Gender Pay Gap

Reducing Gender Pay Gap is Great for the Economy
How does PwC suggest narrowing this gap?
Will this lead to any change?
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Reducing Gender Pay Gap is Great for the Economy

This week, the world marks International Women’s Day and one of the topics discussed is likely to be the gender pay gap.

Well, a new research suggests that addressing this issue is not just a moral or social goal.

It looks like narrowing this gap can contribute to the economy – a lot.

According to a new research, reducing the gender pay gap could increase gross domestic product by as much as $6 trillion across the OECD.

You might think that in the 21st century even discussing this gap is unnecessary, but just take a look at the figures: Across the OECD, men are still paid on average 16% more than women.

In Korea, the difference in gender pay is 37%.

How does PwC suggest narrowing this gap?

The report offers several solutions including shared parental leave, more flexibility and increased government spending on benefits aimed to encourage mothers to go back to work.

In the UK, new laws now require large firms to report the difference between male and female employees’ salaries.

Will this lead to any change?

If you ask us, it’s more likely that people will be convinced by the economic benefits achieved by change than by government policies, but hey, maybe that’s just us.