Women still make less than 80% of what men do when doing the same jobs. The Equal Pay Act was signed in 1963. The Ledbetter Fair Pay Act in 2009. Yet we still have discrimination in compensation against 50% of our population. Legislation will not close this gap. Enlightened management will. Managers need to recognize two things. First, when people are doing the job, regardless of gender, pay them what the job is worth. Second, there will be a backlash against companies that discriminate in this manner. And as skilled workers become harder to find, as they will, the companies that have maximized their profits at the female workers expense today will find it nearly impossible to make any in the future.
As detailed in this article from BusinessWeek, in the past three years, wages for women in comparable jobs to men has clawed its way from 78 cents to 79 cents for every dollar men earn. What will women do with all this extra cash? While there are a few positions in which women actually out earn men, this is not the norm. And it is not acceptable.
This is the real storm threatening our economy.