Diversity and inclusion plan

ASIC's Diversity and Inclusion Strategy 2020-22 was published on 27 February 2020. Read the Strategy here.

Our commitment
Diversity and inclusion principles
Our plan
Measuring our progress

Our commitment

ASIC is committed to attracting and engaging a diverse and inclusive workplace. By ensuring all ASIC team members are fully included, we will maximise the individual contribution and talent of our people to increase innovation, creativity and productivity, allowing ASIC to achieve our strategic priorities.

Diversity and inclusion principles

Our diversity and inclusion principles are to:

  • integrate diversity and inclusion into the way we perform our roles and how we make business decisions

  • effectively manage the diversity of our people in a manner which supports diversity of thought and the achievement of our values

  • recognise that all people are different and valuing those differences

  • ensure that the principles of diversity and inclusion underpin ASIC's people policies and practices, and are aligned to the APS Employment Principles

  • support flexible work arrangements

  • respect the diversity of our customers and stakeholders, and

  • maintain levels of internal awareness and expertise to support a culture which embodies diversity and inclusion.

Who we are

ASIC is a diverse organisation, employing over 1,900 people (as at 31 July 2018 looking at ASIC 1 - SES).

  • 54.7% of our workforce are women

  • 15.7% of our workforce work part-time.

In the 2013 State of the Service Survey (ASIC State of the Service Survey 2013 no. 873):

  • 5% indicated they have a disability

  • 15.7% are from non-English speaking backgrounds, and

  • 31% have carer responsibilities.

Our plan

ASIC's Diversity and Inclusion Plan aims to leverage the individual contribution and talent of our people by providing everyone with the opportunity for development in a flexible, respectful, rewarding and safe environment.

Our three areas of focus are:

1. Women in leadership
2. Building inclusion capability
3. Flexible work practices

1. Women in leadership

A big part of our diversity strategy is supporting women in leadership and senior positions.

In 2017–18, the Women in ASIC Committee (WIA) launched a comprehensive Action Plan, delivering a range of educational, development and networking events for ASIC staff.

We support the development of women in senior roles through participation in the Women in Law Enforcement Strategy and Women in Banking and Finance mentoring programs. Importantly, 149 team members across all levels are participating in ASIC's broader Mentoring Program.

In 2017–18, we met our voluntary 50% calendar-year targets for women in leadership roles at the Executive Level 1 and for the first year met our Executive Level 2 target. Our financial year result at the Senior Executive Service (SES) level has improved significantly, with 45% of SES positions held by women. These are our best results since the targets were established in 2013.

2017-2018

Target

Senior Executive Service

45%

50%

Executive Level 2

50%

50%

Executive Level 1

52%

50%

While these are targets (not quotas) we do all we can to reach them by ensuring people are hired and promoted based on merit and without bias. We will:

  • review and develop our recruitment approach, processes and practices in order to ensure we recruit and retain a demographically diverse workforce mirroring the communities' ASIC works for and regulates.

  • develop and deliver specific initiatives to improve our recruitment and selection practices, including:

    • implementation of best practice initiatives in relation to the sourcing of candidates so as to elevate the representation of women in leadership positions

    • hiring manager recruitment and selection training

    • ensuring that we have the necessary governance frameworks, tools, techniques and processes required to effect quality decisions, and

    • the fostering of a disciplined and transparent approach to the delivery and reporting of diversity-related initiatives, including the publication of our gender targets and progress against these in ASIC's Annual Report.

  • active celebration and communication of our progress against these targets as part of a broader education and awareness diversity plan of action.

2. Building inclusion capability

People leaders play a critical role in ensuring ASIC gains the most benefit from the diverse backgrounds, skills, talents and perspectives of our team members. We will develop and support our senior managers, senior specialists and team leaders in leveraging diversity and inclusion at ASIC.

People leaders will attend an interactive workshop that builds the business case for diversity, addresses bias as the barrier for inclusion and most importantly demonstrates the people leader's role in building inclusion. This workshop will contribute to delivering positive diversity outcomes and further embedding diversity into the way we work and more broadly into our culture.

3.Flexible work practices

At ASIC we want to ensure all our people have the opportunity to use flexible working arrangements, recognising that individual needs vary depending on a person’s stage in their life or personal circumstances. Our people speak positively about our flexible working practices in our staff survey with 85% of our people agreeing that their direct manager is good at supporting their access to flexible working arrangements and around three quarters of survey respondents being satisfied with their work–life balance.

Measuring our progress

We will measure our performance using the following indicators:

  • gender composition of ASIC

  • numbers and patterns of participation at all levels and business teams

  • part time and full time numbers

  • demographic diversity at Executive Level 1 and 2, Senior Executive Service and on relevant boards and committees

  • engagement, satisfaction and loyalty measures

  • retention, promotion and separation rates

  • performance-based rewards

  • learning and development patterns.

Diversity at ASIC

ASIC industry funding

Cost Recovery Implementation Statement 2019-20

4 March 2021

The final 2019-20 Cost Recovery Implementation Statement (CRIS) has been released.

Read the media release and CRIS

Industry funding: what you need to know

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More about industry funding

Last updated: 27/02/2020 01:58