AMMA webinarGender equality insights

25 June 2020

Federal statutory agency charged with promoting and improving

gender equality in Australian workplaces:

• Established under the Workplace

Gender Equality Act 2012

• Regulator, educator and influencer

• Change of focus from equal opportunity for women to

gender equality.

Workplace Gender Equality Agency

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Workplace Gender Equality Act 2012Gender Equality Indicators

1 Gender composition of the

workforce

2 Gender composition of

governing bodies

3 Equal remuneration between

women and men

4 Flexible working arrangements

and support for caring

5 Employee consultation

6 Sex-based harassment and

discrimination

What does the data

tell us?

Employment Status and Workforce Composition

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Women in leadership

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• Increased representation of women in manager roles to 39.4% (17.7% mining)

• The more senior the role the more women are under-represented

• CEO/Head of business 17.1% (6%) • KMP 31.5% (18.6%)• Other executive 32.2% (16.1%)• Senior Managers 36.0% (19%)• Other Managers 42.6% (17.5%)

Governing bodies

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• Increased proportion of female directors to 26.8% (18.4%)• Increased the proportion of female chairs to 14.1% (9.4%)• Gender composition of boards 29.3% female (20.2%)

Gender Pay Gap

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Flexible working

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• 68% of organisations in the mining industry have a formal policy or strategy in place – up 5.1pp from the previous year.

• Only one in four organisations with a flexible working policy or strategy provide manager training.

• Only one in 20 sets targets for employee engagement in flexible work.

Consultation

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60% of organisations in the mining industry said they consulted with employees compared with 53.1% in all industries

Sex-based harassment

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98% of organisations have a formal policy on the prevention of sex-based harassment and discrimination.

The Covid-19 pandemic

Women dominate the healthcare workforce and therefore are

in the frontlines

The increase in caring responsibilities during the pandemic is

likely to be shouldered by women

Men may take on more care and domestic work

Highlighted the need for and value of flexible working policies

and practices

Increased time in the home due to social distancing and

isolation measures is placing individuals at risk of domestic

violence.

Key points on the impact so far

What difference does it all

make?

10 components for gender equality

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• Build a strong case for change

• Role-model a commitment to diversity

• Redesign roles and work to enable flexible work and normalise uptake

• Actively sponsor rising women

• Set a clear diversity aspiration, backed up by accountability

• Support talent through life transitions

• Infrastructure to support a more inclusive and flexible workplace

• Challenge traditional views of merit in recruitment and evaluation

• Invest in frontline leader capabilities to drive cultural change

• Develop rising women and ensure experience in key roles

Bankwest Curtin Economic Centre Report

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• The fifth report in the series

• For the first time has fond a strong and convincing causal relationship between increasing

the share of women in leadership and improvements in company performance.

• Evident in the increase in women’s representation on boards, when appointing a female

CEO and increasing the share of women in the most senior leadership tiers

Summary of findings

The larger the market value of the organization, the more likely it is to have a woman at the

helm:

• One in eight ASX50 companies in Australia have a female CEO

• Approximately one third of board members on ASX50 organisations are women

• Just under 30% of top tier managers in ASX50 companies are women.

This compares with ASX200 companies where:

• One in eleven have a female CEO

Summary of findings

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• More women in leadership drives better company financial performance for Australian ASX

listed companies as follows:

• An increase of 10 percentage points or more in female representation on the boards leads

to a 4.9% increase in company market value.

• This translates to approximately $78.5 million for the average company.

• Increasing the share of female KMPs by 10 percentage points or more leads to a 6.6%

increase in the market value.

• This translates to the equivalent of approximately $104.7 million

• The appointment of a female CEO leads to a 5.0% increase in the market value.

• This translates to the equivalent of approximately $79.6 million

Summary of findings

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Reducing the number of women in top management tiers reduces company financial

performance.

• Companies that reduced the share of women in top management tiers over time were more

likely to underperform relative to their peers compared with companies that either

increased or saw no change to the representation of women.

• Companies that reduced the share of women as key managers by 10 percentage ponts or

more faced a reduction in market value of 2.9% or $46 million on average.

The EOCGE citation

Employer of Choice for Gender Equality

• Is a leading practice recognition program

• Drives improved gender equality outcomes

• Measurable, sustainable, accountable

• Beyond compliance

• Requirements increased each year

• Provides a roadmap for success

• Focus is on increased visibility and accountability

• Applications submitted 1 June to 30 September

• List announced in February

1. Leadership, strategy and accountability

2. Developing a gender balanced workforce

3. Gender pay equity

4. Support for caring

5. Mainstreaming flexible working

6. Prevent gender-based harassment and discrimination, sexual harassment

and bullying

7. Driving change beyond your workplace.

Seven focus areas

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What the EOCGE does for organisations

• Drives strategy

• Provides a clear point of differentiation

• Demonstrates commitment

• Provides impetus for excellence

• Tracks performance

• Robust measurement and assessment

• The right thing to do

The Business Case

Workplace gender equality is associated with

• Improved national productivity and economic

growth

• Future proofing the Australian economy

• Enhanced ability of companies to attract talent

and retain employees

• Enhanced organisational reputation

• Increased organisational performance

Thank you

Workplace Gender Equality Agency

wgea@wgea.gov.au

Workplace Gender

Equality Agency@WGEAgency@WGEAgency