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Posts Tagged ‘inequality’

How Tennis’s Pay Gap Compares to Other Sports

Saturday, April 2nd, 2016

This year’s U.S. Open tennis tournament will pay out a record $38.3 million in prize money, with $3 million going to the winner of the men’s and women’s singles titles, not including potential bonus money.

See an interactive graphic of the pay gap between No. 1 and No. 32 in tennis and other sports.

Women look to Hillary for leadership

Monday, April 13th, 2015

Clinton has the chance to ditch the ‘male values’ surrounding equality, for good.

It’s official: Hillary Clinton is running for president. She’ll need the enthusiastic support of female voters if she is to shatter the ultimate glass ceiling and become America’s first female president. Expect to hear more from her on Tuesday, the day feminists have dubbed “Equal Pay Day” to mark when American women finally earn enough to make up for last year’s pay gap.

Typically, Equal Pay Day is used to call for more government action to protect women from what is characterized as widespread discrimination. But if Clinton wants to reach beyond her base, she should take a different tact.

Wage gaps exist in every developed country and in the most committed, liberal workplaces, including Barack Obama’s White House and in Hillary Clinton’s own former Senate office. That’s not because Clinton and Obama are secretly virulent sexists, but because women and men tend to make different choices when it comes to work life, which led to women taken on position with lower pay.
Discrimination does occur, of course, and women certainly face unfair obstacles in some workplaces. Old-boy networks, such as those in banking and tech industries, can unfairly discount women’s contributions; biases against women, particularly working mothers, may contribute to the stubborn dearth of women at the top of corporate America. Women and men alike should reject discrimination, expose lingering sexist attitudes and strive to create work environments that respect women and fully value their contributions.
Female leaders like Hillary Clinton, however, do women no favors by implying that American women are doomed to be consistently and significantly shortchanged throughout their careers. Far better for women to understand that the choices they make — about what to study, what fields to enter, how much time to take off from their careers — will primarily determine their earning potential. After all, our goal shouldn’t be for everyone to all work and earn exactly the same, but for men and women to make informed choices about how to use their time and talents.

And women’s contributions to society, not just their earnings, deserve our respect. The feminist obsession with eradicating the wage gap ironically embraces what a women’s studies professor might otherwise describe as a male values framework. Women have long understood that there is more to life than the all-mighty dollar. Women aren’t necessarily making a mistake when they decide not to “lean in” in pursuit of the corner office. They may find that their greatest satisfaction comes from personal successes, rather than professional ones. And even as we celebrate women’s increased participation in the economy, we ought to also acknowledge the critical, if often overlooked, role that women outside of the workforce play in our communities. Women are our school volunteers, just-in-time family care for friends and first line of defense in neighborhood security. Too often we only see the importance of these women when we note their growing absence.

American women have made tremendous progress. More needs to be done. Mrs. Clinton can help us down that path by moving beyond ’60s-style, women-as-victim feminism and becoming a strong voice for true equality.

Pay inequality ‘costs firms more money in the long run’, says new study

Thursday, January 23rd, 2014

Businesses with the biggest gaps between the highest and lowest paid employees’ pay suffer more industrial action and higher staff turnover, according to a new study.

Yahoo Finance UK – Mon, Jan 20, 2014 11:59 GMT

  •  Firms with the biggest gaps between the lowest and highest paid staff salaries see the highest staff turnover and sickness rates

Paying some staff members substantially more than others may be a false economy in the long run, suggests a new report.
Companies that pay some employees substantially less than other workers experience higher rates of staff sickness and industrial disputes than other firms, according to a study commissioned by the High Pay Centre, a think-tank.
The study of almost 2,000 workplaces found that businesses with the biggest gaps between the salaries of their lowest and highest paid employees also experienced the highest staff turnover.
Researchers at the University of London found that companies where top earners are paid 10 times more than the lowest-earning employees were hit by industrial disputes at least once a year, more than businesses with lower pay differentials.
Workplaces where bosses receive 8 times the pay of junior employees reported at least one case a year of work-related illness, while those with pay differentials of 5 or less reported none.
According to the report, executive pay has increased by 450% in the last 12 years, while on average employee pay has risen by 16%.

“High executive pay is not only frequently unmerited, but has a huge hidden impact on the rest of the organisation and society as a whole,” said Deborah Hargreaves, director of the High Pay Centre.
“Whether it’s through staff turnover, sickness, low morale or industrial action, big pay gaps undermine employees’ loyalty to the company and their managers.
“Employers suffer lost productivity, have to pay more sick pay and legal and recruitment costs as staff left feeling the financial and emotional strain are driven even further into the ground.”
A recent study by the Health and Safety Executive found that work-related stress cost businesses 10.4 million work days in 2012 – an average of 24 days per case. The report also found that workplace illness costs the UK an estimated £8.4bn.

High staff turnover also hits businesses’ bottom line. According to figures from the Chartered Institute of Personnel and Development, employee turnover costs firms an average of £5,800 per worker, and £20,000 per senior staff member.
An interesting alternative to the usual custom of keeping employee salaries private was last year unveiled by San Francisco-based technology start-up Buffer.
The firm took the unusual decision to publish online the pay levels of all of its staff – from the engineers to members of the senior corporate management – in an effort to increase “transparency”.
“We hope this might help other companies think about how to decide salaries, and will open us up to feedback from the community,” CEO Joel Gascoigne said last December in a blog post.  He told reporters that he hoped to generate more commitment from employees by focusing on the company’s “culture”.

Gap between low and high earnings widens

Saturday, November 28th, 2009

 

The gap in earnings between the highest and the lowest paid in Ireland is widening.

A report issued by independent think tank TASC examines the distribution of wealth and income in Ireland.

The report also found that 20% of people in the country are living in households where the combined income is less than €20,000.

http://www.rte.ie/news/2009/1118/tasc.html?utm_source=twitterfeed&utm_medium=twitter