Today Medibank published its first gender pay gap employer statement, sharing insights into the underlying drivers of its median gender pay gap and the ongoing actions the health company is taking to reduce the gap.
Medibank’s median base salary gender pay gap is 17.8%, compared to the industry average of 31.4%, and median total remuneration gender pay gap is 19.3%, compared to the industry average of 29.9%, in favour of men.
Medibank CEO and Champions of Change Coalition Member David Koczkar said: “We recognise the critical role we play in driving gender equality in our business and in the broader community.
“We’re proud to be a leader in gender equality and of the actions that we’ve taken to addressing gender bias, pay equity (like-for-like pay gaps), women in leadership, workplace flexibility, support for parents and carers and family and domestic violence.”
The pay gap is different from pay equity – where women and men are paid the same for performing the same role or different work of equal or comparable value.
“Since 2018, we’ve undertaken and disclosed an analysis of gender pay equity relative to market rates of pay and have consistently met our target of less than 1%,” he said.
Gender pay gaps reflect the uneven distribution of earnings across roles and sectors within an organisation.
“We have a pay gap, and we know why,” he said.
“Gender segregation remains persistent in Australia, by industry, occupation and management category and this disparity continues to be a key driver of our median gender pay gap,” he said.
Champions of Change Coalition and its members have been working over many years to advance gender equality across every level of leadership and address the national disparity in economic outcomes for women.
“We know the drivers of employer gender pay gaps require more than just action at one organisation, and this is why we continue to work closely with other businesses to drive action and change at an industry and national level,” he said..
