How to Decrease Gender Pay Gap in 7 Steps

In the 21st century, the majority of people find it very obvious that men and women should be paid equal amounts for performing the same job, right? Unfortunately, that is still not the case. The gender pay gap is very significant issue in the European Union. According to European Commission, it is estimated that women in EU earn, on average, around 16.4% less than men. This number can be shocking to many that in this day in age, how is it possible that women in European Union are still paid less than men?

Market Inspector created an interactive map where you can see and compare the position of every European Union country in the Global Gender Pay Gap list created by World Economic Forum. Additionally, categories as Job Gap, Low-Skilled Jobs, High-Skilled Jobs, and Pension, are included in the map in order to give a more accurate representation of gender equality condition in every country.

The interactive map below represents the European Gender Gap Ranking

The Job Gap shows how many men and women are currently employed. The Low-Skilled Jobs and High-Skilled Jobs categories indicate the percentage of men and women occupying jobs that require high or low skills. Finally, the Pension category indicates what percentage of men and women receive pension.

The top European countries in the Global Gender Pay Gap with the smallest gender pay gap are Nordic countries, with Iceland occupying the number one spot on the list, Finland taking the second spot, and Norway coming in third. These countries provide not only the most equal working conditions for men and women when it comes to salary, but they are also pioneers of providing free childcare and maternity/paternity leave for both men and women.

And what about the countries that still have a ways to go when it comes to fair working condition for both men and women? Hungary, Malta, and Greece occupy the last spots in the ranking.

Admitting that the gender pay gap is, unfortunately, still a huge problem we have to deal with in European Union, is already a good step forward, however, it does not solve the problem. Market Inspector prepared an infographic with 7 steps that can decrease the gender pay gap in the European Union.

Substantial evidence on the subject argues that pay equity is not only the right thing to do, but it is the smart thing to do for your business. Fortunately, business leaders and leading companies and organisations all over the world recognise the opportunity of helping to close the gender pay gap.

Market Inspector has prepared a study in the form of an infographic that represents seven steps that can help decrease of the gender pay gap.

Allowing women entrepreneurs into special training and skill development programs could improve women`s market access and encourage their business to grow and be more stable.

In fact, the Women`s Entrepreneurship Development (WED) program has been successful in improving profits for women-led businesses.