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.