More Companies Striving to Close the Gender Pay Gap

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More Companies Striving to Close the Gender Pay Gap

by Vikas Vij
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It takes more than salary audits to eliminate gender pay gap http://bit.ly/1HHyPiV via @Justmeans

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Wednesday, July 22, 2015 - 4:00pm

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According to the White House figures, American women on average earn $0.77 for every dollar earned by men. The pay gap is even wider for women of color and ethnic descent. This harsh reality continues to exist despite the 1963 passage of the Equal Pay Act, which requires men and women to receive equal pay for equal work at the same place of employment.

However, some companies, both large ones and SMBs, are making a conscious effort to address gender-based wage disparities. Marc Benioff, CEO of Salesforce said that he was methodically combing through the pay of all 16,000 of the company’s employees to ensure that the women and men at Salesforce were compensated fairly.

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Vikas is a staff writer for the Sustainable Development news and editorial section on Justmeans. He is an MBA with 20 years of managerial and entrepreneurial experience and global travel. He is the author of "The Power of Money" (Scholars, 2003), a book that presents a revolutionary monetary economic theory on poverty alleviation in the developing world. Vikas is also the official writer for an international social project for developing nations "Decisions for Life" run in collaboration between the ILO, the University of Amsterdam and the Indian Institute of Management.

Keywords: Diversity & Inclusion | Cause Global | Gender Equality | Justmeans | Responsible Business & Employee Engagement | Sustainable Finance & Socially Responsible Investment | best practices | pay gap | wage gap

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