Employers who underpay women are to be named and shamed with the introduction of a new Bill to help close the gender pay gap.
Introducing the Workplace Gender Equality Amendment (Closing the Gender Pay Gap) Bill 2023, the Minister for Women, Katy Gallagher said the Bill would see the gender pay gaps of employers with 100 or more workers published – a key reform to drive transparency and action towards closing the gender pay gap.
Senator Gallagher said global experience showed transparency encouraged organisations to take action to close the gender pay gap in their workplaces.
“On average, women working full-time can expect to earn 14.1 per cent less than men per week in their pay packets,” Senator Gallagher said.
“The gender pay gap is also holding our economy back with $51.8 billion a year lost when it comes to women’s pay,” she said.
“On current projections it will take another 26 years to close the gender pay gap.”
Senator Gallagher said the Bill would also reduce red tape for businesses to make reporting easier.
She said reporting would begin in 2024, with companies’ gender pay gaps to be published on the Workplace Gender Equality Agency website.
“Women have waited long enough for the pay gap to close – let’s not wait another quarter of a century,” the Minister said.
She said the reform was recommended by the 2021 Review of the Workplace Gender Equality Act 2012.
