Diversity

Diversity continued to be a key area of focus for the Group in 2012. While the Group recognises the broader definition of diversity to include valuing the contribution of people from different backgrounds, with different perspectives and experiences – including but not limited to gender, age, disability, ethnicity, religion and cultural background and, in the United States, veterans – Westfield’s initial emphasis has been on gender diversity with the goal of strengthening the representation of women executives in senior management positions.

During 2012 Westfield committed to establishing processes in relation to objective setting, coordination, monitoring and reporting of global diversity measures in line with the Australian Securities Exchange (ASX) Corporate Governance Council’s Corporate Governance Principles and Recommendations, requiring listed companies to report on diversity.

The Managing Director of each of Westfield’s operating jurisdictions were nominated as responsible, on an annual basis, for developing a three-year plan to identify and implement diversity measures and initiatives for personnel in their respective territories.

A summary of the Group’s measurable objectives for 2012 and a report on the Group’s progress is set out below.

Country	Commitment	Achievement in 2012
Global	The Managing Director of Australia, New Zealand & the United States and the Managing Director of the United Kingdom must each develop a 3-year plan to address diversity initiatives	Three-year plans have been established which include processes to: embed organisational structural changes, including succession planning processes; review opportunities for women in non-traditional roles and target areas to ensure the representation of women in the applicant pool; increase the percentage of women in senior management roles through targeting the participation of women in development programs and succession planning sessions.
Global	The establishment of processes in relation to objective setting, co-ordination, monitoring and reporting of global diversity measures	The Human Resources function in each country in conjunction with the Managing Directors, co-ordinate global diversity measures through the 3-year plans. The Global Executive Committee has oversight of this process reporting to the Nomination Committee and the Board. The Board will review the progress of the Group’s diversity strategy on at least an annual basis.
Global	A global education program at senior management level to increase awareness of the need for diversity	Induction and People Manager training programs have been developed to include the Group’s diversity policy; diversity initiatives and management’s role in addressing those initiatives. A diversity awareness session will be included in senior management forums to build a consistent approach to the Group’s diversity objectives. Human Resources will conduct on-going briefings with senior executives on the importance of supporting diversity within the business. The Global Executive Committee will sponsor diversity workshops in leadership forums.
Global	A global review of the Group’s flexible work arrangements	A global review was undertaken of each country’s flexible work arrangements policies. In 2013, these policies are being updated to ensure a consistent global approach having regard to any local laws or regulations.
Global	Pay equity – a specific band level review will be undertaken across all countries to identify gender based remuneration gaps (if any) between employees performing comparable roles	A review of pay equity was undertaken across all countries. In line with practices in Australia, in 2012 the United States introduced pay bands specific to each functional area. The bands represent market competitive pay positions which has enabled detailed pay equity analyses specific to women and minorities. In 2013, a global committee is being established to further address any identified remuneration gaps.
Australia/ New Zealand	Integration of New Zealand into the “Connect” program (a mentoring and networking program for female executives) currently run in Australia	A new Connect network group was established to include representatives from New Zealand with a number of Connect events held during the financial year.
Australia/ New Zealand	Target 35% to 40% female representation across Australian and New Zealand development and leadership programs	This objective had a 2013 timeframe but at the end of the 2012 financial year, female participation in the leadership programs was 35%.
Australia/ New Zealand	A review of opportunities in non-traditional roles (for example: engineers, construction project managers and IT specialists) and, where possible and practical, with a view to ensuring at least one woman is on the recruitment short list	This measure has a 2013 timeframe and forms part of the Managing Director’s 3-year plan.
Australia/ New Zealand	Target no less than 20% female representation in the Australian/New Zealand senior talent and succession plans	This measure has a 2014 timeframe and forms part of the Managing Director’s 3-year plan.
United States	Continued sponsorship of the Real Estate Associate Program (a commercial real estate diversity program bringing together the country’s most talented minority professionals into the world of commercial real estate) with the aim of selecting qualified graduates into entry level management positions	The Group continued to sponsor the Real Estate Associate Program with active participation by senior Westfield executives including providing instructional coursework on real estate and property management, interviewing skill and practice sessions. The program continues to be a source of potential management candidates for the Group in the United States.
United States	Review hiring processes with the intention of increasing the representation of a diverse candidate pool, including females	Arrangements with external recruiters now require the recruiter to recommend a diverse candidate pool particularly in relation to senior management positions. Applicant tracking systems have been put in place that enable the Group to collate and track information by job title and function and to target areas that may require improvement in the diversity of the applicant pool. The information from this process (which includes gender, race, disability and veteran status (if the factors are known) is included in the Affirmative Action Plan and goals are created to address areas of concern.
United States	Succession planning reviews with the senior executive team with a focus on improved diverse representation and career planning for senior positions	Succession planning reviews were undertaken during 2012 with a focus on development and retention of high potential women and executives from minority backgrounds. Development plans were updated to incorporate the outcomes of these succession planning sessions.
United Kingdom	Continued roll out of Westfield Foundational Leadership Program with a target female representation of 30% and the launch of a training and development program aimed at building management and leadership capability with a target of female representation of 30%	Female participation in the leadership programs was 26% during 2012 with further training scheduled for the first quarter of 2013.

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