Westpac CEO Anthony Miller publicly wants to be #1 on all of Westpac’s performance measures, but shamefully the only thing he’s #1 on is the gender pay gap… It’s a whopping 29.3% – the worst across the big four banks.
That’s why our FSU Representatives Isy Fish and Penny Stefanou called him out on it at Westpac’s AGM last week.
Last year, former CEO Peter King claimed that Mr Miller would set targets to improve the gender pay gap in his new role as CEO. Mr Miller’s response regarding said targets?
“I’ll have to get back to you.”
This from a CEO whose gender pay gap is costing women at Westpac almost $1 billion a year. That doesn’t sound like a CEO with a plan.
He did, however, commit to following up with an answer.
If Westpac genuinely wants to be #1 then Mr Miller needs to address the woeful gender pay gap now, not continue to shove it under a rug as he has been. Setting targets – and knowing what they are – is the bare minimum he could do.
We’ll let you know what Mr Miller says.
We also asked the board to explain how the bank is investing in and upskilling employees to deal with technological changes, rather than defaulting to job cuts.
Mr Miller’s response did not go far enough. He committed to engage further with our union, but failed to commit to providing job security and upskilling affected employees as the first priority.
Earlier this year, Westpac committed to establish a $5 million ‘capability fund’ to support existing retail staff to upskill for the future.
Retail management have committed to talk with the FSU about the detail. We will continue to push Westpac to provide genuine opportunities for affected workers so that no worker is left without a job.
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