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We are now existing with the pandemic for almost an entire year. Mandatory lockdowns are no longer a novelty, plus the assumptions many might have had regarding why the global pandemic would affect women have been thoroughly pushed to the curb. When we were initially told to work from home, my initial thought was one of hope. If now both adults, and obviously here I am implying that homes with two working parents, weren’t leaving, then certainly this will recalibrate the house work and childcare responsibilities? Which we might notice a change as then each obtained these tasks upon themselves equally.Was I incorrect.The pandemic far from being a good equalizer has shoved women not only out of the workforce but is additionally impacting them more significantly. As observed in https://diigo.com/0twa3p ’s publication Women in the Workplace 2020, at year-end of 2020, tens of millions of females were considering walking away from the workforce permanently.Elsewhere, a British publication found that females were 1.5 times more likely than fathers to have either lost their employment or quit since the pandemic began. Minorities and females of color are even more highly affected. The report stated that “compared with women in the workforce, Latinas are more likely to worry about firings and furloughs. And LGBTQ+ women are nearly twice as likely as workers overall to cite mental health as one of their biggest obstacles during the pandemic.”One of the main reasons for the dramatic job loss numbers? McKinsey?’s analysis found that women’s jobs are 180% more vulnerable to the pandemic than men’s. One reason for this is that many females are working in verticals destroyed by covid-19. The hospitality industry employs more women than men.It is not merely in the economic area that women are suffering. Information from the United Nations reveals an upsurge in reports to domestic violence helplines around the planet.Why pay parity is more important than everYet, there is another issue at work here. Often the main reason a female is the person to relinquish her employment is purely economic. Who earns more earnings? When both parties are working, it is common sense for the person with the higher earnings to stay in their job and the other one to resign. There is where the issue begins because, as we all know, the level of earnings inequality is astounding.Observing the most current data, in 2020, women make only $0.81 for every dollar a man was paid. The managed gender payroll gap, that ponders metrics like job title, length of experience, vertical, and geography, uncovered that women earn $0.98 for every $1 a man earns. While within this controlled data, the biggest gap is between the pay of black females and Caucasian males. As disclosed in the publication, African American women are paid $0.97 for every dollar a white man with equal qualifications makes.At initial observation, this appears to show that the differential in earning ability is generally minimal when you show like with like. Yet, it is more subtle than that, and that is why it requires our attention. While men and women at the same experience may get similar pay, the issue is that there is strong evidence that men get advanced at a quicker pace than women. The further up the ladder the higher the salary, and herein lay the challenge. This is why it’s not merely the salary that we need to think about ? by determining anticipated raises awarded over a 40-year career, women will lose $900,000 on average over a lifetime.Research shows that when women have children it adversely impacts their payroll potential. The so-named “Motherhood Penalty” leads to employed mothers being seen as less committed to their employment and needing a more accommodating schedule. Statistics reveal that the pay gap is substantially higher for women with kids.Why payroll analytics can increase awareness about gaps at your companyWhile many factors contribute to pay inequities, one of the manners to control it is by isolating where the gaps are and then trying to close the gap. Several employers are not aware that there exists is a difference. A part of the problem is a lack of data, a lack of understanding about current pay scales. From a 2020 report, we know that more than half (56%) of respondents claimed their organizations do not have a formal process to fight pay equity, whilst 70% don’t use payroll structures to manage pay.To battle this data disparity, and as part of their offering for customers who operate in the UK, Immedis created a robust report that clearly reveals the way a company pays its employees based on gender and age.By analyzing the issue, companies could make informed actions about how to change and acquire payroll parity.In addition to the country by country analysis, Immedis also offer international data for Gross and Net pay.Why it’s critical to study dataAside from the fact that it is a lawful mandate in the UK, there’s also the inherent bias existing for tangible proof. In short, people want proof. Without data and comprehensive analyzing, it is easy to take for granted that all is acceptable and that you are doing the right thing for your employees. From the information, organizations can gain a superior knowledge of how they are paying their employees and if there are any glaring differences, that can be addressed.