With the rising awareness regarding gender equality and other such agendas related to eradicating any kind of discrimination related to an individual’s gender. It has been a mentality for centuries that man is more efficient in whatever he does in comparison to women. With the development of mankind and wide spread of importance of education, various societies across the world have become more accepting about the idea of women working at par with the men. Women have also been successful to quite an extent in proving their worth in various professional arenas. Despite various attempts, the gender pay gap still exists. In order to raise this issue and make people aware of the same, the concept of Equal Pay Day was introduced.
In 1996, the National Committee on Pay Equality (NCPE) came up with the idea of Equal Pay Day. This day intends to highlight the gender pay gap which still exists in a majority of companies worldwide. It is held in the month of April every year on a definite Tuesday decided by the NCPE. This year, it will fall on 4th April. NCPE believes that this day symbolizes the progress which took place each year to bridge the gap between the wages of men and women. The formula for calculating this is that women must calculate how far they need to work in the coming week so that they can earn as much as men earned in the previous week. In simpler words, women earn lesser than men on an average. Thus they need to put in more effort for the same pay.
Equal Pay Day trending among millennials
Theoretically, it is frequently quoted that the opportunities and pay scale for women in the professional world are almost equal to that of men. But statistics have a different story to tell. According to the American Association of University Women, a woman only makes 79 cents for every dollar a man earns in the U.S. This is a clear signification of the salary disparity on the basis of gender. Statistics don’t cover all the aspects of a working woman. Apart from the salary, women also miss out on a number of advantages and opportunities at the workplace. The millennial workforce of today is well aware of such hindrances and is looking for ways to avoid them.
Even though women end up adjusting to such malpractices, it will adversely affect their productivity. This is because millennials of today are eager to progress on a speedy basis. They firmly believe in attaining what they rightly deserve. When they realize that they are not getting enough benefits despite putting in hard work, they will lose the will to work. This will harm the development of the company in the long run. Also, millennials will show disinterest in working for companies which practice gender pay gap. This will majorly affect the companies as currently; a majority of the workforce is dominated by millennials. It is necessary for the companies to realize the importance of curbing disparity due to gender this Equal Pay Day. It is to make sure that they attain the best of employees who work for them with adequate determination.