Employment Equity and Diversity 

We have made substantial progress in achieving our employment equity targets. The company has made great strides to ensure that we have a staff complement that increasingly reflects the South African demographic. The following table demonstrates our progress:
 

Old Mutual's Employment Equity Management Profile in Detail
Black Executive Management			Black Senior Management			Black Middle Management			Black Junior Management
2002	2003	2004	2002	2003	2004	2002	2003	2004	2002	2003	2004
12%	20%	25%	11%	14%	19%	18%	25%	30%	30%	33%	45%
Women Executives			Women Senior Management			Women Middle Management			Women Junior Management
2002	2003	2004	2002	2003	2004	2002	2003	2004	2002	2003	2004
0%	4%	6%	18%	18%	24%	32%	35%	36%	45%	47%	55%
Black Women Executives			Black Women Senior Management			Black Women Middle Management			Black Women Junior Management
2002	2003	2004	2002	2003	2004	2002	2003	2004	2002	2003	2004
0%	0%	0%	1%	1%	5%	4%	7%	10%	11%	13%	20%
Disabled Executives			Disabled Senior Management			Disabled Middle Management			Disabled Junior Management
2002	2003	2004	2002	2003	2004	2002	2003	2004	2002	2003	2004
0%	0%	0%	0%	0%	0%	1%	1%	1%	0.1%	0.3%	1%

Several challenges remain. Perhaps most pronounced, the challenge for Old Mutual and for the financial services sector is the identification and recruitment of black women executives. In addition, Old Mutual and the entire industry need to encourage the employment of disabled executives and senior women management.

Work remains to be done towards creating a workplace that values diversity, and in so doing ensures that the corporate environment is attractive to talented black recruits. A key factor in creating this environment is the offer of adequate support and targeted development. These actions will increase the number of black staff retained within the organisation.

While diversity has been extensively promoted within Old Mutual in accordance with the requirements of the Employment Equity Act, diversity as a strategy will receive particular attention within the organisation during 2005. We expect our empowerment partners to play a key role in our diversity strategies as a result of their extensive skill and experience in this area.

These challenges aside, the success enjoyed by Old Mutual so far is largely due to a robust employment equity structure. Each business unit in Old Mutual has an Employment Equity Committee whose role it is to ensure that within that business unit there is adequate consultation over the employment equity plan, and to ensure there is no discrimination in the workplace.

All terms and conditions of employment, benefits and other human resources practices are discussed and debated by the Old Mutual Employment Equity Forum. The Forum includes representatives from organised labour.

The dedicated employment equity office ensures that communication is ongoing and responsive: there are employment equity facilitators within each business unit; all the latest statistics are public knowledge and are posted on the organisation's Intranet site; and various poster and publicity campaigns using the various internal channels are undertaken throughout the year.

Our Employment Equity Manager has regular engagements with the Director: Employment Equity, in the provincial Department of Labour offices to communicate on the required standards of best practice wherever we operate and to build sound and positive relationships with the legislature.

The implementation of employment equity in Old Mutual is rigorous. Quarterly progress checks are conducted in addition to annual audits of progress made against targets agreed by executive management. These are in addition to regular executive reports from the Programme Manager: Financial Sector Charter Implementation. Employment equity grievances are managed as part of the grievance procedures, with contraventions treated as disciplinary offences. In addition to an employment equity short-term incentive (STI) scheme (20% of total bonus) that rewards proactive implementation of the programme, all appointments that go against the business unit's business plan have to be agreed by the general management of the business unit. Lastly, managed by the Old Mutual Talent Manager, a process and system exists to ensure a focus on developing and promoting internal talent across race, gender and disability.

For further information on our approach to employment equity and the Old Mutual Business School courses and support available to staff and management, please refer to the Corporate Citizenship Report 2003 (pages 53 to 55), or browse the report online at http://www.oldmutual.com

Key executive appointments in 2004

	Vic Lumby is moving to the United States to take up the key technology position in the group's US operations.
	Ralph Mupita is the new Managing Director of Old Mutual Unit Trusts.
	Replacing Vic Lumby as Head of Old Mutual (SA) Information Technology is Theo Nkone.
	Tim Cumming has moved from OMAM (SA) to take up the position of OMAM Global Vice President, Business Development.
	Bertie van Wyk was appointed Chief Executive Officer of Old Mutual Employee Benefits.
	Khehla Mthembu added the portfolio of Corporate Affairs to his role as Chief Executive of Old Mutual's Gauteng operation.
	Seelan Gobalsamy is responsible for Old Mutual's groundbreaking employee benefits technology infrastructure, Mosaic.
	Bradley Kalil runs Old Mutual's Specialised Finance (OMSFIN) division.
	Stephen Bowey is Chief Communications Officer for Old Mutual.
	Thabo Dloti has moved from Old Mutual Group Schemes to become the new Chief Executive of Old Mutual Asset Managers (SA).