There is a lot of buzz on the need for Women Leadership Development but on-ground there is a considerable discrepancy in promoting the advancement of women leaders, which contributes to their ongoing underrepresentation in the corporate arena.
This blog series is an attempt to aggregate and share data on how Corporate Australia lags in its Gender Equity efforts.
These statistics offer a comprehensive view of the underrepresentation of women in leadership roles and highlight the urgency for organisations to take action.
Key Data and Statistics on current trends in Women Leadership in Australia
Now entering its seventh year, the CEW Senior Executive Census tracks the annual progress of women’s representation in Executive Leadership Teams in Australia’s top companies.
The 2023 findings show how women continue to stay underrepresented in Corporate Australia:
However, the 2023 data does show some silver lining:
There are 3 calls to action shared by CEW in their study:
Released on The International Women’s Day, this report gives a detailed view of “what life looks like for women in Australia in 2023”. The report looks at education, economic outcomes, health and safety, housing and gender norms.
We have summarised key stats around gender pay gap from the report:
The Women’s Economic Equality Taskforce chaired by Sam Mostyn AO, is “an independent group established to provide advice to the government to support the advancement of women’s economic equality and achieve gender equality.”
They recently submitted their final report Women’s Economic Equality: A 10-year plan to unleash the full capacity and contribution of women to the Australian economy.
Here are some of the key findings of the taskforce on gender roles and attitudes in Australia that shares how Australia stands to gain $128 billion by unlocking women’s full and equal participation. Here are some of the current gaps that the report highlights:
In a strong push to addressing gender pay gap, the govt. has now mandated Australian companies to share their gender pay data. As reported by the AHRI –
The Workplace Gender Equality Amendment (Closing the Gender Pay Gap) Bill 2023, which was introduced into Parliament on 8 February, will set out to publish the gender pay gap of organisations with 100 or more employees. Reporting will commence in 2024, and gender pay gap information will be published on the Workplace Gender Equality Agency (WGEA) website.
In some early research on the topic, there is a causation that has been discovered between gender diversity and profitability based on data from Australian workplaces.
A report published by the Bankwest Curtin Economics Centre (BCEC) and the Workplace Gender Equality Agency (WGEA) found that an increase in the share of female ‘top-tier’ managers by 10 percentage points or more led to a 6.6 per cent increase in the market value of Australian ASX-listed companies, worth the equivalent of AUD$104.7 million. The other key findings included –
• The appointment of a female CEO led to a 12.9 per cent increase in the likelihood of outperforming the sector on three or more metrics
• An increase of 10 percentage points or more in the share of female key management personnel led to a 5.8 per cent increase in the likelihood of outperforming their sector on three or more metrics
This is an important resource to understand gender equality gaps from an intersectional lens, looking at how women from First Nations, from CARM (Culturally and Racially Marginalised) apart from those with disability, of different ages, of LGBTQIA+ backgrounds experience gender equality at work.
It’s a crucial resource for all organisations especially in Public Sector at building an intersectional approach to their gender equality programs.
In a corporate landscape that continually struggles with gender equity, these data points act as a clarion call. In our next blog series, we will look at key data on linkages between strong women leadership and business outcomes. Stay tuned!
Discover which stage your organisation is in its Gender Equity Maturity. Download our latest report to take the assessment and get specific recommendations on how you can take your gender equity to the next level.
Select your desired option below to share a direct link to this page.