Bayer Australia Pay Equity Statement 2024
Bayer reported a 3% mean and 9.2% median pay gap in its 2023 WGEA survey, down from 12.3% mean in the previous year.
WGEA reportable pay gap
Current pay gap performance reflects workforce participation along with workforce distribution across management and non-management roles, with the largest gaps relating to roles within general management, clerical and administration and technicians or trade-based roles.
Our commitment is to continue to strive for pay equity across our organization, at all levels and roles regardless of gender.
Our Pay and Talent Management Practices
Bayer Australia has implemented a number of measures to evaluate and address pay equity:
- Pay Equity and Performance:
- In 2023, Bayer launched a new, global AI-led study to review an adjusted pay equity position across employees in 23 countries including Australia.
- Taking all employees pay data and excluding understood differences such as level of education, role, division, length of service and time in position, the company was able to examine a focused group of potential gaps to close them. For Bayer Australia this adjusted gap was 1.2%. This annual review will enable Bayer to monitor and respond to any changes in its pay gaps, ongoing.
- In addition, we undertake manual pay equity analysis on an annual basis by division, function, and ANZ wide. We assess performance outcomes by gender (including performance outcomes, bonus payments).
- We review our total workforce to analyse individuals performing similar work at the same level have equitable compensation opportunities.
- All roles at Bayer Australia are objectively defined and evaluated. We participate in regular market salary surveys to keep up with trends in our market, and our defined salary frameworks provide a standard approach for our compensation decisions.
- Talent Management:
- We focus on mitigating any bias where key decisions are made in relation to talent – specifically, recruitment, promotion, leadership appointments and team composition.
Action Plan for Bayer Australia
- Equitable leadership opportunities and advocacy of female talent
- Attracting and hiring diverse talent
- Mentoring of female talent at all levels
- Market leading flexible working arrangements
- Competitive pay and benefit practices
- Competitive parental leave benefits for both parents
- Equitable and inclusive performance and recognition practices.