The widening wage gap for women of color during the pandemic overshadows progress for women in the workplace. According to LeanIn’s 2021 study, Black women are paid 42% less than white men and 21% less than white women, while Latinas earn 49 cents for every dollar a white man makes. However, the pay gap for women of color did not start with the global pandemic.
To practice pay equity, executives and HR leaders need to understand why pay inequality is systemic for underrepresented groups in the US. This session will cover a brief history of pay inequity for women and people of color and how HR teams can implement equitable compensation practices such as salary transparency and inclusive benefits to attract and retain top talent.
Watch as Compt Founder Amy Spurling and DEB consultant and Jane’s Way Founding Partner Jane C. Edmonds discuss:
- History of pay inequity for women and people of color and what it looks like in today’s workforce
- Challenges with current compensation practices, including lagging salary data and lack of representation in executive leadership
- Closing the wage gap by restructuring compensation packages
- How to support diverse teams with inclusive employee benefits including out-of-state care stipends
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