4 reasons why equal pay is important in a workforce.

4 reasons why equal pay is important in a workforce.

4 reasons why equal pay is important in a workforce.

Every day, everywhere women face discrimination. Discrimination is also the product of bias – a negative or pre-formed decision.

Let's start by looking at the potential for discrimination. An example of wage disparities in daily life between genders and races. There is wage disparity in the workplace at times. An example of discrimination based on gender pay is when a female employer pays less for the same job than a man.

 

What is equal pay?

Equal pay is the right to the same salary as someone doing work of equal value to you, the same or a broadly similar job as you or work that a job appraisal report has classified as "of equivalent value." Sometimes, but not necessarily, this is a gender issue.

For every dollar, a man earns, on average a woman is paid 54 cents. According to the World Economic Forum, based on today's pace of change, it will take 202 years for this gap to close. As this map of the major OECD economies shows, the divide is playing out across the globe.

 

Why do women feel the need to change their careers?

To have more time for motherhood and childcare while their children are young, women frequently choose to move to part-time jobs or to step out of a career promotion course. If they return to work full-time, relative to the salary they would have gained if they remained in their original employment, they are frequently forced to accept a lower wage.

Here are four reasons why equal pay is important in the workforce.

1. While many women invest in higher education at the same time and resources as their partners, they often don't earn the same salary. A woman with a bachelor's degree or above can lose $713,000 throughout a 40-year career, according to a CAPAF study. Women need an opportunity to continue investing in higher education because of a fierce global workforce.

2.Worldwide, women only make 77 cents for every dollar earned by men.

As a result, wage gaps between men and women remain in life and more women are in poverty. One of the most productive and rapid ways to reduce gender pay disparities is using minimum wages and universal social security. Both low-paid employees earn minimum living salaries. Given the overrepresentation of women for low wages, it will typically be of greater benefit to women. To fix its stagnant gender wage gap of 2,4%, Germany has recently adopted a national minimum wage.

3. Eliminating the gender wage gap can add between $12 trillion and $28 trillion to global GDP by 2025. This is a serious incentive to equalize pay between men and women.

4.The wage differential is widening as men and women get older. Research by the National Institute of Pension Protection in the USA has shown that the wage gap for women was 44% higher by the age of 80 and that females between 75 and 79 years of age are three times higher than men.​​​​​​​

In conclusion, It’s time we take a stand for women. we need to fight the good fight, together. Shejobs, an online job portal believes that women should be paid equal to men. Shejobs is a community that promotes diversity and inclusion. Shejobs believes we can unleash the profound potential of the global economy if women are free to live up to their economic potential.

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