Women’s Equality Day provides an opportunity to celebrate how far women have come in attaining equal rights in the United States and around the world. Just as importantly, it also offers a chance to understand just how far they still have to go.
Women continue to face a host of challenges in many areas. Challenges include the longstanding wage gender gap issue to the glass ceiling that prevents women from reaching leadership positions. One fact quickly illustrates the latter issue: Women make up 47% of the workforce, but only 8% of the CEO positions in the S&P 500.
For HR managers and corporate executives, Women’s Equality Day is the perfect occasion to discuss these issues and brainstorm potential company-wide efforts that could help eliminate gender disparities. The fight for equality for women is far from over. Businesses play a crucial role in advancing the cause.
The Historic Victory in Securing Women’s Voting Rights
Any understanding of the need for inclusion and equality for women should start with historical context. Women’s Equality Day provides an excellent opening into this topic.
The U.S. Congress designated August 26 as Women’s Equality Day in 1971. It’s held in August to commemorate the 1920 certification by 36 states of the 19th Amendment, which granted women in the U.S. the right to vote. But the women’s suffrage movement that led to the amendment started long before, in the early 19th century.
An early key moment came in 1848. During this year, reformers Elizabeth Cady Stanton and Lucretia Mott invited activists to Seneca Falls, NY, to discuss women’s rights. The Seneca Falls Convention resulted in an agreement that women deserved their own political identity beyond the “Cult of True Womanhood.” This popular premise from that time held that the only “true” woman “was a pious, submissive wife and mother concerned exclusively with home and family,” according to History.com.
The movement picked up support during and after the Civil War when women replaced men who left the labor force to fight. The effort met with repeated failure at the national level. Congress failed to pass an amendment securing the right for women to vote in 1887, 1914, 1917 and 1918, even though President Woodrow Wilson backed the 1918 effort.
Leaders in western states took matters into their own hands. Starting in the late 19th century and into the early 20th century, governments granted women the right to vote in the Wyoming and Alaska territories. Women also gained the right to vote in the states of Colorado, Idaho, Washington, California, Oregon, Arizona, Kansas, Montana and Kansas. The arduous journey to secure voting rights for women finally led to the 19th Amendment. Congress passed the amendment in June 1919, and it was ratified in August 1920. It states: “The right of citizens of the United States to vote shall not be denied or abridged by the United States or by any state on account of sex.”
The Challenges Faced When It Comes to Gender Equality
The “never quit” attitude of those who supported women’s right to vote is worthy of study for anyone interested in gender equality. However, it’s important to note that it took about 100 years to accomplish.
Moreover, many states did not officially endorse women’s suffrage until years later, according to the U.S. Census Bureau. They include:
- Delaware (1923)
- Maryland (1941)
- Virginia (1952)
- Alabama (1953)
- Florida and South Carolina (1969)
- Georgia and Louisiana (1970)
- North Carolina (1971)
- Mississippi (1984)
The challenges faced by women in securing voting rights can be used today by HR managers and corporate leaders to highlight the roadblocks women still face. In particular, the gender wage gap provides a clear example of gender disparity backed by data.
As numbers from the U.S. Department of Labor show, the gender pay gap remains an issue at every level of educational attainment. Men with a high school diploma earn a weekly median income of $745, while women earn $594. Men with graduate degrees make $1,998 per week, whereas women earn $1,546. Overall, men make 21.7% more per week than women—$1,219 compared to $1,002.
The Pew Research Center reports that the gender pay gap has remained steady for the past 20 years. The situation worsens for women of color. The National Women’s Law Center reports that Black women made just 43 cents for every dollar earned by white, non-Hispanic men in 1967. This gap narrowed by just 26 cents by 2022.
Examples of Successful Inclusion Efforts by Corporations
The road to gender parity has proven to be a long one. But some U.S. companies have taken the lead in this ongoing effort. Their strategies provide examples of how businesses can turn ideas and intentions into action.
For example, TD Bank (No. 20 on the 2024 Top 50 Companies list) offers tangible support for women in the workplace. The company donates more than $1 million per year to women’s initiatives. It has also hosted more than 120 women in leadership conferences. TD Bank’s efforts have led to results. For example, women at the bank earned recognition as a top team in the American Banker’s Most Powerful Women program.
Marriott International (a Hall of Fame company) is another corporation that has taken action to support women in the workforce. The company considers equity and inclusion “integral” to Marriott’s success. Part of the company’s efforts involve the creation of a board-level Inclusion and Social Impact Committee. The committee oversees Marriott’s strategy and efforts in creating an inclusive workplace. It also oversees environmental, social and governance (ESG) issues.
Marriott’s workplace fairness goals include increasing the presence of women and people of color at the vice president level and above. As part of that effort, the company launched a Women’s Leadership Development Initiative in 1999. As of the end of 2022, women held 47% of these positions at Marriott worldwide, while people of color held 22% of these positions in the U.S.
To better support women in the workforce, Mastercard (a Hall of Fame company) conducted a study that found that 28% of women said the gender wage gap held them back from achieving financial empowerment. Mastercard defined that empowerment as “no longer having a negative feeling when checking a bank balance, being able to make informed financial decisions and having access to resources that help achieve goals and feel confident in managing finances.”
Mastercard has a stated policy of paying men and women equally for their work. It also has a Women’s mentoring program that 900 women attended in 2022. The company reported that, globally, as of 2023, women at Mastercard make the same amount as men, with women making $1 for every $1 earned by men.
Other Challenges Faced by Women in 2024
HR managers and others searching for more issues to frame discussions on Women’s Equality Day 2024 can find valuable information. They can also gain perspective on the current global situation. To do this, they can refer to the UN Women’s list of current gender disparity hurdles around the world.
Lack of women leaders. Women hold just 27% of parliamentary seats, 36% of local government seats and 28% of management positions, according to UN Women. As a result, there are fewer different perspectives, hindering the creation of comprehensive policies.
Poverty. UN Women reports that 340 million women and girls are projected to live in extreme poverty by 2030, which means 8% of the global female population will survive on less than $2.15 per day.
Workplace discrimination and inequalities. Only 61% of prime working-age women are in the labor force, compared to 91% of men.
Social norms and cultural practices. These can range from gender discrimination in the workplace to harmful practices such as child marriage and female genital mutilation that continue in some parts of the world.
Inadequate education and healthcare access. Approximately 110 million girls and young women may remain out of school by 2030, according to UN Women.
Other issues on the list include food insecurity and violence against women and girls. Additionally, inadequate funding for gender equality initiatives is another significant concern.
Women’s Equality Day 2024 is a powerful reminder of the progress made toward gender equality. At the same time, it highlights the work that still lies ahead. By embracing the spirit of those who fought for women’s voting rights, businesses today can lead the charge in creating a more inclusive future. As a result, gender parity becomes not just an aspiration but a reality.
