The main objective of commemorating National Equal Pay Day is to highlight and address the gender gap that adversely affects economic security and contributes to wage disparities faced by women, particularly women of color. As per various reports, in over 90 percent of employment positions, women earn less than their male counterparts, emphasizing the urgent need for action to achieve pay equity.
This blog discusses how the gender gap impacts women’s economic security and how we can address gender inequalities across different sectors and occupations.
What is the gender pay gap?
The gender pay gap refers to the difference in earnings between men and women in the workforce. This gap persists across many industries and job levels, often with women earning less than men for similar work. It’s a complex issue influenced by various factors such as occupational segregation, discrimination, caregiving responsibilities, and negotiation dynamics.
Women working full time or around a year are paid 84 cents on average for every dollar paid to men. The pay gap is the systemic barrier women have long faced regarding paying Jobs and Opportunities. Additionally, the responsibilities of families, caregiving, and aging family members appropriately fall on women, which leads to leaving jobs, cutting hours, and skipping work.
Thus, this day reminds us of the persistent gender wage gap and ensures equity and fairness in compensation.
Why does the gender pay gap persist?
The gender pay gap occurs across all industries and organizations, and in comparison, to all occupations, women holistically receive fewer wages when compared to men. For example, women working as physicians and surgeons are paid less annually than if paid the same as men in that occupation. The male-dominated industries tend to have higher packages than the majority of female occupational workers receive.
Equal pay counts – What can companies do to make this happen?
Organizations can take reliable steps to make employers get paid equally. Some of them are as follows:
- Reducing unconscious bias and structural barriers by reviewing and hiring promotional processes.
- Contributing equal pay efforts to lengthen enterprise-wide equality initiatives.
- Ensuring employees freely communicate about wages without hesitation or retaliation.
- Enabling pay and compensation according to the candidate’s abilities, experience, and skills.
- Conducting regular, comprehensive gender pay analyses across occupations.
As an individual, how can you explore paying equity for yourself.
If you fear that your compensation could be better, the first step is to assess your organization’s commitment to pay equity and transparency. This will help you measure the potential risks.
Here is a list for you to consider some actions:
- Volunteer with your manager to review your compensation to ensure equity with people in similar positions.
- Inquire whether your organization engages in pay equity audits. If so, ask for a review of compensation.
- Address male colleagues in equal roles if willing to share their compensation data.
Thus, collectively taking action and raising our voices can create a more equitable future.
Conclusion
By addressing systemic barriers and empowering women by promoting transparency, we can create a society where every person is compensated fairly for their offerings, regardless of gender. Therefore, we can make a future that embraces equality in every aspect.
At Capleo Global, we ensure that you receive comprehensive services despite gender bias, which includes operational excellence regardless of your company’s scale or industry. Our Global Workforce Solutions are crafted to align with your distinct requirements.