Australia Breaks Ground with First-Ever Publication of Employer Gender Pay Gaps
Historic Transparency Initiative:
The Albanese Government of Australia unveils gender pay gaps for nearly 5,000 private sector employers.
The move is a result of Labor's reforms that passed the Parliament last year, focusing on accelerating progress to close the gender pay gap.
Economic Impact of Gender Pay Gap:
Minister for Women, Senator Katy Gallagher, highlights the gender pay gap's annual cost to the Australian economy at $51.8 billion.
Transparent disclosure aims to drive meaningful action by providing evidence to individuals and organizations.
Publication by Workplace Gender Equality Agency (WGEA):
WGEA publishes base salary and total remuneration median gender pay gaps for private sector employers with 100 or more employees.
Results show 30% of employers have a median gender pay gap within the target range of -5% to +5%, indicating balanced representation.
Industry Variation in Gender Pay Gap:
Significant differences observed across industries, ranging from a 31.8% median gender pay gap in the Construction Industry to 1.9% in Accommodation and Food Services.
CEO of WGEA, Mary Wooldridge, emphasizes the publication as a catalyst for action, urging employers with higher gaps to initiate change.
Call for Employer Accountability and Change
WGEA CEO encourages employers to aim for a gender pay gap within +/-5%, indicating a focus on identifying and addressing inequalities.
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