Gender Gap and compensation
Student’s Name:
Professor’s Name:
Institutional Affiliation:
Course:
Date:
Introduction
Tentative exploration of gender pay disparities has historically focused on the appeal of gender-specific issues, discrepancies in differences, and qualifications in the attention of equally skilled female and male workers. The effects of this disparity have been impacting women throughout their lives. While women now outpace men in higher education, women now retain almost two-thirds of the remaining student debt in the United States. Yet because of the gender wage gap, women have a hard time repaying the loan. The wage difference often holds women out of retirement: as a result of lower lifetime wages, they gain fewer in social security and pensions. In terms of average retirement income, women have just 70% of what men do (Blau & Kahn 2017).
Closing Gap
Data reveals that women are under-represented at all levels, and women of color are the most under-represented of all. Research further explains that there are four main explanations that there is a gender wage gap. And there is a reasonably straightforward solution for three out of four: to get better at versatile and part-time jobs. There are indeed more senior men than women in the workforce as a whole, and since seniors continue to be paying higher than junior citizens, this has a negative impact on the gender wage gap (Miller & Vagins 2018). That does not mean, however, that the difference cannot get resolved. At the root of the question is the belief that senior positions ‘naturally’ need extended hours and continuous flexibility, and that this cannot get achieved flexibly or part-time. Long hours are highly gendered and deepen the gender wage gap. Gender disparities rise following childbirth, so by the time their first child is 20 years old, women’s monthly earnings are around a third smaller than men’s (Blau & Kahn 2017). Its also been calculated that gender gaps in the levels of part-time and full-time paying jobs account for more than half of the disparity, especially among highly educated employees. However, portraying part-time jobs as women’s options not only implies that women are accountable for their reduced wages; it also places pressure on employers to do something about it. We note that many of the lowest paying professions are those typically undertaken by women, requiring conventional ‘feminine’ skills, such as people’s skills and care skills. The problem here is that we generally undervalue female abilities – and it can take a while to shift. There is also a common belief that women choose low-paid jobs because they offer more excellent stability or are more family-friendly. There is considerable uncertainty about the disparity between the question of fair pay and the gender wage discrepancy. When mentioned above, the gender wage differential gets based on the disparity between the average hourly wage rate for men and the average hourly pay rate for women, primarily due to the reasons given above.
Legal Provisions
Somewhat of believing that anyone should only fulfill senior positions without a non-work demand on their time, or that senior women need ‘accommodation’ to excel, the jobs need to get tailored for the workplace that we already have. A population that includes parents and guardians, women and men, all of whom wish or need to work, but none of whom can do so to the detriment of anything else. Employers who want to close their gender wage gap need to tackle patriarchal prejudices that make it impossible for people to settle for part-time or flexible jobs (Miller & Vagins 2018). And part of the approach here is to make part-time employment more appealing to job-driven individuals, to ensure that part-time career advancement is not only appropriate but aspirational. Opening up predominantly male industries and flexible work jobs will allow more women to work in them and more men to shift to part-time employment. And making these positions more flexible will allow part-time employees to grow their jobs more efficiently. We do not need a flexible working approach here; the legislation has made it clear that men and women will be paying equally since the Equal Pay Act of 1970 (Bratton & Gold 2017). This is worth noting, though, that sexism often results from the same stereotypes about the position of women mentioned above.
Recruitment Planning
Compensation is the cash sum charged to the employee for the services they have rendered to the company. This may also get referred to as compensation or bonuses. Incentives are extra benefits provided to an individual in addition to their remuneration. Companies get faced with a daunting challenge of recruiting and maintaining top talent to operate a profitable company. It may be one of the company’s most challenging work. Organizations continue to contend for both rewards and incentives to recruit top talent and maintain talent. We should look at how these problems impact recruiting, productivity, and motivation, and the turnover of workers (Bratton & Gold 2017).
Reference.
Blau, F. D., & Kahn, L. M. (2017). The gender wage gap: Extent, trends, and explanations. Journal of Economic Literature, 55(3), 789-865. https://www.aeaweb.org/articles?id=10.1257%2Fjel.20160995&source=post_page—————————
Bratton, J., & Gold, J. (2017). Human resource management: theory and practice. Palgrave. https://books.google.com/books?hl=en&lr=&id=SJpMDwAAQBAJ&oi=fnd&pg=PR1&dq=Human+Resource+Management&ots=YvVARez7l1&sig=SOd8ouVdzKb7aWjZusjtQ4iNxlo
Miller, K., & Vagins, D. J. (2018). The simple truth about the gender pay gap. American Association of University Women. https://eric.ed.gov/?id=ED596219