We note that in reports of early November, the Workplace Gender Equality Agency (WGEA), using ABS data, revealed that the national gender pay gap presently stands at 14.6%, the lowest in twenty years. The WGEA noted that the gap had hovered between 15% and 19% over the past two decades.
The past 10 years has highlighted that movement in Average Weekly Ordinary Time Earnings (AWOTE) are almost twice that of the movement in the Consumer Price Index (CPI).
Senior executive’s fixed or come-to-work remuneration among Australia’s leading companies has been in decline over the last decade.
This article was triggered by an enquiry from Patrick Durkin of the Australian Financial Review, responding to comments by the former Treasurer, Wayne Swan, that Chief Executive pay is “out of control”.
On June 1st 2018 the Fair Work Commission increased the minimum wage by 3.5%.
The setting for a June/July Pay Review for those on the minimum wage, those on average weekly earnings, senior professional staff and organisation leadership, is about to become front and centre.
The Australian on April 14, 2018 reported that Tony Shepherd, a highly respected executive with significant engagement in the private and public sectors and Chairman of the Abbot government’s cost-cutting taskforce, recently questioned whether Federal public servants and politicians should enjoy a 15.4% employer superannuation contribution when other workers receive only 9.5%.
Australia is facing new challenges and opportunities within the shifting patterns of international trade and the security of its commercial foothold and viability both locally and globally.
Given the considerable discussion and public comment in relation to the equality of pay, there is merit in addressing the challenge faced by employers in endeavouring to be fair in rewarding their workforce.
A recent perspective offered by Bill Shorten, the leader of the Federal Opposition, has outlined an approach which Labor would consider supporting to improve the rewards available to those on the national minimum wage.