Mosaic Program—Commonwealth Bank
Since 2014 Commonwealth Bank (CommBank) has been working to improve diversity through a range of strategies including the Mosaic program. CommBank has recognised that having a diverse workforce is critical because it reflects society.
CommBank knew that while 40 per cent of their workforce is from a culturally diverse background, the statistics for senior leadership were much lower.
CommBank aimed to strengthen diversity and inclusion by setting diversity targets for senior leadership roles to match the diversity of their customers by 2020, meaning one in five senior workers will have a diverse background. The Mosaic Program includes gender targets to increase the representation of women in senior ranks by having 40 per cent of executive managers and higher roles filled by women by 2020. CommBank is one of only a few organisations to have developed a tracking mechanism that can tell business unit leaders how their diversity strategies are progressing and whether workers involved are staying in CBA employment or leaving.
The Mosaic Program has set out to minimise bias in talent identification, acquisition and management; create accountability through performance measurement; sponsor culturally diverse staff; rotate staff to provide international opportunities; and support leaders to monitor progress against targets.
There has been a greater awareness of gender and cultural diversity within the organisation and CommBank have identified a lack of diversity, primarily at a senior level. Senior leaders are sponsoring people from diverse backgrounds and mentoring is under way to educate leaders about diversity and help staff learn about different roles as they progress through the bank.
The Mosaic Program has facilitated a number of initiatives such as the corporate hijab, an African internships program and a Victoria University mentoring program.
Last updated: Monday, Nov 30, 2020