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Career advice from the world's top Diversity Recruiter & Developer of blkbox.tech
Career advice from the world's top Diversity Recruiter & Developer of blkbox.tech
Career advice from the world's top Diversity Recruiter & Developer of blkbox.tech
Career advice from the world's top Diversity Recruiter & Developer of blkbox.tech
Career advice from the world's top Diversity Recruiter & Developer of blkbox.tech
5 Surprising Gender Pay Gap Statistics Hiring Managers Need to Know In 2021, women still earn less than men for their work—and according to the statistics below the pay gap is getting worse, partly thanks to the pandemic. Gender discrimination, racial discrimination, the devaluation of a women’s work, and lack of benefits are just a few of the many systematic issues working against women on their path to equal pay in the workplace. These long-standing issues were only exacerbated by the COVID-19 pandemic, which set women’s equal pay back even further. Here’s how to better understand the gender pay gap—and five surprising gender pay statistics that all hiring managers need to know. What Is the Gender Pay Gap? The gender pay gap refers to the difference in net pay between women and men. That difference in earnings is calculated in a number of different ways, but the consensus is that women consistently earn less than men, and that gap is wider for women of color and people living intersectional realities, like transgender women or immigrants. What Causes the Gender Pay Gap? It’s important to keep in mind how the wage gap is calculated. It’s calculated to reflect the ratio of earnings for men and women across all industries. Not all calculations are a direct comparison of men and women doing the same work. The way the wage gap is calculated allows experts to take into account multiple factors that influence the gap, including: Differences in Industry When you calculate the holistic pay gap, researchers can better examine how occupational segregation affects the pay gap. Occupational segregation refers to men and women working certain jobs due to gender norms and expectations. Women may tend to work in childcare or healthcare, which tend to pay less, while men might work in manufacturing or IT . That’s why attracting a diverse workforce is so important for your company. Differences in Experience Women carry a disproportionate burden to manage childcare and other unpaid family obligations, and as a result they’re driven out of the workforce. Access to paid family and medical leave makes women more likely to return to work, but not every woman has access to such benefits. Differences in Hours Worked Women may work fewer hours to accommodate for caregiving and family obligations. They’re often more likely than men to work part-time, which means fewer benefits and lower wages. Discrimination and Harrassment Gender-based pay discrimination has been illegal for decades, but unfortunately, it’s still a widespread practice, especially for women of color and people living in intersectional realities. Employers may distribute pay based on previous salary history, which may have been the result of discrimination following women job to job. Much of the reasons behind the gender pay gap revolve around systematic workplace policies that don’t do enough to uplift women and make them feel safe. To fight discrimination, it’s important to have a transparent workplace where women feel as if they can come to managers and HR professionals to speak about issues. Likewise, it’s crucial to have an anonymous whistleblowing system in place to ensure all employees have a secure channel to report issues without fear of reprisal, and sexual harassment training and to help prevent discrimination and harrassment before it happens. 5 Surprising Gender Pay Gap Statistics The global effects of the pandemic have had a serious, damaging effect on women and their road to equality, even with the benefits of remote working . Women earned just 84% of what women earned in 2020, according to a Pew Research Center analysis of median hourly earnings of both full- and part-time workers. Based on those numbers, women had to work an additional 42 days to earn the same amount as men in 2020. Image Source The pandemic had a huge negative impact on the pay gap. Layoffs and lack of child care made many women leave the workforce entirely. In February 2021, the women’s labor force participation rate was just 55.9% , down from 57.9% the previous year, according to the Bureau of Labor Statistics. Women of color and those working in lower wage occupations suffered the most. According to The World Economic Forum’s Global Gender Gap Report, the gender gap grew by more than 35 years in just 12 months. At this rate, it’ll take 135 years to close the gender gap across the world. The gender pay gap is far worse for women of color. According to the U.S. Department of Labor, Black women with a bachelor’s degree make 65% of what comparable White men do. Education isn’t enough to close the pay gap: Black women with advanced degrees earned just 70% of what White men with the same degrees earned. Women’s gross hourly earnings were, on average, 14.1% lower than those of men in the EU in 2019, according to Eurostat .
