The journey toward Gender Parity continues

While progress has been made, realisation of equality is still five generations away. This means that it could take until your great-great-grandchildren. Your children’s children’s children’s children’s time before true gender equality is achieved.

Currently, the world has closed 68.5% of the gender gap. But at the pace we are progressing, it will take an additional 134 years to reach full gender equality.

But its not all doom and gloom. Progress has been made.

Women have made progress in leadership positions, politics, and government roles. But there are still obstacles that stop them from getting the same chances, resources, and decision-making power as men.

Since 2012, programs like the Gender Parity Accelerators have been working to help women get better jobs, become leaders, and earn the same pay as men. Making change and helping create a fairer world where everyone has equal opportunities.

Gender equality is possible, but we need strong leaders, smart investments, and teamwork to make it happen. The launch of the Global Gender Parity Sprint at the 2024 World Economic Forum is an important step. This six-year project brings together governments, businesses, and organisations. To work together to close the gap.

Leading the charge

As women in the workforce, leaders, or business owners, we can make a difference. We can support better rules, teach others about money, and help the next generation of women become leaders. By leading by example and asking for equal opportunities, we can speed up the journey toward true equality.

5 things you can do to help close the gender gap:

1. Negotiate for what you deserve

As of April 2024, the median hourly earnings for full-time workers are £19.24 for men compared to £17.88 for women. To close this gap, we need to advocate for fair compensation.

Learn how to effectively negotiate your salary. Empower yourself to ask for what you deserve. Start by researching salary standards. Knowing industry standards helps ensure you're asking for a competitive salary. Don't shy away from highlighting your achievements and making your contributions visible.

2. Find a mentor and sponsor

Connect with mentors who inspire you. And have overcome gender challenges at work. Their advice and support can be invaluable. Build relationships with senior leaders who can help grow your career and advocate for fairer pay.

3. Push for pay transparency

Support workplace policies that share salary ranges and equity information. Reducing opportunities for pay gaps. Encourage clear, unbiased performance reviews based on measurable goals.

4. Take control of your finances

Invest and save wisely. Understanding your options can provide you with the financial security you need to take control of your financial future.

Plan for the long term. Familiarising yourself with retirement planning and wealth-building strategies will help bridge the gaps that arise from unequal pay.

This article isn’t personal advice. If you’re not sure what’s right for you, ask for advice. Unlike cash, all investments can fall as well as rise in value, so you could get back less than you invest.

5. Support equal pay

Support employers who are dedicated to ensuring equal pay for all employees, regardless of gender. By supporting these companies, you encourage others to follow suit and help create a fairer workplace for everyone. Advocate for equal pay policies and encourage others to join the movement for fair compensation.

Achieving gender equality takes a global effort. By pushing for pay transparency, supporting equal pay, improving financial knowledge, and breaking down barriers. We can create a world where women and men have equal opportunities.

The future of gender equality is in our hands, and with the right leadership and action, we can make it happen for future generations.

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