Corporate Responsibility Report 2006 - putting you in the picture - Permanent TSB Group
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Corporate Responsibility Report 2006
…putting you in the picture
Contents
1
2 Message from the Chairman
21 Reducing our impact on the environment
Introduction from our Chairman, Gillian Bowler, Progress on energy and waste management in
explaining our approach to corporate responsibility 006. Latest available data on use of renewable
and commenting on our progress in 006. energy and waste recycling. New initiatives to
improve our work environment.
3 Message from the
24 Developing partnerships
Group Chief Executive with our local communities
A statement from David Went highlighting some Launch of major community programmes in
of our achievements in 006 and commenting on 006. Latest data on support for staff charities.
the business environment. Sponsorships and donations in 006 and an
update on student mentoring programmes.
4 The way we do business
29 Global Reporting Initiative (GRI)
An explanation of corporate responsibility – Explanation of the GRI. Our summary assessment
what it means and how we implement it in of our level of disclosure under the new Global
Irish Life & Permanent. Reporting Initiative “G3” guidelines issued in
October 006 and a guide to where we have
reported on each section of them.
6 Focusing on customers and
30 Group overview
excellence in customer service An easy-to-follow summary guide to the Irish
The latest results for our customer satisfaction Life & Permanent group covering our history, our
indices. Complaints and concerns report. structure, strategy, markets and market share and
Customer protection, our business partners and latest financial results.
complying with regulation.
12 Promoting accessibility
32 Our agenda for 2007
for our customers and our employees A chart summarising the plans we had for 006, how
Progress in 006 and plans for 007 on making our we performed against them and our plans for 007.
buildings, branches, ATMs and websites accessible
to people with disabilities.
15 Making our company a
33 External commentary by
better place to work Business in the Community Ireland
The latest statistical data analysing our workforce. A critical review of our 006 Corporate
Our policy for employment of people with Responsibility Report from Tina Roche, Chief
disabilities. Equality/diversity audit. Health, safety Executive of Business in the Community Ireland.
and well-being update. Results of employee
surveys and training data for 006.
Message from the
Chairman
Strategic vision Community involvement
Our strategic vision in Irish Life & programme
Permanent (IL&P) is to become the No. 1 One of the highlights of our corporate
provider of personal financial services in responsibility (CR) activities in 2006 was
Ireland. To achieve this objective, we need the development of a comprehensive
to develop successful and sustainable community involvement programme
businesses. Our approach, consistent with with initiatives ranging from an Ageing
our group values, has been to develop Study and Care and Repair Services for
innovative products, a wide range of older people to a major Youth Citizenship
distribution outlets and to focus on Programme and an innovative new
achieving excellence in customer service. venture – the first Ethnic Entrepreneur
Awards held in Ireland.
Dialogue with stakeholders
We also recognise the importance of Aiming for continuous
Gillian Bowler continuous two-way dialogue with our improvement
Chairman stakeholders. Through our investor Corporate responsibility is a process of
Irish Life & Permanent relations programme, we organise regular learning, innovation and continuous
meetings between our senior executives, improvement. The publication of our CR
institutional shareholders, analysts and Report is a highlight in the process but by
brokers. At our AGM, any shareholder no means the end result.
can raise issues or questions directly with
myself and the Board. We are happy with the progress made
on our CR agenda in 2006. We now
We also have policies and programmes have a full CR programme in place
in place throughout the group to throughout the group and we will be
promote two-way communication with aiming for continuous improvement in
stakeholders. We have taken a lead in CR performance in 2007 and beyond.
Ireland in the use of customer satisfaction
indices, we carry out regular employee
surveys and we review supplier contracts
and introduce new suppliers to the group.
Indeed, we want this report to be an open
dialogue with our stakeholders and we
encourage feedback from readers.
Message from the
Group Chief Executive
3
Increasing commitment to Competitive business
corporate responsibility environment
During the last two years, we have The businesses that we are in are very
increased our commitment to CR competitive. We face continuous challenge
throughout the group and the results of from competitors and from new entrants
this are evident in this year’s CR Report. to the financial services marketplace and
from changing practices, for example, in
We have used the Global Reporting
banking charges where we have taken a
Initiative G3 Guidelines (see page 9)
lead in ending normal transaction fees.
launched in October 006 and we are one
Extra competition offers customers more
of the first companies in Ireland to adopt
choice and in order to retain customers
this new standard.
and win new ones, we need to continually
In our 005 Report, we made a number of offer value for money and to provide
commitments for 006 that we met during world-class levels of service.
the year. These include publication of a
David Went policy for the employment of people with Sustainable growth
Group Chief Executive disabilities, improved disability access,
Irish Life & Permanent development of a customer satisfaction In this challenging environment, the IL&P
index for permanent tsb and, as the CR programme underpins the values
Chairman has explained, the launch of of the company and helps us better
some major community initiatives. serve our stakeholders and grow in a
sustainable way. This report is a reflection
of our activities, of our way of doing
Recognition and awards
business – the IL&P way.
In 006, we received a number of
important awards that recognise the
commitment of management and staff to
continuous improvement in products and
services. Awards included:
n the IBA Service Excellence Award
for Irish Life from the Irish Brokers’
Association;
n Best Mortgage Provider of the Year for
permanent tsb from MoneyMate &
Investor Magazine; and,
n the Investment Management
Excellence Award for Irish Life
Investment Managers at the KPMG
Financial Services Excellence Awards.
The way we do business
There are many Who are the most important What is important to us about how
people to our business? These are our we carry out our business? These are our
different definitions stakeholders. Some of our most important
stakeholders are:
business values. In Irish Life & Permanent, we
have chosen to adopt the following values:
of corporate Customers
responsibility but Customer
Employees Honesty
Focus
they all depend
Shareholders
on two essential
Communities
elements – (where we do business) Innovation High
Standards
stakeholders and Suppliers
business values. These are the people who can influence
how successful we are as a business.
