16/11/2023
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Submission Group: Newcastle Greater Mutual Group litd 22-23 Primary Industry: 6222 - Building Society Operation Program: 2022 - 23 Gender Equality Reporting Number of Employees: 1,826 |
WGEA Reporting Executive Summary
About this report
- This Executive Summary sets out the key results of your submission to the Workplace Gender Equality Agency’s (WGEA) annual Gender Equality Census, as required under the Workplace Gender Equality Act 2012 (the Act).
- Your Submission Group is determined by your management and may include a number of entities in your corporate structure.
- The Executive Summary is based on your responses to mandatory questions only. For consistency, your responses to voluntary questions are not included.
- WGEA has included a glossary of key terms used in this report on the final page of this document.
WGEA’s new obligation to publish employer gender pay gaps
Under Section 15A of the Workplace Gender Equality Amendment (Closing the Gender Pay Gap) Act 2023:
- WGEA “must publish aggregate information, for each relevant employer for each reporting period, for the purpose of showing the employer’s performance and progress in achieving gender equality in relation to remuneration for the employer’s workforce.”
- Therefore, in early 2024 WGEA will publish your median gender pay gap, for base salary and total remuneration, as well as gender composition by pay quartiles and associated average total remuneration, as set out in this Executive Summary.
- This information will be published on www.wgea.gov.au.
- You can provide a document of your choice, such as a gender equality strategy or relevant statement, that helps explain your gender pay gap and what you are doing to drive gender equality. WGEA will publish a link to this document alongside your gender pay gap information.
Your new obligations
Under the Workplace Gender Equality Amendment (Closing the Gender Pay Gap) Act 2023 and associated Legislative Instruments:
- You are required to share this Executive Summary, along with your Industry Benchmark Report (available once all employers’ data has been analysed), with your governing body, e.g., your board.
- Employers with 500 or more employees must have a policy or strategy which covers each of the six Gender Equality Indicators from April 2024.
How to use this report
The data set out in this Executive Summary will enable you to:
- identify priority areas for action, for example, as part of your Gender Equality Strategy,
- monitor your workplace gender equality performance, including over recent years.
Gender Pay Gap
What is the gender pay gap?
The gender pay gap is the difference in average earnings between women and men in the workforce.
It is not to be confused with women and men being paid the same for the same, or comparable, job. This is equal pay and has been a legal requirement since 1969.
The gender pay gap is a useful proxy for measuring and tracking gender equality across a nation, industry or within an organisation. Closing the gender pay gap is important for Australia’s economic future and reflects our aspiration to be an equal and fair society for all.
Why is there a gender pay gap?
The gender pay gap is the consequence of a range of societal, industrial and organisational factors that combine to reduce a person’s earning capacity. It begins at the point of recruitment and often becomes entrenched as people move through their careers.
Gender-based discrimination and bias in the workforce can be direct or indirect. Direct examples include sexual harassment and unequal pay. Often it is the indirect forms of discrimination that limit earning ability – particularly for women - including biases in progression and promotion opportunities.
What can employers do to close the gender pay gap?
From 2024, the gender pay gap and gender composition by pay quartiles for organisations with 100 or more employees are going to be on the public record¹.
Employers should be aiming to create a gender equal environment for all their employees. The timeline for closing the gender pay gap will be different for every employer, depending on internal and external factors.
The measure of success is whether an employer demonstrates authenticity, commitment and improvement.
The first step in improving your gender pay gap is to conduct your own pay gap analysis and understand the size of the gender pay gap and its causes.
Get future ready. Be proactive about what your organisation is doing to create equal opportunities for all employees and authorise and enable a work environment that prioritises gender quality as a core part of your business strategy and operations.
Your Gender Pay Gap
Your average total remuneration gender pay gap is 32.5% and the median is 34.5%.
A positive percentage indicates men are paid more on average than women in your organisation. A negative percentage indicates women are paid more on average than men.
