Why the Gender Pay Gap is Unethical?
Gender pay gap defined as the difference between the hourly wages for men and women is still a rampant issue in our society. This diminishes the lifetime earnings of women. That directly affects the pension received by women and adds to the destitute condition of females in later stages of life.
The reasons are many- sexual discrimination, undervaluation of skills, maternity factors, etc. Whatever the thought process behind it, this concept of the pay gap is unethical due to a myriad of reasons.
1. Effects the performance
Women, even with the same experience, are 21% less likely to reach the first management level than their male counterparts. Employees who are fairly compensated at work perform better. A female worker feeling underpaid on the grounds of a pay gap will never feel lured to run that extra mile for the company.
In the hindsight, it will decline the overall productivity of any organization.
2. Lesser retention
The more a company practices the pay gap, the more difficult it will be to retain a talented workforce. A female worker feeling undervalued by any organization is more likely to go out and hunt for opportunities that pay fairly.
67% of the job seekers in the US state their unwillingness to apply for roles at companies that believe in wage discrimination.
3. Disrupted brand image
It takes years to build a brand image, and a few unethical moves to drop the tide of popularity forever.
If a word goes out about the company paying unfairly owing to gender, it can malign the image of the company, making it even more difficult to make competent hires in the future.
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