Corporate responsibility is about running our business according to our values to create
long-term value in a commercial context for our stakeholders. In Irish Life & Permanent,
we put our values to work. In this report, we explain what we have done in 2006 to
achieve these aims.
Examples:
Providing excellent service to our customers (Customer Focus/High Standards)
See pages 6 to 10
Using Customer Service Indices to track customer satisfaction levels
(Customer Focus/Innovation) See pages 7 to 9
Being open and honest in our dealings with all stakeholders – use of Plain English,
Employee Speaking Up Policy, transparency of charges etc. (Honesty)
Making the company a better place to work for our employees (High Standards)
See pages 15 to 20.
Developing Health and Well-being Programmes for employees (Innovation/High Standards)
See page 19.
Reducing our impact on the environment (High Standards) See pages 21 to 23
Developing partnerships with reputable community partners (Innovation/High Standards)
See pages 24 to 26
By living our values in practice, we make the company a better investment for our
shareholders – creating value for them too.
5
How do we implement corporate responsibility in action in Irish Life & Permanent? The Board of Irish Life & Permanent has
responsibility for setting overall policy
and objectives for corporate responsibility
Our vision Our values and receives regular updates on our CR
activities and plans.
To be the No. 1 provider of personal Honesty, Customer Focus,
financial services in Ireland Innovation, High Standards Our Group CR Manager, Gerry Loughrey,
is responsible for the day-to-day
This is decided by the Board of These are agreed at business
management of our CR programme.
Directors and Board level
We have a group CR Committee,
chaired by our General Manager-Investor
Relations with representatives from
across our businesses. The Committee
meets quarterly to review progress in
implementing our CR programme and
These translate into Policies decide future direction. All employees are
covering each of our stakeholder groups involved in implementing CR throughout
the organisation.
In each section of this report, we
summarise our policy*, explain the
actions we have taken this year to
Customers Employees Shareholders Community Suppliers implement policy and highlight challenges
that remain. At the end of the report, we
summarise our plans for 007.
*Detailed policies are available on our group
website: www.irishlifepermanent.ie.
Decide Policies
Feedback Feedback
from from
Stakeholders Take Actions Stakeholders
Monitor Performance Gerry Loughrey
Corporate Responsibility Manager
gerry.loughrey@irishlife.ie
Tel: 01-70 57
Focusing on customers and
excellence in customer service
Customer focus We have more than one million customers
in Ireland. These are personal customers
Irish Life Investment Managers (ILIM)
operates as a separate company within
who deal directly with us via branches, the Irish Life & Permanent group. It has
is one of our telephone or on-line services and through a stated commitment to service and
our extensive network of financial advisers communication with clients including daily
core values. and intermediaries. Irish Life Corporate
Business provides services to employers
pricing of investment funds and regular
meetings with trustees and advisors.
Our group policy is and in our fund management company,
Irish Life Investment Managers, about
Irish Life received The IBA Service
Excellence Award 2006 from the Irish
50% of business comes directly from
to have structures institutional clients.
Brokers Association and The IBA Top
Supporting Management Team Award
Our main businesses – Irish Life 2006.
and programmes Retail, Irish Life Corporate Business
permanent tsb received two awards at
and permanent tsb – have customer
in place that satisfaction programmes in place. Irish
Life Retail and permanent tsb use an
the MoneyMate and Investor Magazine
Awards – Best Mortgage Provider of the
Year 2006 and Best New Product for the
support this. independent research company – The
Leadership Factor – to track customer
3V credit card voucher.
satisfaction levels each year. Actions ILIM also received two awards in 2006 –
are taken to address the issues raised the Investment Management Excellence
by customers in the research. Irish Life Award at the KPMG Financial Services
Corporate Business tracks service levels Excellence Awards and the Best Pension
directly with brokers and also uses Fund Manager 2006 at the MoneyMate
independent research from Milward and Investor Magazine Awards.
Brown IMS.
In addition, we have taken a lead in the
use of Plain English in our customer
communications in both Irish Life and
permanent tsb.
Customer Satisfaction Results
permanent tsb – 2005 82.0%
Irish Life Retail – 2005 79.1%
Irish Life Corporate – 2006 78.7%
Bernie Healy, Irish Life Retail, Catherine
Hayes, permanent tsb and John Alford,
Irish Life Corporate Business.
Over 400,000 Intouch
newsletters issued
In 2006, we updated our Intouch newsletter
each quarter to keep customers up to date
Customer Satisfaction – Customer satisfaction levels with the most recent improvements made
Retail Life Business
in Irish Life Retail have shown in our business. In June, we researched
the design and content with customers
Irish Life Retail consistent improvement over and made a number of changes as a result
Customer Satisfaction Index a three-year period of this customer feedback. This included
a snapshot of current market trends and
Year Target Actual
Making promises to customers information on tracking funds on line over
2003 **** 72.9% any period. By the end of the year, we
Since we began the Intouch programme had issued 400,000 Intouch newsletters to
2004 73.8% 76.5% three years ago, our goal has been to customers.
launch a set of customer promises.
2005 77.4% 79.1%
Ultimately we aim to process all 24-hour customer information
transactions within 24 hours, getting it
right first time for our customers. In the In 2006, we introduced a 24-hour
meantime, the challenge for us has been customer information line. Using a
to develop a set of promises that are personal identification number (PIN), a
meaningful for our customers and that we customer can access a range of services,
Our yearly survey of customer satisfaction including:
know we can meet.
was conducted in January and February
2006 and involved 1,700 customers, In 2006, we compiled a list of promises n checking the value of their savings,
chosen at random. The result, at 79.1% taking into account what customers pension or investment plan;
satisfaction, exceeded target. The main told us was important to them from our n listening to daily updates on the
elements contributing to this were: customer satisfaction research. We invited investment markets; and,
customer focus groups to review the draft
n value for money and performance of n leaving a message or, during working
promises and to give their feedback.
our products; hours, speaking to a member of the
We now have a set of 11 customer customer service team.
n quality of advice given by staff; and,
promises which were launched to
n listening to our customers and treating customers in December 2006. SSIA website developed
them better.
