The Business Council welcomes an improvement in the gender pay gap and remains committed to continuing to reduce that gap, and support greater participation and corporate leadership for women across the economy.
Business Council Chief Executive Bran Black said the Workplace Gender Equity Agency report showed the median pay gap had improved to 8.9 per cent in 2023-24, with larger companies having smaller pay gaps overall.
"It's a great sign that the gender pay gap is improving, but there is still more work to be done to make sure women have equal opportunity across the economy," Mr Black said.
"Larger companies are also seeing smaller pay gaps, which shows how serious corporate Australia is at boosting female participation and access.
"While there has been improvement, the report outlines more work is needed, particularly in male-dominated sectors, senior management roles and occupations with higher average remunerations."
Mr Black noted that greater workplace flexibility would provide benefits for the entire workforce.
The BCA's 'A Framework for Women's Economic Advancement and National Prosperity' report highlighted the importance of attaining greater gender equity in leadership roles and the value of developing and sharing evidence-based best practices to support women's economic advancement.
"My members unambiguously tell me that achieving gender equity and supporting women in corporate roles is critical to retaining a broad view of perspectives, knowledge and talent that they need to be competitive," Mr Black said.
