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We are all now existing with COVID-19 for almost an entire year. Locking down is no longer a unique occurrence, and any assumptions many might have had regarding why the global pandemic could affect women have been resoundingly pushed to the curb. When we were initially told to work from home, my initial reaction was one of hope. If then both parents, and obviously here I am implying that households with two employed parents, were not leaving, then certainly this would reorient the house work and childcare responsibilities? That we could see a shift as now both took those tasks upon themselves equally.

Was I incorrect.

The pandemic far from being a good equalizer has forced mothers not merely out of the workplace but is additionally impacting them more substantially. As noted in the World Economic Forum’s publication Women in the Workplace 2020, at the end of 2020, millions of mothers were considering leaving the employment permanently.

Elsewhere, a U.K. report observed that females were 150% more likely than men to have either lost their employment or resign since the pandemic began. Minorities and females of color are even more highly affected. The report stated that “associated with women in the workforce, Latinas are more likely to be concerned about layoffs and furloughs. And LGBTQ+ females are nearly twice as likely as colleagues overall to claim mental wellness as one of their largest obstacles during the pandemic.”

One of the primary reasons for these harsh employment loss numbers? McKinsey?’s analysis observed that women’s jobs are 1.8 times more vulnerable to the pandemic than men’s. A cause for this is that many females are working in industries gutted by the pandemic. The hospitality sector employs more women than men.

It’s not just in the economic area that females are suffering. Studies from the UN shows an upsurge in reports to domestic violence helplines across the globe. Why payroll equality is more critical than ever

Yet, there is an additional issue at work here. Many times the main reason a woman is the one to relinquish her employment is entirely economic. Who makes more money? When both parties are employed, it makes sense for the person with the higher earnings to stay at their job and the other person to leave. There is where https://diigo.com/0u2ywr begins because, as we all are aware, the amount of earnings inequality is astounding.

Observing the most current information, in 2020, females earn merely $0.81 for every dollar a man made. The controlled gender pay gap, that considers metrics like job title, years of experience, industry, and location, discovered that women make $0.98 for every $1 a man makes. While within this controlled information, the biggest gap is between the earnings of African American females and white men. As noted in the report, black women are paid $0.97 for each dollar a white man with equal qualifications is paid.

At first glance, this seems to show that the differential in earning power is relatively minimal when you show like with like. Yet, it’s more subtle than that, and that’s why it requires our attention. While men and women on the equal experience may receive similar compensation, the issue is that there is empirical evidence that men get promoted at a quicker pace than women. The higher up the corporate ladder the higher the salary, and there lies the challenge. This is why it’s not simply the salary that we should think about ? by calculating anticipated pay raises given across a 40-year employment, women will lose $900,000 on average over a lifetime.

Research shows that when women have kids it negatively affects their earning opportunity. The so-called “Motherhood Penalty” leads to employed mothers being seen as less devoted to their employment and needing a more accommodating schedule. Statistics reveal that the pay gap is significantly higher for women with kids. How payroll analytics can enhance visibility regarding gaps at your company

While many issues contribute to pay inequities, one of the ways to control it is by isolating where the gaps are and then trying to close the gap. Many employers are unaware that there exists is a difference. A part of the issue is a lack of data, a lack of knowledge around current pay scales. From a 2020 report, we learn that more than half (56%) of respondents claimed their organizations don’t have an official process to control pay equity, while 70% don’t use payroll structures to manage payroll.

To battle this data gap, and as part of their offering for customers who operate in the UK, Immedis created a robust report that plainly reveals the way an organization pays its workers based on gender and age.

From measuring the issue, companies can make educated decisions regarding how to change and acquire pay parity. In addition to the country by country data, Immedis also offer global data for Gross and Net payroll. Why it’s critical to study data

Aside from the point that it is a legal mandate in the UK, there is also the inherent bias existing for tangible proof. In short, workers want proof. Without reports and robust visualizations, it is easy to assume that all is acceptable and that you are doing the right thing by your employees. With the information, organizations can gain a better understanding about how they are paying their employees and if there exists any glaring differences, that can be addressed.