Tuesday, June 6, 2017

In the corporate world, the gender wage gap is closing all too slowly - THE VARSITY

by Naveli Gandhi
Originally published: June 4, 2017
Publisher: TheVarsity.com 

Gender diversity is much more than an issue of social justice — it’s strategic. It can be very difficult to assemble the best talent at an organization without drawing from a complete talent pool that is equally representative of men and women.

But countries like Canada have a long way to go in achieving gender equality in the workplace. Canada holds the seventh largest wage gap of the 35 countries that make up the Organisation for Economic Co-operation and Development. In an interview with The Globe and Mail, Sarah Kaplan, the Director of the Institute for Gender and the Economy at the University of Toronto’s Rotman School of Management, called the gender wage gap “outrageous” and stated that “we’re kind of stuck,” acknowledging that the problem is not disappearing anytime soon.

On a larger scale, the World Economic Forum estimates that it will take 170 years for the gender wage gap to close. A 2015 report entitled “Women in the Workplace,” created by global consulting firm McKinsey & Company and LeanIn.org, estimates 100 years for equal representation in the senior executive suite, or C-suite.