The importance of facing into the Gender Pay Gap

What is the gender pay gap?

The gender pay gap is the difference in average earnings between men and women in the workforce. It is often expressed as a percentage of men's earnings and reflects the overall difference in wages and salaries between men and women.

In the United States, women make 81 cents for every dollar men earn. This gap widens even further when it comes to executive positions and higher-level roles.

The gender pay gap is rooted in both historical and structural factors.

Women have traditionally been paid less than men, even when performing the same job duties and roles. Additionally, due to issues like the motherhood penalty, where women are often penalised for taking time off for childcare or family obligations, and the fact that childcare costs can place an additional financial burden on women’s households, many women can’t afford to work full-time or pursue higher-paying jobs. This keeps them from earning an equal wage as their male counterparts. 

Even though the Equal Pay Act was passed in 1963, the gender pay gap still exists today and must be addressed to ensure accurate economic equity for all genders.

How does the gender pay gap impact women?

The gender pay gap is between men's and women’s average earnings. Women are paid less than men for the same or equivalent work, which can significantly impact their lives.

According to research conducted by redwigwam, women in the UK face a gender pay gap of 19.5%. This wage discrepancy means that women are more likely to be trapped in lower-paid, dead-end jobs with fewer opportunities for career progression.

Women also experience a “motherhood penalty” when taking maternity leave or other caring responsibilities. The flexibility offered by part-time work often leaves women at a disadvantage regarding pay and promotion prospects, making it harder to get ahead in their careers.

Women are also hit hard by rising childcare costs, which can reduce their ability to work full-time and access higher-paying roles.

These factors all contribute to the gender pay gap and make it harder for women to achieve equal pay with their male counterparts.

This inequality has far-reaching economic and social implications, creating a cycle of disadvantage that is hard to break out of without intervention from employers and policymakers.

It is essential that we face the gender pay gap if we want to achieve true equality in the workplace.

What can be done to close the gender pay gap?

Closing the gender pay gap is essential for creating a more equitable society and economy.

Here are a few steps which can be taken to narrow the gender pay gap: 

1. Ensure equal pay for equal work. One of the most effective ways to close the gender pay gap is to ensure that women and men are paid equally for the same job. This means companies must have transparent and fair salary scales, with no discrimination based on gender.
2. Remove the motherhood penalty. The “motherhood penalty” is the phenomenon of women experiencing negative impacts on their careers and earning potential when they become mothers. To close the gender pay gap, employers must provide flexible work schedules, paid maternity and paternity leave, and accessible childcare options so that mothers can maintain their professional lives and earn equal wages. 
3. Reduce the burden of childcare costs. Childcare costs are one of the biggest financial burdens women face, often preventing them from taking full-time jobs or progressing in their careers. To address this issue, governments should provide generous subsidies or grants for families to make childcare more affordable. 

These are just a few steps that can be taken to close the gender pay gap and ensure that women receive equal pay for equal work.

With commitment and action from employers, governments, and individuals, we can create a fairer, more equitable world where everyone is valued and rewarded equally.