The pay gap in America is alive and well, and it will continue for as long as financial transparency is taboo. Research has identified a correlation between the lack of financial transparency and today’s gross wage inequality. Our Owner and Founder, Bianca Forde, would agree.
During negotiations for a corporate role, she found herself at a standstill, not knowing exactly where to turn for accurate, verifiable information on what her compensation package should be. Publicly available information was unspecific, and it was shockingly difficult to discuss pay, even with her closest friends. She became certain that this dearth of salary and compensation information, and general hesitance to #talkpay, harms women and minorities the most. She decided to do something about it.
IT’S TIME FOR COMPANIES TO PUT THEIR DATA WHERE THEIR MOUTH IS
The Equity App addresses the #paygap in two unprecedented ways. First, it puts the onus on companies who “talk the talk” on pay equity to put their data where their mouth is. Companies who truly care to do their part to address the #paygap can now disclose all elements of salary, benefit, and profit-sharing to candidates, which will empower women and minorities who often face the short end of the stick in the salary negotiation process.
WE CAN ALL BENEFIT FROM HONEST, ACCURATE DISCUSSIONS WITH OUR PEERS IN SIMILAR ROLES
Second, it creates a platform for job-seekers and job-holders to communicate anonymously, in real time, with those who share their education and experience—allowing for a better understanding of the market and whether one’s compensation package truly reflects market value.
There is no easier way to exploit inequity than to make speaking of a topic taboo. By talking money, we take back our power, and meaningfully tackle pay and wealth-building inequities for the benefit of our families, and for generations to come.