Australia is often regarded around the world as a leader when it comes to women's affairs. As well as more women being employed in senior management roles, the concept of flexible working is supporting this demographic stay in employment for longer.
However, there are still clear wage inequality issues with the Workplace Gender Equality Agency (WGEA) stating earlier this year that the pay gap currently stands at 17.9 per cent. This means that women, on average, have to work an additional 65 days per year to make the same as their male counterparts.
Improving pay inequality
More business leaders are undertaking investigations to identify and manage pay imbalances within their teams.
Despite these poor statistics, some chief executive officers and general managers are taking this issue seriously. Based on WGEA's 2015 report card, more business leaders are undertaking investigations to identify and manage pay imbalances within their teams.
In the 2014-15 financial year, there was a 17.6 per cent increase in the number of organisations that completed a gender pay gap analysis. Furthermore, more than half (51 per cent) took action as a result of their findings.
The WGEA reported that the most common action was simply identifying the reasons for the pay gap (27.7 per cent). This process was followed by reviewing the reasons for each individual's pay level (20.5 per cent) and reporting pay metrics to senior management (19.4 per cent).
Acting Director Louise McSorley explained that the pay gap will only get worse if businesses don't make changes.
"While it's pleasing to see a growing number of employers acting on the findings of their pay gap analysis, it's disappointing to see around a quarter sit on their hands after reviewing their payroll data," she said.
"Reviewing the least popular actions highlights how organisations can lead to tackle the root causes of pay inequity and firmly place it as an important strategic and governance issue."
Wage gap between trades
It is important to remember that the wage gap isn't just the problem of executive-based positions. In fact, according to the The Glass Ceiling Index, the worst occupations for equal pay are electrical distribution and trades workers.
In this unique index, the thickness of the glass illustrates how much inequality women have to break through to earn the same wage as their male counterparts. While the Australian average is 3.3 inches, electrical distribution and trades workers must smash through a massive 8.9 inches.
Design & Construct takes the concept of wage equality very seriously and will ensure that any female candidates are paid based on their skill set, experience and qualifications levels.
For more information, contact our expert team today.