“By proactively paying these additional superannuation contributions, we will help make a difference to our employees’ retirement savings and continue to retain the very best talent in this organisation. Ensuring all Australian women and men are financially prepared for retirement is one of the most important challenges facing our community.” – Gail Kelly, CEO of Westpac

The Westpac Group (Westpac Bank, St George Bank, BT Wrap) will pay up to 39 weeks of superannuation to employees in addition to the 13-week full pay +superannuation they already have access to.

It is indisputable that any woman worth a company’s investment will scope around for the best offer. And part of “the best offer” is how committed a business is to offering equitable and exceptional career paths for women.

Westpac’s commitment is an excellent example of how a business can be a magnet for the top female talent, and something that employers can emulate, and compete with.

This article covers some of the reactions to the scheme including:

“…Anne Summers, who ran the Office of the Status of Women during the 80s, told HR Leader: “No doubt about it, the Westpac initiative is a game changer.”

“Nareen Young, CEO of Diversity Council Australia (DCA), said Westpac’s decision to offer over and above the standard requirement should be commended. “Currently, women’s average superannuation payout is half that of men’s, in part as a consequence of having interrupted work patterns due to care-giving responsibilities.”

Get the article here.