The WGEA Gender Equity Insights report series analyses gender pay gaps in Australia, including the relationships between gender balance around the board table and workforce pay equity. This third report offers some encouragement that Australian businesses are taking the issue of gender pay equity seriously, with far more seeking to measure pay differences and review remuneration policies and processes in their organisations. It shows that gender pay gaps have narrowed over the last year, particularly for managers and for discretionary pay. Some industries are leading the way in driving down gender pay gaps in their organisations, but others continue to lag behind.
So what can companies do to shift the dial towards greater gender equity in the workplace? This third report provides some actions companies can take to narrow the gender pay gaps that persist in their organisations.
The analysis draws clear links between employer action on pay equity and lower pay gaps, demonstrating the need for organisational leadership accountability on closing pay gaps. Organisational gender pay gaps do not close themselves. They must be quantified, understood, acted upon, monitored and taken responsibility for at the most senior levels of our workplaces.