August 28, 2017

Alcoa MD: It’s time to shut the door behind the gender pay gap


Alcoa of Australia Chairman and Managing Director Michael Parker_1Alcoa of Australia Managing Director Michael Parker has signed on to become a Workplace Gender Equality Agency (WGEA) Pay Equity Ambassador, and says it’s time to shut the door firmly behind the gender pay gap .

“It’s with great pride that I’ve recently become a Pay Equity Ambassador, a role which will actively promote the work we’ve been undertaking at Alcoa to achieve pay equity,” Mr Parker said.

Alcoa’s analysis indicates that the total average pay of all women was 7.6 per cent less in 2016 than the total average pay of all men. Western Australia has a pay gap of 22.8 per cent, compared to 15.3 per cent nationally.

“At Alcoa, we have a greater percentage of men in senior roles, working on shift, or with significant continuous service or experience.  We know these are factors contributing to our pay gap and we’re making changes that are delivering results,” Mr Parker said.

“Each year we conduct a pay equity audit and analysis to identify discrepancies or issues. I personally sit down with our Compensation Director so we can make the necessary adjustments towards pay equity.

“We now have processes in place to ensure consistency on all impacts of compensation such as promotion, return to work and performance ratings.

“And we make sure our stock awards, bonus payments and other recognition rewards are reviewed for gender equity – and they are challenged if they are not fair.”

Further initiatives undertaken by Alcoa include:

• Pay reviews when joining the company and at promotions, salary movements, out of cycle reviews and when people return to work from parental leave;
• Job evaluations and comparison of job band levels to the market;
• Inclusive recruitment advertising that attracts talented women in the market;
• Training and development opportunities for women in senior and operational roles; and
• Annual analysis to identify further initiatives or focus areas reported to the leadership team.

WGEA Pay Equity Ambassadors sign a pay equity pledge and commit themselves to working with WGEA to promote and improve gender equality. For further information and to read the Pay Equity Pledge, please visit the WGEA website.

ENDS

Media contact: Mika Sangalli, mika.sangalli@alcoa.com.au or 0409 125 623