Examples are: “Responding to you Special Savings Investment Accounts
The effective handling of problems and promptly” – stated timeframes for (SSIAs) began maturing in May 2006 and
complaints emerged as the key area for responding to queries by telephone, email will continue to do so until April 2007. We
action in 2006. During the year, the focus or in writing and “Worldclass financial understood that many people would be
was on raising the responsiveness of staff advice” – advice to suit a customer’s unsure of their responsibilities and options
to the problems of customers and the personal needs and a personalised in the period coming up to maturity so we
need to deal with them speedily. The financial report. developed a website to help make things
target satisfaction level for 2006 is 80.0%. as clear as possible (www.ssiaoptions.ie).
We issued more than
400,000
Intouch newsletters
to life customers
Morgan Whelan, Manager, permanent tsb Dun
Laoghaire branch with Brendan Lynott, Head of
Branch Management Services, permanent tsb.
Customer satisfaction –
Irish Life Corporate Business
Irish Life Corporate Business
Customer Satisfaction Index Customer satisfaction – are running a number of pilot programmes
permanent tsb to explore the most effective way to
Year Target Actual improve the our telephone service levels.
In our 2005 Report, we said that we would
2004 **** 72.0%
be launching our ‘Customer Central’ Customer Central programme
2005 74.0% 73.7% programme in 2006 to focus on doing best
at what matters most to customers of launched in permanent tsb
2006 78.0% 78.7%
permanent tsb. following customer
Most of the day-to-day business dealings in As a first step, the largest exercise in satisfaction research
the division are with brokers, so improving customer research ever undertaken by the
service to brokers is a focus of attention. bank was carried out during February to Handling customer complaints and
April 2006. A random survey of more than problems: In December 2006, we
Irish Life Corporate Business uses a
2,500 customers produced a satisfaction launched a Complaints Charter for
customer service index of 13 key services
score of 82%. customers (www.permanenttsb.ie/
calculated monthly. The overall outcome
contact-us/complaints-charter.asp). This
for 2006 was 78.7 %, ahead of the target of The priorities for action identified by the
sets out how a customer can make a
78%. Further improvement is planned for survey were:
complaint, what happens next and what a
2007, with a target of 85%.
n improve the branch experience; customer can expect under the complaints
process.
Irish Life Corporate Business n handle customer problems quickly and
effectively; and, Mortgage account customers: The main
increases lead in independent issue for mortgage customers was that
n improve our relationship with
service satisfaction survey mortgage account customers.
they did not understand that they had
the flexibility to change rates. We sent
Also, in a yearly independent survey of A series of actions were taken in response information to all mortgage customers
brokers carried out by Milward Brown to the survey and these included the work on this with their rate change notification
IMS, the division was ranked first on outlined below: in October 2006 and their Mortgage
service with a rating of 72% and also Statement in January and February 2007.
Branch experience: Almost all of our
widened the gap from 6% to 7% between
branches have been upgraded to provide Maturing rate customers are automatically
it and the second-ranked company, which
completely private meeting areas where sent a letter to let them know about their
scored 65%. Again, we take action, where
customers can discuss their private flexibility to change rates six weeks before
necessary, to make improvements based
finances. Our intention is to upgrade the their rate matures. And now all mortgage
on feedback from brokers.
small number of outstanding locations in customers are phoned annually for the first
Payments under the profit-sharing 2007. In addition, state-of-the-art lodgement five years of their mortgage, to discuss any
scheme for Irish Life Corporate Business and withdrawal machines were installed in queries they have including flexibility to
employees are linked to the results of many branches to help relieve queues. We change rates and Tax Relief at Source.
these two surveys.
7,500
Customer issues handled
by customer relations
departments
Customer Complaints and Concerns
Company permanent tsb Irish Life
2005 2006 2005 2006 Increase in number of
Total Received 3,536 3,211 2,637 4,316 customers switching banks
Ombudsman Decisions Received 28 34 60 113 As a result of ending normal transaction
fees in 2005, permanent tsb opened
Complaints Upheld 7 2 5 7
84,500 new current accounts in 2006,
Not Upheld 6 12 48 75 compared with 67,000 in 2005. This
Partly Upheld 8 7 6 28 benefit was also extended to all existing
current account customers in 2006.
Outside Terms of Reference 3 12 1 3
Resolved Amicably 4 1 0 0 permanent tsb met
Plain English targets
Current account customers: Current Complaints to permanent tsb fell by 9%
permanent tsb has now achieved the
account customers did not realise that they in 2006.
Plain English Crystal Mark for its core
could use ATMs at AIB, Bank of Ireland
The significant increase in concerns and brochures and all new correspondence
and Ulster Bank. We advised all current
complaints recorded in Irish Life was as is now written to achieve the Crystal
account customers of this in a newsletter
a result of us continuing to record both Mark. In 2006, our Customer Mortgage
that we sent them with their statements
complaints and concerns. A concern is Statement was fully redesigned to make
in the second half of 2006. ATM customers
defined as when: it easier for customers to understand.
were also concerned that they could not
The majority of customer correspondence
use their ATM card abroad. We introduced n a customer is upset or angry,
has now achieved the Plain English
this facility in November 2006. Now all disappointed or frustrated; or,
Crystal Mark.
ATM cardholders can use their existing
n we have made more than one attempt
ATM card where ever they see a Cirrus
to deal with a customer’s enquiry and
logo.
have not dealt with it properly and the
customer has had to contact us again; or,
Customer complaints
n we miss a commitment we have made
and concerns
to a customer.
permanent tsb introduced a revised
Towards the end of 2005 and in early 2006
complaints management system in 2006.
almost all of our Irish Life Retail Customer
The Customer Feedback Management Service staff (400) completed a Concern
system was introduced to all our branches Handling Programme.
and to a number of our head office
Irish Life received the award of Customer
departments that deal directly with our
Complaints Team of the Year from the
customers. This system improves our
Institute of Customer Service in Ireland at
tracking of, and reporting on, customer
its Customer Service Awards 2006.
feedback. A comprehensive training
programme was rolled out in conjunction
with the new system.
