IMB Bank receives Workplace Gender Equality Agency citation for second consecutive term

March 6, 2023

IMB Bank Board Chair Cathy Aston and Chief Executive Robert Ryan and the WGEA Employer of Choice for Gender Equality citation.

With a sustained focus on building a diverse, inclusive culture, IMB Bank is delighted to announce that it has been awarded the Employer of Choice for Gender Equality (EOCGE) citation from the Workplace Gender Equality Agency (WGEA).

IMB is one of only 129 companies in Australia to hold the citation – a rigorous, evidence-based evaluation of workplace policies and actions.

IMB Bank Chief Executive Robert Ryan said, “Since first receiving this citation in 2021, we’ve continued to work hard to drive positive change in our workplace, so we are delighted to receive this acknowledgement for a consecutive term. However, we know that there is always more progress to be made and we are committed to evolving the programs we have put in place to provide our staff with an inclusive, diverse and supportive place of work,” he said.

IMB’s gender equality initiatives include paid parental leave for men and women; flexible working arrangements to support a healthy work-life balance; workplace consultation through an employee-led Diversity and Inclusion Working Group, ensuring gender-balanced approaches to recruitment and promotion decisions; and actively working to close the gender pay-gap year-on- year.

“Our Diversity and Inclusion program is delivering meaningful, lasting change,” said Mr Ryan. “We’ve set targets to create a diverse talent mix across our business and ensure our people have equal opportunity to participate, achieve and progress their careers. In 2022, for example, 77% of our internal promotions were earned by women which was a great outcome.

“Over the past three years, we’ve delivered an increase in senior management positions held by women from 18% to 38% and increased female representation in regional management positions from zero to 40%. Outcomes such as these also support our efforts to deliver pay equity in our organisation, which remains a key area of focus” said Mr Ryan.

WGEA Director Mary Wooldridge said the results were encouraging for all employers seeking to accelerate change in their workplaces.

“EOCGE employers have made gender equality an integral component of their business strategies and they’re seeing results,” Ms Wooldridge said. “With the upcoming legislative reforms requiring WGEA to publish employer gender pay gaps, the results of this new analysis show that with intentional leadership and a commitment to gender equality, an employer can reduce their gender pay gap for the benefit of all their employees.

“Critically, EOCGE employers are delivering an approach that results in better support structures in place for working families; stronger actions to address pay inequalities; and strategic recruitment, promotion and retention practices that encourage the full participation of women at work,” Ms Wooldridge said.

"As a customer-owned bank, it is important that our workplace and organisational values reflect the members and communities that we serve,” Mr Ryan said. “Our experience proves that embracing equality is good for our people and good for our business. We have received Canstar awards for having Australia’s Most Satisfied Customers in the mutual bank and bank categories in 2022 and the service provided by our staff was a significant contributor. These awards show that our members are feeling the benefits of our digital technology investment, competitive products and our efforts to create a diverse and inclusive culture which manifests in superior service.”

Find out more about the Workplace Gender Equality agency and the 2023 citation recipients here.

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