Australia has made significant strides in advancing gender equality through policy action and reform over the past five years, but challenges remain and to combat this, Financy has developed a wish list to cement gains for good.
Key legislative changes, such as mandating the publication of employer gender pay gaps and requiring large employers to set equality targets, alongside embedding gender equality as an objective in the Fair Work Act, mark substantial progress.
However, despite these efforts, Australian women still face a multi-generational wait for overall parity.
This progress exists alongside a palpable anxiety. Each federal election cycle brings the risk that hard-won reforms could be wound back or commitments dismissed.
While Australia might not be seeing the same level of diversity, equity, and inclusion (DEI) push-back currently witnessed in the United States, concerns remain about potential shifts in policy priorities that could stall advances in areas like equal pay and support services for women. This underscores a critical need for ongoing vigilance and advocacy.
To address these concerns and build on existing frameworks, the Financy Women’s Index proposes an “Evidence-Based Wish List”. These reforms aim to ‘hardwire’ changes into legislation, creating a lasting structural impact that drives both gender equality and national productivity, founded on the belief that a more gender-equal society is inherently more prosperous.
An Evidence-Based Wish List for Lasting Change
Here are five key reforms proposed to solidify and accelerate gender equality in Australia:
- National Strategy for Supporting Men on Gender Equity Benefits: Implement a national strategy to educate fathers and young men about the universal benefits of gender equity, using schools, media, and community programs, while promoting positive parenting role models. This would be embedded in school curricula and backed by dedicated funding.
- Legislated National Gender Responsive Budgeting: Mandate rigorous, independent Gender Impact Assessments (GIAs) for all significant new budget proposals, policies, and expenditures before approval, following Victoria’s lead but making it a national, legislated requirement. An independent body would oversee these assessments and conduct audits.
- National Pay Equity and Transparency Act Reform: Expand mandatory public reporting of gender pay gaps to all employers with 50+ employees. Strengthen the Fair Work Commission’s power to issue equal remuneration orders without waiting for complaints. Require companies (50+) tendering for government work to demonstrate proactive measures to close their pay gaps. Broaden WGEA data collection to include intersectional details like race, age, and disability.
- Expanded Paid Parental Leave (PPL) Act Reform: Legislate a national PPL scheme of at least 52 weeks, flexibly shared, with “use it or lose it” portions to encourage fathers/partners to take 26 weeks each. Crucially, legislate the payment of superannuation on all government PPL and on employer PPL for companies with 100+ employees.
- National Strategy for Valuing Unpaid Care: Legislate a National Strategy to measure, value, and integrate unpaid care work into economic and social policy. This includes establishing a “Care Economy Taskforce” and funding media campaigns to challenge gender stereotypes around care and parenthood.
These proposals aim to create permanent, legally mandated frameworks that ensure gender equality remains a core focus, safeguarding progress and fostering a more equitable and productive future for all Australians.
To download your copy of the Financy Women’s Index, visit this link.
