Equbusiness book VERSION 28SEPT2023 - Flipbook - Page 41
A global phenomenon exists where women consistently receive substantially lower compensation than their
male counterparts for equivalent job roles, qualifications, and durations resonates across numerous professions
(EU, 2023). The deliberate structuring of remuneration systems to rectify these inequities within select
professions and sectors can serve as an instructive beacon for others. Take, for instance, the pharmacy
profession, founded as the epitome of egalitarianism concerning both career progression and salary parity.
Similarly, the public sector exemplifies egalitarian tendencies in remuneration practices, with salaries for roles
and positions being legislatively regulated, detached from individual biases.
Beyond these specific examples, it raises questions about why companies frequently must take additional
measures to guarantee equity in their pay structures. Simply disclosing wages within organizations, rather than
the policy behind them, can help eliminate unequal systems. The imposition of companies on their employees
not to share wage information plays an important role in maintaining and protecting wage inequality. Companies
that enforce rules that forbid workers from disclosing their wages can exacerbate wage inequality by lack of
transparency. Salary ranges and discrepancies within the company are not transparent when workers are
prohibited from freely discussing their pay. It is challenging for workers, especially women, and members of
underrepresented groups, to assess whether their pay is commensurate with that of their peers who may possess
comparable training and experience due to this lack of transparency (Heeke, 2023).
Preventing the exchange of wage information places workers in a negative bargaining position when discussing
salaries, particularly those who are oblivious to their market value or possible pay disparities. This has the
potential to widen already existing wage disparities since people can unintentionally accept less money for doing
the same work as their peers. Companies that withhold transparency regarding wages and even enforce rules
against it can be viewed as actively perpetuating inequalities. By restricting access to information about wage
practices, these companies hinder employees from recognizing and addressing unfair treatment. Salary secrecy
policies, which limit both individual and collective bargaining power concerning wages, serve as the primary
barrier that organizations must eliminate to address this issue. Consequently, companies aiming to take
meaningful action should begin by conducting pay equity analysis to assess the internal landscape and
subsequently implement necessary corrective measures (Finn, 2023).
