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We are now living with the pandemic for almost a full 12 months. Lockdowns are no longer a unique occurrence, plus any assumptions I might have had regarding how the global pandemic would affect women have been resoundingly pushed to the gutter. When we were first told to work remotely, my initial reaction was one of hope. If now both caregivers, and obviously then I am referring to households with two working parents, weren’t leaving, then certainly this will recalibrate the household work plus childcare tasks? That we could see a shift as now each took these chores upon themselves equally.Well I was off-base.The pandemic far from becoming a adequate equalizer has forced women not merely out of the workforce but is also impacting them more significantly. As noted by the World Economic Forum’s report Women in the Workplace 2020, at year end of 2020, millions of women were thinking of retiring from the employment for good.Elsewhere, a British publication found that mothers were 150% more likely than fathers to have either lost their employment or quit since the pandemic began. Minorities and females of color are even more negatively affected. The publication observes that “associated with females in the workforce, Latinas are more likely to worry about firings and furloughs. Additionally LGBTQ+ females are almost twice as likely as workers overall to claim mental health as one of their biggest issues during Covid-19.”One of the primary issues for these incredible job loss numbers? McKinsey?’s study found that women’s jobs are 1.8 times more at risk to the economic crisis than men’s. One cause for this is that so many women are employed in markets gutted by the pandemic. The hospitality sector employs more women than men.It’s not just in the economic area that women are suffering. Data from the UN shows an upsurge in reports to domestic violence helplines across the globe.Why pay parity is more important than everHowever, there is another issue at play here. Many times the main reason a woman is the person to give up her employment is entirely economic. Who earns more payroll? When both parties are working, it makes sense for the person with the higher earnings to remain in their employment and the other one to leave. Here is where the issue starts since, as we all know, the level of earnings inequality is overwhelming.According to the most current information, in 2020, women earn merely $0.81 for every dollar a man made. The controlled gender pay gap, that ponders metrics such as job title, years of experience, vertical, and geography, found that women earn $0.98 for every $1 a man makes. While inside this controlled data, the largest gap is between the earnings of black women and white men. As noted in the report, African American women are paid $0.97 for every dollar a white man with the same qualifications is paid.At https://etextpad.com/venuaj0soa , this appears to imply that the difference in earning ability is relatively minimal when you compare like with like. But, it is more nuanced than that, and that is why it requires our attention. While men and women at the equal level may receive similar compensation, the problem is that there is empirical evidence that men get promoted at a quicker pace than women. The higher up the corporate ladder the higher the salary, and herein lies the challenge. This is why it is not simply the salary that we need to think about ? by determining anticipated pay raises given over a 40-year career, women stand to lose $900,000 on across over a lifetime.Research shows that when females have children it adversely impacts their earning potential. The so-called “Motherhood Penalty” leads to employed mothers being thought of as less devoted to their work and needing a more flexible schedule. Statistics reveal that the pay gap is much higher for women with children.How payroll data may enhance awareness regarding gaps at your businessWhilst several factors add to pay inequities, one of the ways to handle it is by identifying where the gaps are and then seeking to repress the gap. Many companies are unaware that there exists is a difference. A part of the issue is lacking the data, a lack of knowledge about current pay scales. In a 2020 report, we know that over half (56%) of those studied said their employers don’t have an official process to fight pay equity, whilst 70% don’t use salary structures to manage pay.To battle this data gap, and as part of their work for customers who operate in the UK, Immedis created a standard report that clearly reveals the way an organization pays its employees based on gender and age.By analyzing the gap, organizations can make informed decisions about how to change and achieve pay parity.As well as the country by country analysis, Immedis also offer global comparisons for Gross and Net payroll.Why it is critical to track dataAside from the point that it’s a lawful mandate in the U.K., there is also the inherent bias we have for tangible evidence. In short, workers want proof. Without reports and comprehensive visualizations, it is easy to take for granted that all is fine and that you are doing right by your workers. With the information, companies can get a superior understanding of how they are paying their workers and if there exists any glaring differences, that can be addressed.