Assessment of Commonwealth Bank Diversity and Inclusion Policies

This report provides a comprehensive analysis of the Commonwealth Bank's diversity policies. It begins with an introduction to diversity policies, followed by a detailed examination of the Commonwealth Bank's specific approach, including its commitment to employees, its implementation strategies, and its alignment with corporate values. The report then delves into the implementation of these policies, highlighting the role of leadership in fostering a diverse and inclusive environment. Recommendations are offered to enhance the effectiveness of the policies, focusing on leadership and employee competence, as well as recruitment, development, and advancement strategies. The report also briefly compares the Commonwealth Bank's policies with those of the National Australia Bank and Westpac, before concluding with a summary of key findings and insights. The assignment is a part of the BUSN304 course, focusing on working with diversity and conflict within the Peter Faber Business School.

Running Head: DIVERSITY & POLICIES
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DIVERSITY & POLICIES

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Table of Contents
Introduction......................................................................................................................................2
Diversity policies.............................................................................................................................2
Commonwealth bank diversity policy.............................................................................................2
Implementation of diversity policy..................................................................................................3
Recommendations............................................................................................................................5
Leadership and employees competence and diversity intelligence..............................................5
Recruitment development and advancement...............................................................................5
Diversity policy of National Australia Bank and Westpac..........................................................6
Conclusion.......................................................................................................................................6
Bibliography....................................................................................................................................7

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Introduction
This report will highlight the Commonwealth bank diversity policy. The diversity policy of the
organization is committed to serving the employees at a high level. This organization is
committed to invest in employees and build trust. Diversity policies of the Commonwealth bank
are appropriate to bring more opportunities in the organization by the selection of appropriate
employees. Further recommendations have been added in the discussion to improve the
Commonwealth bank diversity policies.
Diversity policies
Diversity policy is the generic term that implemented as part of the framework for good
organization practices (Kirton, and Greene, 2015). This act as the deterrent to discrimination
against the individuals that based on the differences like culture, class, HIV status, age, gender,
health status, cognitive ability, offending background, mental health, place of origin, political
beliefs, physical disability, sexual orientation, race, and religion (Maffi, and Woodley, 2012). A
diversity policy of the organization helps to achieve the parity in entire organizational levels. The
Polices of diversity is effective to define, plan and implement the essential roadmap, guide and
measures to bridge the gaps and achieve the diversity objectives. Policies of diversity are
forward-looking and set the objectives for businesses (Eyers, 2014).
Commonwealth bank diversity policy
In 1911, the activities of the Commonwealth Bank were founded within the Commonwealth
bank act. In 1912, it has commenced the operations that empowered to conduct the general and
savings banking businesses. In today's time, the business of the Commonwealth bank has been
grown as more than 800000 shareholders and 52000 employees are working in the organization.
It offers the filled range of financial facilities to help Australian to build and manage financial
services. This commonwealth bank of Australia is known as the Australian multinational bank. It
has business activities in New Zealand, Asia, the US, and UK. This provides many financial
services like institutional banking, retail business, funds management, broking, and investment.

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This bank was established as the government-owned trading and savings bank. In the subsequent
decades, it has progressively acquired the more responsibility of the central bank.
The Commonwealth bank policies set out with the appropriate commitment to diversity. This set
out to fill the purpose and expand financial wellbeing of consumers and communities. This is
consistent with the corporate value to do the right thing. Diversity policies of Commonwealth
bank enable us to understand more effectively and serve the requirements that build trust and
make better decisions in business. The Commonwealth bank diversity policy is applied to the
directors, groups, contractors, and employees. The Commonwealth bank diversity policy refers
that it is committed to investing in people, processes, systems, and policies to ensure that
organization is diverse and expect the employee work together to achieve the culture that
supports commitment. The Commonwealth bank diversity policy refers to the many differences
within the organization's people. Commonwealth bank is known as the collective representation
of the employees that come with the differences in thoughts, unique capabilities, personality, and
talent that they bring to organization work. It is the general concept that every employee is
unique and recognition of the individual differences within the organization is providing the
concept to feel important, respected, engaged. This includes the assimilate of an employee with
differences including but not limited to geography, ethnicity, nationality, sexual orientation,
physical capabilities, age, the status of a family, perspective, religious beliefs, experience, and
other ideology. Commonwealth bank strongly appreciates the diversity in all forms and achieves
the gender parity that is a priority for the organization. Employees within the Commonwealth
bank reflect the diverse customers and communities. The organization takes care of the diversity,
abilities, and talents of employees. This organization gains the benefits at large from the
experience, skills, and commitment of a diverse range of employees that work in a fair, open, and
diverse environment (Ferguson, 2015).
Implementation of diversity policy
The leadership of the Commonwealth Bank has the mission to improve the financial lives.
Customers of the organization are familiar with the leadership as provide the solution according
to the requirement of customers. Leadership in the Commonwealth bank provides equal
opportunities to train and develop the employee regarding career progression. Leadership in the

