Fair Pay 2016—Closing the Gender Pay Gap
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What is the gender pay gap? How do you discover if gender pay inequities exist in your company and what can you do about it? Find out now.
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Fair Pay 2016—Closing the Gender Pay Gap
- 2. You may have a gender pay gap problem. www.payscale.com
- 3. You also may not—but figuring it out can be tricky. www.payscale.com
- 4. Let’s get a few things out of the way first… www.payscale.com
- 5. The stat that women earn 78 cents to every dollar earned by men is not a myth. It’s just used out of context or misunderstood… a lot. www.payscale.com
- 6. What it does reveal is that women are severely underrepresented in the best-paying jobs in our society. Some of that is a career choice. Some of it is not. www.payscale.com Source: Payscale.com
- 7. It’s even worse for women of color. www.payscale.com Source: National Women’s Law Center
- 8. When we control for all the major factors that could influence pay outside of gender, the gap shrinks to 97 cents on the dollar — comparing all women to all men. www.payscale.com Source: Payscale.com
- 9. The controlled pay gap looks pretty small, but the devil is in the details. www.payscale.com
- 10. It’s worse for particular types of jobs. www.payscale.com Source: National Women’s Law Center
- 11. It’s also worse as women advance in their careers. www.payscale.com Source: Payscale.com
- 12. How is it possible that women are so underrepresented in the most senior positions at companies, when women make up nearly half of the US labor force and attain a higher percentage of college degrees? www.payscale.com Source: Catalsyst.org
- 13. It’s because women “opt out” of a career track when they become mothers? www.payscale.com Source: Harvard Business Review
- 14. www.payscale.com Actually, according to women, the top reason they leave companies is pay—even more often than men. Source: Harvard Business Review
- 15. As of September 2017, sharing gender pay gap data may no longer be optional for companies with more than 100 employees. www.payscale.com
- 16. If you haven’t looked at gender pay equity at your own organization, now is the time. www.payscale.com
- 17. www.payscale.com Whether your motivation is legal compliance or a sense of fairness, analyzing gender pay equity needs to be a priority.
- 18. It’s not just the right thing to do. It’s also good for business. www.payscale.com Source: Payscale.com, Wall Street Journal
- 19. www.payscale.com If you don’t like what you find, remember that no one introduces pay inequities intentionally—it happens when you’re not looking.
- 20. Any company could have a gender pay gap they’re unaware of. It’s time you take the LEAD in solving it. www.payscale.com Look for potential pay equity issues. Evaluate the issues, talk to managers, determine the rationale for any discrepancies. Fair isn’t always equal, but fair should be defensible. Act. Think strategically about how to best address a potential pay gap in your organization and determine the best approach to correcting it. Discuss solutions.
- 21. To learn more, visit PayScale’s Fair Pay Hub