Gender Pay Inequality: Transforming Business for Economic Benefits

This essay examines the pervasive issue of gender pay inequality, highlighting its detrimental effects on women and the broader economy. It argues that a fundamental transformation of the economic purpose of businesses is essential to address this inequality effectively. The essay explores how ending gender pay disparities can lead to increased motivation and value among employees, reduced poverty rates for working women, and overall economic growth for countries. It further discusses the creation of a more effective working culture, improved productivity, and the promotion of women's empowerment through equal pay. The analysis emphasizes that businesses prioritizing diversity and skills-based compensation contribute to a more balanced and sustainable society, fostering economic effectiveness and improving the quality of life. The essay concludes that addressing gender pay inequality is not only a matter of fairness but also a crucial step towards achieving broader economic prosperity and social well-being. Desklib provides students with access to a wealth of resources, including past papers and solved assignments, to aid in their academic endeavors.

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Project
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Table of Contents
INTRODUCTION............................................................................................................................3
MAIN BODY..................................................................................................................................3
Ending gender pay inequality requires a transformation of the economic purpose of businesses
in society......................................................................................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5
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INTRODUCTION
Gender pay difference refers the gender wage gap and average difference between the
remuneration for men and women who are working (Amore and Garofalo, 2021). This essay is
going to discuss some reasons as why people should take actions for ending gender pay
inequality and do they actually need transformation of economic purpose of businesses. It will
further discuss some benefits that people and businesses can take by ending this main problem of
gender pay inequality. It will discuss ways in which ending gender pay inequality can improve
economic condition.
MAIN BODY
Ending gender pay inequality requires a transformation of the economic purpose of businesses in
society
Gender pay inequality is one of the main problems that are affecting employees’ especially
female employees. There is a gender pay gap or an average difference between remuneration for
men and women who are working. This gender pay inequality is affecting overall economic
condition and income of men and women. So, in this context, it can be said that gender pay
inequality requires transformation of economic purpose of businesses in society. One of the main
reasons of it is: making both males and females employees feel valued and motivated. When
employees are being provided equal and fair opportunities and wage then it makes them feel
valued and they are more likely to strive hard for accomplishing organizational goals (Sachs and
et.al., 2019).
This ending of gender pay inequality can bring number of changes in economic condition or
it can transform businesses to the great extent. There are some ways in which it can make
beneficial to people and can boos economy such as:
Lower working women’s poverty rate: By closing this gender pay inequality, working
women’s income can be improved and it can decrease the gap between the rich and the poor.
Nowadays, both female and male equally works and when they will be provided same wages and
wages as per their performance and experience then they can improve their living standard. They
can foster their family in an effective manner and it can boost their confidence (Messerli and
et.al., 2019). It can generate income and they can invest money in market that will maintain the
flow of income and expenditure that is vital for improved economy of country.
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There are number of working women who are single parent for their children and when they
will be provided with the same pay as like males then they would not have to suffer and they can
foster their family and children with effectiveness.
Country’s overall growth: It is stated by people that women are more educated then men
and when they will be provided with the same pay as like men then it will motivate them. They
will help out companies in accomplishing goals by striving hard. When companies have skilled
employees then they can earn profit to the great extent and it can generate income. This
generation of income can improve overall economic condition and will make beneficial to
general people as well.
Effective working culture and improve productivity: Its evaluated that when different gender
perform their task with different manner it makes work more effective and profound. Major
reason behind this different individual has different qualities and they do have skills like mostly
women has potential to do creative things and they do have different aspects in decision-making
and men’s have different aspects and they mainly focuses of technique things. Therefore when
two different genders perform tasks together then it defiantly develop improvement economic
purpose of business in society. Ending gender pay inequality promotes chance to women
empowerment they feel more courage and they share and express their view points with powerful
manner. It’s determined from the evaluation of multiple aspects that effective work culture
develop long term growth opportunities and new ideas (Veleva and Bodkin, 2018).
Businesses when properly consider and prefer to involve individual on the behalf of skill
and develop diversification then it defiantly improve and provide quality of life and it maintain
working environment with effective manner also having appropriate skills and terms makes
within involvement of equality in distribution of salary improve quality of work culture because
inivdiual feel motivated when they perform well and they always believes in doing something
effective which makes and provide more sustainability within performing tasks. Also it
maintained discipline and good culture as well.
