The Federal Government has introduced a bill to Parliament that will see gender pay gaps published by WGEA (Workplace Gender Equality) from 2024.
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.”
Ms Gallagher says that women have waited long enough. Reporting will commence in 2024, drawing on data already provided by employers with a workforce of more than 100 people.
Currently, gender pay gaps published by WGEA report at an industry level. If passed, this new bill will report gender pay gaps at thousands of Australian businesses. Businesses will also be required to provide their WGEA gender equality reports to their governing bodies.
Agency Director Mary Wooldridge said these reforms are a significant step forward for gender equality and ensuring workplaces are fair and equal for all Australians.
“It’s more than 10 years since the Workplace Gender Equality Act was first passed. In that time we’ve seen meaningful progress, but the rate of change is slow. These amendments will boost transparency, accountability and spur action to accelerate progress on gender equality in workplaces,” Ms Wooldridge said.
The action by the Albanese government is in response to WGEA’s recommendations published in 2021.The Minister for Women and the Government have committed to implementing all ten recommendations from the 2021 Review of the Workplace Gender Equality Act 2012.
The Workplace Gender Equality Amendment (Closing the Gender Pay Gap) Bill 2023 delivers on Prime Minister Albanese's election promise and is in response to the 2021 Review of the Workplace Gender Equality Act 2012 by WGEA.