There’s a big, wide, ugly gap out there.
And we think it’s time to close it.
Shoking data
For every €1 a man earns...
... a woman earns €0.87
Women work for 2 months free each year, compared to men
And by the time a woman gets to 60, she will have lost out on $1 million.
At the same time the internet is raging!
1 in 4 Europeans believe that the pay gap does not exist.
So we start to wonder
Do we know what
gender pay gap
really is?
Gender Pay Gap vs. Equal Pay
The gender pay gap is the average earnings difference between men and women across a workforce, influenced by factors like job type and hours worked, unlike 'equal pay' which means men and women being paid the same for the same work.
Why is there a gap?
Claudia Goldin is the winner of the 2024 Nobel Prize for Economics. She studied 200 years’ worth of data from the US to track the origins of the gender pay gap and this is what she found.
No wonder…
in the EU Only 8% of CEOs in large listed companies are women.
But this is not the only reason you (women, companies, men) should care… Closing the gender pay gap would benefit not only women and families but also businesses.
Benefits for companies
Boosted Profitability
Firms with more women in top roles enjoy a 25% greater chance of financial success.
Strategic
Shift
Women in the C-suite drive a focus on innovative R&D and lower risk strategies.
Peak performance
Companies with a balanced mix of men and women achieve superior market performance.
Benefits for women and families
Economic Empowerment
Higher salaries boost women's economic power, allowing for independent financial choices and stronger family finances.
Secure Retirement
Higher average salaries can help close the retirement gap (women pensioners in Europe receive 29% less than men), cutting poverty risk later in life.
Leadership and Role Models
Equal leadership roles create more female mentors, inspiring future generations and advancing gender equality in the workplace.
What can be done
5 steps every
employer can take to close the gender pay gap.
Flexible Working
Don’t penalise staff for flexible working. Focus on results, not hours, for fair pay.
Paternity leave
Encourage and support men to take parental leave to balance the career impacts.
Empower managers to lead effectively
Train managers in diversity equity and inclusion (DEI), and make it a key performance criteria for everyone.
Track women’s representation
Do you have equal representation at every level? Set goals for a gender-balanced workforce, especially in the top roles.
Address microaggressions*
Sexism isn’t always obvious or intentional. Train staff to recognize and challenge subtle discrimination.
* Microaggressions are subtle, often unintentional acts or comments that reflect bias against marginalized groups, causing harm and alienation.
Playing our part
What we’re doing to help close the gender pay gap
Dedicated to diversity
At elespacio, We're committed to diversity and inclusion. We are 50% women and we are female co-led. And we’re actively trying to address the gender pay gap.
Our contribution 2
Equal -
Salary
Has developed a scientific tool that helps companies around the world close the pay gap.
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