What is the Gender Wage gap?
The gender wage gap refers to the difference in earnings between women and men. Experts have calculated this gap in a multitude of ways. Still, the varying calculations point to a consensus: Women consistently earn less than men, and the gap is wider for most women of colour. According to the UN, women are paid less than men across all regions, with the gender pay gap estimated at 23 percent globally. The gender wage gap exists for every age group and widens over a woman’s lifetime. Gender wage gaps exist in all countries, and it represents one of the most persistent barriers to achieving gender equality.
Gender equality and women empowerment continue to be held back due to the persistence of historical and systemic unequal power relations between women and men, poverty, limitations in access to resources and opportunities. Therefore, limiting women’s capabilities.
Progress on narrowing that gap has been slow. While equal pay for men and women has been broadly endorsed, applying it in practice has been difficult. At the rate we are progressing, it will take the next 257 years to close the global gender pay gap.
Globally, women are concentrated in lower-paid, lower-skill work with greater job insecurity along with being under-represented in decision-making roles. Women also face greater constraints in balancing paid work and family responsibilities. Restrictive policies, such as inflexible working hours and limited parental leave, can impede their mobility in the workforce and force them into part-time employment. All around the world, women carry out at least two and a half times more unpaid household and care work than men.
Where you live and what you do can also impact your personal pay gap.
The gender pay gap varies around the world due to factors such as: -The primary industries in the region and the opportunities they create -Demographics such as race/ethnicity, age, religion, sexuality and education level -Regional differences in attitudes and beliefs about work and gender -Differences in the scope and strength of regional pay discrimination laws and policies
What needs to be done to increase pay equity?
Company/Organizational Responsibilites:
-Conduct annual pay audits -Ensure that hiring and promotions are fair -Increase of pay transparency -Make sure women have equal opportunities for advancement -Improve workplace flexibility
-Bias and Discrimination Trainings
Legislation:
-Laws that mandate equal pay for equal work
-Legal frameworks that ensure stronger representation of women on company boards
-Policies that support increased involvement of women in management and decision-making positions.
Family and childcare policies:
-Flexible work hours
-Remote vs. in-office flexibility
-Childcare support
-Parental leave
