Last week, Treasury Wine Estates announced industry-leading parental support benefits for its employees in Australia, designed to champion gender equality and inclusion.
The policy provides men and women with equal access to paid primary carer’s leave and up to 12 months’ superannuation contributions, even during the unpaid portion of parental leave. Under the policy, secondary carer’s will also receive six weeks’ paid leave.
Beyond financial
support, TWE will also offer access to training, resources and continued
connection with the workplace to address the disadvantages often faced by those
who take extended leave from work.
“We are incredibly
proud to be launching what we believe is the leading parental support offering
in the wine industry," said Katie Hodgson, Chief People Officer at
Treasury Wine Estates.
While the changes
are designed to engage and retain women and increase gender diversity in leadership
roles, the gender-neutral policies will benefit everybody.
“This is such an
important change because it predominately affects our employees mid-career
which has positive flow-on impacts for women moving into leadership positions,
while also benefiting men as we recognise the importance of shared parenting
responsibilities as critical in closing the gender gap,” Katie said.
“We’ve set a bold
target of achieving 50% women representation in leadership positions by 2025
and these changes form part of a range of investments we’re making to achieve
this goal,” said Katie.
While 41% of leadership positions at TWE are currently held by women, when it comes to the industry more broadly, women in the wine sector still make up well below 50 per cent of the workforce. This number reduces even further when looking at leadership and senior roles in the industry, with female representation estimated at 8–10 per cent, meaning there is still a long way to go for the sector to reflect the broader population.1
In
Australia, women typically retire with around half as much superannuation as
men, with time out of the workforce to care for children cited as one of the
biggest contributing factors.
Paid
superannuation during parental leave creates an opportunity for women to boost
their retirement savings and help narrow the superannuation gender gap.
“At TWE we encourage people to bring their whole selves to work, and as part of that we’re moving to create a work environment and policy framework that support all elements of our employees’ lives,” Katie said.
1WineAustralia Stateof the
Sector Report, 2018