25. Accounting and Black wage gap

Links: https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours/articles/ethnicitypaygapsingreatbritain/2018

Image from: https://soundcloud.com/eric-szczesny/short-changed

 

Simple solution:

  • Make it ILLEGAL to advertise a job without salary stated.
  • Make all companies publish their staff wages (and bonus’/benefits), you can make this portion internal only but available to ALL staff members of a company.

Do this and all equality will work themselves out pretty much overnight, it will make it easier to make a dispute, workers themselves would have the information they need to ensure they are getting equal pay.

One thing I never fall for is that companies, governments and staff really way wage gaps closed why do I say this? Simple, companies want to pay staff as little as they can get away with; it’s pretty natural, salary is a cost and companies want to reduce costs, if you don’t know your worth, I’m not going to tell you. remember some of the companies screaming equality look for workers in the cheapest regions of the world, this includes making redundant entire teams to outsource the jobs to cheaper regions.

Governments because this is something they can grandstand on, plus companies making higher profits looks good for the country.

The negative side of doing this is it could definitely lead to wage-fixing/stagnation or even lowering of salaries.

How would we compete against wage fixing? I feel price-fixing is equipped to tackle the problem of price fixing but wage fixing would be harder to prove; if the information is publicly available, all it would take is one of the larger companies to advertise a role that was once 60k for 55k, rivals would pick up on this (which could be spotted by HR, recruitment, data analyst or accountants), this could become the new rate of the role and technically no colluding has taken place.

It would make it harder to reward employees who clearly perform above the role vs employees who perform to what is expected.

We will need to look at the car insurance industry to see if premiums over increased to match men’s or decreased to match women’s but businesses would usually go for the one that gives them the most profit.

If staff wage costs go too high more jobs will be outsourced or automated at an accelerated rate.

@Brainthrough

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