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Nous Group is pleased to report strong outcomes in gender pay equality, according to new data from the Workplace Gender Equality Agency (WGEA).
According to WGEA’s analysis, Nous Group has a 0.7 per cent median gender pay gap by base salary and a 3.6 per cent median pay gap by total renumeration. By comparison, the industry comparison group reports median gender pay gaps of 23.9 per cent by base salary and 23.1 per cent by total renumeration.
WGEA will publish employer gender pay gaps for Australian organisations with more than 100 Australian employees for the first time on 27 February 2024. An employer gender pay gap reflects the difference between the average remuneration of women and the average remuneration of men across the whole organisation. It is not a reflection of the differences in pay between men and women in the same roles – that is equal pay, which has been a legal requirement since 1969.
Sally Pritchard, Nous Group’s Chief People Officer, said: “We welcome WGEA’s public reporting on the gender pay gap. By holding businesses and industries to account, we will see greater progress on this important issue across Australia.
“Creating a diverse and balanced workforce has been ingrained in our strategy and culture since Nous was founded 25 years ago.”
Nous Group policies that promote gender equality span paid parental leave with superannuation, flexible work and a culture of self-management. We continuously monitor the impact of our policies and processes, including recruitment and promotion processes, to ensure they contribute towards a gender equal environment.
Sally continued: “Our goal for Nous is to be an inclusive, equitable workplace that celebrates the diversity and value of all our people. We prioritise gender equality through a range of initiatives and policies and the impact of these is reflected in the figures reported by WGEA.”
Analysis shows our median base salary gap of 0.7 per cent is driven by a relatively high concentration of female employees in the lower middle pay quartile whereas the gender split in the upper, upper middle and lower quartiles is more evenly balanced.
Nous Group data shows the 3.6 per cent pay gap by total remuneration reflects the choices made by individuals in relation to our collaborative bonus offer.
Nous offers a discretionary, collaborative bonus in addition to the base salary, which allows our people (Nousers) to share in the success of the organisation. The collaborative bonus offers the same percentage of salary to everyone in any given year, independent of salary level or individual performance, for those who opt in. Some Nousers have lower risk tolerance or are at a stage in life where a higher fixed salary is more attractive so we have half and no-bonus options. For those selecting half or no bonus, base salary is adjusted upwards to recognise the trade-off between salary and bonus participation, with a lower overall potential remuneration should Nous perform as expected.
Our data shows that a higher proportion of female employees selected a no bonus option in financial year 2022-23. Individuals can change their bonus selection annually.
Sally said: “Year to year, we expect some minor fluctuations in our gender pay gap because it reflects the evolving composition of our team and the bonus choices of individuals.
”While our gender pay gap is well below the industry average, we are committed to maintaining our focus on gender equality. We will continue to work with our employee networks to evolve our strategies and practices to ensure they support all our people to shape their growth and development journeys in a fair and equal environment.”
Learn more about our policies and approach to equity, diversity and inclusion.