Irish Life and permanent tsb have
permanent tsb opened adopted the Plain English standard
84,500
for customer communications.
new accounts for customers
switching from other banks10
Protecting customers As a result of an increase in phishing* Anti-money laundering
and employees internet fraud targeting financial institution
We have systems and controls in place in
websites, we issued approximately 70,000
Internet Security all of our businesses to comply with legal
letters to customers giving them advice
and regulatory requirements to combat
Irish Life & Permanent’s customer online on how to stay secure online. We also
money laundering. All employees receive
systems are designed to offer quick and provide guidance on our permanent
anti-money laundering training every year.
easy access to customer accounts. They tsb website (www.permanenttsb.ie) and
provide a 24-hour banking platform include warnings at the bottom of all of
our statements. Physical security
where customers can carry out an ever
increasing number of transactions. permanent tsb has a security policy in
ATM fraud place and a dedicated security team. The
Examples are:
bank is committed to the highest security
ATM fraud has become a real security
n getting the current value of an Irish Life standards for the safety of employees
issue as targeting of ATMs increases
savings or investment plan; and members of the public using bank
across the financial network. In an effort
premises in the normal course of business
n switching between funds; to provide increased security against
and also for the assets of the bank. The
card skimming to our customers who
n post-dating bill payments on the security team is also responsible for
use permanent tsb ATMs, we upgraded
permanent tsb OPEN24 wesbite; and, protecting the bank against fraud.
the anti-fraud software on our network
n international transfers under OPEN24. of through the wall ATMs in 2006. We
have also added new security information Intermediaries
We consider online security to be an
screens on our ATMs. Irish Life & Permanent has always
integral part of transacting online and, as
a result, we use up-to-date technologies recognised its responsibilities to provide
and maintain rigorous security standards the best possible service while at the same
and procedures with a view to preventing
unauthorised access to customer data.
Our customers also have a role to play
in keeping their home PCs secure
and in 2006 we ran two campaigns in
permanent tsb to make customers
aware of how they should protect their
home PCs. The first campaign provided
customers with a list of precautions that
they should take when using the web
and ATM machines. This was sent with
840,000 current account statements
issued over a 12-week period.
*Note: “phishing” is sending an e-mail to a user falsely
claiming to be an established legitimate enterprise in We have self-service banking machines
an attempt to scam the user into surrendering private in approximately half of our branches.
70,000
information that will be used for identity theft.
letters issued about
staying secure onlineAnthony Maher, Head Porter, permanent tsb, receiving
a delivery from John GouIding of Axis Office Supplies.
11
example, being involved in the decision-
making process in relation to insurance
claims). The requirements are designed
to set up minimum standards across all
time respecting the relationship between customers. It covers the full cycle of financial services providers and to make
the broker or intermediary and their client. customer service from the first contact sure that consumers receive certain
In February 2007, Irish Life received the point, to rules about advice and sale minimum levels of professionalism and
IBA Service Excellence Award 2006 from of financial products, to requirements expertise from their financial advisers.
the Irish Brokers Association. Irish Life also for customer care and servicing and
The vast majority of our staff who
received the Top Supporting Management procedures for dealing with complaints.
provide advice or carry out the activities
Team Award. Many of the requirements have been
in question already have the minimum
standard practice for a number of years
qualifications or meet with the minimum
Suppliers in our two main retail businesses (Irish
experience standards. Where there
We depend on a large number of Life Retail and permanent tsb). Where
are any gaps – and for new staff being
suppliers to provide goods and services changes are needed, these are being
recruited – these staff will now begin
to us efficiently to keep our businesses made in the relevant business units.
studying for the appropriate examinations.
running smoothly. During 2006, we Minimum Competency Requirements We have put in place training courses and
reviewed 62 supplier contracts and These requirements apply from 1 January additional supervisory procedures to meet
introduced 12 new suppliers to the group. 2007 to individuals who give advice to with the requirements in such cases.
These reviews are carried out by our consumers on retail financial products or
We will also be making sure that our
Group Purchasing Department in who carry out certain other activities (for
staff complete continued professional
consultation with the relevant business development using a combination
owners. All aspects of the contract are Consumer Protection Code – of in-house courses and training and
reviewed including service levels and August 2006 other courses provided by the relevant
value for money. professional educational bodies.
The Code is divided into sections
Complying with regulations as follows: Responsible selling and lending
As part of our planning for
Our policy is to comply with all legal and n General Principles
implementation of the Consumer
regulatory requirements and to deal with n Common Rules for all Regulated Protection Code requirements, we started
regulatory authorities in an open and co- Entities work in 2006 to introduce customer fact
operative way. finds for banking products. This work will
n Banking Products and Services
During 2006, the Financial Regulator be finished during 2007.
n Loans
finalised two major sets of rules dealing Advertising
with how financial services companies n Insurance Products and Services
The Consumer Protection Code sets out
should deal with their customers. n Investment Products a detailed set of rules on the advertising
Consumer Protection Code n Advertising of financial services and products. The
This contains a complete set of rules Code replaces a number of previous
The code is available on the website of the
setting out the how financial services Codes and all our advertising observes
Financial Regulator (www.ifsra.ie)
companies should deal with their the requirements.
62
supplier contracts
reviewedPromoting accessibility for our
customers and our employees
12
Our policy is to Disability access
What does the law say?
We have an objective to achieve full
Equal Status Act 2000
make our buildings accessibility within the constraint of
reasonable cost. This is also a legal In essence, the Act (Section 4(1))
fully accessible requirement under the Equal Status Act
2000. We are conscious that we have not
requires the provider of a service
to do all that is reasonable to
yet fully achieved this aim and that it will
and to make our take all of 2007 and 2008 to do so.
accommodate the needs of a person
with a disability.
products and Achieving full accessibility is The Act (Section 14 (b)) also
an important goal for us allows for preferential treatment
services accessible to promote equality of opportunity
or to cater for people with special
to all customers. needs.
