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We are all now living with covid-19 for almost a full year. Locking down is https://telegra.ph/Are-Instant-Payroll-a-System-of-the-Future-09-19 , plus the assumptions many might have had regarding why the global pandemic would affect females have been resoundingly kicked to the curb. When we were first told to work remotely, my initial reaction was one of hope. If then both parents, and obviously here I am implying that households with two working adults, were not leaving, then probably this will recalibrate the household chores plus childcare responsibilities? That we might notice a change as now each took those tasks upon themselves equally.Was I incorrect.The covid-19 era far from being a good equalizer has burdened mothers not merely out of the workforce but is also affecting them more significantly. As observed by the World Economic Forum’s publication Women in the Workplace 2020, at the end of 2020, tens of millions of women were pondering leaving the workplace for good.Elsewhere, a UK publication observed that mothers were 1.5 times more likely than fathers to have either lost their employment or resign since the pandemic began. Minorities and females of color are even more highly impacted. The publication states that “associated with females overall, Latinas are more likely to be concerned about layoffs and furloughs. And LGBTQ+ women are nearly 200% as likely as colleagues overall to cite mental health as one of their largest issues during Covid-19.”One of the main reasons for the incredible employment loss numbers? McKinsey?’s study found that women’s employment are 180% more at risk to the economic crisis than men’s. A reason for this is that so many females are employed in industries destroyed by covid-19. The hospitality industry employs more women than men.It’s not just in the economic arena that females are suffering. Data from the United Nations reveals an upsurge in reports to domestic violence phone banks across the globe.Why pay parity is more critical than everHowever, there is another issue at play here. Frequently the primary reason a female is the one to relinquish her employment is entirely economic. Who earns more payroll? When both parties are working, it is common sense for the person with the higher income to stay at their job and the other person to resign. There is where the issue starts since, as we all are aware, the amount of earnings inequality is overwhelming.Observing the most current data, in 2020, females make only $0.81 for each dollar a man made. The controlled gender pay gap, which ponders metrics like job title, length of experience, vertical, and geography, discovered that women earn $0.98 for every $1 a man makes. While within this controlled data, the biggest gap is between the earnings of black females and Caucasian males. As noted in the publication, black women make $0.97 for each dollar a white man with equal qualifications makes.At initial glance, this appears to show that the difference in earning ability is relatively low when you show like with like. Yet, it’s more nuanced than that, and that’s why it needs our attention. While men and women at the same experience may get similar compensation, the problem is that there is strong evidence that men get advanced at a faster pace than women. The higher up the corporate ladder the higher the salary, and herein lay the challenge. That is why it’s not just the salary that we should consider ? by determining presumptive raises awarded over a 40-year career, women stand to lose $900,000 on across over a lifetime.Studies show that when females have children it negatively affects their earning potential. The so-called “Motherhood Penalty” leads to employed mothers being thought of as less devoted to their work and requiring a more flexible schedule. Statistics reveal that the pay gap is much higher for women with children.Why payroll analytics could increase visibility about gaps at your companyWhile many issues add to pay inequities, one of the ways to control it is by isolating where the gaps are and then trying to bridge the void. Several employers are not aware that there exists is a difference. Part of the issue is a lack of information, a lack of knowledge regarding existing pay scales. In a 2020 report, we learn that more than half (56%) of those studied said their employers do not have a formal process to control pay equity, whilst 70% do not use payroll structures to manage payroll.To redress this information gap, and as part of their work for customers who are located in the UK, Immedis created a robust report that plainly reveals the way a company pays its employees based on gender and age.From measuring the differential, companies can make educated decisions about how to change and achieve payroll equity.In addition to the country by country data, Immedis also offer international comparisons for Gross and Net pay.Why it’s critical to track dataAside from the point that it is a legal mandate in the United Kingdom, there is also the existing bias we have for tangible proof. In short, workers demand proof. Without data and comprehensive visualizations, it’s easy to assume that all is acceptable and that you are doing right by your workers. From the information, organizations can gain a better knowledge about how they are paying their employees and if there are any obvious differences, which they can then address.