Your gender pay gap over time
| All employees | 2020-21 | 2021-22 | 2022-23 |
| Average (mean) total remuneration |
36.2% |
29.4% |
32.5% |
| Median total remuneration | 34.7% | 33.0% | 34.5% |
| Average (mean) base salary | 34.9% | 28.5% | 31.3% |
| Median base salary | 33.7% | 31.5% | 32.9% |
Note: Italicised numbers represent the GPGs that will be published in early 2024.
Part-time/casuals/part-year employees are annualised to full-time equivalent.
The 2022-23 gender pay gap calculation does not include voluntary salary data submitted for CEO, Head of Business(es), Overseas managers and casual managers. It also excludes employees who did not receive any payment during the reporting period.
Employees identified as non-binary are not included while the Agency establishes the baseline level for this new information
Gender composition by pay quartie
The chart below divides the total remuneration full-time equivalent pay of all employees into four equal quartiles. A disproportionate concentration of men in the upper quartiles and/or of women in the lower quartiles can drive a positive gender pay gap
Note:
- Part-time/casuals/part-year employees are annualised to full-time equivalent for average total remuneration and does not
include voluntary salary data submitted for CEO, Head of Business(es), Overseas managers and casual managers. - The average total remuneration is rounded to the nearest $1,000.
Gender Equality Indicators
WGEA collects data on six Gender Equality Indicators (GEIs) to support employers to assess and drive gender equality in their workplaces. The GEIs represent the key areas where workplace gender inequality persists and where progress towards gender equality can be achieved through focussed action.
Your policy/strategy
| You have a formal policy or strategy that support gender equality overall. | YES |
GEI1 – Workforce Composition
WGEA's research with Bankwest Curtain Economic Centre (BCEC) has shown that greater gender diversity in leadership delivers better company performance, productivity and profitability. Further, increasing the representation of women in executive leadership roles is associated with declining organisational gender pay gaps.
Your workforce composition by role
A concentration of one gender in lower-paid roles and the other in more senior and highly-paid roles can increase your gender pay gap; so, too can a gender imbalance in management.
| Key Management Personnel (KMPs) | Managers | Non-Management | ||||
| Women | Men | Women | Men | Women | Men | |
| 2020-21 | 10% | 90% | 55% | 45% | 76% | 24% |
| 2021-22 | 33% | 67% | 58% | 42% | 73% | 27% |
| 2022-23 | 18% | 82% | 54% | 46% | 74% | 26% |
Your workforce composition by employment status
Part-time and casual roles are often lower paid. An imbalance in the composition of employees in these roles can be a driver of the gender pay gap.
| Full-time | Part-time | Casual | |
| Female | 60% | 97% | 76% |
| Male | 40% | 3% | 24% |
Employee movement: manager and non-manager appointments (including promotion) by gender
Gender biases are often present at each stage of the employment life cycle. Women are also more likely to work part-time, and there are fewer management and leadership roles available on a part-time or flexible basis.
Tracking men’s and women’s career progression can identify points where pay gaps emerge and informaction.
| Female | Male | |||
| Number | Percent | Number | Percent | |
| Appointments to manager roles (incl promotions) | 74 | 58% | 54 | 42% |
| Appointments to non-manager roles (incl promotions) | 527 | 72% | 209 | 28% |
Some organisations set recruitment, appointment and promotions targets to address gender imbalance in workforce composition or set targets for women in leadership.
GEI2 – Gender composition of the governing body(ies)
According to WGEA and BCEC’s 2020 Gender Equity Insights Report, a more balanced gender composition of a governing body has been shown to have positive effects on workplace gender equality outcomes and improved company performance. Women holding 20% or more board seats is shown to be more effective in achieving this benefit.
Gender composition of your governing body(ies)
Note: If you have more than one governing body in your submission group, this chart represents aggregate composition of all your unique governing bodies.
Some organisations set targets to increase representation of women on their governing body.
GEI3 – Equal remuneration between women and men
Organisations that analyse the drivers of their gender pay gap, monitor their gaps and take action to address them are more successful in reducing their gender pay gaps.
