On International Equal Pay Day, Leaders Highlight the Path to Fair Compensation for All

   18 September 2024  Posted in Articles, Corporate

As we commemorate International Equal Pay Day, it's essential to reflect on the work that still lies ahead in achieving pay equity. Our research highlights that the perception of fair pay among women is 5% lower than their male counterparts. This disparity points to the critical need for organizations to not only implement fair compensation policies but to also foster an environment where employees feel valued and recognized for their contributions.

At Great Place To Work®️ Organizations, 74% of employees believe they are paid fairly, compared to just 55% in non-certified organizations. This data underscores the importance of cultivating a transparent and inclusive workplace culture where compensation is perceived as equitable across all employees. Closing the pay gap requires deliberate efforts—by reviewing pay structures, addressing unconscious biases, and ensuring that diversity and equity are embedded in our daily practices. By doing so, we can create workplaces where everyone thrives and feels respected for the work they do, regardless of gender or background.
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As we mark International Equal Pay Day, it’s important to reflect on equal pay's critical role in fostering gender equality in the workplace. Despite advancements, the gender pay gap persists, limiting women’s opportunities and undermining their contributions. Equal pay isn’t just about fairness—it’s about creating a workplace where talent, not gender, drives compensation and career growth. Organizations must prioritize policies that empower women, close pay disparities, and promote diversity at every level. We can only build a more inclusive, innovative, and balanced future for all by addressing these inequalities. Good to see many organizations now acknowledging this and taking steps towards closing the gap.
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We, at Giottus, believe in the concept of treating all our employees – present and prospective – equally and without any bias.

This aligns with the celebration of International Equal Pay Day which aims to back equal pay for work on equal value. We go beyond this in our approach. More than 40% of our employees are women and they enjoy special benefits including an extra day off monthly.

Indian women are enrolling for higher education on par with men. We have an abundant ecosystem in India that can be developed with a right security net. As an entrepreneur, I encourage all Indian businesses to treat their women employees equally. We should value them and gain from their expertise.

 


Author: Laxman R