Business welcomes average decline in gender pay gap, but there is much more to be done

27 February 2024

The Business Council of Australia welcomes the average decline in the gender pay gap shown in WGEA reporting today, but there is much more to be done.

The average decline in the gender pay gap reflects the strong collaboration between employers and government in increasing the choices and opportunities available to women in private enterprise, but progress is too slow in certain sectors.

Business Council Chief Executive Bran Black said the business community remains committed to addressing the barriers to female workforce participation and advancement that influence the gender pay gap.

“The pay gap shouldn’t exist, and our members put a huge amount of energy into tackling it.

“A focus in the policy we develop with our members is pulling down the barriers women face when it comes to career advancement in the workforce, because a big part of the problem is that women are not yet getting their share of senior roles.

“We have long called for a more generous paid parental leave scheme coupled with a low cost, world class childcare system that empowers women to build careers.”

The Business Council’s report on the issue, A framework for women’s economic advancement and national prosperity, outlines a series of policies to maximise the talent of women in Australia.

Ingrained cultural and social norms are a key driver producing economic and social inequities. Ongoing skewing of labour market outcomes has an impact on wealth accumulation for women when calculated over a working lifetime.

Differences between male and female pay can in part be attributed to the caring responsibilities and associated career interruptions incumbent on women in the workforce.

Mr Black said work is required to unlock human talent opportunities in male dominated industries and executive levels.

“Gains in the fight to close the gender pay gap have been made but the status quo is just not acceptable, so the work must continue.”


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