Recent statistics show that improvements in the gender pay gap have slowed since the pandemic. Today, white women receive 82 cents for every white, non-Hispanic man’s dollar. The disparity is worse for women and men of color, who can receive as little as 57 or 64 cents on the dollar.
But the problems with gender inequity in the workplace do not boil down to a wage gap. Although women have been graduating at the same rate as men for decades, they are grossly underrepresented at the top. Harvard Business Review revealed that there are more CEOs of large U.S. companies named David than are women. Much can be updated to make the workplace more equitable for women, particularly in male-dominated industries like tech and finance.
Now: Equity. What is the difference between equality and equity? A lot! The distinction is most important. Equality provides each individual with the same resources and opportunities. While this sounds nice, not every person is the same. Many individuals require more assistance and aid to achieve as much as any non-disabled, cisgender, white male person can with the same help. Equity recognizes that people have different circumstances, and they must be assisted accordingly.
Companies need to implement equitable practices to avoid systematic bias. It is crucial, especially because a 2021 study from Oregon State University concluded that even a small amount of gender bias in hiring can incur financial losses.
The first step is always education. How can employees and higher-ups make a meaningful change if they don’t know what’s wrong in the first place? Companies should hold workshops and talks led by women on discrimination and implicit bias. And they must use these lessons learned to carry out change throughout all levels of the company.
Fighting small battles is imperative when it comes to change. Paying attention to the work environment with a more keen ear and eye is essential. It’s important to raise awareness through action and not just talk.
Gender bias is implicit in many hiring practices. Things as small as the job description wording can affect who applies and who gets hired. Tools such as skills-based assessments can help hiring teams more accurately scan a more extensive range of people for their best option. This is for the benefit of the company at large. Who wants to hire the wrong person?
Women are less likely to be “taken under someone’s wing,” which ultimately means a disparity in opportunity. Research from Harvard Business Review suggests that mentoring programs foster greater diversity in the workplace. Modern mentoring exercises provide women with a network and community that can help them achieve their goals and feel better connected with their workplace.
Women have had to give up work for personal reasons more times than counted. Whether it be motherhood, financial instability, or wellness reasons, many women require a workplace that meets them where they are. And improving work-life balance benefits everyone. When Swiss insurance company Zurich changed its ads to include six words, “part-time,” “job-share,” and “flexible working,” 20% more women applied.
When the workplace is equitable, everyone wins. A more diverse and genuinely inclusive environment is a more productive and capable one.
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