Updated as of 26th February 2024
This statement supplements the gender pay gap data published by the Workplace Gender Equality Agency (WGEA), providing further context on the ESR Australia data and our commitments to achieving equality in the workplace.
Following the establishment of ESR Australia in 2018, our business has grown to approximately 130 employees today. Our workforce has been shaped through the acquisition of four existing businesses and currently comprises 42% women, having increased from 21% women over the past four years. As a property developer and manager operating predominately in the industrial and logistics asset class, the workforce in our sector has historically been comprised substantially of men.
Whilst equal pay exists for women and men performing the same role at ESR, our workforce comprises a disproportionately lower number of women in middle to senior management roles, resulting in a gender pay gap when comparing the difference in “average” earnings between women and men across the entire workforce.
As reported by WGEA, for the year ended 31 March 2023, ESR Australia had a median base salary gender pay gap of 43.4%, versus an industry benchmark of 31.9% (for non-residential property operators – comprising multiple asset classes). Similarly, ESR Australia had a median total remuneration gender pay gap of 43.1%, versus an industry benchmark of 33%.
Embracing diversity and inclusion is one of ESR’s key organisational values. To drive an increase in the number of women in middle to senior management roles, and therefore reduce the average gender pay gap, ESR is taking a number of actions, as outlined below.
Family Friendly Workplace
Paid parental leave for primary care givers (both female and male) increased from four to five months in October 2023
Option to purchase two weeks additional leave each year
Access to flexible working options, including the ability to work up to two days per week from home
Kids at Work events hosted in both our Sydney and Melbourne offices
Parents at Work membership – providing expert insights and resources to build a family friendly workplace
Parental transitions support program – scheduled for implementation in 2024
Attracting & Developing Female Talent
Intern and scholarship programs, involving the recruitment of six female interns to date
Women in Industrial (WIN) membership. WIN is an industry body established to attract greater diversity into the industrial and logistics sector
Property Council of Australia (PCA) 500 Women in Property participants. This program assists in promoting female talent and empowering women to advance in their careers
Recruitment partner briefs requiring the inclusion of top female talent on all candidate short-lists
Key talent and succession planning programs, involving a gender specific lenses of review
Awareness Events & Policy Framework
International Women’s Day events – internal and external forums providing career insights and advice from inspiring female role models
Diversity, Inclusion & Equality policy implemented in March 2023
Prevention of discrimination and harassment training mandatory for all employees
Annual remuneration pay equity review, ensuring equal pay in like for like roles
Unconscious bias awareness training - scheduled for implementation in 2024
ESR is committed to progressing our action plan to promote equality in the workplace and reduce the gender pay gap. Subsequent to submission of WGEA reporting, ESR Australia’s gender pay gap has continued to trend downward, currently sitting closer to the industry benchmark of 30.9%.