A non-major bank has received recognition for its commitment to gender equality in the workplace for the sixth consecutive year.
The Workplace Gender Equality Agency (WGEA) has named Suncorp as an employer of choice for gender equality, citing the continued progress the institution has made in relation to gender equality and the promotion of an inclusive culture across the business.
Women represent 50% of the Suncorp board, senior leadership team and all leadership roles.
Suncorp CEO and managing director Michael Cameron – who is also a WGEA pay equity ambassador – said, “This is an important acknowledgement of our commitment to embed equality across the business, through inclusive workplace policies and practice.
“We recognise that we will be our best when our workforce is as diverse, talented and passionate as the communities in which we operate. We have achieved gender balance across our leader roles, and we continue to embed equality for all genders throughout the organisation,” he added.
To gain the recognition, Suncorp was assessed on a number of areas including gender remuneration gaps, discrimination, targets for improving gender equality outcomes and flexible working opportunities.
According to WEGA data published at the end of last year, there has been a steady increase in the number of women in management roles across the board and strong growth in employers taking action in areas such as equality policies and strategies, pay equity and flexible working.
Earlier this month, ABS figures confirmed the national gender pay gap has reached its lowest point in more than 20 years, at 14.1%
WEGA director Libby Lyons said, “The five years of data collection demonstrates the value of measuring workplace gender equality. We have clear evidence that employer action delivers real results and we should recognise the great work many employers have done in addressing issues such as pay equity. As employers have taken action, the gender pay gap has declined and gender equality outcomes for women and men across Australia have improved.
Another positive result is that women have increased their presence in management over the past five years.
“Women now comprise almost 40% of the managers in our dataset and almost a third of key management personnel, which is just under the CEO level, are now women,” Lyons added.
