Today, April 4, 2017, people across the United States will observe a national day to bring awareness around the gender pay gap. This date symbolizes how far into 2017 women must work to earn what men made in 2016, based on national pay averages.
On Equal Pay Day in 2014, President Obama signed an executive order to strengthen pay transparency for federal contractors.
In observance of Equal Pay Day, it is important to be mindful by evaluating compensation systems in organizations. Conducting a proactive pay equity study to ensure disparities by both sex and race are due to legitimate factors is imperative for organizations. Also, exploring proactive analytics such as a Shareholder Wage Gap study can assist organizations who may feel pressure from outside groups to release wage gap information.
By Joanna Colosimo, Director of EEO Compliance at DCI Consulting Group