Equal Pay Day, (April 10) is a public awareness event that works to illustrate the gap between men’s and women’s wages, and also for people of color, according to the National Committee on Pay Equity. The event represents how far into the year women must work in order to earn what men earned the year before, and usually falls on a Tuesday to show how far into the next work week women must work to match the pay earned by men, according to the NPCE.
The women’s empowerment movement continues to be at the forefront of many people’s minds. For decades, women have faced challenges surrounding inequality. Many still lack the resources and tools to foster their advancement and growth today, particularly in the workplace. According to Mintel’s US research on marketing to the iGeneration, 50% of female adult iGen consumers aged 18-22 are worried about equal pay for men and women doing the same job.
As such, many brands are working to eliminate inequalities in the workplace and promote women in business. We’ve seen State Street Global Advisors has called on 3,500 companies to increase the number of women in high-level positions; Unilever in the US joined 29 other companies in a pledge to pay women equally; and General Motors partnered with Girls Who Code to empower thousands of middle and high school girls to pursue careers in science and engineering.
From equal pay to increased leadership and mentoring, consumers are paying attention to what brands are doing to elevate the status of women. Brands that do not take action and address existing inequalities could potentially fall behind. Thus, it’s worthwhile that companies consider the trajectory of these efforts and take part in the women’s empowerment movement sooner rather than later. It’s also an opportunity to make a profound impact on society, which can help brands solidify their strength and relevancy in the market.