Buildings
During 2006, we focused on improving
access to our group head office. It is located
in the Irish Life Centre which is owned by
Irish Life & Permanent. This is the largest
premises in the group office portfolio. Prior
to 2006, there was no disabled access from
Philip O’Neill, Manager, Tralee
the underground car park in the Centre to
Branch – permanent tsb with
Terry O’Brien and his wife street level or from street level to another
Teresa O’Brien. office suite in the Centre.
Type of distribution outlet Number/Availability
Branches and agencies 157
Financial Advisers 500
Brokers and Intermediaries More than 2,000
OPEN24 24 hour self-service online banking. Help by
telephone: Mon-Fri 8am-10pm Sat 10am-2pm
Online & Telephone access 24 hour online access for pension and investment
for Life customers customers. Help by telephone: Mon-Thu 8am-8pm
Fri 8am-6pm Sat 9am-1pm
ATMs More than 2,000 nationwide and 900,000
internationally
e145,000
contribution to two new
lifts for the Irish Life CentreLiam Keighery, Irish Life Centre
Manager in front of one of the
two new lifts installed in 2006.
13
law to make adequate provision to enable
people with disabilities to use the building
(Building Regulations S.I. No. 179 of 2000 –
Part M). We make sure that we comply.
Hearing aid loop systems
A hearing aid loop system is a device
that transmits sound directly from a
In 2006, with funds provided by all the Plans for 2007 microphone to a hearing aid. This allows
tenants in the Centre (Irish Life & for clear pick-up of what is said – there
Apart from our head office, we also
Permanent’s share was 34%), we is no need for a raised voice and there is
have 134 other office premises in the
commissioned and installed two new no interference from background noise.
group, of which 103 are branch offices
lifts at a cost of e425,000 to provide full Loop systems are commonly used in
of permanent tsb. Nearly all of these
accessibility for people with a mobility cinemas, conference centres and other
premises are fully accessible but we have
impairment. Park Rite, which operates the large venues. The range of the system
identified 11 branch premises that are not.
car park in the Centre, has also provided can be set to suit the location and for
Of these, six are in listed buildings. These
a number of disabled car parking spaces business premises, e.g., in a bank branch,
are buildings that are listed as protected
beside the first new lift to accommodate the range is typically set to a maximum of
structures, for example, because of special
people using the new facility. The lifts are one metre.
architectural interest. All works to these
monitored by camera from the Centre’s
buildings are subject to special control In 2006, we installed loop systems in
security office nearby for the safety of users.
and approval under the Planning and almost all of our premises including
The second lift runs from ground floor level Development Acts. branches of permanent tsb. Some
beside the Irish Life Mall to “Garden” level technical difficulties occurred with the
(first floor level) in the Centre. Tenants Focus will shift to branch installation in a small number of locations
located here include The Food Safety
Authority of Ireland and The Commission
offices in 2007 (approximately 12) and the intention is to
address these early in 2007.
for Communications Regulation. From surveying these branches, it is
apparent that making some of them fully
Focus on Group Head accessible will present a major challenge
Office in 2006 – particularly those that are in listed
buildings. However, we intend to do
In addition, we made changes to the what is possible within the constraints of
reception desk in the Irish Life Building. reasonable cost in 2007.
Previously, the desk was at a uniform
During 2006, we completed major
height but was unsuitable for visitors who
refurbishments of six permanent tsb
are wheelchair users or of small stature.
branch offices, including Tralee Branch
We reduced the height of the desk on
(pictured on the previous page). In a
either side and resurfaced it to make it
building where major refurbishment
suitable and appropriate for all users.
works are carried out, we are obliged by
Hearing aid
loop systems Hearing aid loop systems have been
installed in installed in our branch offices. Picture
shows Liz O’Donnell, Senior Customer
nearly all of Adviser serving a customer in the Bandon
branch of permanent tsb.
our officesaWe have installed Browse Aloud
software on six permanent tsb websites.
14
ATMs
We have 125 through the wall ATMs and We also have 59 self-service banking
we completed an assessment of these at devices located in our branches and
the end of 2005. There are a number of another 111 convenience ATMs. All these
internationally recognised guidelines for machines are accessible as defined under
determining the accessibility of ATMs. the ABA guidelines.
One of the clearest set of guidelines that
A summary of the data relating to PIN
we have found is the set issued by the
pad height is set out on the table below.
Australian Bankers’ Association (ABA).
In total, 219 or 74% of our automatic
These recommend a maximum PIN pad
banking machines meet the accessibility
height of 950mm (as measured from floor
height guidelines.
or ground level to the centre of the PIN
pad). Using these as a reference, we have Height of PIN Pad Number of
determined that 73 of these machines Machines
are positioned above the level that would Websites
make them accessible for wheelchair users. 950mm or below 219
951mm to 1100mm 15
During 2006, we installed new software,
called Browse Aloud (www.browsealoud.
1101mm to 1200mm 43 com) on six permanent tsb websites.
1201mm to 1300mm 13 This software reads web pages aloud for
people who find it difficult to read online.
Above 1300mm 5 This is suitable for people with visual
Total 295 impairments, low levels of literacy or who
do not have English as a first language.
During 2006, we received complaints In 2007, we plan to extend the use of
about the height of two ATMs – those Browse Aloud to Irish Life websites.
located in our branches in Castlebar
and Letterkenny. We repositioned both Our Irish Life & Permanent group website
machines at a more appropriate height. – www.irishlifepermanent.ie – complies
with all of the Priority Level 1 criteria of
We have set funds aside in 2007 to begin the World Wide Web Consortium (W3C).
repositioning other machines. (Web Content Accessibility Guidelines
Version 1.0).
74% of our automatic
banking machines meet
height guidelines for
accessibility
Paul O’Hara, Manager, Castlebar
Branch of permanent tsb with
customer Paul Burton.
