Invitrocue - Transforming bioanalytics

DIVERSITY POLICY

Invitrocue Limited
Corporate Governance Policies

DIVERSITY POLICY

  1. Introduction

Invitrocue Limited (Company) is committed to workplace diversity. The Company recognises the benefits arising from employee and board diversity, including a broader pool of high quality employees, improving employee retention, accessing different perspectives and ideas and benefiting from all available talent.
Diversity includes, but is not limited to, gender, age, ethnicity and cultural background.

  1. Objectives

The Diversity Policy provides a framework for the Company to achieve:

  • diverse and skilled workforce, leading to continuous improvement in service delivery and achievement of corporate goals;
  • workplace culture characterised by inclusive practices and behaviours for the benefit of all staff;
  • improved employment and career development opportunities for women;
  • work environment that values and utilises the contributions of employees with diverse backgrounds, experiences and perspectives through improved awareness of the benefits of workforce diversity and successful management of diversity; and
  • awareness in all staff of their rights and responsibilities with regards to fairness, equity and respect for all aspects of diversity,

collectively, the (Objectives).

  1. Responsibilities – The Board’s Commitment

The Company’s Board is committed to workplace diversity, with a particular focus on supporting the representation of women at the senior level of the Company and on the Company’s Board.
The Board may set measurable objectives and strategies to meet the Objectives of the Diversity Policy, including developing measurable objectives and strategies for achieving gender diversity (Measurable Objectives), and is responsible for monitoring the progress of the Objectives and Measurable Objectives (if so set) through the monitoring, evaluation and reporting mechanisms listed below.
The Board considers that due to the size of the Company, setting Measurable Objectives is not appropriate with its practice currently to hire the most appropriate candidate for the position having regard to the activities to be undertaken in the role.
The Board will conduct all Board appointment processes in a manner that promotes gender diversity, including establishing a structured approach for identifying a pool of candidates, using external experts where necessary.

  1. Strategies

The Company’s diversity strategies include:

  • recruiting from a diverse pool of candidates for all positions, including senior management and the Board;
  • reviewing succession plans to ensure an appropriate focus on diversity;
  • identifying specific factors to take account of in recruitment and selection processes to encourage diversity;
  • developing programs to develop a broader pool of skilled and experienced senior management and board candidates, including, workplace development programs, mentoring programs and targeted training and development;
  • developing a culture which takes account of domestic responsibilities of employees; and
  • any other strategies the Board develops from time to time.
  1. Monitoring and Evaluation

The Board will monitor the scope and currency of this policy.
The Board is responsible for implementing, monitoring and reporting on the Measurable Objectives (if so set) as established by the Board.
Measurable Objectives (if so set) as set by the Board may be included in the annual key performance indicators for the Managing Director/Chief Executive Officer and senior executives.
In addition, the Board will review progress against the Objectives as a key performance indicator in its annual performance assessment.

  1. Reporting

The Managing Director will regularly report to the Board on progress against any Measurable Objectives (if so set) set by the board.
The Managing Director will report annually to the Board on the achievement of the Objectives.
The Annual Report of the Company each year will set out:

  • Measurable Objectives (if so set);
  • progress against the Measurable Objectives (if so set); and
  • the proportion of female employees in the whole organisation, at senior management level and at Board level.