How to fix the gender pay gap

It’s a posh challenge, which is a part of the purpose it’s so exhausting to clear up and difficult for many individuals to perceive. On the newest episode of The New Method We Work, I spoke to Maria Colacurcio, the CEO of Syndio, an HR Analytics firm targeted on selling equity in the office. She broke down the distinction between pay gap and pay fairness.

The pay gap, she defined, is a comparability of incomes between two teams (often women and men however there’s additionally a notable gap between Black girls and white girls, as an example). The gap is larger as a result of males have a tendency to be in increased paying or increased stage jobs than girls.

Pay fairness compares teams in comparable jobs. Mainly: How are individuals being paid which can be doing comparable work? That’s the struggle for equal pay for equal work.

The problem of unequal pay will get difficult as a result of not solely are jobs which can be historically held by males increased paying, however even when women and men are in the identical roles we have a tendency to pay teams of males greater than girls. For instance in nursing, which is a predominantly feminine subject, male nurses have a tendency to make on common about $6,000 extra per yr than feminine nurses. And when girls enter extra profitable paying fields, the pay for that career drops.

There are numerous different elements that additional complicate the challenge on unequal pay, together with bias in negotiation, and the mommy tax. And the dangerous information is that the pandemic has reversed over 25 years of progress towards extra gender fairness, by some estimates.

Colacurcio breaks down how to tackle every of those points together with options that enterprise can put into motion to not solely tackle the pay gap and pay fairness, but in addition construct a tradition of belief.

Pay attention to the full episode right here:

You may hear and subscribe to The New Method We Work on Apple PodcastsGoogle Podcasts, Stitcher, Spotify, RadioPublic, or wherever you get your podcasts.