Equal Pay Day, while probably not a day your office rolled out the cupcakes to celebrate, is a reminder of the progress we’ve made, and the challenges we face.
In a world that increasingly champions equality and diversity, one would hope that the concept of equal pay between men and women would be an established norm. Yet, every year, Equal Pay Day serves as a stark reminder that we still have a long way to go to achieve true gender financial parity.
It’s important to point out that equal pay day is not about ensuring that everyone across the board is paid the same – that’s a conversation for another day – but instead about every single individual being equally compensated for the same job being performed. Despite improvements, the reality remains that women are still earning less than men across all industries and in every state and territory.
It’s evident that employers play a crucial role in reshaping the landscape of gender equality in the workplace. This goes beyond merely addressing pay gaps. Employers must recognise and challenge entrenched gender norms and stereotypes that hinder women’s progress, and instead foster an environment where women can thrive professionally and personally.
Legislative changes, like the government’s Secure Jobs, Better Pay Bill and the upcoming mandatory reporting on gender pay gaps, are steps in the right direction. However, as Simone Cheung, partner at Deloitte Access Economics, aptly points out, the real test lies in how women fare amidst the challenges of a cost-of-living crisis and economic uncertainties – something we’re all struggling with – as with every economic crisis though, the most impacted are women and minorities.
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