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We are now existing with COVID-19 for almost an entire year. Lockdowns are no longer a novelty, plus the assumptions I may have had regarding why the global pandemic could affect women have been thoroughly kicked to the gutter. When we were initially told to work remotely, our first thought was one of hope. If then both parents, and obviously here I am referring to households with two employed parents, weren’t leaving, then probably this will reorient the house work plus childcare tasks? That we could see a change as now both took those tasks upon themselves equally.
Was I wrong.
The covid-19 era far from becoming a adequate equalizer has pushed women not only out of the workplace but is additionally affecting them more significantly. As observed in the World Economic Forum’s document Women in the Workplace 2020, at year end of 2020, millions of females were considering leaving the their jobs for good.
Elsewhere, a British report found that females are 1.5 times more likely than men to have either lost their employment or resign since the pandemic started. Minorities and women of color are even more negatively affected. The report observes that “compared with women overall, Latinas are more likely to be concerned about layoffs and furloughs. And LGBTQ+ women are almost twice as likely as employees overall to claim mental wellness as one of their largest issues during the pandemic.”
One of the main reasons for these harsh job loss numbers? McKinsey?’s study found that women’s employment are 180% more at risk to the pandemic than men’s. One cause for this is that so many females are working in verticals decimated by covid-19. The hospitality sector employs more females than men.
It is not just in the economic area that women are suffering. Studies from the United Nations shows an upsurge in calls to domestic violence helplines around the globe. Why pay parity is more critical than ever
However, there is another issue at play here. Frequently the main reason a woman is the one to give up her employment is entirely economic. Who makes more money? When https://telegra.ph/Is-On-Demand-Payroll-a-System-in-the-Future-09-29-2 are employed, it is common sense for the person with the higher earnings to stay at their job and the other one to leave. Here is where the problem starts since, as we all know, the level of earnings inequality is overwhelming.
Observing the most recent data, in 2020, women make merely $0.81 for each dollar a man made. The managed gender pay gap, that ponders metrics such as job title, length of experience, industry, and location, discovered that women make $0.98 for every $1 a man makes. While inside this controlled data, the largest gap is between the pay of black women and Caucasian males. As noted in the publication, black women make $0.97 for every dollar a white man with the same qualifications is paid.
At initial glance, this seems to suggest that the differential in earning power is relatively low when you show like with like. However, it’s more nuanced than that, and that is why it needs our focus. While men and women at the equal level may get similar pay, the problem is that there is strong evidence that men get promoted at a quicker pace than women. The further up the corporate ladder the higher the salary, and there lies the challenge. This is why it is not merely the salary that we need to consider ? by calculating presumptive raises given across a 40-year employment, women stand to lose $900,000 on average over a lifetime.
Studies show that when women have kids it adversely impacts their earning potential. The so-called “Motherhood Penalty” leads to working mothers being seen as less devoted to their employer and requiring a more accommodating schedule. Statistics show that the pay gap is substantially higher for women with kids. Why payroll analytics can enhance visibility about gaps in your organization
Whilst several issues add to pay inequities, one of the ways to address it is by finding where the gaps are and then searching to repress the gap. Several employers are not aware that there exists is a difference. A part of the issue is a lack of information, a lack of knowledge around existing pay scales. In a 2020 publication, we see that over half (56%) of those studied claimed their employers don’t have a formal process to fight pay equity, while 70% do not use salary structures to manage payroll.
To battle this information disparity, and as part of their offering for customers who are located in the UK, Immedis created a robust report that clearly shows the way an organization pays its employees based on gender and age.
From measuring the issue, organizations can make informed decisions about how to change and get payroll equity. As well as the country by country data, Immedis also provide international data for Gross and Net pay. Why it’s important to track data
Apart from the fact that it is a legal mandate in the UK, there’s also the existing bias we have towards tangible proof. In short, people demand proof. Without reports and comprehensive analyzing, it’s easy to assume that everything is fine and that you are doing the right thing by your workers. With the information, companies can get a better knowledge about how they are paying their employees and if there are any glaring differences, which they can then address.
