Day 79 – Q 4.Examine the significance of gender pay parity in the work ethic of an organisation.
4. Examine the significance of gender pay parity in the work ethic of an organisation.
एक संगठन के काम नैतिकता में लिंग भुगतान समता के महत्व की जांच करें।
Concern about the gender gap in employee compensation is an important social and business issue. Effective corporate social responsibility requires fair treatment of all employees, regardless of gender. The gender wage gap is real—and hurts women across the board by suppressing their earnings and making it harder to balance work and family.
- Gender inequality is when men and women are treated differently because of their gender. In the workplace, this generally means men earn more money, have more career opportunities, and retain higher job titles than women. However, gender inequality can also refer to employers passing over men in favor of women.
- The gender pay gap is driven at least in part by the cumulative impact of many instances over the course of women’s lives when they are treated differently than their male peers. At a time when parental influence is key, parents are often more likely to expect their sons rather than their daughters, to work in science, technology, engineering, or mathematics (STEM) fields, even when their daughters perform at the same level in mathematics (OECD 2015).
- Further, the long hours required by the highest-paid occupations can make it difficult for women to succeed, since women tend to shoulder the majority of family caretaking duties. Many professions dominated by women are low paid, and professions that have become female-dominated have become lower paid.
- According to a recent study, if 30% of a company’s leaders are women, its net margin will be six percentage points higher than a firm with no women in their executive ranks.
- The equal pay provisions aim to address situations where women are being paid less than men, even though they are carrying out equal work. Paying women less than men is not only unfair, it also has far-reaching implications for society by contributing to the gender pay gap, women’s lower pension contributions and their higher incidence of relative poverty in later life.
- Pay systems that are transparent and reward the entire workforce fairly send a positive message about an organisation’s values and ways of working. Pay is one of the key factors affecting motivation and relationships at work. So it’s important to develop pay arrangements that are not only right for organisation, but reward all employees fairly by providing equal pay for equal work.
- Fair and non-discriminatory pay systems are a legal requirement and good management practice. By tackling unequal pay one can increase efficiency and productivity, as it will help to attract the best employees, reduce staff turnover, increase commitment and reduce absenteeism.
- Equal pay is also a key part of an organisation’s corporate social responsibility. This is increasingly important for many stakeholders, including shareholders, the people one does business with and customers.
- Gender pay can also be ensured through measures like offering more paternity leave, year-round schooling, flexible scheduling, etc.
It’s important for everyone in an organization to play a role in gender aspects, because gender parity can’t be achieved overnight. It won’t work if one just focuses on women at the top. It needs to be ensured that all women have access to the training, experiences and opportunities so that they advance at every stage of their careers.