Browse Aloud software
installed on
6
permanent tsb websitesMaking our company a
better place to work
15
On average, we are recruiting about
Our policy is to 1,000 new employees every year.
offer competitive
terms and
conditions of
employment. We
also have specific
policies covering
equality and
diversity, health
and safety, and
speaking up. Along with many other areas of Irish Items of note during the year include:
society, employment policy and practice
n publication of a policy for the
have changed beyond recognition in the
employment of people with disabilities;
last 20 years. Flexible working practices
are commonplace; representation of n completion of an equality/diversity audit;
women in the workplace has increased
n development of a health and well-being
hugely and equality of treatment for all
programme in permanent tsb;
employees is now a statutory obligation.
n introduction of revised pension scheme
In responsible organisations, the bar that
arrangements for new employees; and,
is used to measure employment standards
keeps rising. In Irish Life & Permanent, our n an increase of 25% in the number of
aim is to become an employer of choice training days.
and to be recognised as nothing less than
a great place to work. Our progress along
this path in 2006 is set out in this section
of the report.A group of new employees in Irish Life
on completion of induction training.
16
Recruitment and retention
in 2006
2005 2006
The number of job applications alone that Analysis of our workforce at
Total number of we receive – averaging over 19,000 a year the end of 2006
5,147 5,458 for 2005 and 2006 – indicates a huge level
employees at year-end
of interest by prospective employees in The data analysing our workforce at the
External applications obtaining employment with us. As against end of 2006 is shown in the graphs below.
17,000 21,450
for positions that, the average turnover rate of 12.8%
New employees for 2006 (2005:13.6%) shows that there are Our workforce is predominantly
981 1,167
recruited1 challenges in retaining staff – particularly in full time with a majority of
some functions and departments. Turnover
Seasonal employees
173 234 levels tend to be higher than average in employees over 30
recruited telephone contact centres and lower in areas
Internal appointments of the organisation offering flexible working By Contract and Type
200 225 arrangements.
and promotions
Part-time 17%
Average turnover2 13.6% 12.8% We continue to recruit temporary Temporary 1%
employees during the summer to support Permanent 16%
7.5 6.8 our term-time flexible working policy.
Average days absent
Days Days There was an increase of 35% in 2006 in
1 Includes staff employed on fixed-term contracts but
term-time employees, reflecting our policy
excludes seasonal staff. of maintaining customer service levels
2 Excludes staff employed on fixed-term contracts who
during the summer months.
joined and left within the year.
At the end of 2006, 18.4% of our
Because of our scale, the employment employees had some form of flexible
data for Irish Life & Permanent in many working arrangement, compared with
respects reflects the wider employment less than 18% at the end of 2005. The
and economic landscape in the country. total number of staff with flexible working
However, it is also an indicator of how arrangements increased by almost 9%
we are seen by people looking for between 2005 and 2006. Full-time 83%
Temporary 4%
employment and whether or not we are Permanent 79%
The increase in the level of internal
regarded as an employer of choice.
appointments and promotions is
consistent with our policy of offering The vast majority (95%) of our employees
Our recruitment and retention career progression for suitable employees are permanent. We recruit temporary
levels reflect both our scale throughout the group. employees mainly to support our flexible
working policies.
and the wider economy
95%
We recruited more than
1,000 of employees have
new employees in 2006 permanent positions17
By Age Profile Employment of people people with disabilities. This can include
with disabilities providing modified workstations or sign
60% language interpreters for staff.
During 2006, we published a group
50% policy for the employment of people with Disability Liaison Officers
disabilities. This policy is summarised in
40% the panel below. In 2006, we appointed 17 fully trained
Disability Liaison Officers throughout the
30% group. Their role is to provide support and
Employment policy for
advice for employees with disabilities.
20% people with disabilities
Soon after being appointed, one group
10% n We will focus on people’s abilities of Disability Liaison Officers based in the
rather than their disabilities; permanent tsb Administration Office
0%
Under 30 30-50 Over 50
in Dublin completed a walk-through of
n we will make every effort to the full premises, looking at it from the
2005 2006
establish accessible workplaces; point of view of somebody with a mobility
and, impairment. As a result, they identified
By Length of Service
a number of modifications required to
n we will maintain a network make the building more accessible – for
50%
of Disability Liaison Officers example, adjusting internal doors to
throughout the group to provide make them easier to open and bringing
40%
support and advice for people office supplies down to a lower level in
with disabilities. stationery cupboards.
30%
To support the introduction of the new
policy, we ran a programme of disability
20% Focus on abilities
awareness training for over 144 employees
When we say we will focus on people’s in key roles across the organisation for
10%
abilities, in reality that is what we do example recruitment and selection,
for all prospective employees. When training and development, facilities,
0% interviewing candidates for a position in reception and health and safety.
Under 5-10 10-20 Over
5 years Years Years 20 Years the group, we focus on their ability to do
At the end of 2006, we estimate that at
2005 2006 the job and we judge them on that basis.
least 3% of our employees have some
form of disability. This compares with
The number of non-Irish nationals Accessible workplaces
a statutory target of 3% for the Public
employed by the group has increased
All new buildings must, by law, be fully Service under the Disability Act 2005.
from approximately 2.5% at end 2005 to
accessible. In the case of older premises,
approximately 4.0% at the end of 2006.
some modifications may be required and
Non-Irish nationals also represented
there are, of course, grants available to
approximately 10% of all new employees
assist with this. Our policy is to make
recruited in 2005 and 2006.
all reasonable accommodations for
4%
of our employees
are non-Irish nationals18
Recruitment of graduates Equality/diversity audit in 2006 The audit gave us a profile of our 2005
with disabilities recruits and some of the data is shown in
In 2006, we completed an equality/diversity
the panel.
