Australia to expose companies' gender pay gaps

Canberra: The Australian government will publish the gender pay gaps at large companies in a bid to improve income equality, a Minister revealed on Saturday.

From February 27, the pay discrepancies between male and female employees at every company with over 100 employees in Australia will be made available online under legislation aiming to improve pay transparency and female participation in the workforce, reports Xinhua news agency.

Katy Gallagher, the Minister for Women and Minister for Finance, told the Australian Associated Press (AAP) that the move would hold companies accountable.

According to data published by the government's Workplace Gender Equality Agency (WGEA) in November last year, the gender pay gap was 21.7 per cent in 2023 -- down from 22.8 per cent in 2022.

It means that, on average, women earned A$26,393 ($17,720) less than their male colleagues in 2023.

Gallagher told the Australian Associated Press (AAP) that by publishing the data for every company the government hoped to drive action to reduce the gap.

"Publishing gender pay gaps is an important step in raising awareness, and holding organizations to account where there is a gender pay gap across their organisation - and that's a big change," she said.

"I think for those that have a significant gender pay gap, they're going to have to change the way they do things."

The WGEA found that three-quarters of Australian employers had gender pay gaps in 2023 larger than 5 per cent in favor of male employees.

Women made up 42 per cent of all manager positions, the WGEA said, up from 41 per cent in 2022.