Equal Pay Day Highlights the Inequities Women Face in Job Market

• Author: Monica Jackson
• Posted: 2024-08-05

Equal Pay Day was commemorated on March 24, drawing attention to the inequities that women in the workplace face when compared to their male counterparts. According to data from the US Census Bureau, women only earn 82 cents per dollar compared to men. When extrapolated across a larger period of time, this means that females have to work almost 15 months in order to simply make the same amount of money that a man makes in one year.

Looking at this data through a wider lens, the repercussions are even more jarring. According to an analysis of data by the National Women's Law Center, women just starting on their career path will earn over $406,000 less than men in comparable positions over the span of 40 years. This number is based on today's wage gap numbers.

These numbers are even worse for minorities, specifically for Latina and Black women.

COVID-19 and its Effect on Equal Pay

Unfortunately for women in the workplace, the ongoing COVID-19 health and economic crisis have only served to magnify this inequity. While women actually gained one cent on men over the last year, this is primarily because more females lost their jobs in 2020. In turn, this increased the average pay since the bulk of the job losses were spread across women earning lower wages.

Women have been hit particularly hard by the pandemic's economic effects, largely because the industries that they dominate saw some of the biggest job losses. This includes jobs in the fields of education, healthcare, hospitality, and food services. In addition, more women than men chose to leave their jobs in order to stay home and care for children that no longer had the option to attend school in person.

How Companies Can Land Capable Women

The promising news is that more and more companies are taking active steps to recruit and retain capable women to their organizations. These actions can go a long way in encouraging women to stay with their current career trajectory, hopefully helping to make up ground in the wage gap at the same time.

Here are just a few things that businesses can do to ensure that they keep the most talented women on board so that the wage gap continues to shrink.

• Support Child Care - The rising cost of child care is undoubtedly keeping many women at home rather than out chasing their career dreams. Business leaders can encourage more females to step forward if they make it easier for them to find affordable and quality daycare options for their children. Good ideas include providing onsite daycare, stipends for child care services, and referral help. For a working mom, quality, affordable, and accessible child care options can be a driving motivator.



• Support Positive Messaging - Many women feel in danger of losing their jobs or being stripped of responsibilities if they speak out about inequities or stress on the job. The upper management of an organization can set the tone for the entire company by acknowledging the unique challenges that women face rather than demoralizing them. By providing verbal support and giving women the freedom to voice their concerns, the female workforce will feel more empowered and valued.



• Skills and Educational Training - Savvy business leaders understand the importance of being purposeful about providing relevant skills and continuing education training to their female staff. Not only will this advance their skillset, but it will also send the message that you care about their career trajectory.



• Deliver Flexibility - The single factor that most women say they desire in a healthy work environment is a flexible work schedule. Companies can do their part to recruit and retain the top female talent by being proactive about offering flexibility. This means offering flexibility in the number of hours worked per week as well as the opportunity to work from home. One positive development that has come out of the pandemic is that more companies are now understanding how telecommuting can be a viable option for their business model.

These tips are just the beginning of what business leaders can do to support women in the workplace while working to close the gender wage gap.