PricewaterhouseCoopers (PwC) has stressed the need for inclusion towards achieving gender parity in the work place. A research, titled PwC’s Inclusion Matters, shows that disparity in pay is a minus for women in the workplace, as only 39 per cent of women feel they are being fairly rewarded financially for their work.
The study highlights that greater inclusion presents clear benefits to employers with women, who feel more included more likely to recommend their employer as a good place to work and have 1.4 times lower turnover intentions than women with lower inclusion scores.
It also shows that having higher levels of inclusion leads women to be 1.4 times more likely to ask for a raise and 1.5 times more likely to ask for a promotion.
The research finds that women’s turnover intentions increased (+8 points) this year with one in four women planning to change employers in the next 12 months, just slightly below the turnover intention rate for men at 27 per cent.
The latest data from the 2024 Women in Work Index (WiW Index) reveals that at the current pace, it will take more than half a century to close the average gender pay gap across all 33 Organisation for Economic Co-operation and Development (OECD) countries.
Despite some progress over the past decade, PwC noted that this year’s analysis showed there was still a considerable way to go to reach gender parity at work across all five indicators.
