Gender Discrimination persists in multiple fields in our life, and its prevalence in business is undeniable. Not only does it affect a company or a single firm and its reputation, but it also affects the morale and mental health of employees.
Although the workforce today comprises nearly 50% women, they are only paid 79 cents on every dollar earned by a man. While this has been a significant rise in the comparative pay for women, equal pay is expected and required today as society evolves.
Millions of women have joined the workforce, and the pay gap symbolises both discrimination and the rigidity of society as it failed to adjust and provide equal pay to everyone. Even though women dominate several industries, it is undeniable and unfortunate that a man would receive a higher salary with lower qualifications in the same position. This regressive mindset has only been fuelled further by the ignorance of employers and firms as a whole.
Of course, some consequences arise due to this inequality, and it primarily affects work culture and the firm’s performance. However, this pay gap is not always a signal of unlawful discrimination in a company. While discrimination would mean creating a wage gap solely based on gender, these companies have several other criteria while determining wages. This protects the company from gender discrimination lawsuits as well.
This gap doesn’t exist in only developed countries; it is a global issue. In India, the gender pay gap stands at 19%, where the hourly wage was Rs 242.49 for men but only Rs 196.3 for women. A similar wage gap persists in the United States.
It stems further than gender, too. While a white woman earns less than a white man, a black woman earns 39% less than white men and 21% less than white women. In a world where costs of living increase daily, gender and racial discrimination make things extremely challenging for everyone.
The rigidity of society and corporates makes closing the gap time-consuming and gruelling. Even though the gap has slightly decreased, the population of working women has also reduced. The differences in pay gap are often results of the types of jobs people undertake.
Stereotypically, women take on more administrative, secreterial work and are expected not to have significant roles in a company. In reality, however, women’s power grows exponentially as more and more creative minds step into corporate roles and lead firms and companies.
Many organisations have realised the importance of equality in the workplace because these factors affect workers’ performances on the field. Many of these companies have selfish interests in terms of profit and productivity. Still, several organisations are determined to bridge the gap and ensure that their company is not like the others: self-serving with no interest in the external cost. This philosophy of wanting equality in one’s firm is what truly drives a company to be inclusive and fair to all employees, contributing in its own small way to eliminate the gender wage gap.