Your policy/strategy
| You have a policy or strategy for equal remuneration between women and men | YES |
Action taken
| You have analysed your payroll to determine if there are any remuneration gaps between women and men (e.g., conducted a by-level or gender pay gap analysis) | YES |
| If yes, when was the most recent gender remuneration gap analysis done? | Other period |
| Was any action taken as a result of your analysis? | NO |
Guidance on conducting a pay gap analysis is available on WGEA’s website - www.wgea.gov.au.
GEI4 – Availability and utility of employment terms, conditions and practices relating to flexible working arrangements for employees and to working arrangements supporting employees with family or caring responsibilities.
When employee benefits are accessible and utilised equitably by men and women, it leads to a more gender-equal workplace culture, increased productivity, reduced absenteeism, and increased retention.
Research has also shown that you can reduce your gender pay gap by fostering more gender equal uptake of parental leave and flexible working arrangements.
Your policy/strategy
| You have a policy or strategy for flexible working arrangements. | YES | |
| Metrics on the use of, and/or the impact of, flexibility measures are reported to your governing body. | NO | |
| You have a policy or strategy to support employees with family or caring responsibilities | YES | |
| You provide employer-funded parental leave | YES | |
| If so: | weeks of paid parental leave provided | 14 |
| superannuation is paid on parental leave | YES |
Some organisations monitor the number of men and women taking up flexible work and parental leave options as part of monitoring equitable treatment of employees.
Leadership behaviour is key to normalising taking parental leave and flexible work. Research has found that when the majority of more senior employees work flexibly, flexibility stigma is reduced.
GEI5 – Consultation with employees on issues concerning gender equality in the workplace
Employee consultation can provide valuable insights into workplace gender equality experiences, priorities, and potential actions, as well as contributing to employee engagement. Employers making the fastest progress on workplace gender equality are more likely to involve their workforce in the formulation of gender equality policies and strategies.
Your policy/strategy
| You have a policy or strategy for consultation with employees about gender equality | NO |
| You have consulted with employees on issues concerning gender equality in your workplace during the reporting period | NO |
Many organisations find employee network groups, which bring employees with shared characteristics such as gender, race, cultural heritage, sexual orientation, age and disability together, provide valuable insights on workplace gender equality. They can also act as a sounding board for testing and improving proposed strategies and interventions.
6 – Sexual harassment, harassment on the grounds of sex or discrimination
Employers have a positive duty of care to prevent and address sexual harassment or sex discrimination under the Respect at Work Act 2022. Creating safe, respectful and more equitable workplaces can also protect your organisations’ own productivity, culture and reputation.
Implementing formal policies or strategies and providing relevant education and training can protect employees.
Your policy/strategy
| You have a formal policy and/or strategy on the prevention and response to sexual harassment and discrimination | YES |
Many organisations find that anonymous surveys of their workforce yield more reliable insights on the prevalence of sexual harassment than is offered by their formal reporting mechanisms.
With the implementation of the Respect@work recommendations, WGEA is expanding the collection of data on policies and strategies that focus on the prevention and response to sexual harassment or discrimination.
Key terms and definitions:
Base salary: is an employee’s regular salary, excluding superannuation, overtime, bonuses and other additional payments.
Gender pay gap analysis: an analysis of what is driving an organisation’s gender pay gaps, looking at workforce composition by gender, representation in more senior and highly paid roles,etc.
Median gender pay gap: is the middle value after sorting the gender pay of organisations in the comparison group from lowest to highest. If the number of comparison groups is an even number, the median is the average of the two middle values.
Submission Group: is a group of legal entities from the same corporate group that have similar gender equality policies and strategies and therefore choose to report to WGEA as one group.
Total remuneration: this includes all remuneration for an employee, including superannuation, overtime, bonuses and other additional payments
¹ For the first release of employer gender pay gaps in early 2024, WGEA will only publish employer gender pay gaps by median and gender composition by pay quartiles and associated average salaries. In future reporting – when CEO, head of business and casual manager remuneration data can be included – employer gender pay gaps will be published by average (mean), median and quartiles.