In our 2005 Report, we said that we audit of our recruitment procedures that
intended to recruit six graduates through used 2005 data as its base. It was an
EU-funded project – under the EQUAL Diversity Profile of 2005
our participation in the Willing Able
Mentoring (WAM) programme. This initiative (www.equal-ci.ie/projects/dep. Recruits
project was funded by the EU and was html) – to support competitiveness and
promote equality in the private sector. The Sample data
run in partnership with AHEAD (The
Association for Higher Education Access methodology used was as follows: n 21 nationalities
and Disability). A graduate recruitment n review of recruitment campaigns and n 6% over 45
fair was held in Dublin in February 2006 files; n 10% no religion
with participation by five private and
public organisations. n surveys of joiners (49% response) n 2% gay, lesbian or bisexual
and unsuccessful candidates (11% n 6% with a disability
Candidates were asked to select an response);
organisation and from 56 interested
n three staff focus groups – male/ We recruited under all nine grounds
candidates, seven selected Irish Life &
female/non-Irish national; and, covered by the Equal Status Act
Permanent. By the end of 2006, we had
2000.
taken on two people for work placement. n interviews with managers and
We are open to further applications and employees with disabilities.
we hope that other graduates will apply Action points that arose from the audit
for positions with us. The WAM initiative The data from the survey was self-declared included:
continues in 2007. by the participants.
n ensuring that our job advertisements
meet best practice standards for
equality;
n providing equality compliance training
for employees involved in recruitment;
n examining the use of application forms
rather than CVs; and,
n reviewing the accessibility of interview
locations and supports for people with
disabilities.
At least
Irish Life & Permanent took part in a graduate recruitment fair for people
with disabilities held in the Mansion House, Dublin in February 2006.
3%
of employees have
some form of disabilityCampbell Catering provide restaurant facilities at our offices
in Abbey Street, St. Stephen’s Green and Blackrock, Dublin.
Pictured here are Bernadette Brady and Jimmy Keogh.
19
Women in the workforce training programme delivered by FÁS in a ‘Green with envy’ competition to
2006, the participants will join permanent promote a better working environment
Gender analysis of the workforce tsb in Dublin based branch and head and to identify ways of reducing our
2005 2006 office positions in early 2007. environmental impact.
Male Female Male Female Irish Progressive Services International
Health, safety and well-being
held their health and well-being week in
Clerical 29% 71% 30% 70%
In 2006, we continued our successful March 2006. Activities included a soccer
Specialist 51% 49% 50% 50% series of annual health and well-being tournament and health screening.
Managerial 72% 28% 72% 28% weeks in Irish Life and we also extended
this concept to permanent tsb. New group Health and Safety
Total 41% 59% 42% 58% Statement issued in 2006
In permanent tsb, the health and well-
Our policy is to offer equal opportunities being week ran from May 29 to June 2, As signalled in last year’s report, a new
of advancement to both women and men. with a theme of ‘Get fit for summer and group Safety Statement was issued
Although the representation of women fit for life’. The aim was to promote the following the new laws that came into
in the workforce in Ireland has increased benefits of physical exercise and good force under the Safety, Health and Welfare
in recent years, the proportion of women nutrition by emphasising that just a few at Work Act 2005. This statement is
in managerial roles has not. In Irish Life small changes to eating habits or daily available to all employees on our intranets.
& Permanent, the proportion of women routines can make a significant difference. In line with the requirements of the new
at managerial level (at 28%) is almost the law, its main focus is on identifying hazards
Each staff member was issued with a
same as the proportion of men at clerical and preventing accidents.
pedometer, together with some useful
level (30%). hints on how to take first steps towards Accidents/Incidents 2005 2006
As a major employer, we recognise that a healthier lifestyle, e.g., taking the stairs
instead of the lifts, getting off the bus a Reported to Group Health
we have a responsibility to do what we
stop earlier etc. and Safety Manager 26 32
can to redress this imbalance, although
this must take place within an overall We also commissioned AFRESH, a Employees 18 23
policy of equal opportunity. This is company that has expertise in promoting Third Parties 8 9
an issue that we intend to give more well-being, to deliver workshops in three Notified to Health and
attention to in 2007 and coincides with separate locations – Dublin, Cork and
Safety Authority 4 2
the designation of 2007 by the European Galway. The themes of the workshops
Commission as the ‘European Year of were ‘Shaping-up’, ‘Re-energise through Fatalities None None
Equal Opportunities for All’. As a first step, good nutrition’ and ‘Food labels: what
we will see if comparative data on gender they really mean’. Children at Work Day
balance is available for other organisations
In Irish Life, the fifth annual health Irish Life Investment Managers and Irish
at home and abroad.
and well-being week took place from Progressive Services International held
permanent tsb is currently working with September 25-29, 2006 with a theme a “Children at Work Day” in April 2006.
FÁS on a programme designed to retain of ‘Live well, feel great’. It was a week Eighty children joined their parents at
and regain the experience of women who of varied activities, ranging from a work from 12.30pm onwards. The visit
may be returning to the workplace after get-fit workshop to a session providing included a brief tour of the office and
some time or working outside the home information about food labelling. some suitable entertainment.
for the first time. Following a six month The week was also used to launch
28%
of managers are womenDuring 2006, we completed a total of 14,200
days of training for employees. Pictured here
are trainers Sarah Slattery and Máire Ward.
20
Actions taken following Under the agreed new arrangements, Some of the training programmes
employee surveys all employees will be required to enter a delivered are standard – for example,
PRSA based defined contribution (DC) induction programmes for new
Survey pension scheme at age 25 (or immediately employees. We also designed and
Division Response Rate on taking up employment if 25 or over). delivered tailored staff and management
development programmes to meet various
Irish Life Retail 80% After three years in the scheme, an
business units’ needs. In 2006, these
employee will be offered a once-off
Irish Life Corporate 87% included:
irrevocable opportunity to convert to
permanent tsb 80% a hybrid DB/DC scheme where a DB n mortgage system training for
arrangement covers the first e45,000 of employees in the permanent tsb
During 2006, employee surveys were salary (integrated with State entitlement) Intermediary Mortgage Centre;
conducted in the three major businesses and the PRSA/DC arrangements apply to
n Assistant Branch Manager Development
in the group representing almost 80% of earnings over e45,000.
