Women forced to work 50 extra days to match men’s earnings: What’s the verdict in pharma, medtech and diagnostics?

People & Culture: A new campaign launched by the Workplace Gender Equality Agency (WGEA) urges employers to confront disparities in their workplaces and take decisive steps to reduce the gender pay gap.

The WGEA announced this year’s Equal Pay Day will fall on August 19th, symbolising the 50 additional days Australian women must work into the new financial year to match the earnings of their male counterparts from the previous year.

The gender pay gaps of nearly 5,000 Australian private sector employers were published for the first time in February. This initiative followed the successful passage of Labor’s reforms in Parliament last year, serving as a catalyst for employers to amplify their commitment to closing the gender pay gap.

WGEA CEO Mary Wooldridge emphasised the entrenched biases and stereotypes that undervalue women’s contributions, driving the persistent 12% national gender pay gap.

“This disparity contradicts Australian values of equality and fairness,” Wooldridge stated.

Under the campaign theme It Doesn’t Add Up, WGEA challenges employers to proactively investigate and understand their workplace dynamics. The initiative will span 50 days, culminating on Equal Pay Day.

WGEA’s research identifies gender discrimination (36%), family responsibilities and workforce participation (33%), and job type and industry segregation (24%) as primary factors contributing to Australia’s gender pay gap.

Deep diving into the gender pay gap data, the WGEA Employer of Choice for Gender Equality (EOCGE) citation holders like AstraZeneca, demonstrate a commendable median total remuneration gender pay gap of -2.9% in favour of women.

Although not current EOCGE citation holders, Merck Healthcare, Sanofi, Viatris, Eli Lilly, Amgen and Roche Diagnostics are also noteworthy for their gender pay gap performance. Merck Healthcare is tracking at -12.1%, Sanofi at -13.5%, Viatris at -6.6%, Eli Lilly at -1.5%, Amgen at 2.2% and Roche Diagnostics at -2.4%, all falling within the target range (-5% and +5%) or leaning favourably towards women.

Turning to private hospitals, both Ramsay Healthcare and Healthscope exhibit praiseworthy median total remuneration gender pay gap of -9.5% and -11.8%, respectively.

Wooldridge stressed the importance of employers conducting gender pay gap analyses to pinpoint inequalities and address gender imbalances, such as underrepresentation of women in leadership roles.

“Employers must look beyond correcting pay differentials to examining systemic barriers,” Wooldridge urged.

Developing and implementing tailored gender equality action plans is crucial, Wooldridge noted, as these plans can enhance recruitment, retention, and corporate reputation.

“Equal Pay Day is a catalyst for change,” Wooldridge concluded. “Every employer has an opportunity to promote fairness and equality in their workplace through proactive measures and concrete action plans.”

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