International Equal Pay Day: Women Must Receive Equal Pay for work of Equal Value
Gender pay difference exists, reducing gender pay gaps is both a moral & pragmatic necessity
On 18th September, this day, it marks the 2nd annual international equal pay day. This day also helps in promoting action towards achieving equal pay for work of equal value.
In the month of November, 2019, the UN General Assembly adopted a resolution, wherein it proclaimed this day as International Equal Pay Day.
As per the UN, General Assembly, voiced deep concern about the slow progress in women's economic empowerment and at the same time, undervalue of work traditionally which was held by women and difficulties in tackling the pay inequality. The General Assembly has urged action to reach the goal of equal pay for work of equal value to all, and it encouraged its stakeholders to continue to support the goal of equal pay for the work of equal value.
Yes gender pay difference exists, reducing gender pay gaps is both a moral as well as pragmatic necessity, especially when the highest paid female CEO in the Fortune earns about $758,474,67 less when compared to the highest paid male CEO. This simply cannot continue, morally, all humans must have equal rights and they should have equal value.
In the transportation industry, particularly, there exists wide gender wage gap, here the average male CEO is paid 45 times more when compared to female counterparts, a gap of nearing to $13 million exist.
The World Economic Forum has concluded that, a strong correlation exist between a nation's progress in closing the gender gap, particularly in education and labor force, as well as economic competativeness as well. Hence, education system across the world should help instill a very thorough understanding about the issue at hand, which will help in catalyze the advancement of female representation, both for economic as well as societal reasoning.
The Covid-19 exacerbates inequity on numerous fronts, it does offer leaders a vital opportunity to end the gender pay gap, this forms the part of the recovery plan from the pandemic, which tends to utilize both moral purpose as well as pragmatism.