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People

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

Engaging our people

Our people are central to achieving ASX’s vision of being the world’s most respected financial marketplace. How we support and inspire our workforce influences their commitment to ASX and the quality of their work. Striving to have an inclusive work environment, which cares for our people’s wellbeing and provides them the opportunity to achieve their professional ambitions, contributes to our ability to retain and attract talent. It also helps deliver tangible results, such as improved financial performance.

We are committed to building an engaged, skilled and responsible workforce guided by values and behaviours that support our strategy. To do this, we:

  • Make clear the behaviours we expect of employees through our values-based culture
  • 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 and enjoyable work environment, with programs to support employee wellbeing.

 

Our values-based organisation

Our people’s actions and decisions are as important as the outcomes they deliver. That is why we are committed to building a values-driven culture. 

Our values are to:

We work to instil and reinforce a culture of acting lawfully, ethically and responsibly, and know this is key to creating long-term value. We are committed to maintaining a high standard of integrity and stakeholder confidence.

Management and the Board monitor ASX’s culture and behaviour with regular surveys and during annual performance reviews with employees. Results are reviewed by the Remuneration Committee.

Our Workforce

In FY20, our permanent employee base increased by 5.5%. This was a marked slowdown from the 17% increase in FY19, which saw the hiring of resources to achieve our strategic initiative to uplift our technology and risk capabilities.

In FY20, voluntary turnover remained consistent with the previous year at 11%, which is slightly below the diversified financials industry average of 12% 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.

Remuneration

ASX employees receive a competitive fixed remuneration package. Subject to performance, employees also participate in a short-term incentive plan, which rewards individual behaviour and performance with ASX shares and/or cash (depending on the role). Details about our remuneration practices and policies are included in the Remuneration Report.

ASX conducts regular reviews of remuneration to ensure differences are not based on inappropriate personal characteristics, such as an employee’s gender. Across ASX, there is on average no systemic pay gap between men and women when comparing like roles.  Each year a review is conducted to identify any employees with a difference in remuneration that can’t be explained by differences in qualifications, experience, tenure, and/or performance.  These differences are then addressed in the following remuneration review. 

ASX also provides employee benefits to all permanent and fixed-term employees. Through the General Employee Share Plan, ASX supports employees wanting to be shareholders by offering them the opportunity to buy $1,000 of ASX shares at a 10% discount on a pre-tax salary sacrifice basis. ASX covers the brokerage costs. In FY20, this offer was accepted by 61% of staff.

Other benefits offered by ASX include salary continuance insurance, an Employee Assistance Program, discount and corporate rewards suite, and subsidised sport and social programs.

 

Managing performance and development

We believe that our sustainability is strongly supported by high performing individuals who seek to improve their skills, performance, and careers. Equally, we know that career development and training are crucial to employee engagement and retention.

ASX’s performance management system helps all employees achieve their best. Ninety-three percent of employees have documented deliverables and behavioural goals. The system also encourages the creation of developmental goals, performance conversations and career progression.

Learning programs are available for all roles and levels within the organisation via a global online learning platform. Additionally, ASX partners with best-in-class learning providers to deliver tailored development programs for leaders and team members. 

Employee safety and wellbeing

Workplace health and safety

ASX is committed to the health and safety of all employees, visitors and contractors. Employees are encouraged to identify and address potential causes of workplace risk, injury and illness. Ongoing consultation with employees is conducted through the Health and Safety Committee, which meets on a quarterly basis. All employees have access to all relevant workplace health and safety (WHS) policies, risk assessments, procedures and statements, and complete mandatory annual e-training on WHS obligations.

The Audit and Risk Committee receives quarterly updates on ASX’s compliance with WHS laws. WHS performance is audited periodically by an independent third party.

ASX’s FY20 lost-time injury frequency rate (the number of lost-time injuries per total hours worked) was below industry average at 1.41.

Prevention of harassment and discrimination

ASX works to prevent discrimination and harassment in the workplace. Some of the highest scores in our 2019 staff survey included statements about the intolerance of sex-based harassment and the belief that greater diversity leads to better business outcomes. ASX has processes in place to monitor and address discrimination, and employees must complete online training periodically. 


ASX Life Wellbeing Centre

The ASX Life Wellbeing Centre was launched at the annual ASX Benefits Expo in February 2020. A centralised hub and app, it provides free access to exercise workouts, information sessions on mind wellness, and healthy recipes.

The annual ASX Benefits Expo brings together all benefit providers to educate employees on what is available to them. Showcased wellbeing benefits include the Wellbeing Centre, flu vaccinations, the ability to purchase annual leave, Families at Work, corporate health cover providers, corporate gym membership offers, ASX employee networking groups, and the ASX Employee Assistance Program.

Diversity and inclusion

ASX knows that a diverse and inclusive work environment brings performance benefits.

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.

 

Gender diversity

ASX knows that a diverse and inclusive work environment brings performance benefits.

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.

We have a target of 40% female representation for all management levels. ASX is working towards achieving this target, with an overall representation of females in management of 39% as at 30 June 2020. To encourage greater representation of women at all levels in the organisation, we:

  • Set gender diversity targets. Achievement against the targets is monitored by the Remuneration Committee
  • Undertake annual pay equity reviews and make adjustments where a gap is identified
  • Introduced gender-balanced shortlists and panels for interviews when recruiting
  • Embed gender equality targets as part of an executive’s balanced scorecard and review the executive’s achievement against these targets when determining their short-term incentive.

The following table captures ASX’s gender diversity targets and performance at various levels within the organisation. In FY21, ASX will continue to execute its gender diversity strategy by focusing on leadership accountability, gender pay equity, workforce gender composition, and talent pipeline and building capability, with the aim of reaching its gender diversity targets across the Group. 

Diversity % of women Target FY20 FY19
On the Board 40% 27% 30%
Executive committee roles 40% 29% 29%
Management executive roles 40% 26% 42%
Management/team leader roles 40% 41% 39%
Professional/technical roles 40% 36% 38%
Administrative roles 50% 82% 79%
Across the entire organisation 40%    

Empowering employees passionate about inclusion

ASX recognises the power and passion of its employees and strives to support them through our employee-led networking groups (ENGs). These groups, developed, chaired and run by employees, raise awareness and provide education in areas its members are passionate about.

ASX supports these groups through:

  • The provision of resources and guidance on the governance, structure and goals of the group
  • Financial support to enable events, communication and raising awareness of the aims of the ENG
  • Executive sponsorship to advocate for the ENG and provide mentorship to ENG leaders.

Two new ENGs were formed in FY20, joining ASX's Our Women’s Network and Culture and Heritage groups. The first was ASX Giving, which encourages and supports ASX employees to give to the wider community. This was followed by the launch of Q at ASX (Q ASX) in February 2020. This group is focused on inclusivity and awareness of the LGBTIQ+ community. The group provides a voice for LGBTIQ+ employees, friends and supporters, and helps us continue to create a diverse and inclusive culture at ASX.


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.

 


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. 

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.