• FWX Dec qtr 2023  75.5
  • FWX yr-o-yr  1
  • FWX qtr-o-qtr  2
  • ASX 200 Boards years to equality  6.3
  • Underemployment years to equality  21
  • Superannuation years to equality  17.7
  • Gender pay gap years to equality  21.9
  • Employment years to equality  27.5
  • Unpaid work years to equality  46.1
  • Education years to equality  389

Is gender equality the next OH&S issue for business?

We look at the rise of gender equality issues and what it means for business and employees in 2022.
Financy
December 16, 2021

2022 is shaping up to be a year where organisations, employees and investors will find themselves considering gender equality polices in much the same way as OH&S.

It was only 2011 that the Work Health and Safety Act 2011 took effect and provided a framework to protect the health, safety and welfare of all workers at work. It also protects the health and safety of all other people who might be affected by the work.

At the time, and indeed even before that in the early 2000s, it was pretty common to hear business managers talk about their increased Occupational Health and Safety (OH& S) obligations and what it might be costing them to implement.

But to give that perspective, it’s estimated that introducing OH&S systems and improved workplace standards has led to a 50% reduction in at workplace deaths since 2007. Still in 2020, 194 people died from workplace incidents of which 8 were women and the rest were men.

The whole point of having these OH&S policies in place – doing the added paper work and actions – is to manage risk and that means identifying those potential risks and working to minimise or eliminate them.

That brings me to women and gender equality, which according to a new survey by Mission Australia is regarded at the 3rd most important issue for 2021 that young people feel Australia must address. The pandemic and climate change are 1st and 2nd on the list.

With gender equality a notable global issue today, and Australia’s own Workplace Gender Equality Act under review, it’s highly likely that organisations will need to ensure they manage future risks by having policies in place to support equality, diversity and inclusion within their workplaces and as part of their supply chains.

Three ways that employers can stay ahead of the game:

  • A gender pay gap audit of your organisation. Look at the salary gap by gender in like for like and across managerial roles.
  • A management audit by gender and diversity. What does your business look like across departments?
  • A procurement policy audit. Do your supply chains reflect gender equality and diversity opportunities. In other words does your company image walk the talk outside of the office?

Three ways that employees can also stay ahead of the game and demand change.

  • Does the company have a gender equality, diversity and inclusion policy. If not, have you suggested creating one across the business and to look at management, non-management and supply chains? Is the business open to listening to your suggestions.
  • Does the company do a gender pay gap audit. Is the organisation open to doing one?
  • How supportive is the workplace with respect to paid parental leave and the opportunities for female leadership? Have the conversation or spark a new one and see how it falls.

 

Financy helps women become financially fearless and while we’re at it, we ensure that our members – individuals and organisations – are part of the solution to gender financial equality. Subscribe for FREE to our newsletter or dial things up a notch with a Financy Membership.

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Financy
December 16, 2021
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