The world is getting ready to celebrate International Women’s Day (IWD) on March 8. This year, the theme is ‘Invest in Women: Accelerate Progress.’

It shows how important it is to help women get better economic opportunities.

There’s also a campaign called ‘Inspire Inclusion.’ This campaign talks about how important it is to have diversity and to empower everyone in society.

This is needed to make sure men and women are treated equally.

Despite progress in women’s rights, challenges persist, particularly in the realm of equitable compensation.

A recent report titled ‘Work Needs Women’ sheds light on the disparity in the job market, revealing that over half of the women globally who requested a raise received less than they anticipated.

This issue is especially pronounced in India, where 90% of women consider pay as a crucial aspect of their job satisfaction, the highest percentage among 11 countries surveyed.

Yet, Indian women continue to face a significant gender pay gap, even though 65% have asked for a raise, more than in any other surveyed country.

The report, which surveyed 14,677 women across these nations, with 1,193 respondents from India, also identifies the top five priorities for job satisfaction among Indian women.

These include salary or payment, job security, work-life balance, training and development opportunities, and company culture.

To bridge the gender pay gap and promote equitable income, Indian women advocate for regular compensation reviews. They also prefer workplace flexibility and gender pay/salary audits. These three are the top measures favoured by them.

This data underscores a broader global trend: companies with greater female representation in senior roles prove to be more profitable and socially responsible. Besides, they also provide safer, higher-quality experiences for customers, according to research by the Harvard Business Review.

As IWD 2024 approaches, the global focus on investing in women and inspiring inclusion serves as a potent reminder of the ongoing struggle for gender equality.

Achieving this goal requires a concerted effort across all sectors to ensure women receive fair compensation, opportunities for advancement, and the respect they deserve in the workplace and beyond.

Image by Mohit Pareek from Pixahive (Free for commercial use / CC0 Public Domain)

Image Reference: https://pixahive.com/photo/womens-day-illustration-3/