While I would not be surprised to hear that there still, even in 2015, are companies that have stone age beliefs about men’s and women’s paychecks, there are other reasons. Many women, especially if they have children, will choose a profession with a lower salary that allows them to be the mother they need to be for their children. It is also a fact that women (due to some might say cultural conditioning), are afraid of asking for a raise or step up to a higher position which will bring more authority and a bigger paycheck. A third factor might be that some high paying industries are slowly beginning to open the doors to women.
The fact is that this disparity of paychecks between men and women hurts all of us. While it does not hurt to have a two income household with two working adults, there are many homes in this country and around the world where one income from one working adult has to be stretched as far as it can go. What business owners sometimes forget is that a paycheck is not just a paycheck. When an employee feels respected financially and professionally, it is a win-win for both sides. The employee is likely to stay at the job and put in a greater effort because they feel that the company appreciates them. This in turn, reduces or prevents the company having the pay for the cost of turnover and training of a new employee.
Equal pay for equal work. It is a very simple concept. But for some businesses, for reasons that I do not understand, it is beyond them.