Programme in permanent tsb;
group employees. In both schemes, the group will also cover
n Irish Life Customer Services Managers’
Following these surveys, key priorities the cost of death-in-service and income
Development Programme; and,
were identified, such as: continuance benefits for the employee.
n Irish Life Intouch team
n revamp of performance system;
Training and development interdependencies programme.
n further investment in training and We are committed to continuous learning
development; and, 2005 2006
and development for employees and to
n improved communications mechanisms. Training expenditure e4.5m e5.2m support this, we provide the following
resources:
Action is being taken on each of these. Training days 11,400* 14,200
n eLearning programmes in I.T., customer
Average per 2.2* 2.7
New pension scheme service, personal and management
employee Days Days
arrangements development;
*as restated
During the year, the group decided to n on-line Management pocket books;
close its defined benefit (DB) pension In 2006, we increased the number of training
n a dedicated learning centre in our
schemes to new staff starting employment days delivered by both our own training team
training headquarters in Dublin –
after December 31, 2006. and external trainers from 11,400 in 2005 to
offering books, journals, videos, DVDs;
14,200. This is accounted for partly by the
Following negotiations with the unions and,
increase in the number of group employees
representing employees, a revised set but also an increased emphasis on the n access to Ashridge Virtual Learning
of pension scheme arrangements have development of staff across the group. Centre in the UK.
been agreed with the various committees
and are currently being voted upon by We also provide a range of resources and
There was a 25% increase in support for those who wish to acquire
employees.
the number of training days professional qualifications. Further details
are available on our group website –
delivered groupwide in 2006 www.irishlifepermanent.ie.
Staff survey
We spent
response rates were
80% €5.2m
on training
or higher
and developmentReducing our impact on the
environment
21
David Brown and Natalie Meehan from Airtricity with Fred White,
We recognise that Engineering and Property Manager – permanent tsb.
we have a role
in protecting our
environment. Our
environmental
policy is to minimise
our impact on the
environment and to
promote awareness
of environmental
issues among staff
and the wider Increasing use of green energy
Irish Government Green
community. We are committed to maximising our Paper
supply of electricity from renewable
resources. In 2006, we added a further ‘Towards a sustainable energy
three premises to those being supplied by future for Ireland’ (Oct 2006)
Airtricity including the offices occupied n Energy efficiency is a major priority
by our Group Treasury function in Dublin. for the EU and Ireland.
Figures for green energy usage are not
n The EU has set targets for
available yet for 2006, but we expect that
renewable electricity (22%) and
they will continue the trend of recent years.
for energy from renewable sources
Green Energy usage: (12%) by 2010.
2003 -19%; 2004 - 21%; n The Irish government has set
2005 - 28%. itself a target of delivering 15%
of electricity generation from
This compares with an EU target of 12%
renewable resources by 2010 and
for 2010.
30% by 2020.
We achieved
28%
energy supply from
renewable sources
(2005 data)3,250km
TURKEY
If all the A4 pages needed to produce our annual reports were used
22 to make a paper chain, it would stretch from Ireland to Turkey.
Energy reduction Improving our work
UN Intergovernmental Panel environment
In 2005 and 2006, we took a number of
actions that reduced our consumption of on Climate Change Report
In 2006, we launched campaigns in
energy. (Feb 2007) the Irish Life and permanent tsb head
Lift modernisation n 10 hottest years since records office buildings to improve the working
In 2005, we upgraded the five lifts in Irish began have occurred since 1994 environment – a “Green with envy”
Life & Permanent’s head office in Abbey competition (Irish Life) and “Clean work
Street, Dublin. This resulted in a 50% n 90% probability that global environment” initiative (permanent tsb).
reduction in the electricity consumed for warming is due to human activity
The objectives of these campaigns were:
operating these lifts between 2004 (the
n Temperatures rose 0.7˚C in the n to improve the look and feel of our
last full year of operation of the original
20th century office environments;
five lifts) and 2006 (the first full year of
operation for the modernised lifts). n to make them cleaner, more
n Best estimate for temperature
comfortable and safer places to work;
Branch refurbishment increases this century are 1.8˚C to
and,
In 2006, we completed six branch 4.0˚C (EU target is 2.0˚C)
n to encourage staff to take ownership
refurbishments. By installing the most
n Projected rise in sea levels 18-59cm for their own environment.
efficient lighting and air conditioning
equipment, we have reduced energy The Irish Life campaign went one step
consumed by 10% per branch resulting in Strengthening our further, requesting staff to suggest ways
a total saving of 45,000kWh per year. to reduce our impact on the environment.
environmental management
Suggestions received included:
Switch-off and save initiative system
Following a PC upgrade project in 2006, n assign responsibility to departments to
A successful environmental management track paper usage and identify ways to
our IT department is piloting a power-save
system depends to a large extent on reduce it;
scheme on laptops and desktop PCs to
the accuracy of the data on which it
encourage energy saving. We will roll this n the last person leaving each
built. During 2006, with the assistance of
out to the rest of the organisation in 2007. department to check that equipment
Vector Environmental Services Limited
and lighting are shut off; and,
Printing (VESL), we set up a new data recording
In 2006, we completed the deployment system. This now gathers data monthly n replace paper cups with mugs.
of high specification print stations across on environmental impacts. We had some The “Green with Envy” competition
our major office centres in Dublin. This difficulties in getting accurate monthly was won by the Corporate Services
reduced the number of network and data retrospectively from the beginning Department in IPSI (Irish Progressive
personal printers by 50%. We estimate of the year from a number of suppliers. Services International).
that this will generate an energy saving of For this reason, we are not releasing 2006
We have just launched a follow-up
30% per year by 2008. Staff surveys show data with this report but we will publish
“Power of One” campaign in Irish Life to
a high level of user satisfaction with the it on our website as soon as we have
develop a structured approach to making
improvements, in particular with quality, completed a review with VESL.
environmental improvements in the
availability, features and speed.
company. We are developing this using
Number of network and
office printers reduced by
50%
(in major Dublin offices)You can also read
