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People

Our people are central to achieving ASX’s vision of being the ‘world’s most respected financial marketplace'

Our people

Achieving ASX’s vision to be the world’s most respected financial marketplace requires our employees to be accountable and to act with integrity. By investing in ASX’s workforce and employee experience we can enable our people to do and be their best. 

We do this by providing our people with:

  • A strong set of values that guides behaviours and the way we interact with each other, our customers, regulators and other stakeholders
  • An accountable culture that is inclusive and respectful of the customers we serve and the broader Australian community
  • The skills and capabilities required to execute our strategy now and in the future
  • An opportunity to develop and progress their careers and to contribute to our vision.

A values-based organisation

ASX is committed to building an engaged, skilled and responsible workforce guided by our company values and focused on executing our strategy. To do this we:

  • Make clear the behaviours we expect of employees
  • Commit to protecting the confidentiality of employees who wish to raise matters concerning the integrity of ASX
  • Strive to create a diverse and inclusive workplace
  • Have a strategy to attract and retain talent through our remuneration practices and training and development programs
  • Provide a safe, enjoyable workplace and programs that support employee wellbeing. 

Values-driven behaviour

ASX’s BE values articulate the types of behaviours and personal interactions we expect at ASX. They represent what we stand for as an organisation and help guide the actions and decision-making of our people. They are BE Open, BE Trustworthy, BE Original, BE The Example. 

Our BE values were developed collaboratively by management and staff, who were asked to describe what kind of company culture we have, as well as which behaviours were key to our long-term success. 

Our BE values are turned into actions through the behaviours mentioned in the graphic to the right and are celebrated through our BE Awards program. 

Management and the Board monitor ASX’s culture and employee behaviour through regular staff surveys and our performance review process. Results are reviewed by the Remuneration Committee of the Board.

Some of the key findings of the staff surveys undertaken in FY19 included: 

  • 80% of employees believe the BE values reflect what it means to work at ASX
  • 95% of employees are confident they know how to live the  BE values
  • 83% of employees see the BE values demonstrated in their teams.

Maintaining a high standard of integrity in our workforce and engendering trust among our stakeholders are central to our ability to operate successfully at the heart of Australia's financial marketplace. We work hard to instill and reinforce a culture of acting lawfully, ethically and responsibly.

ASX’s Code of Conduct, Anti-bribery and Corruption, and Whistleblower Protection policies set out the conduct we expect of our staff to meet our standards and those of our stakeholders and the broader Australian community. 

ASX has a Code of Conduct underpinned by our values. The Code of Conduct applies to all our people, including directors, employees and contractors. It sets the standards for how we work at ASX and outlines the importance of our values to anyone dealing with ASX. The Code requires our people to act in a way that is guided by ASX’s values – including acting in the best interests of ASX and with honesty, integrity and fairness.

ASX’s Anti-bribery and Corruption policy states our requirements for the management of gifts and benefits. It requires employees to report all gifts above a specified threshold. The Audit and Risk Committee receives periodic reports on these disclosures.

To enhance our position of trust and independence, during the annual review of this policy in FY19 the threshold for declaring gifts was lowered from $200 to $100. In addition, gifts over $400 are now prohibited unless approved by the CEO. 

ASX’s Whistleblower Protection policy supports employees who report non-compliant, suspicious or unethical conduct. It formalises ASX’s commitment to protecting the confidentiality and position of employees who wish to raise matters concerning the integrity of ASX.

During FY19, this policy was updated to reflect proposed new legislation, with the remaining changes to be implemented in FY20. 

ASX requires staff to complete regular training and attest to their understanding of, and compliance with, ASX’s policies including the Code of Conduct and Anti-bribery and Corruption policy. 

During FY19, over 2,500 hours of mandatory e-learning modules were undertaken. Topics assessed included:

  • Code of Conduct* 
  • Conflicts* 
  • Licence to operate 
  • Data breach 
  • Workplace diversity and inclusion 
  • Workplace health and safety.

 *Included material relating to gifts and entertainment/anti-bribery and whistleblowing.

In addition to undertaking training, ASX's Executive team and General Managers are required to provide a 'policy adherence' attestation in areas including ASX's Code of Conduct, Conflicts Handling, Group Dealing Rules, Use of Social Media and Internet and Email Use.

A diverse and inclusive work environment

ASX knows that a diverse and inclusive work environment improves performance.

We support a workplace where employees have equal access to career opportunities, training and benefits. We treat employees fairly and respectfully and ensure they are not judged by their gender, age, ethnicity, race, cultural background, religion, sexual orientation, disability or caring responsibilities.

Our workforce

We recognise that balancing costs and productivity influences employee workloads and motivation levels, as well as the ability for management to operate the business and pursue growth opportunities. 

In FY19, our permanent workforce grew 17% as we added resources in the areas of change and risk management, IT engineering and infrastructure, customer service, compliance, data analytics and business development. These resources have been deployed across the business allowing the execution of a range of technology enhancements and growth opportunities. 

ASX also augmented our project delivery capability with an uplift in contractors, which now stands at approximately 7% of the permanent workforce. Strategic partnerships with technology consulting firms further enhanced the skills and capabilities of the organisation.

FY19 voluntary turnover remained consistent with the previous year at 12%, which is slightly below the diversified financials industry average of 13% as measured by the Australian-based Financial Institutions Remuneration Group. 

Voluntary turnover is at a level that allows workforce stability while enabling ASX to introduce new skills and talent. 

Having the right resources in place is also an important factor to build an engaged workforce. In FY19 we saw an increase in the number of our workforce who were born between 1980 and 1995. This group is often described as Millennials. The increase is consistent with the technology-led aspect of our strategy.

The below chart outlines the demographic split of the organisation as at 30 June 2019.