Edit ModuleShow Tags

How women (and businesses) in Colorado can fight for equal pay

Equal pay is coming. Here’s how we get there


Published:

The first women’s rights meeting in America dates back to 1848. During the gathering, one of the leaders of the event, Elizabeth Cady Stanton, rearranged the words of the Declaration of Independence. She bravely stated, “We hold these truths to be self-evident: that all men and women are created equal.” 

Fast forward 171 years: society still reveres men more than women. Where is the evidence of this? The payroll gap between the two sexes. To understand this better, let’s take a look at the wage gaps that exist between men and women in Colorado.

Understanding Colorado’s wage gap

Consider this situation: a woman and a man work in the same full-time job with the exact same hours and workload. Most would assume that both employees receive the same pay, but that’s not the case. In Colorado, on average, women working full-time jobs receive $7,244 less than their male coworkers.

Discrimination continues to haunt the U.S., and Colorado is no better than any other state. Statistics declare that the amount earned per dollar by women in comparison to men, despite obtaining the same level of education and having the same level of experience, varies between the different races of women.

On average, white women earn 77.1 cents on the male dollar, while black women take home 65.5 cents, and Hispanic women collect a measly 53.8 cents. Unfortunately, if we fail to acknowledge and pay attention to these drastic wage gaps, equal pay won’t exist until 2057. We can’t wait another 38 years for equal pay.

What can be both companies and individuals do to speed up the process? Let’s find out.

Share data with your employer

As individuals, women can do research on websites like Glassdoor, PayScale and Salary.com to find out what pay is competitive for the job performed. Once we summarize the right data, women should discuss pay and performance with employers.

To make the most impact, women must emphasize the value they bring to the job in the context of the employer’s goals. When they begin the conversation the right way, there’s a higher chance that they will receive the pay that is deserved.

Companies can perform a pay equity analysis

Unconscious bias and discrimination still influence the pay gap, and companies can do their part to distinguish whether their business bases their wages on race, gender, religion and age.

How can they determine this? By performing a pay equity analysis. A pay equity analysis will highlight whether the company bases its pay decisions on discriminatory factors rather than on bona fide factors such as performance, results and experience. If it is determined discriminatory factors are in play, the company leaders need to implement the right changes as soon as possible.

Adhere to the Equal Pay Law

Finally, companies need to align their practices to the laws that relate to equal pay in Colorado

As of Jan. 1, 2021, Colorado will have to abide by a new Equal Pay Law. This new law requires employers and hiring managers to disclose the hourly rate or salary when posting jobs and declare the benefits that come with the position. Employers must also inform every single one of their employees about promotion opportunities on the same day.

All in all, the new law aims to destroy discrimination that can lead to unequal pay. Companies who want to attract the right talent and keep employees around for a long time know how vital it is to pay competitive salary rates and to make pay-change decisions based on relevant factors such as performance and potential.

What are some other things to consider?

As individuals, we can vote in each election. We need to ask the question: Who are the political candidates that are pushing policies that will impact the economic growth of Colorado? We hold the power of the vote, so we can decide who determines our future.

Statusofwomendata.org declares that “women in Colorado earn $10,000 per year less than their male counterparts, are 30% more likely to live in poverty and are 65% less likely than men to own businesses.

However, when the right political candidate steps up and is focused on closing the gender wage gap, Colorado’s economy will grow dramatically. In fact, estimates suggest it could earn around $9.2 billion more. As a result, the poverty gap would close, and the economy would skyrocket. How? Women make up 70% to 80% of consumer purchasing decisions, therefore lowering the poverty rate and instilling equal pay will benefit all businesses.

The question is what will you do next? You can sit back and hope for the right changes to take place in your lifetime or you can take action.

Denise Liebetrau is the CEO of Prosper Consulting, a firm providing HR and compensation consulting, as well as career and salary negotiation coaching.

Edit Module

Get more content like this: Subscribe to the magazine | Sign up for our Free e-newsletter

Edit ModuleShow Tags

Archive »Related Articles

The Jeep Cherokee Trailhawk is a winning vehicle

Though the price tag on this 2020 Jeep may make you think twice, read why this vehicle is an all-around winner–both off and on the trails.

Why you should consider putting your CEO in the spotlight

Expert positioning is a facet of an overall PR strategy that builds visibility, credibility and recognition for the leadership of a company or organization. In other words, putting the CEO in the spotlight not only adds a voice to the company, but it gives a voice to the industry and earns them an authority position as a go-to expert in their field.

How to maintain business communication, connection in the wake of coronavirus

While we are at home scrambling to figure out what normal looks like right now for our businesses, taking care of ourselves and trying to keep our children occupied, we need to assess our virtual communication strategies. Here are some quick ideas on how to pivot your existing marketing plan with smart messaging that will benefit your business and your clients.
Edit ModuleShow Tags
Edit Module


 

Edit ModuleShow Tags
Edit Module
Edit ModuleShow Tags Edit ModuleShow Tags
Edit ModuleShow Tags Edit ModuleShow Tags
Edit ModuleShow Tags Edit ModuleShow Tags