2016 Annual Report

egional australia bank annual report
regional australia bank annual report
14
member goals
15
staff goals
MEMBER GOAL: DELIVER MORE
VALUE TO MEMBERS
Result: In Progress
REDUCE MEMBER EFFORT
Member effort is designed to provide feedback about the
experience a member has had interacting with Regional
Australia Bank. A recurrent (and random) ‘member
effort’ survey question has been automated in Internet
Banking. In 2013-14 a baseline was established and 92%
of respondents either agreed or strongly agreed with the
statement that “Regional Australia Bank makes banking
easy”. In 2015-16 we achieved a strong result of 90%.
% of Actual Responses
Strongly Disagree (0.7%)
Disagree (1.6%)
Neither Agree nor Disagree (7.7%)
Agree (43.4%)
Strongly Agree (46.6%)
0.7% 1.6%
COMPETITIVE PRODUCT PORTFOLIO
We launched a new service to help first home buyers
enter the property market in the form of a limited
guarantee. The Head Start Family Guarantee is a service
we provide that benefits the guarantor by reducing their
risk of exposure whilst allowing the buyer to get into the
property market and achieve independence sooner.
Our pricing for personal loans has been made more
competitive with the restructure of our standard car loan
and the introduction of the new Accelerator Car Loan for
newer model cars.
Home lending interest rates remained under most of the
major listed banks advertised rates for standard variable,
packaged and basic home loans.
CONTEMPORARY BRANCH NETWORK
The relocation of our branch in Tamworth has continued
our efforts to enhance our member experience with
efficient, open plan and sustainable branch concepts that
seek to better cater for customer needs via a variety of
self-service options.
STAFF GOAL: BUILD A CULTURE
TO SUPPORT ORGANISATIONAL
STRATEGY
Result: In Progress
At Regional Australia Bank competitive advantage
depends on the ability to move quickly, decisively and
efficiently in sensing and responding to change. We are
continuing to strengthen the Regional Australia Bank
vision and purpose of “to be the trusted bank in our
communities”, incorporating our values of Integrity,
Respect and Fairness. Empowering employee behaviours
aligned with Regional Australia Bank values and mission
are sustainable elements that will lead to overall success
and cultural wellbeing.
EMPLOYEE ENGAGEMENT = 67%
Regional Australia Bank’s work in developing high
employee engagement continues, with our annual
Employee Engagement Survey being completed for
the third time. Although it has slightly dropped since
last year (63% to 71% to 67%) This result places Regional
Australia Bank in the top quartile for Australian and New
Zealand financial institutions. Additionally, this result
is significantly higher than the average for Banks and
Diversified Financials in Australia and New Zealand (60%).
Importantly, the engagement survey showed that 75%
of employees would recommend Regional Australia Bank
as an employer to a friend, while 76% of our employees
would say great things about working at Regional
Australia Bank.
Engagement Score
Average Financial
Institution Australia
and New Zealand –
(60%).
Regional Australia
Bank 67%
100
80
60
40
20
0
60%
67%
Source: AON Hewitt
46.6%
7.7%
43.4%
DIGITAL SERVICE UPGRADES
We upgraded our mobile App with PIN and Swipe access;
Internet Banking was made accessible to people with
visual impairments; making international payments was
made easier via a convenient self-service online channel
and we also added the ability to send payment receipts
when paying individuals within Internet Banking.
Executive Team members serving lunch to congratulate staff on the completion of a major organisational project.