Mercedes-Benz Financial Services Australia is proud to be recognised as an Employer of Choice for gender equality for 10 consecutive years. This tenure demonstrates our continuous commitment and dedication in actively working towards closing the gender pay gap, whilst addressing any disparities. Mercedes-Benz Financial Services Australia remains steadfast in our commitment to fostering a workplace where gender diversity is embraced, and discrimination based on gender is eradicated.
We are dedicated to continuously developing policies, practices, and a work culture that not only celebrate diversity but also aligns with our core company values. As part of this commitment on an annual basis, we rigorously analyse our gender pay gap data to understand and address disparities within our organization.
Our average gender pay-gap from year 2022 to 2023 shows considerable improvements, where it went from 17% to 12%. Despite considerable efforts, from 2023 to 2024, our gender pay-gap increased slightly to 14%. We acknowledge this increase, and it is imperative to clarify that after significant analysis, this increase is a result of the number of females in certain roles with different pay structures.
Whilst we strongly believe this is not solely due to gender bias within our organization, we acknowledge that part-time and casual work is required to support with flexibility and caring responsibilities. Therefore, we are focusing on strengthening recruitment, promotion and retention strategies to ensure diverse representation at all levels of our organisation and across all roles, whilst striking a mutual balance with caregiving responsibilities and flexibility that may be required support our employees.
Led by our female CEO and gender-balanced Executive Committee, we are committed to driving change through targeted initiatives and being held accountable to our Gender Equality Strategy. We are conscious that progress in achieving gender equality is an ongoing journey, and we remain dedicated to regularly assessing, improving, and communicating our efforts to create a more equitable workplace. We believe that by fostering an inclusive culture and implementing targeted strategies, we can continue to make meaningful progress towards achieving gender equality at Mercedes-Benz Financial Services Australia.