Company boards will be put on notice over gender pay gaps after laws requiring chief executives to provide reports to their governing bodies about how men are paid compared with women were passed with bipartisan support on Thursday.
In practice, it is envisioned that these reports will be provided to boards for formal discussion to enable consideration of progress towards gender equality goals. Speaking in support of the bill, Prime Minister Anthony Albanese said the move would put a spotlight on the pay gap between men and women, and the gap between a company’s words and its actions.
The changes will lead to the publication of gender pay gap reports for companies with more than 100 employees and federal agencies. If state governments come on board, this would see around 60 per cent of all employees covered.Gender pay gaps are not a comparison of like roles, but rather show the difference between the average pay of women and men across organisations, industries and the workforce as a whole.
The first gap reports will be published early next year. They will identify the median difference between male and female pay at each organisation and the pay gap at each remuneration quartile.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WeWork mugs for $500: 10 of the strangest merch items from companies that crashedFTX fortune cookies and Theranos gift cards offer souvenirs from recent business disasters
Source: GuardianAus - 🏆 1. / 98 Read more »
Restricting gas supply will push companies to more ‘carbon intensive’ alternativesThe Australian’s Environment Editor Graham Lloyd says restricting gas supply will make companies turn to coal and other more “carbon intensive” energies to get by. “Gas is a transitional fuel to back up wind and solar and renewables, if you make gas more expensive because you restrict supply … companies will default to coal and other forms of more carbon intensive energy to get by … hobbling gas really hobbles the whole process of the transition,” Mr Lloyd told Sky News host Peta Credlin. Got a great idea, we’ll cut all the trees down, turn it all into a giant solar farm, and that’ll be environmentally friendly and…shit it only works at night. The Libstralian not a valid source of information, good source of bird cage liner
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Are short-term accommodation companies like Airbnb and Stayz keeping Canberrans from finding affordable rentals?The ACT Greens will bring forward a motion today in the Legislative Assembly, proposing a cap on the number of short-term rentals in Canberra. Lol yes Seems werid to only ask this question now, hasn’t it been like 2-3 years Silicon Valley already ruined their own home towns (San Fransisco and Seattle) and they care even less about yours, across the globe.
Source: abcnews - 🏆 5. / 83 Read more »
Companies required to report gender pay gap under new billEqual Workplaces Co-Founder Dr Rachel Howard says companies will be required to report their gender pay gap publicly on the workplace gender equality agency website under the new gender pay gap bill. “It’ll take about 26 years to close the gap, so this is going to make a big difference,” Ms Howard told Sky News Australia. “It’s very difficult to predict when it will close and how much of a difference this will make.” More red tape, more reporting, more costs to business. Where will it end? When the recession hits can we just park it until the cost cutting is completed. Gov controlling the masses. Communism is here Australia This will backfire spectacularly when it’s shown that more women get paid MORE than men for the same job.
Source: SkyNewsAust - 🏆 7. / 78 Read more »