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Australia has recently unveiled its first comprehensive report detailing the gender pay gaps within companies with 100 employees or more. Â
The government-mandated disclosure reveals a 19% median pay gap between men and women for the fiscal year 2022/23. According to a report published by the Guardian, the median annual pay for a woman equates to nearly $18,461 less than the median of what a man is paid.Â
According to Australia’s Workplace Gender Equality Agency, the report stems from legislation passed in March 2023. The official disclosure aims to address the persistent issue of pay inequality and propel Australia’s workforce toward greater equality.Â
A recent report published by Reuters reveals that only one-third of top Australian firms met the ideal pay gap range of -5% to +5%. Notably, Commonwealth Bank, AGL, and Woodside Energy reported significant gender pay disparities of approximately 30% — while supermarket chain Woolworths revealed a more equitable gap at 5.7%. The report also highlights the underrepresentation of women in senior roles, a trend consistent across industries.Â
The Australian government has already announced plans to publish the pay gaps of public companies and agencies next year. These government measures are expected to drive change within major Australian organizations — ensuring fair opportunities for women and a gradual closure of the gender pay gap.Â
For many, the commitment to gender pay equity is not just about equal pay but also about providing women with fair chances to advance and lead within professional fields. As Australia takes steps to shine a light on corporate pay practices, it sets an example for other nations and businesses to follow in creating a more inclusive and balanced workforce.Â
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