Last week, on Tuesday, March 14th, we had another Equal Pay Day come and go. Did your company recognize it? And, if so, did you learn how your organization is contributing to the goal of Equal Pay?
It’s startling to understand that women must work for 15 months to earn what a man earns in 12. This decades long trend seems to holdfast, regardless of these notable changes:
More women now graduate from college than men.
More women graduate from law school than men.
Med school graduates are nearly half women.
…the list goes on…
Why does this trend of unequal pay, regardless of education and merit persist? Chauvinism and unconscious bias contribute (and point to just how important a work culture is) but an economist at Cornell University who has been studying the gender pay gap for longer than the Gen Z population has been alive, says one of the biggest factors here is childcare.
This is not dissimilar from what I discovered in my research during the COVID-19 pandemic. The issue of inequity is directly linked to responsibility. When the responsibility of children is placed primarily on women (both because of biology and antiquated male-focused systems) is it any wonder that women are left earning less? Despite the “women can do it all” mindset, things must change in the home if we want to see them change at work. [And while women can “do it all” and often manage to do so, it takes a toll. And, quite frankly, this ideology is ill-advised considering that the answer, in part, is as easy as a division of labor.]
According to a recent study done by LinkedIn, women hold 32 percent of leadership positions worldwide. The recurring theme, is and will continue to be, a mismatch between education and competence, paired against earnings and title.
While there is a myriad of resources to support women (I’ve crafted some myself) it should not be left to women alone to advocate for themselves. I am of the firm belief that organizations must step up to help bridge both the pay gap, the leadership variance (status and title), and the resources provided to parents in order for change to be reached. My research findings vehemently support this, too.
What might be just one way your organization can work toward equal pay? Annual salary audits are highly encouraged, as is a program to ensure appropriate re-entry for women after maternity leave. Further, intentional promotional pools are essential. (Remember: Those who are up for promotion are more likely to get a higher salary. What does this pool look like? Is it contributing to unequal pay?)
A lot can be accomplished in a year’s time. Set your intentions on how your company* will support women and Equal Pay Day for 2024.
*If it’s not your company, never fear! Get this article to your HR, People, or L&D team leads.