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EOWA Business Case for Pay Equity
An organisation’s most valuable asset is its people. This is particularly true in the Australian economy where services and knowledge-driven industries are key areas of growth. If people are providing a competitive edge it is crucial that an organisation is able to recruit the right person for the job at the outset. Given the pressures on labour market supply, this is becoming increasingly critical for improving company performance. To attract and retain the best and brightest, organisations need to ensure that all employment-related decisions, such as recruitment and pay, are fair and equitable from the start and not based on, amongst other things, gender. The Australian workforce is becoming increasingly diverse. The largest and fastest growing component of that diversity is gender. Women now make up 45 per cent of the workforce. It is generally thought that the pay gap between women and men becomes an issue when employees start to climb the career ladder. However, studies have shown that female graduates coming out of university with the same qualifications are paid on average less than their male counterparts in the same role. Organisations which do not offer equity and transparency at recruitment with pay and other benefits of service are not going to attract the widest talent pool. Becoming an EOWA Employer of Choice for Women requires organisations to have done an analysis of their payroll to establish if there are any inequities and to have addressed or be addressing any that exist. |
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