Different initiatives
It’s been identified from the research and evaluation of ending of gender pay inequality is
effective approach for long tern sustainability and effective environment development. Gender
inequality mainly refers to define as different between two difference and gap between two
genders when they perform similar tasks. Ending of gender inequality is one of the most
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effective initiatives because when individual who develop more effectiveness in doing work and
they do have higher knowledge and potential but the only factors gender will impacts on higher
efficiency in growth of life (Jackson, 2019). It’s been very important term that every individual
consider this term for maintenance of balance within society also it makes positive work culture
or environment as well. Ending of gender pay is all above refers to when two different gender
provide similar services in organization culture by their salary is different so its important to
consider this term individual organization concern to develop ending of gender pay inequality
because its useful and beneficial for economic purpose of business in society because individual
employee deserve better growth and chance to prove them and individual worker feel more
motivated to perform effective tasks.
It develops sustainability and open thinking or open minded approaches in people mind. Because
when they perform task in similar goal achievement they both watch their efforts to make work
more impressive (Aquino, Lück and Schänzel, 2018). Its useful approach and when business
develop this approach to ending of inequality it makes balance of life when two members in
family they both perform they don’t have to face any lack of money regarding issues also they do
respect of each other. Having this sustainability in society its useful for economy effectiveness as
well and it improve quality of society where people not consider that women has power to
become independent and when individual take this initiative it attract other as well which is
useful for society balance and effectiveness.
Gender pay gap reduction within business practices major approach is to gain productivity
because multiple or varicose inivdiual has different thought process, ideas and perception on
individual aspects. And when they consider to does this approach it makes arguments and then it
makes more appropriate decisions. On the basis or recent market activities it has been identified
that people mainly concern to develop ending on gender gap inequality because it they also
celery analyze when in their family one women perform same task or same hard work but they
will not get good amount then it impacts and affects on cultural and provide harm into society
because individual not feel motivated and its not develop equality within cultural activities.
Gender gap connected to economic growth: This term mainly refers to that when two different
gender provide similar participation in working tasks its important to provide them same rewards
and motivation which provide effective relation and makes positivity within economic aspects
and business culture as well. Its been analyzed that economic growth mainly depends on when
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individual do something good for society benefits and generate income value with effective
sources of income, having appropriate styles and approaches provide ideas to develop efficiency
within performing tasks or something or innovation. It promotes the value of different culture.
And it increase education level importance of women as well. Individual when concern to
develop equality in business society so its important term to provide motivation and promotes
society culture with effective manner (Temper and et.al., 2018). Super consistency in distribution
of salary to different gender one of the great aspects, not only gender one major thing which also
important to develop high concern on diversity approach which means provide value to different
culture and involve within business activities which has great skills and then decide salary on the
basis of their skills evaluation. So uses of this approach into business its best term for economic
growth because women also play major role for sustainability in economic condition. They do
have different and effective skills. Also they do have potential to do creativity and efficiency in
working aspects. Its been very clear that having appropriate sustainability within gender equality
defiantly develop higher impressive into working culture and
CONCLUSION
It has been summarised from the above study that gender pay inequality has number of
negative impacts on women and overall economic condition of countries. This gender pay
inequality should be ended. This study has discussed reasons as why companies should take
actions and make changes in policies regarding gender pay inequality. It has further discuss some
positive impacts of ending gender pay inequality on economic condition of countries and growth
of businesses. It requires transformation and by bringing transformation, countries; growth can
be done and it can decrease the gap between the poor and the rich.
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REFERENCES
Books and journals
Amore, M.D. and Garofalo, O., 2021. Pay inequality and gender dynamics in top executive
positions. Corporate Governance: An International Review.
Messerli, P. and et.al., 2019. Global sustainable development report 2019: the future is now–
science for achieving sustainable development.
Sachs, J.D. and et.al., 2019. Six transformations to achieve the sustainable development
goals. Nature Sustainability. 2(9). pp.805-814.
Aquino, R. S., Lück, M. and Schänzel, H. A., 2018. A conceptual framework of tourism social
entrepreneurship for sustainable community development. Journal of Hospitality and
Tourism Management, 37, pp.23-32.
Temper, L., and et.al., 2018. A perspective on radical transformations to sustainability:
resistances, movements and alternatives. Sustainability Science, 13(3), pp.747-764.
Veleva, V. and Bodkin, G., 2018. Corporate-entrepreneur collaborations to advance a circular
economy. Journal of Cleaner Production. 188. pp.20-37.
Jackson, N. C., 2019. Managing for competency with innovation change in higher education:
Examining the pitfalls and pivots of digital transformation. Business Horizons, 62(6).
pp.761-772.
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