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Management The Gender Pay Inequity

Added on - 30 May 2021

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MANAGEMENTGENDER PAYINEQUITYSTUDENT NAME
P a ge|2EXECUTIVE SUMMARYThis report has been prepared for the Board of Directors of JP Morgan after findingkey issues in its management. The report has been prepared after analysing various newsmedia reviews about company’s failure in making equal pay scale for both men and women.This report has been specially prepared for Australian sector of JP Morgan as Australianlegislations and laws are becoming stricter regarding equal gender pay. From past fewdecades this issue has been hovering around in news channels and have become top priorityissue in many organisations. Financial sectors are seen to be most unfair in making pay scalewhere men are paid more in comparison of women. Many news channels have been coveringthis issue regularly for which it becomes important taking necessary steps to mange genderpay inequity issue. Being CEO of the company, this report has been prepared for Board ofDirectors after finding out necessary changes required in the company’s administrativedepartment. A critical review about the current issue has been made in this report after whicha thought out recommendation has been provided for improvements in the company.
P a ge|3Table of ContentsEXECUTIVE SUMMARY.......................................................................................................................2INTRODUCTION.................................................................................................................................4METHODOLOGY.................................................................................................................................5KEY FINDINGS....................................................................................................................................5REPORT REVIEW................................................................................................................................8Factors behind gender pay inequity..............................................................................................8Why should organisations care?..................................................................................................10Factors supporting equality in gender pay...................................................................................11RECOMENDATIONS.........................................................................................................................13CONCLUSION...............................................................................................................................15REFERENCES....................................................................................................................................16
P a ge|4INTRODUCTIONThe issue of gender pay inequity is one of the management issues that have beenconstantly in news and media which has also become a matter of consideration for manyorganisations and countries. In Australia, the general gender pay gap is calculated byorganisations Gender Equality agencies (WGEA) in which statistics from Australian Bureauare utilised. Australia’s current gender pay gap is around 15.3% and since last few decades itis been hovering around 15% to 19%. The pay inequity is the distinction between men’s andwomen’s standard pay for weekly or full time service. The rise in percentage of men’searning shows women’s overall reputation in paid services and no comparison of positionbetween them. According to survey made by ABS and WGEA, gender pay gap favours fulltime operational men over women in almost every industry and sectors in Australia[ CITATIONCOM18 \l 1033 ]. There may be various factors that results in gender pay inequity like biasnessin recruiting andpay decisions, discrimination, and lack of flexibility in workplace foraccommodating care along with time adjustments requiring responsibilities for senior roles.From the time women enters into a job, pay inequity gets started. Women’s higher likenessfor caring reasons along with likelihood of part time jobs impacts their lifetime security injobs. WGEA encourages companies to make analysis of their pay data in various methods sothat pay inequity issues are minimised after taking effective actions. The gap betweenremunerations of men and women across entire organisation reflects hurdles to women foraccessing superior and high pay roles in organisations, mainly in specialist roles, technicaland leadership position. This issue has been recognised in almost every country in which menare favoured for higher pay than women which result in setback of women’s position incountry’s economy.
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