Posted: January 4, 2020
Submitted by: https://www.topchro.com/
Is the Gender Pay Gap Narrowing?
There occur systematic gender differences regardless of one’s socioeconomic class. The degree of inequality may vary across countries and over time, but gender inequality is a characteristic for most of the societies’ where males are better positioned in social, economic, and political hierarchies.
As a welcoming note, the reduction in gender inequality is holding a prominent place in the national strategy and international organizations, for a decade.
According to the World Economic Forum, Iceland remains the world’s most gender-neutral country. The gender gap narrowed to 99.5 years in 2019 as against 108 years in 2018. Still, it means parity exists between men and women across education, health, work, and politics.
Where do we stand today with reference to gender parity? This infographic by TopCHRO on – “Is gender diversity keeping you up at night?” explores the pay disparities between men and women who have the same qualification and does the same job.
‘We believe when we make space for diverse voices, we make space for innovation and creative thinking’, says Chatella Lynch, SVP and CHRO, McAfee.
If we observe the progress over the last few years, they can be chalked out as follows.
There is a notable improvement in the representation of women in the C-suite of their career (say, >24 percent).
However, the representation of women at managerial level and based on color is less than five percent. On a high note, more than 13 percent point (pp) companies are committed to gender diversity, senior leaders’ accountability increased to >18 pp, and sponsorship for women candidates have raised by >8 pp.
To continue, no change was observed in the mentality where women felt that gender was a barrier to advancement or microaggression toward women. The provision for working from home has increased to >30pp and employees in dual-career couples account for >8pp.
If we consider the pay gap during the year 2019, it is found that women earned 79 cents for every $ man earned irrespective of education, positions, location, seniority, and years of experience. And, it is 98 cents for every $ man earned while having the same positions and education. This is the harsh reality of 2019.
At the global level, the percent of women feeling that they get paid less remains more or less the same, i.e., between 18-19% whether they are American Indian, Alaskans, African, Asian, Hispanic, Native Hawaiian and other pacific islander women. 19 percent of white women and 24 percent of white men agree to the fact that women get paid less.
Moving forward, organizations are adding more women to C-suite positions and there is a significant commitment to the gender diversity in the year 2019 (refer graph) as compared to 2015.
Read on to know more, how gender bias can get culminated at the work front.
Bridge the Gender Bias Gap at Workplace
• Establish an evaluation criterion
• Let the evaluators pass through unconscious bias training
• Make diverse hiring and promotion slates
• Put more women in line for promotions to managerial level
• Get more women into first-level management
When this gets implemented, women may have more peaceful nights.
Original Post: Is the Gender Pay Gap Narrowing?