders with integrity and respect”.

Our values and code provide the foundation for our approach to diversity and inclusiveness.

Our people	We advocate an inclusive and welcoming workplace. As an employer, we aim to offer an environment where people are treated with respect, feel valued, and can achieve success, both for the individual and the organisation. We also recognise the importance of an appropriate work-life balance.
Our customers and communities	Our vision is to be Australia’s leading customer-connected banking group. We engage with customers and communities, by taking time to connect, listen and understand and build sustainable relationships. It makes sense to have a diverse team to be able to better understand and meet the needs of our diverse customer base and the communities in which we operate.
Our organisation	Our ability to deliver our “unique style of banking” is dependent on having the best people. We will only find these people by drawing from the broadest pool of candidates available. Attracting and retaining a diverse team of talented people positions our organisation for success – it creates both immediate business value and a sustainable organisation. It also contributes to our good reputation. So diversity makes good business sense and helps create value for shareholders.

2.3 Are they reflected in our organisation?

We are an inclusive organisation. However, the diversity of our customers and communities is not fully reflected in our organisation.

2.5 Why do we need to be proactive?

There has to be a conscious decision to make it happen and we need to be proactive in order to achieve the change required.

3. Principles

3.1 What are the principles?

The following principles are the basis for our diversity framework and policy.

Inclusiveness
Fairness
Merit
Excellence

3.2 Inclusiveness

Inclusiveness is making diversity work, in a respectful way, and creating value from the differences.
It involves creating a harmonious and supportive environment.

3.3 Fairness

Fairness is making sure that workplace practices encourage diversity and inclusiveness, removing barriers and treating all people equally.

3.4 Merit

Merit is making sure that decisions about recruitment, development, promotion and remuneration are based on skills, knowledge and experience.

3.5 Excellence

Excellence means organisational excellence. This means creating value from diversity to improve business outcomes and achieve our strategy.

4. Strategy and objectives

4.1 Strategy

We will implement a strategy for continuing to develop a culture that embraces diversity and inclusiveness.

The strategy will seek to pursue diversity and inclusiveness actively at all levels of the organisation.

4.2 Objectives

We will develop measureable objectives for achieving diversity and measure our performance.
As diversity is a broad concept, to make sure we approach diversity in a structured and achievable way, we will consolidate our efforts on identified priority areas.

5. Responsibilities

5.1 Board

Approve the following.
- This framework and policy.
- The strategy.
- The measureable objectives.
In relation to board diversity, set the policy, strategy and measurable objectives.
Annually assess our performance against the measurable objectives under this policy for employees and under the policy for directors.
Make sure that the annual report contains appropriate information about diversity and inclusion.

Note: This includes the information required under the ASX Corporate Governance Council’s “Corporate Governance Principles and Recommendations”. However, it is not limited to this information.

5.2 Governance & HR Committee

Make recommendations to the Board on the above.
Keep this framework and policy under review and make amendments to it as needed. Report to the Board annually on any amendments.

5.3 People and Performance

General

Promote diversity and inclusiveness in the workplace.

Framework and policy

Make recommendations to the Governance & HR Committee on any review and amendments to this framework and policy.

Strategy

Make recommendations to the Governance & HR Committee on diversity strategy.

Measurable objectives

Make recommendations to the Governance & HR Committee on measurable objectives under this policy.
Provide guidance and assistance to the organisation in the implementation of practices and policies to achieve measurable objectives.
Monitor progress on measurable objectives, and provide quarterly reports to the Governance & HR Committee.

5.4 People Development and Diversity Council

Promote diversity and inclusiveness in the workplace.
Provide input from across the organisation to assist People and Performance in formulating policy, strategy and objectives.

5.5 Executive

Promote diversity and inclusiveness in the workplace.
Embrace and advocate diversity.
Demonstrate inclusiveness in their teams and in their behaviour.
Approve this policy and framework, any changes to it and the strategy, before consideration by the Governance & HR Committee.

5.6 Leadership roles

Promote diversity and inclusiveness in the workplace.
Embrace and advocate diversity.
Demonstrate inclusiveness in their teams and in their behaviour.

5.7 Employees

Embrace and advocate diversity.
Demonstrate inclusiveness in their behaviour.

This policy was adopted by the Board of Bendigo and Adelaide Bank Limited on 31 May 2011.