During FY17 Investa reaffirmed its commitment to gender diversity amongst staff via the establishment of a 40:40:20 (i.e. minimum of 40% female, minimum 40% male, 20% balance variable) gender balance target for all managerial and professional role categories.
This target was linked to the short-term incentive (STI) compensation outcomes of all executives and employees across the Group, reinforcing the importance of this target to Investa’s strategy. Targeting gender balance at all levels of leadership helps Investa to ensure a steady inflow and retention of female talent, who are ready to take on senior leadership roles. Pleasingly, in FY17 Investa achieved this target in four out of five categories, representing a substantial improvement from 2016. This target remains in place for FY18 and is once again a key focus area for Management.
The Australian Workplace Gender Equality Agency reports that Australia’s full time gender pay gap at 15.3%. In support of our comprehensive focus on gender diversity, Investa has strengthened its practices in relation to gender pay equity analysis, integrating this into annual remuneration review and performance review processes. In addition, in late 2016 Investa commissioned an external gender pay equity study facilitated by Aon Hewitt. Leveraging the insights from this analysis, any areas of concern in relation to pay parity were addressed promptly as part of the annual remuneration review process in June 2017. Pay equity analysis will be conducted on an annual basis to ensure our people continue to be remunerated fairly for their contribution and performance.
Investa is extraordinarily proud of this commitment to gender diversity and pay equality and looks forward to reporting on this in future reports.