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5 Ways The Tech Industry Is Changing The Gender Pay Gap

Tech Industry Is Changing The Gender Pay Gap The gender pay gap has been a hot-button issue in the United States for years. According to the Institute for Women's Policy Research, women in the US make an average of 80 cents for every dollar a man makes. While this wage gap exists across all sectors, it is particularly pronounced in the tech industry.

The tech industry is notoriously male-dominated. According to a National Center for Women & Information Technology report, women made up just 26% of the workforce in 2016. This gender imbalance has led to some troubling consequences, including lower wages and fewer opportunities for women in tech.

So, what is being done to close the gender pay gap in the tech industry? Let's take a look at five ways the industry is changing.

More Women Are Moving Into Leadership Roles

Profisee, MDM software company, released a podcast with guest Cory Munchbach discussing the role of women in the tech industry. Organizations like Profisee MDM giving women their own spotlight to discuss their experiences and expertise are vital to helping close the gender pay gap.

Recently, we've seen many high-profile women move into leadership roles within the tech industry. Sheryl Sandberg, COO of Facebook, is perhaps the most prominent example. As more women move into these positions, they can better advocate for equal pay and more family-friendly policies.

Leadership roles tend to be better paid than entry-level or mid-level positions. They also offer more opportunities for career growth and development. As more women move into leadership roles in the tech industry, the gender pay gap is likely to narrow.

More Companies Are Conducting Pay Audits

As awareness of the gender pay gap has increased, more companies are taking proactive measures to ensure that their employees are paid fairly. One way they're doing this is by conducting regular pay audits. These audits help identify instances of unequal pay so they can be corrected.

Pay audits are time-consuming and expensive, but they are an excellent way to ensure that all employees are paid fairly. The gender pay gap will likely shrink with more businesses conducting pay audits.

Some companies have even gone a step further and released their pay data publicly. In 2017, Salesforce became the first major tech company to do this. Since then, other companies like Amazon, Google, and Microsoft have followed suit. This transparency is helping to hold companies accountable and is likely to lead to fairer pay practices industry-wide.

Tech Industry Is Changing The Gender Pay Gap More Companies Are Offering Flexible Work Arrangements

Another way that companies are becoming more family-friendly is by offering flexible work arrangements. This includes telecommuting, Flextime (the ability to set your own hours), and compressed workweeks (working four 10-hour instead of five 8-hour days). These arrangements make it easier for parents—both mothers and fathers—to balance their work and family responsibilities.

Flexible work arrangements are becoming more common in the tech industry. As more companies offer these arrangements, it will become easier for parents—particularly mothers—to stay in the workforce. This, in turn, is likely to help close the gender pay gap.

More Companies Are Investing In Employee Development

Investing in employee development is another way that companies are working to close the gender pay gap. By providing employees with opportunities to learn new skills and advance their careers, companies are helping to ensure that women have the same options as men to earn raises and promotions.

Several organizations invest in employee development programs specifically for women. The Anita Borg Institute, for example, is a nonprofit organization that encourages and promotes the advancement of women in technology. The institute offers a variety of programs, including an online learning community, professional development workshops, and leadership training.

The National Center for Women & Information Technology (NCWIT) is another organization that invests in employee development for women. NCWIT provides resources to businesses and universities to help them recruit, retain, and promote more women in tech. They also offer training and mentorship programs to help women build their skills and careers in tech.

More Companies Are Promoting Compensation Transparency

Another way that companies are working to close the gender pay gap is by promoting transparency around compensation. This means sharing salary ranges with employees and being open about determining raises and bonuses. This information empowers employees to negotiate for fair compensation and makes it easier to identify instances of unequal pay.

In 2017, California passed a law requiring companies to disclose their pay data to the state government. This information is then made available to the public. The rule applies to companies with 500 or more employees and is already helping to promote compensation transparency. Conclusion
The tech industry has made progress in closing the gender pay gap in recent years. However, there is still more work to be done. By conducting pay audits, investing in employee development, and promoting transparency around compensation, companies can help ensure that all employees are paid fairly. As more companies take these steps, the gender pay gap will likely shrink further.

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Any facts, figures or references stated here are made by the author & don't reflect the endorsement of iU at all times unless otherwise drafted by official staff at iU. This article was first published here on 20th September 2022.

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