The bank now reports on Māori and Pasifika pay gaps
ANZ Bank New Zealand has disclosed a slight improvement in its gender pay gap for 2023.
The gap has reduced to 20.1% from 20.5% in 2022, reflecting the bank’s ongoing efforts to foster an equitable workplace. Notably, the pay equity gap, which measures comparable pay for similar roles, slightly favoured women at 3.3%, showing a minimal change from 3.6% the previous year.
“At ANZ we’re working hard to build a workplace that is equitable, diverse, and inclusive,” ANZ NZ CEO Antonia Watson (pictured above) said in a media release. “This is the third year we have reported our overall gender pay gap. It is encouraging to see an improvement, but there’s more work to do.”
Senior roles and initiatives
The analysis highlighted a significant factor behind the gender pay disparity: the concentration of men in senior and managerial positions.
ANZ said it is actively implementing initiatives to support and develop women and gender-diverse talent for these higher roles, aiming to further close the gender pay gap.
Ethnicity pay gap reporting
For the first time, ANZ has expanded its reporting to include the Māori and Pasifika pay gap, showing a 21.7% difference in average pay compared to European/Pākehā employees, an improvement from 23.3% in 2022.
This commitment to transparency extends to encouraging staff to voluntarily declare their ethnic identities, supporting a more comprehensive understanding of pay equity within the organisation.
Voluntarily submitted data showed that 8.7% of the bank’s workforce identifies as Māori or Pasifika.
Towards a more diverse workforce
Despite these positive steps, ANZ acknowledged that its workforce composition does not yet mirror the diversity of New Zealand’s communities. The bank said it was dedicated to enhancing the representation of women, Māori, and Pasifika employees, understanding that transparency and accountability are key to achieving this goal.
For further details on ANZ’s efforts towards equity, diversity, and inclusion, check out ANZ's Equity, Diversity, and Inclusion Initiatives.
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