Telstra 2011 Annual Report Download - page 63

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Telstra Corporation Limited and controlled entities
Corporate Governance Statement
The C&CEF brings together Telstra’s business units and
the individual subject matter specific compliance
programs in an integrated, consistent and collaborative
way. Telstra maintains a comprehensive program-
based approach to compliance, which is a key element
of the C&CEF. Subject matter experts work with the
business units to help understand the many legal and
regulatory obligations and responsibilities faced by the
Company and translate them into appropriate practice.
There are currently 15 programs under the C&CEF,
including health and safety, environment, privacy,
competition and consumer (formerly trade practices),
diversity, disability, fraud, industry regulation,
information security, operational separation, financial
reporting, records management, whistleblowing, policy
governance, and continuous disclosure.
This program-based approach at a corporate level is
supported by a network of senior personnel appointed
to the role of Business Unit Compliance Manager. They
are, in turn, supported by other personnel at the
business unit level with specific responsibility for the
implementation of the compliance programs within their
business unit.
Political and Other Donations
Telstra does not make political donations. However, in
line with other major publicly listed companies, we do
pay fees to attend events organised by political parties
where those events allow for discussion on major policy
issues with key opinion leaders and policy makers.
We make donations and contribute funds to community
and non-profit organisations as part of our approach to
corporate citizenship. Further discussion of your
Company’s corporate citizenship is provided above in
the section entitled “Corporate Citizenship &
Sustainability”.
Diversity and Inclusion at Telstra
At Telstra, diversity includes differences that relate to
gender, age, ethnicity, disability, sexual orientation and
cultural background. It also includes differences in
background and life experience, communication styles,
interpersonal skills, education, functional expertise and
problem solving skills.
Having a diverse range of employees better enables us
to provide the best in service to our customers. It
enables us to foster greater innovation, stronger
problem solving capability, greater customer
connection, increased morale, motivation and
engagement.
Diversity and inclusion at Telstra are business
imperatives. Our approach is based on three strategic
pillars:
• our customers – to leverage diversity as a
business driver;
• our communities – to be a leader in diversity and
inclusion in the broader community;
• our people – to attract, recruit, engage and
retain diverse talent, and embed inclusive
practices within each part of our employee life-
cycle.
Our diversity and inclusion framework has five core
principles – meritocracy, fairness and equality,
contribution to commercial success, that it’s everyone’s
business, and that, at Telstra, it’s a part of who we are.
Diversity and inclusion at Telstra is led by Telstra's
Diversity Council, which is chaired by the CEO and has
been in place since 2006.
On 30 June 2010, the ASX Corporate Governance
Council released the Amended ASX Principles and
Recommendations which included amendments in
relation to diversity. While the changes do not take
effect until the first financial year beginning on or after
1 January 2011 (in Telstra’s case the financial year
commencing 1 July 2011), Telstra has over the past
year already taken steps to adopt key provisions of the
Amended ASX Principles and Recommendations. Telstra
continues to be an early-adopter of best practice
corporate governance standards.
As disclosed in last year’s Annual Report, these steps
include:
• responsibility for diversity has been included in
the Board Charter, the Nomination Committee
Charter (Board diversity) and the Remuneration
Committee Charter (diversity at all levels of the
Company below Board level); and
• the Board has formally adopted policies in
relation to diversity at Board level and at all
levels below the Board, reflecting the principles
and practices Telstra has had in place for a
number of years – this provides the framework
for measurable objectives to be set by the
Board.
The Board has also now established measurable
objectives for achieving diversity at all levels of the
Company, as outlined below.
FY12 Measurable Objectives
The Board has established the following measurable
objectives for achieving diversity at all levels of the
Company in respect of fiscal 2012:
• that by the end of FY13, there will be 3 women
on the Board, representing a female gender
representation among non-executive Directors
of at least 30%;
• 50% female representation in 2013 graduate
intake;
• promotion rates for women to exceed their
representation at Business Unit level;