ACLW welcomes the Workplace Gender Equality Amendment (Closing the Gender Pay Gap) Bill 2023 being passed by Federal Parliament today.
Thanks to the Albanese government and especially to Senator Katy Gallagher, Minister for Women for this significant reform.
Employers can no longer keep gender pay gaps confidential. From early 2024 gender pay gaps of employers with 100 or more employees will be published.
Transparency is essential for employer accountability & workplace gender equality.
Equal pay, treatment, access and representation in workplaces will achieve gender equality in workplaces.
The gender pay gap is the difference between average male and female pay within individual organisations and across Australia as a whole, this is normally expressed as a percentage. In 2023 the gender pay gap in Australia is 13.3%.
Minister for Women, Senator the Hon Katy Gallagher, said global experience shows transparency encourages organisations to take action to close the gender pay gap in their workplace.
“On average, women working full-time can expect to earn 14.1% less than men per week in their pay packets,” Minister Gallagher said.
“The gender pay gap is also holding our economy back with $51.8 billion a year lost when it comes to women’s pay.
On current projections it will take another 26 years to close the gender pay gap.”
“Women have waited long enough for the pay gap to close – let’s not wait another quarter of a century.”
“The bill will also reduce red tape for businesses making it easier to report.”
Reporting will commence in 2024, drawing on data already provided by employers.
Companies’ gender pay gaps will be published on the Workplace Gender Equality Agency website.
This reform was recommended by the 2021 Review of the Workplace Gender Equality Act 2012.
ACLW’s submission was among 155 submissions to the 2021 Review.
ACLW’s submission to the 2021 Review can be viewed here. The Executive Summary of the Review is at https://www.pmc.gov.au/publications/wgea-review-report/executive-summary