What is the current gender pay gap?

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As of 2021 the most recent figures place the average woman’s earnings at around 80% of the average man’s, though this varies significantly between occupations.

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Herein, how can we close the gender pay gap?

Here are 9 steps every company can take to close the gender pay gap.

  1. Recognise that the pandemic shifted the balance in a negative way. …
  2. Mind the gap – don’t ignore it. …
  3. Stop asking what people currently make. …
  4. Diversify your interviewers. …
  5. Transparency in pay. …
  6. Conduct pay equality audits. …
  7. Invest in female leadership potential.
One may also ask, how many years will it take to close the gender pay gap? Achieving global gender parity will take an extra 36 years because of the coronavirus pandemic, a World Economic Forum (WEF) report said. Previously, in the Global Gender Pay report 2020 (published 16 December 2019), the WEF estimated that the gender pay gap could take around 100 years to close.

Keeping this in view, what are some arguments for closing the gender pay gap?

Closing the gender pay gap will benefit women, and may also bolster business performance, strengthening the global economy (Noland, Moran, and Kotschwar, 2016). Women’s lower earnings perpetuate gender inequality, decreasing their independence and bargaining power (Wodon and De le Briere, 2018).

When did the gender pay gap start?

Unequal pay is when women are paid less than men for doing the exact same work. Equal pay has been a legal requirement since the Equal Pay Act was introduced in 1970.

1 Related Question Answers Found

Who works more hours male or female?

But this gap doesn’t take into account the fact that on average, men work more hours than women. According to U.S. census data, men spend an average of 41.0 hours per week at their jobs, while women work an average of 36.3 hours per week.

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