 |
Cultural sustainability
Embedding talent management
Talent attraction
Employer branding and the employee value propositionEnhancing Nedbank Group's employer brand remains a key priority and efforts in this regard continued in 2010 via a number of key employer branding publications. The group also actively explored partnerships and associations with both the professional and youth chapters of black professional associations such as the Association of Black Securities and I nvestment Professionals (ABSIP ), the Association for the Advancement of Black Accountants of Southern Africa (ABASA) and the African Women Chartered Accountants Forum (AWCA). The continued sponsorship of Students I n Free Enterprise (SIFE) and the Sci-Bono M aths and Science Week further served to position the group as an employer of choice.
Recruitment and selection
Altogether 36 976 external candidates applied for jobs on Nedbank Group's e-recruitment system in 2010 (2009: 40 370), many in response to the 581 (2009: 427) positions that were advertised during the year. A total of 2 844 external appointments were made, while 2 751 internal appointments to higher occupational levels occurred.
In addition, 218 appointments were made as a direct result of existing staffmembers acting as employer brand ambassadors and referring suitable candidates for vacancies.
Recruitment and assessment processes were monitored to ensure that any barriers to fulfilling the transformation strategy were removed. A total of 315 African females and 305 African males, at both senior and middle management levels, were appointed to positions within the group.
In an effort to ensure appropriate broad-based black economic empowerment (BBBEE) spend, focus was placed on partnering with more black-women-owned recruitment vendors as well as other recruitment agencies that specialise in the sourcing of black talent and people with disabilities.
The graduate recruitment campaign saw Nedbank Group actively targeting students at seven universities across South Africa with a view to attracting new, qualified talent in 2011. These efforts resulted in applications by 7 796 students wishing to participate in the Nedbank Graduate Development Programme – 110 of whom were placed on the programme for 2011. This is 38% higher than the 80 candidates that were accommodated in 2010.
Talent management and retention
Nedbank Group is committed to retaining its talented employees and is continuously exploring opportunities to ensure greater retention of staffmembers. Talented employees and those with scarce skills are key areas where such retention is of utmost importance. In 2010 the group saw the finalisation of a global high-potential employee list, with 43 candidates being identified. Global highpotential employees are individuals who show the potential to occupy future key executive positions within the Nedbank Group and/or Old M utual Group in the next six to 10 years.
In 2010 priority was given to strengthening the succession pipeline in Nedbank Group, and this resulted in succession plans being formalised for all roles within the group management structure up to two levels below that of chief executive. Profiles have been developed for each of the prospective successors to gain a better understanding of their career aspirations and developmental needs.
Flexible work practices
Nedbank Group continued to promote flexible work practices. Various flexible work practices are on offer to employees, including flexitime, telecommuting, homeworking, compressed working hours, four- and five-hour workdays, and two-, three- or four-day workweek options. A total of 691 staffmembers (2009: 236) made use of this employee benefit in 2010.
Aligning the Total Reward Strategy
Nedbank Group subscribes to a total-reward approach in order to attract, retain, motivate and reward all of its employees appropriately. Total reward is a combination of financial and nonfinancial, direct and indirect, and intrinsic and extrinsic rewards. This total-reward remuneration philosophy is aimed at promoting sustainable long-term performance and aligning performance with the strategic direction and specific value drivers of the business.During 2010 the group reviewed all remuneration policies to ensure alignment with the relevant codes of best practise and governance frameworks. The minimum guaranteed package paid by Nedbank Group in 2010 was R82 000 per annum. This is above the stipulated minimum wage. Please refer to the Nedbank Group Remuneration Report, available on pages 224 to 247 of the Nedbank Group Integrated Report 2010, for more detail.
Remuneration
Nedbank Group actively monitors race and gender income differentials across the organisation and in 2010 an extensive analysis was done to assess whether there were any unfair or discriminatory practices in the group's remuneration processes. The results revealed that, while parity of remuneration still requires attention, no unfair or discriminatory practices are taking place. The annual increase process and out-of-cycle increases are used to address any remaining parity issues.
Empowerment through the Eyethu share schemes
In 2005 Nedbank Group made history by launching Eyethu, a truly BBBEE transaction that included participation by employees, strategic black business partners, corporate and retail clients and a community trust. In July 2010 the Eyethu Broad-Based Employee Share Scheme vested. This was an important milestone in Nedbank Group's BBBEE transaction and proved a huge success for both the organisation and the participants.
