Data driven insights for your gender strategy: Four ways to leverage your WGEA benchmark report
By Linda Peach and Heidi Sundin
You may have recently seen the release of the Workplace Gender Equality Agency (WGEA)’s Gender Equality Scorecard – which provides the overarching picture of the state of gender equality across Australian workplaces.
Every year the WGEA also produces Competitor Analysis Benchmark Reports which are individual and customised benchmark reports for each reporting organisation. The reports draw from data from around 5,000 non-public organisations who employ 100 or more people in Australia. The benchmark reports allow individual organisations to see how they are performing on the WGEAs Gender Equality Indicators (GEIs) in relation to all organisations in their industry or sector or across all reporting organisations.
How can you leverage the benchmarking data from your customised report?
Understand How your organisation compares on gender equality
Your customised benchmark report shows your organisation’s position in relation to all other organisations in your sector and across all reporting organisations in Australia. For example, whether your organisation employs similar proportions of women in different roles, or has larger or smaller gender pay gaps, compared to the sector or industry, or compared to the rest of the reporting organisations in Australia. The reports also provide comparative data on the percentage of organisations that have policies or strategies in place, or have taken specified actions, to support gender equality.
Gain data-driven insights in building your strategy and communicating with stakeholders
The benchmark reports provide evidence to support your organisation to identify issues and opportunities, and to develop targeted programs to address issues around gender equality. Benchmarks are also valuable for reporting to key stakeholders on your organisation’s progress towards gender equality over time, in comparison to other organisations in the sector or in Australia. This might include reports to senior leaders, governing bodies, shareholders or in annual reports.
Set goals and track progress
Your organisation may want to set goals to improve gender equality - you can use the comparative benchmarks from either their tailored reports or the Data Explorer to inform the development of your goals. For example, if your organisation employs fewer women in specific manager categories than their comparator organisations, the benchmarking data can provide a starting point for setting goals and targets to improve. Similarly, the benchmarking data around gender pay gaps can be used to track progress and set goals for reducing their pay gaps over time.
Build your employee value proposition for Recruitment and retention
The data also provides a powerful mechanism for developed recruitment and retention strategies that may give an organisation an advantage in a tight labour market. For example, if the WGEA benchmarking data shows that few organisations in your industry or sector provide flexible working arrangements to managers, this may be something your organisation could offer to attract and retain more women in senior leadership roles.
Take the next step
Make sure you take the opportunity to obtain and review your Competitor Analysis Benchmark Report to fully leverage the power of data to improve gender equality in your workplace.
About The Agenda Agency
Dr Heidi Sundin is the Director of The Agenda Agency — a boutique consulting firm specialising in corporate strategy, SME growth and diversity strategy. Heidi works with organisations to drive growth, innovation and gender diversity. Her approach is to collaborate with leaders and teams to develop customer-centric tailored solutions. Her experience spans strategy development and creating transformational programs across corporate, professional services, academic, government and the non-for-profit sectors.
Dr Linda Peach, is a Diversity and Gender Equality consultant and Senior Manager at The Agenda Agency. Linda is an expert in gender equality and diversity more broadly in the Australian context. Linda specialises in diversity data analytics and research, reporting and support for accreditation programs. Linda uses her deep analytics and research skills to investigate issues around gender representation, pay equity, flexible working arrangements, recruitment and promotion to help organisations improve gender equality in their workplaces.
Check out theagendaagency.com