State Legislators: The states have pulled ahead and are leading the charge to close the pay gap through salary history bans, reporting requirements, and pay transparency. ![]() While the gender pay gap persists, there are tools to “attack the gap.”Īnnual Pay Equity Analyses: Employers hold the key to closing the wage gap. An annual companywide pay equity analysis coupled with a root cause assessment remains the most effective tool for identifying unexplained pay gaps and implementing effective strategies to close those gaps at the individual employee level.ĮSG Reporting Obligations: Investor driven reporting obligations offer an additional opportunity for employers to assess their “pay equity status.” Moreover, investors’ focus on pay equity underscores the importance of remaining vigilant. The pay differential remains greater for women of color. ![]() While women’s participation in the workforce has returned to pre-pandemic levels, the Center found that women’s earnings, across age groups, continue to lag behind that of their male counterparts. On February 6, 2023, the Center for American Progress issued a fact sheet titled The State of Women in the Labor Workforce. The unadjusted gender wage gap in the United States is holding steady at approximately 83 cents. This year, Equal Pay Day will be recognized on March 14, 2023. ![]() Equal Pay Day marks the point when the average woman’s current earnings, combined with what she earned in the previous year, equals what the average man was paid last year. The first Equal Pay Day observance in the United States was organized in 1996 by the National Committee on Pay Equity to raise awareness of the wage gap and its impact on women.
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