BPW Australia | Equal pay for work of equal value
The 17.2% pay gap between men and women workers coststhe Australian economy over $93 billion each year.
Closing the gap between men's and women's workforce participation would boost Australia's GDP by 11%. Median remuneration of women in line positions is 89% of men’s in line positions. For support positions, women’s remuneration is 63% of the median for men. Some women in CEO and finance positions earn less than half of their male equivalents.
Companies lose talented female staff due to unfair remuneration practices – and this costs business thousands every time.
Pay affects motivation and relationships at work; satisfied staff equals higher productivity.Gender equality in the workplace can reduce staff turnover and absence as well as your risk of employee litigation under discrimination legislation.
Australians want the gender pay gap to be addressed; 80% of the general community and 96% of the business community believethat action must be taken to close the gap.
Leading businesses know gender pay equity is an attraction and retention tool – and a competitive advantage. Improving gender pay equity can also improve consistency,transparency and effectiveness of people management.What can your business do?
Sign up to the Equal Pay Alliance and join over 150 Australians who want pay equity. The Alliance comprises industry groups, businesses, government agencies, universities and NGOs working collaboratively to raise the awareness of the need for equal pay in Australia and to highlight the reasons for gender inequity.
Start shrinking the gap today.
Director of Policy