WGEA data shows that only four in ten employers bother to analyse pay gaps
Unfortunately, very few employers understand the issue or the causes of the gender pay gap, according to Libby Lyons, Director of the Workplace Gender Equality Agency (WGEA).
"WGEA data shows that only four in ten employers bother to analyse pay gaps,” she said.
Lyons comments come as the leaders from MinterEllison and the Workplace Gender Equality Agency (WGEA) recently joined forces to hold a roundtable at the international law firm's Sydney office to spread the word and drive change on the gender pay gap.
MinterEllison Partners from across all Australian offices attended the roundtable, which was co-hosted by Lyons and Annette Kimmitt, MinterEllison's Chief Executive Officer and Managing Partner.
The discussion focused on best practice programs and initiatives relevant to professional services firms and corporate Australia more generally.
Lyons added that it is fantastic to present to a workplace which is making gender pay equity an absolute priority.
"Monitoring gender data closely, at least annually, helps workplaces to create environments in which all members of the organisation are supported to reach their full potential," said Lyons.
"Leading employers understand that failing to address the gender pay gap is both wrong and bad for business, so they actively and regularly analyse their data and take steps to correct imbalances."
Kimmitt, a WGEA Pay Equity Ambassador, added that they are receiving requests from clients at an increasing rate for gender equality information in tenders, panel submissions and speaking engagements.
"All workplaces should be equipped with strategies and meaningful initiatives to address these key business issues,” said Kimmitt.
“The only way an employer can know if there are pay inequalities is if they keep a close eye on the full range of gender equality data for the organisation.
"Not only does gender equality data help employers access a greater talent pool, reduce turnover, and enhance morale, but it is also what clients' are looking for… they are looking to see and understand steps professional services firms are taking to correct gender imbalances.”
Indeed, MinterEllison has a Gender Equality strategy in place with an aim to increase women’s representation at all leadership levels.
"As part of our strategy, we have gender targets in place for female Partners and Board members and are actively reviewing our targets aligned to our emerging 2025 strategy," said Kimmitt.
MinterEllison has been recognised as a WGEA Employer of Choice for Gender Equality for the past 10 years in Australia.