Employers will pay the price if unprepared to explain their gender pay gap
The gender pay gap publication date is looming. Market Expertise CMO Jacqueline Burns argues employers that are not on the front foot risk damaging their employer brand, could face an exodus of talent, and will be called into question by their stakeholders.
Under the Workplace Gender Equality Amendment (Closing the Gender Pay Gap) Act 2023, employers with 100 or more staff must submit workforce composition, annual base salary, total remuneration, and other related data each year.
On 27 February 2024, the Workplace Gender Equality Agency (WGEA) will publish the first set of private sector employer gender pay gaps – median gender pay gaps and gender composition by pay quartile. The data will cover the period 1 April 2022 to 31 March 2023.
