SINGAPORE: According to a report released on Friday, May 10, by the Ministry of Social and Family Development (MSF), the gender pay gap in Singapore has been reduced recently, and more women are now holding leadership positions.
This report represents the first comprehensive analysis of women’s development since the White Paper’s release in March 2022. The White Paper included 25 action plans in important areas, such as workplace equity.
The unadjusted median gender pay gap in Singapore for full-time resident employees aged 25 to 54 decreased from 16.3% in 2018 to 14.3% in 2023, per MSF’s report.
The report stated that occupational differences are a major contributing factor to the gender pay gap. In 2023, the adjusted gender pay gap is expected to be 6% when comparing men and women with similar characteristics regarding age, education, occupation, industry, and typical hours worked.
The study also discovered that there has been a steady improvement in the representation of women in leadership positions across the public, private, and human sectors.
In collaboration with the Council for Board Diversity, the government aims to enhance the percentage of women serving on the boards of the top 100 Singapore Exchange (SGX) companies to twenty-five percent by 2025 and thirty percent by 2030. Additionally, as soon as feasible, it has set goals to reach 30% of women on statutory boards and the boards of the top 100 charities.
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