3
6
Corporate Governance continued
7
.3 ꢂiversity
n
Introduce an annual review by the
Board of trends and results across a
range of metrics by gender, including:
gender profile at all levels, recruitment,
promotion, departures, inclusion
in talent and succession processes
and remuneration. Metrics will be
reviewed both globally and by country
of employment and will include
of work being undertaken in many areas
of the Company’s operations to ensure that
the Company is acting with Integrity (one
of CSL’s core values) at all times.
The Company recognises its talented and
diverse workforce as a key competitive
advantage. CSL’s business success is a
reflection of the quality and skill of its
people. CSL is committed to seeking out
and retaining the best talent to ensure
strong business growth and performance.
A copy of the Company’s Anti-Bribery and
Anti-Corruption Policy is available on the
Company’s website.
7.5 Supporting ꢀolicies
Diversity benefits individuals, teams, CSL as
a whole and our customers. CSL recognises
that each employee brings their own
capabilities, experiences and characteristics
to their work. Diversity is valued at all levels
within the Company.
benchmark data where available;
A review of the CSL policy framework
was conducted in conjunction with the
introduction of the Code in December
2008. The framework provides for three
levels of policy making within the CSL
Group as follows:
n
Implement further enhancements
to our Global talent identification
process to ensure all employees are
consistently assessed against
objective criteria; both the process
and outcomes to be reviewed
annually by the Board; and
In the area of gender diversity, CSL has a
long history of implementing programs
and policies supporting women in the
workplace. As at June 2011, there are two
female directors on the CSL Board (one
being the Chairman) and 27% of the most
senior roles in the Company (that is, “Vice
President level” and above) are held by
women. CSL believes it has a culture of
inclusiveness across the organisation.
n
Board Policies cover any operational
issue of strategic importance that
applies to all CSL Group business units
and all CSL Group employees and
are approved by the Board;
n
Require that individual development
actions are recorded for all employees
at Vice President level and above levels
and employees who are considered
to have the potential to reach Vice
President level or above levels.
n
Global Policies cover issues of an
operational nature requiring consistent
implementation across all CSL Group
business units and are approved
by a member of the Executive
The Company will report against these
measurable objectives in its 2012 Annual
Report.
Further evidence of CSL’s inclusive culture
was provided in the CSL Employee Opinion
survey results published in 2010 in which
Management Group or the Chair of a
CSL Global Functional Committee; and
In addition to these CSL Group-wide
measurable objectives, CSL management
in each of the 25 countries in which we
operate are encouraged to implement
diversity related initiatives consistent with
local laws, practice and culture. Examples
of recent site specific diversity initiatives
include, in Australia, where CSL will be
opening a childcare centre on the Parkville
site in September 2011 and, in Japan,
where a recently initiated program is
supporting female sales representatives
to return to work from maternity leave by
providing flexible working hours. The CSL
Board will consistently review site/business
specific initiatives on diversity during
regular Board visits to sites/businesses.
7
3% of female respondents agreed
or strongly agreed with the statement
working hours are flexible enough to
n
Local Policies cover issues that apply
to a particular CSL Group business unit
or a part of a particular CSL Group
business unit and are approved by
the appropriate site leader or
functional leader.
“
meet family or personal needs”. Benchmark
data indicate this result places CSL above
European, Australian and United States
comparators.
The framework ensures that policy
issues are reviewed and approved at the
appropriate level within the CSL Group and
that the principles outlined in the Code are
properly implemented.
The CSL Board adopted a formal Diversity
Policy (including gender diversity) in June
2011. Under this Diversity Policy, the CSL
Board is required to establish measurable
objectives in relation to gender diversity
and, on at least an annual basis, assess
and renew these objectives. The CSL Board
will also measure progress against these
objectives annually. Our current focus is to
ensure that CSL continues to build strong
and consistent systems and processes to
further support women in the workplace.
Communication of the revised CSL policy
framework has been undertaken to
ensure that all employees have a clear
understanding of the policy structure
and decision making processes within
the CSL Group.
A copy of the Company’s Diversity Policy
is available on the Company’s website.
7.6 Ongoing ꢀolicy Review and New
7
.4 Anti-Bribery and Anti-Corruption
ꢀolicy ꢂevelopment
The measurable objectives that the
CSL Board has set for the financial year
commencing 1 July 2011 are:
The Code provides a high level policy
statement on preventing bribery and
inducements. The CSL Board also considers
that it is appropriate to have a clear stand-
alone policy which sets out the Company’s
policy against bribery and corruption.
The Board and management remain
committed to continuing to review
the Company’s corporate governance
practices in response to changes in market
conditions or recognised best practices,
including the implementation of any
changes to the Corporate Governance
Principles and Recommendations or
ASX Listing Rules.
n
Review of sourcing, recruitment and
selection processes, throughout the
CSL Group to ensure that consistent
processes exist to support gender
diversity principles;
The Board therefore adopted an Anti-
Bribery and Anti-Corruption Policy in July
011. This Policy builds on the current
2
policy statement in the Code. This Policy
also supports the considerable amount
