Getting Real: How to Build a Gender Equity Strategy That Delivers Value

"Gender diversity is correlated with both profitability and value creation." 

(McKinsey, 2018)

For years, research like this has made the business case for gender equity clear. Every step forward has strengthened businesses, sparked innovation, and built more inclusive workplaces.

Now is the time to build on that momentum.

For Australian businesses, April is when we measure the progress we've made toward creating more equitable workplaces.

Organisations with 100 or more employees in Australia must submit an annual WGEA report (1 April – 31 May) covering workforce composition, pay equity, promotions, parental leave, flexible work, and policies on gender equality and harassment prevention. The report includes a workplace profile (quantitative data), a questionnaire on policies and practices (qualitative data), and a CEO-signed compliance declaration.

To ensure a smooth WGEA reporting process, organisations need a Gender Equity Strategy that not only meets reporting requirements but also drives meaningful, long-term progress toward workplace gender equality.

A Gender Equity Strategy is a structured plan that helps organisations align workplace policies, culture, and practices with reporting requirements and broader gender equality objectives.

If that sounds daunting, don’t worry. This step-by-step guide will help you move from good intentions to real impact.

Step 1: Connect Gender Equity to Business Success

A Gender Equity Strategy isn’t a compliance tool, it’s a business growth strategy. When embedded into an organisation’s broader strategic plan, gender equity becomes a driver of innovation, profitability, and long-term success.

Research shows that companies with higher gender diversity in leadership consistently outperform their competitors. A Harvard Professional Development study found that organisations with gender balanced executive committees achieved a 47% higher return on equity (Harvard, 2023). Similarly, Forbes reports that increasing gender diversity in businesses can boost profitability by up to 63% (Forbes, 2023).

A well-integrated Gender Equity Strategy supports:

✔️ Stronger financial performance: diverse teams drive better decision-making and innovation, leading to higher revenue.

✔️ Talent attraction & retention: businesses known for equity and inclusion attract top-tier talent and reduce turnover.

✔️ Market relevance: gender-diverse businesses better understand and serve diverse customer bases.

✔️ Risk mitigation: embedding gender equity reduces workplace discrimination risks and strengthens compliance with WGEA and other regulations.

🎯 Action:

• Link gender equity to business goals, such as innovation, retention, or customer engagement.

• Engage senior leaders by showing the commercial impact of diversity.
  

Step 2: Get Real About Where You Are Today

Before setting ambitious gender equity goals, it’s important to understand where your organisation currently stands. This involves analysing existing data, identifying trends, and pinpointing areas that need improvement. Businesses can use a combination of WGEA reports, internal workforce analytics, and employee feedback to get a clear picture.

Key areas to examine include:

✔️ Gender representation across all levels of the organisation

✔️ Pay gap analysis 

✔️ Recruitment and promotion data 

✔️ Workplace culture insights through employee feedback.

🎯 Action:

• Use WGEA reporting requirements as a framework for analysing gender equity gaps.

• Gather employee insights through surveys and focus groups to understand lived experiences.

Step 3: Set Clear and Measurable Goals

Many organisations express support for gender equity, but broad commitments alone won’t drive real change. A clear strategy with measurable goals helps track progress and ensures gender equity is meaningfully integrated into business priorities. By setting specific targets and regularly assessing outcomes, organisations can move beyond statements to create lasting impact.

Create specific, measurable goals:

✔️ “Close our gender pay gap within two years.”

✔️ "Increase the percentage of non-birthing parents taking parental leave by 50%"

🎯 Action:

• Set SMART gender equity goals that align with business priorities.

• Hold leaders accountable by linking diversity goals to executive performance.

Here's an example:

• Specific: Increase the number of non-birthing parents (including fathers, adoptive parents, and partners) taking paid parental leave to support workplace gender equity and shared caregiving responsibilities.

• Measurable: Ensure at least 50% of eligible non-birthing parents take a minimum of four weeks of parental leave.

• Achievable: Implement policies that offer equal paid parental leave for all parents, actively promote uptake through leadership role modeling, and provide manager training on supporting employees taking leave.

• Relevant: Encourages a more balanced caregiving model, reduces gender bias in career progression, and supports overall workplace equity.

• Time-bound: Achieve this target within two years, with biannual progress tracking.

Step 4: Take Meaningful Action

Building a workplace where people want to stay and grow requires genuine action. Employees value organisations that prioritise diversity, fairness, and inclusion in everyday culture. Meaningful change happens when businesses invest in mentorship, leadership development, flexible work, and clear career pathways, creating a workplace where everyone can succeed and feel valued.

To create change, move beyond policies and into tangible initiatives:

✔️ Unbiased hiring: Use structured interviews and gender-neutral job ads.

✔️ Leadership accountability: Tie diversity goals to executive bonuses.

✔️ Pay equity: Conduct regular pay audits and publish results.

✔️ Workplace flexibility: Offer hybrid work, job-sharing, and equal parental leave.

🎯 Action:

• Focus on three priority actions rather than tackling everything at once.

• Regularly assess progress and make adjustments as needed.

  
  

Step 5: Make Gender Equity Part of Everyday Culture

An inclusive workplace grows through everyday actions and decisions. When gender equity is part of workplace culture, it fosters engagement, collaboration, and a strong reputation. By weaving equity into policies, leadership, and daily interactions, businesses create a workplace where everyone feels valued and supported.

Gender equity must be embedded into daily operations:

✔️ Educate leaders and employees on inclusive leadership. ✔️ Celebrate progress through real stories, not just stats. ✔️ Hold all employees accountable, not just HR teams.

🎯 Action:

• Report on progress internally and externally to show transparency.

• Keep the conversation going through ongoing training and storytelling.
  

Creating a gender-equitable workplace takes intentional effort, ongoing accountability, and leadership commitment.

The good news? You don't have to do it alone.

The Capability Alliance helps organisations turn gender equity commitments into measurable results.

🚀 Ready to make meaningful change? Let’s build your strategy.

📩 Contact us today to get started.

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