Why there's no better time to close the gap on gender...

Off the back of the Government’s September?Jobs and Skills Summit?– we’re seeing legislators make a commitment to mandating real change to address gender equity in Australia.?

With women’s participation and progression in the workforce now recognised as an economic imperative – not just a social responsibility – we’re looking forward to the instrumental role that businesses and legislators are set to play in creating a more equitable and inclusive future. A future that we can all look forward to – together.

Why women’s workforce participation matters

Women’s workforce participation, a key focus of the summit, is projected to alleviate current workforce and skill shortages, boost productivity, and improve economic performance – making it top of Australia’s economic agenda.?

As Sam Mostyn , Chair of the Government’s Women’s Economic Equality Taskforce, told the ABC,?“…women and women’s workforce participation is now accepted as a key economic driver for this country – rather than a separate issue to our economic debates…”

Mandated change on gender is coming

The Australian Government has committed to legislating change – with a proposed overhaul of the Fair Work Act – introducing measures aimed at improving women’s participation and progression in the workforce – including:?

• Same job, same pay:?equal renumeration
• Mandated pay-gap transparency:?Businesses with more than 100 employees required to publicly report their gender pay gaps
• Mandated progress on gender equality:?Employers with more than 500 employees required to commit to measurable targets to improve gender equality in their workplaces
• Pay secrecy clauses prohibition:?Giving employees the right to disclose their remuneration, and ensuring employers cannot hide gender pay gaps behind contractual clauses prohibiting transparency

While Australia already has one of the most comprehensive databases on pay and workforce representation in the world – with private sector organisations with over 100 employees required to report on gender equality indicators since 2012 – individual organisations have not had to be transparent on their gender pay gaps. That is – until now.

With organisations required to publish their gender pay gaps when legislation passes, growing shareholder expectations for businesses to have a clear ESG strategy (with diversity, equity and inclusion high on the agenda), and an increasingly socially conscious workforce looking to align with good businesses that are doing good – pressure is mounting on businesses to take real action to close the gap.?

The time is now.?So get on the front foot. Don’t just see the change. Be a leader in the change we all want to see. With new legislation fast approaching – it’s time to get moving on closing your gender gap – for good.?

How can equidi help?

equidi is a world-first platform that’s leveling up the ledger on gender – one business at a time. equidi provides real-time visibility over pay-gap and workforce representation, across every part of your business – on a single dashboard. With AI-generated recommendations, and useful tools and resources – you can set goals, track progress, and lift your performance – every day. equidi is also set to make meeting your regulatory requirements simple – with gender reporting outputs available at the click of a button.

How can I find out more?

Check us out at equidi.com to?request a demo.?We’d love to hear from you.

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