March 14, 2023, is recognized as Equal Pay Day in the US. This date symbolizes how far into the year women must work to earn the same amount that men earned in the previous year. Because women earn less, on average, than men (according to the US Census Bureau), they must work longer for the same amount of pay. It is vital to know that the wage gap is even greater for most women of color. In recent years, legislatures have…
Effective as of February 1, 2020 Institutional Shareholder Services (ISS) will increase its focus on gender diversity within corporate boards of directors with its updated policy on diversity in corporate board composition. This policy was announced in its “Proxy Voting Guidelines Updates for 2020” published on November 11, 2019. After publishing its original board composition diversity policy, which allowed for a one-year transition period, ISS now increases the pressure on public companies to make a…
Gender pay gap and pay equity are big discussion topics for companies around the world as more and more countries enact laws intended to close the gender pay gap and as case law develops involving discrimination claims related to pay equity. Beyond strictly legal obligations, many companies also face shareholder and employee pressure for increased transparency around diversity and gender pay. The Gender Pay Gap vs. Pay Equity In brief, the gender pay gap relates…