St Barbara Ltd
St Barbara has implemented a systematic and sustainable approach to reduce the pay equity gap. Six years ago the human resources (HR) practices at St Barbara were transactional, consisting mostly of recruitment with no linkage to the business strategy. A remuneration strategy did not exist and the pay equity gap was a staggering 43%.
From a standing-start in 2007, St Barbara now has in place a HR Strategy that is hard-wired to the company’s business strategy and approved by the Board. The success of each of the six strategic HR priorities is underpinned by diversity. To support these priorities a comprehensive Talent Management Framework has been implemented. Consistent with the strategic HR priorities, in respect of gender diversity, St Barbara now has:
- a competitive and effective remuneration system
- industry-leading parental leave provisions including attractive return to work incentives
- a gender diversity policy
- robust gender diversity targets to measure success.
These initiatives are approved by the board, led by the executive leadership team, and reviewed regularly by the board. The gap has reduced from 43% in 2007 to 15.9% in 2013.