The ‘good bloke’ mentality is to blame when it comes to discretionary remuneration, a key driver of pay inequality.
The gender pay gap is a persistent problem for many business leaders as the “good bloke” bias keeps getting in the way of progress.– based on data from the Australian Bureau of Statistics – stands at 13.3 per cent, an improvement on 17.4 per cent when the Workplace Gender Equality Act 2012 was introduced. Based on the current annual pace of progress, the Financy index calculates it will take 24 years before we see pay parity in Australia.
The Albanese government has been more active than previous governments to promote and improve gender equality at work, but the pace of progress remains painfully slow when it comes to business behaviours.Sophia Rahmani, CEO and managing director at Maple-Brown Abbott, blames much of this on persistent unconscious bias and leaders putting too much focus on base salary instead of total compensation.
LTIs are considered a valuable part of a total compensation package, both for delivering rewards and focusing employees on desired future outcomes and objectives. “There are so many ways that pay is influenced by decision-maker discretion,” Kulik says. “For example, women may not be part of the informal networks to know what kinds of incentives they could negotiate into their contractual arrangements.“Research demonstrates female managers are routinely assigned smaller budgets and fewer subordinates than male managers at their same level – and those resources influence their performance indicators, which in turn influence performance-based bonuses.
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