The employee portion of the Eyethu Broad-based Employee Scheme afforded Nedbank Group the opportunity to recognise the important role its employees play in its success. In line with the group's aspiration of being a great place to work, in 2005 shares were allocated to employees earning less than R278 482 per annum, regardless of race. A total of 14 699 Nedbank Group employees (including past employees) have benefited from this scheme, with the shares appreciating by around 65% since inception.
The Nedbank Eyethu black economic empowerment (BEE) schemes comprise the following:
- Eyethu Black Executive Trust – aimed at attracting and retaining black executives.
- Eyethu Black Management Scheme – designed to attract and retain black senior and middle managers.
- Eyethu Broad-based Employee Scheme – intended to promote an equitable and diverse workplace through encouraging share ownership by employees.
- Eyethu Evergreen Trust – assisting the empowerment of black employees at lower income levels.
Performance management
Nedbank promotes holistic performance management by incorporating all aspects of performance into a single integrated HR framework. To facilitate transformation within the group a strategic performance management philosophy has been adopted that aims to put strategic plans into action and measure how the organisation responds to variables that influence organisational performance. There is a great focus on creating a high-performance culture with high aspirations, a common vision and individual responsibility for actions and decisions.Performance scorecards are formulated around the principle that all objectives and projects support the objectives of the business unit and are aligned with the Nedbank Group strategy. In this way key strategic objectives are applicable to every individual in the business. The performance scorecard is based on the balanced-scorecard methodology.
In 2010 a learning and exploration journey was undertaken to integrate the performance standards from the Nedbank Group leadership pipeline into performance scorecards.
Recognition
The Nedbank Achiever process is unique in that it decentralises recognition in the group by allowing each business cluster to customise the programme. This cluster customisation takes place within a clear set of guidelines to ensure fairness and consistency in the groupwide recognition approach.The culmination of the recognition programme saw 141 Nedbank Top Achievers (119 individual winners, 20 Top Team winners and two CEO Award winners) and their partners visiting Singapore and Bali as reward for their excellent performance throughout the year.
learning and growing: developing people
The Group People Development function supports the delivery of Nedbank Group's three-year business strategy through policies and practices that allow clusters and business units to benefit from worldclass thinking and research into developing their people. Nedbank Group's people development focus areas include: - Enabling people to perform at the level required within the organisation through role-based development.
- Building a transformed talent pipeline through formal and informal learning solutions.
- Providing future career opportunities through personal development.
- Measuring and reporting on learning to inform people development decisions.
- Contributing to the National Skills Development Strategy.
- Embedding the legislative requirements created by the Employment Equity Act, Skills Development Act, Skills Development Levies Act and all other relevant legislation in all Nedbank Group's people development practices.
Skills development and training
Nedbank Group focuses its learning efforts on delivering optimum value for both the employee and the organisation via a positive shift in performance. The creation and maintenance of a learning culture within the group not only fulfils the various regulatory requirements that govern skills development, but also provides the momentum for sustainable organisational performance.In 2010 the drive to develop learners for the financial services industry resulted in 137 learners participating in the Kuyasa and Letsema Learnership Programmes (2009: 210). A further 214 participated in other learnerships (2009: 240), while eight graduates undertook the Training Outside of Public Practice (TOPP ) Programme for accountants, and 80 attended the Nedbank Graduate Development Programme (2009: 104).
In 2010 an average of 39 hours of training per employee was completed.
Nedbank bursary scheme
The External Bursary Programme saw 265 bursaries awarded to undergraduates studying toward bank-related qualifications. The focus of the bursary scheme is on meeting scarce-skills requirements at Nedbank Group as well as ensuring that candidates who are most in need of funds receive the assistance they require. A total of 132 final-year bursars exited the scheme at the end of 2010, of whom nine were selected for placement on the 2011 Graduate Development Programme, while 109 are available for direct recruitment across the group in 2011.
A further 1 081 internal bursaries amounting to R8,4 million were awarded to Nedbank Group employees for further academic studies at graduate and postgraduate level. Study grant assistance to the value of R3,6 million was provided to 347 employees for the education of their children.
