There is no question that a racial and gender pay gap exists and persists across all industries in the United States. Slowly but surely small steps have been taken to close the gap, but nonetheless, the gap remains. This can be very frustrating for professionals in HR and job seekers that want to make a change, but don’t always have the power to do so.
Change does not always have to be the responsibility of major organizations and officials. Change begins with you. Below, we have listed various ways you yourself can close the pay equity gap and start making changes in your organization.
Let’s Start with Stats
In 2023:
· White women make $0.73 for every dollar a White Man makes.
· Black women make $0.64 for every dollar a White Man makes.
· Latina women make $0.54 for every dollar a White Man makes.
· Native American women make $0.51 for every dollar a White Man makes.
In 2020, Men ages 45-54 were paid 30 percent more than women of the same age.*
What Can You Do?
Diversify your Executive Level Hiring
The pay gap is contributed by “occupational segregation”, meaning that women and women of color are strongly represented in lower paid positions and industries, with little to no internal growth, including caregivers, education, administration, and more.
Considering and hiring women and women of color in executive opportunities will close the pay gap significantly, especially internally for your organization. Statistics show that a diverse team at the executive level leads to increased productivity, perspectives, and positive moral.
Job Seekers: Do Your Research
If you are in the market for a job, make sure you conduct your research on what level and compensation your skill sets and experience require. Knowing the market and industry hiring trends before you get into the interview stage of negotiations will greatly assist in communicating your expectations and advocating for the treatment you deserve.
HR Departments: Cultivate an Inclusive Organization
To diversify your organization, it’s essential that your hiring process is inclusive, and your company culture reflects one that will retain diversity. Ensuring your interview questions and qualifications are equitable and representative of all backgrounds will bring a broader slate of talent and provide confidence in job seekers that your organization is committed to engaging multiple perspectives. Having internal resources and diverse representation at the executive level will lead to better retention diverse perspectives, and in turn lead to a more diverse executive team.
Change starts with you and your team. If you are still hesitant on what you can do, contact DT@diverse-talent.com to set up a consultation and discussion.
Statistics found via Pew Research Center, Article by Eileen Patten.