Organisations to disclose gender pay gaps in 2024

Next year organisations with more than 100 staff will have to publicly disclose their gender pay gap.

Earlier this week, the federal government passed the Workplace Gender Equality Amendment (Closing the Gender Pay Gap) Bill 2023 to help close the gender pay gap. 

The federal government said this is “a key reform to drive transparency and action towards closing the gender pay gap.”

Prime minister Anthony Albanese made an election commitment to help close the gender pay gap for women in Australia.

Gender pay gaps will be published on the Workplace Gender Equality Agency website.

Katy Gallagher, minister for women said this bill is a “critical step towards achieving women’s economic equality.”

She said, “The Albanese Labor Government is getting on with the job of closing the gender pay gap for women in Australia, and our efforts to drive a better deal for Australian women doesn’t stop there.

“In just nine months in government, we have already got cracking in other areas to progress the economic equality of women with access to cheaper childcare and the increase to 26 weeks for Paid Parental Leave; through our Industrial Relations changes; and through our investments in housing and women’s safety”.

Gallagher said on current projections it will take another 26 years to close the gender pay gap.

She said, “Women have waited long enough for the pay gap to close – this government will not let them wait another quarter of a century.”

In 2023, Australia’s national gender pay gap was 13.3 per cent. The average weekly full-time earnings of a woman in Australia are $253.50 lower per week than the equivalent for men.

The bill was introduced to parliament in early February.

Gallagher said said global experience shows transparency encourages organisations to take action to close the gender pay gap in their workplace.

A recent Global Gender Gap report said it would take 132 years to reach full parity.