45 - Closing the gap – equal pay for women

Today, we’re talking about equal pay. 

Despite equal pay laws and increasing DEI initiatives across workplaces, women of every race are still paid less than men, at all education levels – and it only gets worse as women’s careers progress. Women in the U.S. who work full time, year-round are paid only 84 cents for every dollar paid to men. And for women of color, that gap is even bigger.

That gap means that women have to work for longer – for some minorities, past their actual life expectancies! – to earn the same as white men. And that has a big impact on women’s health, careers, families, and communities.

We are well overdue when it comes to closing that gap. And we all need to work together if we’re going to close it as quickly as possible.

So today’s panel of guests will be talking all about what women can do for themselves to start to close the gap; how organizations can make meaningful change; the importance of male allyship; and the reality of why men are still paid more than women.

 

IN THIS EPISODE:

 

[01.04] Introductions to our Blended panelists.  

·       Jennifer – Director of Development at Move for Hunger

·       Elba – Sustainability consultant and keynote speaker and trainer

·       Nicole – Founder and CEO at Candor Expedite

 

[03.20] The group discusses why, in 2024, women are still paid significantly less than men.   

“Companies don’t invest the dollars needed in talent management systems, in training their leaders, in incentivizing their leaders to do the right thing, in recording and watching over the numbers so they know who/how leaders promote, to hold them accountable.” Elba

“When you have a smaller company, you have a lot more control. Once you start getting to larger companies, it starts getting diluted – even if there are policies and procedures in place, there’s still this concept of relationships, hire and promote your friends.” Nicole

·       Internal cultures

·       Lack of investment 

·       Policies and procedures

·       Investment

·       ‘Boys club’

·       Coaching people to ask for what they’re worth

·       Women’s anxiety and fear

·       Celebrating women’s successes and achievements

·       Personal responsibility

·       Company responsibility

·       Advocating for yourself

·       Transparency

·       Impact on community, hunger

·       Complexity of the problem

·       What can we learn from the world of sports? Eg. equal pay in tennis

·       Risk for women for putting themselves out there

·       Pros and cons of pay ranges

·       Equalizing benefits as well as pay  

·       What does equal actually mean?

·       Changing how roles work to support equality

·       What do women actually want?

·       Impact on skills gap

·       Importance of choice  

·       Women’s ambition

·       Microaggressions

·       Inclusivity

·       Transferable skills

·       Pay transparency 

·       The best ways to highlight the experience 

·       Bias

·       Safe spaces

·       One-to-ones and roundtables

 

“It boils down to transparency. It’s not just about what we want or what we should be asking for. Not enough organizations are standing on that precipice and shouting loudly “This is why, this is how and this is what we must!” Jennifer

“I don’t like to talk about equal pay because it’s so complicated. Because it’s not about money. The reason people make different amounts of money – it’s death by a million cuts!” Elba

“I want the opportunity to have the opportunity!” Jennifer

“We have so many ways to find out how these companies operate, we just can’t be afraid… ask outrageously!” Nicole

“Corporations aren’t pulling their weight. They have broken systems that perpetuate the systemic bias that is holding people back from achieving their potential.” Elba

[01.04.07] The panel reflect on what individuals and organizations can do to start closing the gender pay gap.

·       Employee development programs 

·       Start early!

·       Be proactive

·       Take advantage of industry data

·       Mentorship and sponsorship

·       Community building

·       Resources and training

·       Surveys

·       Education

·       Executive accountability

·       Importance of flexibility

 

“Never settle… know your worth. Identify your worth and where you want to go, and let’s figure out the steps to get you there.” Jennifer

 

[01.10.40] The group explores how women can positively engage men in this discussion; and the importance of male allyship.  

 

[01.16.32] The panel sums up their thoughts from today’s discussion.