ANZ - outlining issues approaching its HR Division

Essay by ifonlyiwasherUniversity, Bachelor's October 2006

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Company Background

The Australia and New Zealand Banking Group is an international financial services group providing a comprehensive range of banking and financial services in its core markets of Australia, and New Zealand. Founded in Melbourne in 1835, The Bank of Australasia as it was originally known - has grown to become a service provider for more than 6 million personal, and corporate customers worldwide. (About ANZ, viewed 18/10/06)

In 2005, it was cited as Australia's bank of the year for its sixth consequence year, with the organisation recording a $3, 018 million profit, and increase of 7% on the previous year. It was also awarded the leading large Australian organisation for the Advancement of Women. Worldwide it possesses more than 1200 branches, over 700 of those located in Australia. Employing over 30,000 people globally, the Human Resource department or as the ANZ like to call it, People and Capital division, plays an integral role.

(People, viewed 18/10/06)

The organisation also has a strong grasp of its corporate responsibilities. As part of its dedication to the community, the ANZ has introduced a number of activities aimed at improving the financial literacy of the population, educating people in the financial choices available to them. It also participates in recycling, pursues avenues to minimise greenhouse emission, and provides education for staff on the value of sustainability. (Environment, viewed 18/10/06)

HR Challenges

The ageing workforce


In December 2005, the ANZ required that all employees participate in a group wide diversity survey, providing a realistic snapshot of how the employees viewed any diversity related workplace issues. One of the major findings from the survey showed that while employees felt that ANZ had great policies, in practice they fell short. (Diversity, viewed 19/10/06)

In response to both employee demands and ageing workforce, the...