People are central to our success
Our aim is to attract, motivate and retain exceptional employees who strive to help our customers and create value for our shareholders.
Our policies and practices are designed to help us attract, develop, promote, reward, engage and retain our people so they can act with integrity to help customers and deliver within AMP's performance culture. Our people and culture are critical to building a customer-focused, dynamic and respected company. We provide a safe and inclusive work environment where our people can thrive and feel connected to our business.
Supporting and developing our people
We want to build an environment that helps people make decisions and take actions that have genuine value and influence. We provide a range of development and career opportunities to help employees learn and improve together and reach their potential. These include secondments, mentoring, cross-team projects, online learning, external study and development programs.
Ongoing development is key at AMP. We know that developing employees who are resilient, resourceful and collaborative is a sound investment for the business and our community.
How we manage and reward performance clearly signals to all leaders and employees what we value and expect. In 2016 we began the transformation of our performance management system with the introduction of a new performance philosophy called Perform@AMP – Performance is always learning and improving – together. We expect employees to perform for themselves, for AMP, and most importantly for our customers.
AMP understands that life is not all about work. That's why we provide benefits that help our employees stay on top of their finances, family time, health and social lives. AMP's employees benefits include:
- a purchase leave scheme
- preferential access to a Sydney-based childcare centre and generous paid parental leave
- discounted offers for financial products and services, including mortgage rates, employee superannuation plan, insurance benefits, discounted SMSF administration, and financial planning support
- 12% employer superannuation contributions
- the chance to salary sacrifice gym memberships, childcare fees, super contributions, car parking or novated leases
- regular health and wellbeing programs, and on-site gyms at some office locations
- third-party discounts through our online discount program, AMP Advantage
- access to a free, confidential counselling and advice service for employees and their immediate family
- dollar-matching for employee fundraising, and volunteering opportunities.
Supporting our customers
AMP wants to take the mystery out of managing money, to make the complex simple. We do this by giving people the know-how and tools to take control of their finances.
Our Q& website provides answers to financial questions, while amp.com.au has budget planners, debt-reduction calculators and relevant news.
Helping our customers achieve their goals
In 2016, we introduced a new way to deliver quality financial advice to Australians through AMP Advice, in which everything is centred on the personal and financial goals of customers.
AMP Advice, through the AMP Goals 360 experience, brings to life the benefits of financial advice for customers by focusing the entire process on what customers want to achieve. AMP Advice combines digital interaction with personalised expert advice to help customers explore, plan track and most importantly, realise their goals.
How we listen, learn and act on customer feedback
AMP continues to invest in improving our customers' experiences with us. It is one of the measures we use to judge how well we meet our customers' and business partners' needs and expectations.
The Net Promoter System (NPS) is an important part of our customer strategy. It is one of the measures we use to judge how well we meet our customers' and business partners' needs and expectations.
NPS is also how we listen to customers and business partners, learn from it and drive real change and improvement.
More than 1,200 employees are involved in NPS, with 130 teams engaging in weekly huddles to discuss customer feedback and actions to address pain points and ways to improve our service and offering.
In the time since NPS has been implemented, we have managed more than 170,000 responses from customers, advisers and business partners. We've made many improvements as a result of NPS feedback, like more payments methods, SMS notifications, and simpler voice prompts when customers call us.
Customer advocate and whistleblowing
In October 2017, we strengthened our support for customers and stakeholders with the creation of a group-wide AMP Customer Advocate function and enhanced our whistleblowing practices. The new Customer Advocate function helps and supports customers who believe their complaints have not been appropriately resolved through our usual complaint resolution processes.
The Customer Advocate is accountable for ensuring these customers receive fair and reasonable outcomes, and that our customer complaints processes are accessible, robust and transparent. A key responsibility of the function is to work closely with senior leaders across our businesses to review and improve how we help our customers.
We also enhanced our whistleblowing practices to better protect and encourage employees, former employees, contractors, suppliers, advisers and other people involved with AMP to identify unacceptable behaviour. As part of the changes, an independent operator, Your Call, was appointed to act as an impartial and confidential contact and support centre for whistleblowers.
Inclusion and diversity
We believe in a diverse and inclusive culture where diverse thoughts, ideas and experiences drive better ideas and solutions for our customers and a supportive culture for all employees to perform at their best.
We have identified four key ways to increase diversity and inclusion:
Committed and inclusive leadership
Our leaders are supported to create an inclusive culture that helps people play to their strengths and deliver the best results. In our 2016 employee engagement survey, 92% of employees said their manager genuinely supports equality between women and men and 89% said their manager actively supports flexible working arrangements.
Merit-based policies and practices
We focus on equality when we recruit, develop, promote and reward our people, as well as recognise their performance. This includes having gender-balanced recruitment shortlists, developing female leaders, reviewing our pay and performance outcomes and providing policies and practices, such as flexible work, that support all our people.
Decision-making and voice
Diverse thinking and experience across our business is vital in helping us better understand our customers and meet their needs. We use a human-centred design approach to listen to the needs of our customers and guide the design of our processes, products and services.
Measurement, accountability and rewards
We have set strong diversity targets and believe meeting these targets will deliver better results for our business. AMP also conducts an annual pay equity review to identify, analyse and address potential areas of inequity. This commitment is expressly outlined in AMP's remuneration policy.
Gender equality is at the forefront of our inclusion and diversity work, and we have made strong progress in increasing the number of women in AMP’s most senior roles as a result.
In 2016, for the second year, we were honoured to be named an Employer of Choice for Gender Equality by the Federal Government's Workplace Gender Equality Agency. Also in 2016, we appointed four new women to AMP’s management team and were proud to appoint Catherine Brenner as the first female Chairman of the AMP Limited Board.
AMP has challenging gender diversity targets. By the end of 2020, we want women to hold half of our middle-management roles and 47% of senior executive roles. We are also aiming for gender balance on our boards with a 40:40:20 target, whereby boards are made up of 40% women, 40% men and 20% either women or men. AMP conducts an annual pay equity review to identify, analyse and address potential areas of gender inequity. This commitment is expressly outlined in AMP’s remuneration policy.
Representation of women at AMP
|Roles||2020 target||2016 target||31 December 2016||31 December 2015|
|AMP Limited Board||40%||40%||40%||33%|
AMProud is a community group for lesbian, gay, bisexual, transgender, intersex and questioning (LGBTIQ) employees and their supporters. Through the group, AMP aims to promote a diverse and inclusive environment where employees can confidently present themselves and feel free to talk about their family and life. The group is open to all AMP employees, regardless of sexual orientation.