Training spend
In 2010 Nedbank Group spent R244,2 million on training, representing 3,58% (2009: 4,32%) of basic payroll, with R130,6 million or 2,78% (2009: 2,97%) going to the training of black staff (after adjusted recognition for gender). Of the total direct spend 27% (R40 million) was on strategic programmes supporting transformation, with 59,88% of the total training spend on black staff having been spent on black female staff. Business and academic development for successive levels of our management is catered for in the business education programmes. In 2010 a total of 63 senior managers attended the executive education programmes, locally and internationally, and 462 managers attended business education programmes at top business schools in South Africa.
Other training and development opportunities made available to employees of Nedbank Group include:
- Executive education programmes – provide global and local leadership and management knowledge and skills to senior managers and executives.
- BANKSETA learnership programmes – funded by Ban kseta, Nedbank Group provides the infrastructure and support to ensure that learners develop skills and knowledge to make them more employable.
- Professional development programmes – aimed at graduates entering specific professional fields within banking to provide further professional development in the workplace.
Management Development Programme
The Management Development Programme (MDP) is aimed at establishing a common values-based management approach within the group. A total of 3 876 staffmembers attended MDP role orientation workshops in 2010.Coaching for Growth
During 2010 coaching was repositioned as an enabler of leadership development in order to support the group's vision of fully performing leaders. A three-tier coaching framework was designed and implemented.More than 1 000 business managers and HR professionals attended Coaching for Growth in 2010 and the aim is to reach 3 500 managers by the end of 2012. Coaching for Growth, as part of tier 1 of the coaching framework, aims to provide all managers across the group with basic coaching capabilities as a requirement of their leadership roles.
During 2010 a total of 26 external coaches (accredited through the International Coach Federation) and 18 internal coaches were selected for the development of both executive and managerial staff.
Enabling human resources capability and excellence
Nedbank Group is committed to enhancing its HR capability and competence levels in order to build effectiveness and efficiencies in employee interactions and relationships, and to enable all HR professionals to realise the vision of building a great place to work. As part of enhancing the HR capability, an HR academy programme has been designed and will be rolled out in 2011.
Occupational health and safety
A culture of safety is of utmost importance at Nedbank Group. This entails compliance with various pieces of legislation including the Occupational Health and Safety (OHS) Act, 85 of 1993, and its regulations, and the Compensation for Occupational Injuries and Diseases Act (COID ), 130 of 1993, as well as internal O HS policies aimed at the health, safety and security of employees, clients and all other stakeholders. Measures to ensure compliance include the following:
- OHS training is compulsory for all Nedbank Group employees.
- Evacuation drills are practised at least twice annually. uring 2010 the time taken to clear all sites was materially reduced.
- All OHS representatives undergo annual training.
- OHS committees meet monthly at all Nedbank Group sites to review the effectiveness of OHS within the group as well as compliance with legislation.
- The Nedbank OHS intranet site is available to all employees and includes relevant OHS information, training, a copy of the OHS Act, and important policies and procedures.
- Recognition for all OHS wardens is endorsed by the annual recognition process and the OHS function is now provided for in their performance agreements.
- Health, safety and security awareness events are held regularly.
- Regular communications are sent to all staff in terms of health and safety.
- ommitment from the Nedbank Group Exco to maintain a culture of safety.
Accident reports and investigations
In 2010 altogether 61 workmen's compensation claims were accepted by the Compensation Commissioner (2009: 52). Incidents are investigated for accidents involving all Nedbank Group permanent and temporary staffmembers and contract workers, and are reported.
OHS highlights
- The 2010 FIFA World up brought some new challenges to OHS as soccer teams were hosted close to Nedbank sites and so alternate emergency routes and assembly points were identified and successfully drilled.
- Compliance with the OHS Act by Nedbank Group remained consistent at 98,88% (2009: 98,43%).
- The group complied with changes in legislation, eg the promulgation of the Tobacco Act that resulted in all Nedbank buildings being declared non-smoking areas.
- The Imperial integration into Nedbank Group resulted in an increase in the number of sites included in the Nedbank Group OHS programme.
- The disability incident frequency rate (DIFR) for Nedbank Group in 2010 was 0,33. This aligns with the industry standard and is 0,4 below the national average.
- The group's OHS Act compliance target for 2010 was to achieve a gold rating.
- This target was achieved, with a final rating of 98% for 2010.
 Return to top |
