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Allianz Diversity Strategy Lori Callahan General Manager Liability and CTP Claims
© Copyright Allianz2 Who is Allianz? Allianz Australia -One of Australia's largest General Insurers -Serving over 2 million Policy Holders and over 50% of Australia's top 200 BRW Listed Companies -3,300 Employees Locally Allianz Group -Largest Property & Casualty Insurer in the World -75 million customers in 70 Countries -172,000 Employees Globally
© Copyright Allianz3 Group Diversity Strategy Global Diversity Council - Established in 2007 - To establish diversity as a worldwide goal at Allianz Why diversity? - Fully tap into workforce talent capabilities - Diverse Teams positively impact performance But Also Overcomes Basic Business Challenges: -Top quality resources in order to compete in a highly competitive business -Shrinking and Aging workforce -Growth “What is the Motivation for Diversity?” Survey of Allianz Managers: -“Performance of my team” -“Attractiveness to best talent” -“Competitiveness” -“Customer needs”
© Copyright Allianz4 Group Diversity Strategy Focuses on three areas: 1. Diversity Policy -Discrimination, Equal Opportunity, Complaints/Grievance Procedures and Staff Education (Cultural Diversity Days) 2. Customer Diversity -Diverse Markets and Consumers (eg Islamic ‘Takeful’ Insurance) 3. Women in Management -Capability Development first and Recruitment second
© Copyright Allianz5 Group Diversity Strategy 1. Diversity Policy Highest Positively Ranked Question on Allianz Australia’s Cultural Survey: “Allianz is a safe environment to work in e.g. free of sexual harassment, discrimination etc.” 2. Customer Diversity Many programs and initiatives 3. Women in Management Equal Opportunity for Women in the Workforce Agency ‘Employer of Choice for Women’
© Copyright Allianz6 Why women? First some Statistics: -52% of the Population -50% of the Workforce -60% of new University Graduates -80% of the Buying Decisions -50% of all Businesses are Owned by Women
© Copyright Allianz7 Why Not? Allianz SE Board: “If we are looking for high performance individuals to bring problem solving ability and enhance the quality of management, we cannot afford to ignore the capability and potential of women.” “Not logical for management to be under-represented in 50% of the workforce.” “We cannot afford to lose out on this input in management.”
© Copyright Allianz8 Why Not? 4 recent studies found a link between Gender Balance and Performance: More women in leadership results in Stronger Financial Results 1.Catalyst 2.McKinsey & Company 3.French Study 4.Vietnam Study
© Copyright Allianz9 Is it Just Talent? Do Greater Numbers of Women Make a Difference? 2002 Canadian Conference Board Report - Link between women on boards and good governance credentials -Conflict-of Interest Guidelines -94% of boards with 3 + women -58% of all male boards -Conduct Formal Performance Evaluations -72% of boards with 2 + women -49% of all male boards -Gender Balanced Boards -Pay more attention to audit and risk controls -Considered needs of more categories of stakeholders
© Copyright Allianz10 There is Risk Women may be the same as men Men may become alienated Women view strategy cynically
© Copyright Allianz11 How is Allianz Achieving This Goal? Intended Outcomes: -Increase number of Women in Talent Pipeline -Increase promotions of Women into Senior Roles -Increase in Rate of Return-to-Work Mothers Activity: 1. Survey of Women in Management 2. Develop Flexible Workplace Strategy 3. Diversity metrics include in Senior Management Targets 4. Diverse Candidate Panels used for critical positions
© Copyright Allianz12 1. Survey - What would assist? Mentoring Networking Opportunities Leadership Programmes Flexibility - not Balance Visibility
© Copyright Allianz13 2. Develop flexible workplace strategy Part Time Job Sharing Work from Home Measuring and Reporting by Business Unit Higher now than at all time since Measured
© Copyright Allianz14 3. Senior Management Targets Diversity metrics included in Senior Management Targets -Demonstrate activity -% KPI (not quotas)
© Copyright Allianz15 4. Diverse candidate panels used for critical positions All senior position recruitments now include a woman
© Copyright Allianz16 Practical Examples of this for Allianz: Example of a Recruitment Ad: “Do you have a home of your own, a family and now would like to have a job close by? Great – because if you display qualities such as resilience, diligence, empathy, and ambition as a matter of course in your day-to-day family life, you have a lot in common with our successful employees.” “If you want to embark on a new career, we offer you attractive opportunities, a work place close to home and an interesting job at Allianz.”
© Copyright Allianz17 Practical Examples of this for Allianz: Recent Tender for Legal Panel Asked: “As a global company, Allianz recognises the benefit of diversity in its workforce and customer base. Describe how your firm recognises and leverages the benefits of diversity.”
© Copyright Allianz18 Is it Only Insurance? 70% of the Law Graduates are Women 20% of the Law Partners are Women Even once you “make it”, there are problems: Survey on Women in Court – Law Council of Australia “Anecdotal evidence that Gender briefing patterns exist in the legal profession.” Full results in October
© Copyright Allianz19 The “BIG” Issue “On Ramp – Off Ramp Careers” -Re-entry after Maternity Leave -Women more impacted by: -Child Care Gaps -Elder Care -Sudden Family Illness Helen Allchurch Research -Women need to be asked to return to work -Mere presence of other women makes a difference to the willingness of women to express their need for flexibility
© Copyright Allianz20 What are lawyers doing? Active Women Lawyers Associations (networking, mentoring, issues, supporting women in roles) Formal Women’s Network Programmes e.g. TressCox’s Connected Women’s Network – Objective: to Create Forum for Female Oriented Networking International Women’s Day Activities
© Copyright Allianz21 What can you do? Listen Ask an “Off Ramp” Female to come back to Work Offer Flexibility without being Asked Calculate Your Own Diversity Statistics Brief a Female Barrister Add Diversity to Tenders Be Visible Be a Mentor Be a Role Model Be Flexible Create a Network Network Yourself
© Copyright Allianz22 Conclusion
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