The gender pay gap is the is the difference between women's and men's average weekly full-time wage. In Australia, women make up half of the workforce but earn only 77 per cent of men’s average full-time income, says the Workplace Gender Equality Agency.
AIM’s Gender Pay Gap report found female managers are still paid 10 per cent less than male managers doing the same job.
Closing the pay gap is an ongoing challenge but some companies are getting there.
In 2013, Australian life insurance specialist TAL found its women employees earned only 82 per cent of what it paid male staff, so it charged its senior leadership team with closing the pay gap. All hiring managers and senior leaders undertook unconscious bias training, salary bands were created for all roles and a pay analysis was introduced prior to annual performance and salary reviews to identify and report any imbalances.
Today, TAL’s gender pay divide sits within a tolerance level of only 1 per cent.
How many people did it take to close the gap?
8 people from the TAL executive team who were responsible for leadership and accountable for results.
10 people from TAL’s People & Culture team, including remuneration specialists, a diversity specialist and talent acquisition specialists.
6 people from TAL’s Diversity & Inclusion Council, who championed and supported the change throughout the business.
1600 people across the entire organisation, as closing the gender pay gap requires the efforts of all TAL employees.