Are corporations promoting programs to improve the status of women employees? Research shows that for every dollar a man makes, a woman makes eighty cents. Is this gender pay gap shrinking? Various companies have started programs aimed at improving gender equality and solving the pay gap. We collected information about such programs and research work to better understand the situation.
Corporate Programs in Finance
Women on the Move Program by JP Morgan Chase, launched in 2013, conducts events to explore and tackle challenges faced by women. Hosting 6000 women employees in 23 cities, this program focuses on closing gender pay gap, encouraging entrepreneurship for women and empowering mothers.
Inclusion & Diversity: Women in Mckinsey holds workshops and events for its women employees, internationally. McKinsey Global Institute has conducted ground breaking research on how gender parity can affect GDP and generate $12 trillion. Mckinsey’s Women in the Workplace research, in collaboration with Leanin, has found key facts and figures indicating gender inequality at work, including underrepresentation of women in vice-president and c-suite level roles.
Other Corporate Programs
Getting to Equal 2017 is a study and program by Accenture with the objective to close the gender pay gap. Accenture believes encouraging women to earn a STEM degree will accelerate their career and pay by 2030.
Adobe is committed to achieve perfect gender pay parity by end of this fiscal year. In addition to organizing a Women’s Summit, Adobe is also working on improving internal hiring practices, changing unconscious biases and a digital academy to encourage women coders.
Government Programs & Research
Workplace Gender Equality Agency, Australian Government (WGEA) has developed a gender strategy toolkit for corporates. It includes roadmaps, scorecards, pay equity and change management strategies for companies to adopt and improve the status quo for its women employees. On achieving its goals, Australian corporates are encouraged to get cited as “Employer of Choice for Gender Equality” by WGEA.
Institute for Women’s Policy Research states that gender pay gap will not be solved for at least another 43 years. While it encourages women to enter STEM field of studies, it has also made specific findings that in the finance industry, female advisors comprise merely 54% of the male advisers.
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