State of play in Australia
Australian Bureau of Statistics figures indicate that:
- Women in the workforce numbered just under five million, comprising 45% of Australia's entire labour force. The female labour market participation rate was 59.3%, compared with 72.2% for men, and the gap between them is closing.
- Women make up 51% of all professionals in Australia, outnumbering men by 20,000. Yet men outnumber women in managerial jobs by more than three to one – 28% of managers and administrators are women. In 2010, women account for only 8% of executive key management positions, 8.4% of board positions, 2.5% of Chairs and 3% of CEOs of the top 200 ASX listed companies.
- The ratio of female to male average weekly full-time earnings is 85.6%.
What does this mean for organisations?
Making the most of the skills and talents of all your employees, regardless of gender, is something all employers would aspire to. The reality, however, in many workplaces, is that the talents of women are often underutilised.
Taking steps to proactively attract and retain women in the workplace will assist your organisation in may ways.
ASX reporting requirements
The ASX Corporate Governance Council has introduced a requirement for Australian listed companies to adopt and disclose a diversity policy and measurable objectives relating to gender or explain why they have not done so. From 1 January 2011, Australian listed companies will be encouraged to disclose in their annual reports:
- The company’s performance in achieving gender objectives set out by the board; and
- The proportion of women on the board, in senior management and employed throughout the whole organisation.
Clearly this will give impetus to greater action by the private sector in the area of gender diversity.
