UNDATED (WJON News) - March 14th is national ‘Equal Pay Day’.
Arjuna Capital and Proxy Impact used the day to release their 6th annual ‘Racial and Gender Pay Scorecard’ with a surprising result for a local company: Target became the first company to score a perfect A+.
Target and Starbucks scored 100% racial and gender pay equity for all employee levels in the 2022 survey.
Natasha Lamb is the managing partner of the investment management firm Arjuna Capital.
Target’s score of A+ is really something to celebrate this Equal Pay Day. Racial and gender pay gaps are structural and persistent, but the Scorecard holds up those companies that are doing the real and honest work to create pay equity.
Among the notable results:
- 58% of retail and customer service companies plan to conduct a race or gender pay equity analysis in 2023.
- The healthcare industry has the 3rd widest pay gap among the 15 industries surveyed.
- Post-pandemic, the nation has seen a 23% increase in women’s participation in 2022, but women have only experienced a 2% decrease in the pay gap over the last 20 years.
Citigroup estimates that closing the pay gap could increase America’s GDP by 4-6%, bringing the nation an additional $1.1 to $1.5 trillion.
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