Nexia Sydney celebrates equal pay
- Nexia Sydney achieves pay parity in the latest WGEA results
- Increased training opportunities, revised parental leave, and flexible hybrid work options has helped the retention of women in the business, which now comprises of 54% female employees
- Nexia International’s Aspiring Women Leaders course wins the Diversity, Equity and Inclusion Award at the International Accounting Forum and Awards in 2023
Nexia Sydney’s latest Workplace Gender Equality Agency (WGEA) results published on Tuesday 27 February 2024 show Nexia’s female staff receive 0.2% more in average (mean) total remuneration than male staff, compared with an industry average of 16.2% in favour of men.
Median total remuneration is also on parity with 0.3% in favour of the male staff compared with an industry average of 13.4% in favour of men.
Female staff, which now comprises of 54% of the workforce, are encouraged to participate in Nexia International’s Aspiring Women Leaders course which has won the Diversity, Equity and Inclusion Award at the International Accounting Forum and Awards in 2023.
Additionally, a revised paid parental leave scheme implemented 2-years ago has positively contributed to the retention of female employees. The updated scheme provides up to 18 weeks to the primary carer and 4 weeks to the secondary carer. Superannuation is paid for the entire period of parental leave, both paid and unpaid.
During their leave, female staff members are encouraged to take up 10 Keeping in Touch days where they come back into the business and make sure they are across new developments, catch up with their teams and attend any key training sessions.
Their managers are encouraged and supported by HR to stay in touch with their staff on parental leave so that they are not overlooked for promotions on their return to work.
When the female staff member returns to work, she is offered professional coaching on how to navigate having a baby and coming back to work.
For Jane Fenner, a partner in Business Advisory, the paid parental leave scheme means peace of mind as she prepares for the birth of her second child in May.
“Easing the financial burden allows me to switch off from the workplace and spend that time, those early weeks with my baby,’’ Ms Fenner said. “I’d say that’s the biggest benefit of the policy”.
“Also coming from a financial background, I have been so aware for a long time about the impact of taking time out of the workforce on superannuation retirement balances”.
“So, the fact that we offer what we do in terms of superannuation is a no brainer because that investment, now at more than 11% of a person’s wage, could mean significantly more savings by the time I retire.’’
Ms Fenner, who has been a partner for more than five years, said the firm had put a lot of effort into its paid parental leave policy. Ms Fenner was a test case for the improved paid parental leave scheme when she had her first child almost two years ago and she said all of the partners had been incredibly supportive.
“Parental leave was one of those things that we wanted to tackle to make our firm a more attractive option for females,’’ Ms Fenner said.
Nexia has also implemented a flexible work policy that allows for starting times between 7.30am and 9.30am and finishing times between 4pm and 6pm with their manager’s consent, and according to the roles and responsibilities of the job.
“If someone, male or female, has to start earlier and leave earlier because, for example, they have a young family at school age, or caring responsibilities, those circumstances are understood and worked through.’’
Workshops also encourage female staff to assert themselves when it comes to their careers, after research showed they were less likely than men to put themselves forward to pursue promotions.
Managing Partner, Andrew Hoffmann said “combining focused training opportunities, increased paid parental leave, and flexible hybrid work options has helped with the retention of women in the business and is a testament to our ongoing commitment to foster a fair and equitable workplace”.
Additionally, the firm has provided personal potential plans for all staff. These plans are customised to each individual to give them a pathway to succeed.
“We have a commitment that we really want to raise the whole workforce, to demonstrate to everybody that we really care about them as an individual,” concluded Hoffmann.
Andrew Hoffmann and Jane Fenner
