From the course: Human Resources: Payroll
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Pay equity
- A huge topic within payroll is actually quite simple, paying all people equal pay for equal work. On the surface it seems simple, but when you look into this further equal pay for equal work is actually not happening around the globe. Worldwide, women only make 77 cents for every dollar earned by men. This starts out as soon as they enter the workplace, and follows them every single stage of their life until retirement. Therefore, more and more women are retiring into poverty and missing out on $1 million to $1.5 million over a lifetime, compared to men. The stats are even more concerning for women of color and LGBTQ+ workers. Many countries and states have taken action to change paying women less than men. However, mandating equal pay for equal work is only half of the story. Policymakers need to go beyond equal pay to mandate equal pay for equal value of work, because men and women are often placed into different…
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