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Commonwealth Bank has the highest level of commitment from the board to the individual.
Leadership within the organization has the mandate to keep the adequate diverse representation
within the special task force teams, interview panels, recruitment, and forums of the collective
decision making and on the occasions that include decision making, team’s empowerments, and
delegation (Ferguson, & Masters, 2014).
It considers the new appointment to the board, the reviews of the Nominations Committee as
balance of skills, diversity, and experience on board to identify the criteria that are resolute to be
important to improve the effectiveness. These kinds of criteria form base of search for new
engagements to board. The nominations of the committee ensure the inclusion of the more
female applicants to address gender diversity lack within the board. This will report annually
within corporate governance segment of the Commonwealth bank. This report will include the
policy summary, measurable objective that set for implementing policies and progress made to
achieve the objectives. Recruitment in the leadership teams and executive committees at the
group level and business level are crucially scrutinized and search mandates to focus on the
mapping of diverse female employees as an important requirement regarding vacancies (Young,
2016). The board within the Commonwealth bank places the high emphasis to ensure the
diversity development in the roles of senior management within the Commonwealth bank and
support the objectives to ensure the adequate representation of female executive in the leadership
grades and business executive committees. The objective of the organization is too monitored by
the board and built within the assessment of executive performance. Senior leadership within the
organization has a strong diversity building targets by the selection, recruitment, and programs of
staff growth (Henn, 2019).
Leadership in the Commonwealth bank has a specific and valuable role to play by supporting the
commitment to diversity. The board within the organization set out the agenda of diversity.
Commonwealth bank understands the values and benefits that bring by the board. Leadership in
the organization views the accomplishment of objectives as an important part of the
responsibility. The leadership of the organization publically supports the external and internal
activities of diversity. Leadership activities include change agents and role models. There are
many examples in which leaders have championed the diversity caused by diversity-related
events. Commonwealth Bank is committed to reinforce and build the capability of leadership by

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the use of the best tools of practice. Leadership within the organization is assessed as per the
organization's values at the annual performance calibrations and capabilities feedback. The
nominations committee of the Commonwealth bank reports annually in the section of corporate
governance of Commonwealth bank report, on process which is used in the relation of board
appointments. This kind of report includes the diversity policy summary, measurable goals set
regarding the implementation of policy and progress made to achieve the objectives (Wilkins,
2015).
Recommendations
Leadership and employees competence and diversity of intelligence
Commonwealth Bank of Australia is required to regularly drive the program for the success of
diversity policy. The leadership and management within the organization are required to become
more responsible to manage the teams. The organization is required to become more sensitive
regarding initiatives and faster benefits. Commonwealth banks should ensure that diverse
employees actively engaged within the environment of work without any biases. As inclusive
leaders, the organization should regularly work to nurturing the environment at which diverse
workers mentored, coached, and neutered to develop the potential as a future leader.
Commonwealth bank should constantly ensure that it is free from the conscious and unconscious
biases that guide the behavior, opinion, stance, language, and approach to interact with the
individuals that are diverse in the thoughts, gender, and orientation. It should initiate the series
on gender intelligence. Organizational diversity policy should improve the capabilities of
diversity management of existing managers and leaders. It should take the initiatives to remove
the barriers and increase the awareness for employees to contribute their best and permit the
employees and teams to accept the creativity, enthusiasm, and focus to achieve the corporate
objectives (Linstead, Fulop, & Lilley, 2019).
Recruitment development and advancement
In today’s time success of the diversity is more dependent on the philosophy of staffing and
hiring (Alexandrova, Carammia, and Timmermans, 2012). Commonwealth Bank diversity policy
should ensure the objective of the organization more integrated within the retention, recruitment,
advancement, and development of talent. It should regularly make the effort to attract the

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employees from different diversity dimension groups to achieve and maintain the employee that
presents the diversity across the functions and levels. Advertising will be the target for the
diverse communities and drive within the interviewing panels as the standard and hiring
managers should be educated on the impact of bias. An organization with a high potential talent
should represent a balanced way to deliver coaching, sponsorship, and mentoring opportunities.
Employees within the organization should be encouraged to consider and develop the
opportunities and positions outside its current functional, professional and technical areas. It
should have particular goals for recruitment. It should have the objective to hire the 50 percent
diverse employees from the campuses to maintain the healthy balance of the female candidate
pool regarding lateral hiring (Whalley, 2014).
National Australia Bank and Westpac diversity policy
National Australia Bank diversity policy has the objective to increase the pool of potential job
employees and the chances to recruit the right employee. The board within the National Australia
bank set the objectives to achieve diversity. National Australia bank encourages the employees to
develop the full potential and utilize the talents and workforce sources to improve the
organization's efficiency.
The diversity policy of the Westpac has the objective to improve workplace morale. Objectives
in the Westpac are achieved by the particular emphasis on the top level of organization. This
organization encourages the management to develop the potential of talents.
Conclusion
Diversity policy plays an important role in the success of the organization. This discussion
covers the diversity policies of the Commonwealth Bank is established to improve the financial
position with the wellbeing of communities and customers. Further discussion includes the
recommendations to improve the diversity policies through the implementation of programs in
recruitment. It can be concluded that the diversity policies of the Commonwealth Bank with the
implementation become more capable to compete.

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Bibliography
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diversity on the European Council agenda. Policy Studies Journal, 40(1), pp.69-88.
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Financial Review: http://www.afr.com/business/banking-and-finance/financial-services/the-man-
who-blew-the-whistle-on-cba-20140627-je1mp
Ferguson, A. (2015). CBA compensation scheme closes amid anger, frustration. Retrieved from
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compensation-scheme-closes-amid-anger–frustration-20150702-gi3fv7
Ferguson, A., & Masters, D. (2014). Banking Bad – Four Corners. Retrieved from Australian
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Routledge.
Whalley, J. (2014). Commonwealth Bank chief Ian Narev pledges ‘far-reaching’ review of
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http://www.heraldsun.com.au/business/commonwealth-bank-chief-ian-narev-pledges-
farreaching-review-of-financial-advice-arm/news-story/91180e310232a49252ddf0896b7b620d
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