Having recently taken up a graduate position with AGL, I find AGL's commitment to increasing the representation of women in the senior leadership positions to be personally motivating. It is great to be a part of a company which is striving to build a workplace where women can thrive and achieve their potential.
AGL acknowledges that gender equality is important, not only because it is fair, but because it is linked to overall company performance. Research shows that increased representation of women on company boards and in senior management positions is positively correlated with better financial performance, higher employee retention rates, and enhanced corporate image and reputation.
AGL is building an increasingly gender inclusive work culture through various commitments and initiatives:
- AGL has set a target to increase the number of women in the Senior Leadership Pipeline to 40% by FY19. AGL is on track to meet this target: increased focus on gender equality has seen the proportion of women in the Senior Leadership Pipeline climb from 34% in FY16 to 38% at the end of FY17. During FY17, the external appointment rate of women to the Senior Leadership Pipeline was 51%, and the internal appointment rate of women to the Pipeline was around 48%. The representation of women in the senior leadership pipeline is a closely watched number in the monthly performance reporting and discussion with the Executive Team.
- AGL's Board of Directors also committed to a target of 30% female representation by 2018. This target was met in September 2016, making AGL one of 22 ASX 50 companies which can boast more than 30% female representation on their Board.
- Gender diversity is monitored at all levels of the organization, in compliance with the Workplace Gender Equality Act 2012. Our recruitment process is being improved to ensure women are represented on the shortlist for senior roles and less-traditional occupations on hiring panels.
- Gender pay equity is reviewed bi-annually and gender pay equity analytics are incorporated into our annual remuneration review system.
- In FY17, we launched AGL Equality, an employee network of women and men passionate about gender equality, working together to ensure that women thrive and realise their full potential.
- In FY17 AGL announced an increase in our paid parental leave entitlement from 14 weeks to 20 weeks, providing greater flexibility and support for primary carers of new babies. This parental leave support entitlement is industry leading.
For further information on AGL's gender equality commitments, performance and the various initiatives in place, see our FY17 Sustainability Report here.