It’s time to commit to an Economic Equality Pact in Australia, so we have set a bold timeline of 2030 to make a difference.
Why? Well the Financy Women’s index is now into its fourth year of reporting and over that time we have seen the financial progress of Australian women improve and the timeframe to achieving gender equality decline.
Despite this, Australia is not considered to be an international leader on closing critical gender equality gaps, according to the World Economic Forum’s Global Gender Gap Index 2021 rankings released in March this year.
In fact, we are well behind our nearest neighbour New Zealand (NZ 4th versus AUS 50th) when it comes to progress. The Women’s Index also shows Australia is still several generations away from removing the financial inequalities that hold women back relative to men.
This is just not good enough. As an advocate for women’s progress, I believe we now require a national response that includes committing to a grand plan and timeframe for achieving gender equality in this country.
This is where we must take matters into our own hands. So in this March edition of the Women’s Index we are launching the consultation phase of the Economic Equality Pact 2030, which we encourage like-minded business, organisations and governments to participate in before a formal signing process in the new financial year.
In becoming a signatory, we hope to inspire action-taking to improve gender equality in Australia. We also seek to influence other countries and organisations to make similar time commitments like the 2030 target.
The consultation phase of the Economic Gender Equality Pact 2030 starts with six centrepiece initiatives that are likely to help businesses have a positive impact towards gender equality.
Please join us in supporting this Economic Gender Equality Pact 2030.
- Education: Employers encourage equal participation of men and women in education and mentor programs that support career development. Employers provide internship or mentoring programs to girls in years 11 and 12 and at university to support diverse career choices.
- Leadership: Employers ensure equal representation of at least 40% women in leadership positions the workplace. And have a proactive internal policy in place to improve gender diversity in leadership.
- Unpaid Work: Employers offer non-gendered and equal paid parental leave to both parents.
- Superannuation: Employers provide Super Guarantee payments on parental leave regardless of gender. And information or incentives to help female employees contribute more to their balances to help close the gender gap.
- Gender Pay: Employers have a proactive and documented policy to support reducing gender pay gaps where they exist within an organisation.
- Employment: Employers provide family-friendly work policies such as flexible or remote work arrangements. And zero tolerance for gender discrimination or violence against women in the workplace.