PAY EQUITY PAY EQUITY

How How To To Ensure You Get The Right Buck For Your Work In 2022 Ensure You Get The Right Buck For Your Work In 2022

According to the Bureau of Labor Statistics data, in 2020, women’s annual earnings were 82 3% of men’s, and the gap is even wider for many women of color

The gender wage gap has been omnipresent for decades but since the global pandemic began the bridge to close it has become even more frail 62% of men received a bonus or pay raise for changes to their roles, as compared to only 50% of women in 2021.1 Many women left the workforce over the past two years, but those who remain are still fighting the battle for equal pay

The State Of The Work Place Today

Promotions

For every 100 men promoted to manager, only 86 women are promoted

60 % of women have never negotiated pay

The number of job openings in the US was 10.4 million in September of 2021

- remaining well above pre-pandemic levels amid ongoing labor shortage

There is a fierce competition to attract and retain top talent and this is good news for women seeking to make their next career move in 2022.

This labor market right now is completely favourable

– Luke Pardue ECONOMIST AT GUSTO

Whether you plan to find a new role or you just want to stay with your current employer but increase your compensation, women are well positioned to have both conversations. Businesses are struggling to keep high performers not just due to compensation but due to dissatisfaction with their overall employee experience. They want increased autonomy and flexibility to allow for work-life harmony. They want an employer who recognizes and rewards them for the value they bring to the table while enabling them to be successful at work and at home. If you are seeking a new role, here are some important factors to keep in mind: alignment with your own personal values? Remember, you are interviewing the company too Does their culture seem like a fit based on what you know?

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Be confident about what you bring to the table – your knowledge, skills, and personal and professional experiences matter. Understand the total compensation package, not just the base salary. Some good questions to ask are: What is the target bonus opportunity for this role? Has the bonus paid out in the past 2 years? Can you share the benefits package, time off policy, and work schedule?

Insider Tip: The first offer is not the final offer! Recruiters expect you to negotiate. Want to know how? Download my Salary Negotiation Guide here

4 Be aware of the invisible job market So many new opportunities come from talking to your network They are often aware when there is a new role on the horizon before it’s even posted Always look to expand your new connections on LinkedIn and engage with them a few times a year Conversations lead to possibility! Your LinkedIn profile is such a powerful tool!

According to the Bureau of Labor Statistics data, in 2020, women’s annual earnings were 82 3% of men’s, and the gap is even wider for many women of color The gender wage gap has been omnipresent for decades but since the global pandemic began the bridge to close it has become even more frail 62% of men received a bonus or pay raise for changes to their roles, as compared to only 50% of women in 2021 1 Many women left the workforce over the past two years, but those who remain are still fighting the battle for equal pay.

If you are interested in learning more about how to negotiate for fair and equitable pay, please join me in my upcoming webinar: “Combatting Systemic Pay Inequity” on January 20, 2022: Register here

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