Overview:
Despite civil rights laws and advancements in women's economic status, wage discrimination still persists in every state and virtually every occupation.
Women who work full time, year-round take home about 83 cents for every dollar that non-Hispanic, white men earn. Over a career-defined as 47 years of full-time work-women's total estimated earnings loss compared with men is $700,000 for a high school graduate, $1.2 million for a college graduate, and $2 million for a professional school graduate.
A pay gap also persists across all racial and ethnic groups. Women of color experience wider pay gaps-among full-time workers in 2020, Black and Latina women made, respectively, 64 cents and 57 cents on the dollar as compared to non-Hispanic white men. The overall pay gap has only decreased by a nickel during the 21st century and, unless action is taken, the pay gap between men’s and women’s earnings will not close until 2093.
Why you should Attend:
The pay gap between male and female executives at U.S. companies expanded during the pandemic after years of improvement, according to a new analysis by financial research firm Morningstar.
In 2020, the first year of the pandemic and the most recent year for which pay-disclosure data is available for publicly traded companies, the gender pay gap in the C-suite became wider, "a reversal of the narrowing that occurred between 2015 and 2019.
Getting to the root cause of a pay gap involves:
- Organizing an interdisciplinary team that includes representatives from compensation, total rewards, diversity and inclusion, talent acquisition, performance management, training and development, and in-house and outside legal counsel
- Establishing legal privilege over the assessment to protect it from disclosure
- Looking for patterns
Areas Covered in the Session:
- What is the goal for pay equity for 2023?
- Learn what the Equal Employment Opportunity Commission (EEOC) requirements are and what the pros and cons are to establish pay equity policies
- Learn how the National Labor Relations Board (NLRB) has developed specific pay guidelines for union and non-union employers
- Learn what states are schedule to require pay transparency regulations
- Learn what types of pay transparency requirements will be mandated
- Learn what Employers need to do to become compliant with the Pay Equity requirements
- Learn how pay equity will enhance your retention of valuable employees
- Learn what pay transparency looks like in job postings
- Learn how the Salary History Ban when hiring is a huge step when it comes to pay disparity
- Learn how the Great Resignation has impacted the labor market and forced Employers to increase salaries
- Learn how conducting an internal pay equity audit will let you know where you stand when it comes to pay disparity
- Learn what best practices can be initiated to ensure employees that you take pay equity seriously
Who Will Benefit:
- Business Owners
- Company Leadership
- Compliance professionals
- Payroll Administrators
- HR Professionals
- CEO
- Risk Managers
- Compliance Officers
- Privacy Officers
- Operations Directors
- Information Systems Managers
- Medical Office Managers
- Compliance Professionals
- Managers/Supervisors
- Employers in all industries