TALENT MANAGEMENT AND DEVELOPMENTNedbank Groups talent management and development process ensures that the group has worldclass processes and practices in place that position it to attract, develop and retain talent. The aim is to build a reputation as an employer of choice and thereby ensure sufficient depth of talent to meet both immediate and future talent requirements of the group. Strong and confident leadership capability is a critical component of the groups strategy and, as such, leadership development will continue to be a focus area.
In 2006 the group negotiated with business schools that facilitate management and leadership development programmes for staff to sponsor places on their management advancement programme, enabling Nedbank Group to offer 13 places (2005: 3) to representatives of the Black Management Forum and six places (2005: 2) to a representative of Business Against Crime and four places (2005: Nil) to representatives from the Bankseta.Two of the MBA degrees sponsored by the Bankseta for black talent at a cost of R95 000 per candidate were completed in 2006.Nedbank Group is committed to the ongoing development of its staffmembers. The following table reflects the composition of candidates who participated in management and leadership development programmes in 2006:
- The Leadership Development Programme (LDP) provides core skills to young managers and is designed to develop high-potential managers for future leadership roles.
- The Management Advancement Programme (MAP) is aimed at deepening managerial capability by providing skills relating to human resources management, economics, financial management, strategy, marketing, operations management, etc.
- The Strategic Leadership Development Programme (SLDP) aims to develop senior managers into executive roles.
- The Global Executive Development Programme (EDP) offers a significant learning experience to high-performing senior executives through both local and international exposure to best practice.
Short-series programmes and L-Net sessions conducted during 2005/2006During 2006 a total of 777 (2005: 570) employees attended short-series programmes and 1 453 (2005:698) employees attended Leadership Network (L-Net) sessions, including the 357 (2005: 411) who attended the Lessons in Leadership one-day satellite broadcast. During 2006 altogether 151 graduates of Management and Leadership Development Programmes attended alumni sessions.
Breakdown of programme delegates
|% black||% female|
|Harvard Womens Programme||0||2||0||0||0||2||2||2||100||100|
The cost of management and leadership development programmes during 2005/2006
|Cost per delegate||Total cost|
|Programme||No of delegates||(rands)||(Rm)|
|LDP||165||300||14 500||9 000||2,3||2,7|
|MAP||117||220||29 000||26 000||3,3||5,7|
||44||90||39 650||30 000||1,7||2,7|
Nedbank Group prides itself on the development of its employees, and 2006 saw the group investing 5,69% of payroll on training and skills development.
LEARNERSHIPS AND SKILLS DEVELOPMENT
Black skills development spend
|Total basic payroll (Rm)||2 663 818 752||2 617 172 984||2 543 000 000|
|Total skills spend (Rm)||151 491 253||8 690 000||9 450 000|
|% of basic payroll||5,69||3,32||3,79|
|Total black skills spend (Rm)||79 808 008||46 556 190||50 600 000|
|% of basic payroll||3,00||1,78||1,99|
|Less:Skills development levy paid (Rm)||26 638 188||27 524 067||25 430 000|
|FSC black training spend (Rm)||53 169 820||19 032 123||25 170 000|
|% after deduction of skills development levy (%)||2,00||0,73||0,99|
|* Information gathering unaudited.|
Nedbank Group has exceeded the required level of 1,5% of basic payroll spending on black skills development, with a percentage of 2,0% after the deduction of the total skills development levy in accordance with the FSC requirement.
TRAINING OUTSIDE PUBLIC PRACTICE (TOPP)TOPP is an alternative route to qualifying as a South African chartered accountant under the auspices of the South African Institute of Chartered Accountants (SAICA) and is focused on financial management. The technical-skill areas of financial and managerial accounting, financial management, internal audit and corporate governance, as well as taxation, are addressed. Trainees are expected to achieve predetermined levels of competence, under the guidance of qualified supervisors, mentors and assessors who meet the standards of the National Skills Authority.
In 2006 there were 24 trainees (15 males, nine females) on the Nedbank Group TOPP Programme, of whom11 (46%) were from designated groups (eight males, three females). The success rate of the programme was significantly above average with a 100% pass rate in the first qualifying examination (QE1) and 80% success in the second (QE2).
Hayley Plimsoll, a third-year TOPP trainee at Nedbank Group, took the first place in SA in the QE2.
The total direct spend on this programme for 2006 was R6,5 million.
LETSEMA LEARNERSHIP PROGRAMMEDuring 2006 Nedbank Group hosted Letsema III, the third Bankseta-initiated learnership that provides opportunities for development of underprivileged, unemployed matriculants and graduates from previously disadvantaged backgrounds.
The Letsema Learnership Programme consists of six structured modules of one week each and a final module of three days. Learners are placed in business units where they are exposed to learning opportunities when they are not attending lectures. At the end of 2006 83 of the Letsema III learners were offered permanent employment by Nedbank.
The breakdown of Letsema learners is shown below:
THE THUTHUKA BURSARY FUNDNedbank Group is committed to sponsoring 10 students in 2007, another 20 in 2008 and a further 30 students from 2009 onwards as part of the Thuthuka Bursary Fund. This is a SAICA initiative to promote more representative demographics in the South African accountancy profession. This sponsorship will amount to R250 000, R500 000 and R750 000 for 2007, 2008 and 2009 respectively in current terms.The beneficiaries will all come from previously disadvantaged sections of South African youth.
|ITBLP (IT development programme)||4||10|
|DTI Learnership (eThekwini Municipality)||3||3|
|Wealth Management Learnership||5||5|
|Black Planner Academy||10||11|
|Nedbank Corporate Graduate Scheme||16||18|
|Wealth Management Academy||21||26|
|*Letsema figure for 2005 includes learners who participated in the 2004 programme.|
BURSARIES AND EDUCATIONAL ASSISTANCE
Education assistance grantsDuring 2006 Nedbank Group provided educational assistance to the value of R1,2 million (2005: R1,8 million) to 947 staffmembers (2005: 1 285) for the preschool to matric education of their children. The decrease in the number of eligible staffmembers for education assistance grants in 2006 was the result of remuneration adjustments that increased the total taxable remuneration of some previously eligible employees in excess of the R60 000 tax threshold prescribed by SARS.
Study grants and inhouse bursariesThe organisation also provided financial assistance to the value of R2,9 million (2005: R3,6 million) to 345 (2005: 447) staffmembers in the form of study grants for the post-matric education of their children, and bursaries to the value of R3,1 million (2005: R5,5 million) to 2 230 staffmembers.
|Education grants: R1,2 million
Study grants and bursaries: R2,9 million