It is expected that Millennials will make at least three-fourths of the workforce by 2025 . And about half of them are classified as non-caucasian. This means that what we used to label as "minority," will no longer be within the next decade or two. But as early as now, we can see diversity, equity, and inclusion (DEI) is taking the HR world by storm. It is not just because it is the right thing to do, but because it also comes with entrepreneurial benefits. That said, we have listed eight tips to help you create a diverse and productive workplace. Promote Flexibility A flexible work schedule and setup allow you to draw a vast pool of candidates . Plus, it will enable your business to operate 24/7 without incurring that much cost. For instance, you have employees who work 9-5 in Pacific Standard Time (PST). What happens beyond that? If you do not have a flexible work setup, your business is likely asleep after 5:00 PM. You are not providing products and services, and you are not earning. On the other hand, you may have employed people living in Singapore. This will enable you to operate beyond the usual 9-5. The best part? You do not have to increase your overhead and operation cost, as your Singaporean employees are likely working from home. Create Learning and Development Programs Employing non-Caucasians and people with disabilities is one thing. But letting everyone open about cultural differences and inclusion is another. This is where learning and development programs could come in handy. As an employer, here's what you can do: ●Promote professional development opportunities by contributing to employees' proceeding education. The more your employees know the more comfortable and productive they can be. ●Unite employees to outside resource groups, like people with special needs or BIPOC. ●Make sure your leadership team shows diversity as well by hiring and promoting diverse applicants into those roles. Regardless, it's always essential to establish a great example from the top down. Employees take notice when the C-suite is involved in company diversity programs and initiatives. Create Safe Spaces for Employees According to the Department of Economics at the University of Warwick, unhappy employees are 10% less productive . And this can cause more than $300 billion in the US. Thus, it is imperative to make your business a safe and happy place for PWDs and BIPOCs alike. From a leadership standpoint, here's what you can do: 1.Diversify the leadership. According to HBR research, employees are two times more innovative when there are diverse leaders. That's because they have a representation of their target market. 2.Recognize bias. Develop a leadership program wherein leaders can unlearn their prejudice. That way, they can recognize potential and allow a diversified leadership. 3.Practice inclusive leadership . As a leader, you should create a team where all employees can speak up and be heard. 4.Hole leaders accountable . DEI is more than just a checkbox you should tick off. It should be a core value of your business. Recognize and Celebrate Differences This can be as simple as celebrating International Women's Month and participating in Pride marches. But more than that, celebrating differences is about honoring and commemorating cultural holidays. Some excellent examples are St. Patrick's Day, Eid-al Fitr, and Lent. Welcome Different Voices Make communication lines open in the workplace. This is regardless of generation, race, and role. This can be possible by taking advantage of technology. Using instant messaging apps like Slack eliminates the traditional hierarchical structure. That's because the app allows every employee to address the entire company or send a private message to a supervisor. As such, the company is compelled to allow different people to speak up and be heard. Strengthen Anti-Discriminatory Policies Diverse companies should also put anti-discriminatory policies in place. The basic tenets of anti-discrimination policies are that no employees are denied their rights. This includes equal pay and employment opportunities. It also ensures that no one is treated differently just because they look or talk differently. Mind you, 43% of Black employees in the private sector receive less than $300,000 per year . And more of them are in jobs with less opportunity for advancement. Although there are cases that you need to treat people differently, it's because some need support to achieve equality. And it's not to erode them of opportunities. Create a Comfortable Work Environment Regardless of age, sexual orientation, and race, every employee deserves a comfortable workplace. That said, we recommend that you start with providing a clean and comfortable office. At Maid Sailors NYC Office Cleaning , we believe that a clean workplace can boost productivity. That's because there is nothing to distract them from work. Moreover, an office's pristine condition prevents the spread of disease-causing bacteria. Thus, it helps decrease absenteeism in the workplace. When your employees are working at 100% capacity, the faster you can achieve your business goals. Final Thoughts Producing a more diverse workplace is a company-wide endeavor. So make sure that your managers, human resources specialists, and general employees are all on board. And as mentioned earlier, diversity in the workplace is more than just a checkbox that you should tick. It is an enormous and continuous undertaking. Hence, you should tread with an open mind and leave room for growth. Taking the first step will always be the most cumbersome. But the effort of ensuring that your business is DEI-compliant can be rewarding. That's because a diverse workplace is a productive workplace.