Today we publish our 2024 Gender Pay Gap Report. This is the second year that Babcock has released the report, in line with our responsibilities under Australia’s Workplace Gender Equality Act and our commitments to transparency and achieving gender diversity in our workforce.
At Babcock, we recognise that having an inclusive and diverse workforce is an essential foundation for a high performing and sustainable business. And acknowledge the important role women play in helping fulfil our company Purpose, which is to create a safe and secure world, together.
To address gender equality, we continue to implement new strategies across all areas and levels of our business to expand our talent pipeline and develop programs and policies to attract, retain and empower women to thrive as Babcock employees.
The report shows that we have made positive progress in a number of areas compared to the previous year. Examples include:
- Improvements in our gender pay gap across all measures.
- A 21.2% increase in the number of female employees, from 259 to 314.
- A major rise in the percentage of females employed in professional or managerial roles, increasing from 59% in 2023 to 82% in 2024.
It is also interesting to note that Babcock has 3.5% more female employees than the defence industry average, and up to 10% more than some of our closest competitors.
Women make up 26% of our workforce and the median base salary gender pay gap is 15.3%, compared to the Australian average of 13.6%.
Our median total remuneration gender pay gap is 19% – marginally above the Australian average of 18.3%.
Our report outlines in detail the reasons for this gap, which is primarily due to our workforce composition of women and men taking up different roles in the business. For example, more women are employed in clerical and admin roles versus men in technical/trade roles.
The data in our report is reflective of our Australian workforce, however the strategies and initiatives we have included relate to our entire Australasian operation.
To read more, download our full Gender Pay Gap Report.