Australia's gender pay gap is a persistent issue, and despite some progress, major employers are still lagging behind. The fight for equality in the workplace is far from over, and the numbers don't lie.
A recent report by the Workplace Gender Equality Agency (WGEA) has revealed that while there is a slight improvement in the overall gender pay gap, many Australian brands are failing to make significant changes. The report covers an impressive 10,500 employers, representing 5.9 million workers, and the findings are eye-opening.
Half of these employers still have a gender pay gap favoring men, with the gap being larger than 11.2% for most. While this is a slight decrease from last year's 12.1%, it's still a long way from the desired target of 5%.
But here's where it gets controversial... Some companies have even seen their gender pay gaps widen. Take Qantas, for example. Despite women making up 44% of their workforce, they hold only one in seven high-salary roles, with an average pay packet of $343,000. In contrast, women dominate the low-salary positions, earning an average of $79,000. This has resulted in a gender pay gap of 41.7%, a 0.5% increase from last year.
At a national level, the disparity is clear. Men are 1.8 times more likely to earn a high salary in the top quartile, averaging $221,000. Women, on the other hand, are 1.4 times more likely to be low-income earners, with an average salary of $60,000.
And this is the part most people miss... The report highlights that industries dominated by men often have the largest gender pay gaps. Take BHP, a mining and resources company, for instance. While their employees earn an impressive average salary of $201,000, almost double the national average, only a quarter of their top earners are women. Women make up two-thirds of their lowest-paid workers, and their gender pay gap has widened to 12.8% in the past year.
The financial sector, known for its reliance on bonuses and commissions, has also seen incremental improvements, but the gaps persist. Commonwealth Bank, with an average annual remuneration of $167,000, has narrowed its gap by 1%, but it still stands at 21.3%. Large differences in discretionary payments are a key driver of these gaps.
So, what's the solution? WGEA CEO Mary Wooldridge suggests treating gender equality as a business goal. She encourages employers to analyze the issues, create action plans, and set targets to ensure progress. Some companies are taking steps in the right direction. Healius Ltd, a pathology provider, has reduced its gender pay gap by a remarkable 13.3% in a year, now at 27.6%.
But the question remains: Will these efforts be enough to bridge the gap? Share your thoughts in the comments. Are you surprised by these findings? Do you think enough is being done to address the gender pay gap in Australia?
