Today, March 24, is Equal Pay Day. This date represents when the average pay for women catches up with the average pay for men from the prior year. Almost 3 months. The Equal Pay Act of 1963 and the Civil Rights Act of 1964 were designed to close that gap. Here we are 56 years later, and the gap persists. Information released by the Department of Labor identifies this gap as 82 cents for each dollar paid to men.
The OFCCP Director in a recent interview stated that compensation will be center stage during this administration. Kairos reminds you that, as a federal contractor or subcontractor, you have an annual obligation to conduct a pay study of your workforce. Not the type of pay study that compares the salaries your company pays against market salary information. But the type of pay study that looks at job titles in your workforce by race and gender.