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How Companies Are Creating Pay Equality

admin Posted in Hot News, Working for Success Comments Off on How Companies Are Creating Pay Equality

How Companies Are Creating Pay Equality

Despite the passage of the Equal Pay Act and other fair pay legislation, women in many companies across the United States still earn less than their male colleagues. The pay gap is even more prominent for minority women, who often find themselves among a company’s lowest earners when compared against male or white coworkers. As the American workforce grows in diversity, several organizations are working to remedy this issue by implementing changes from within. Here are three major ways that companies have fought to abolish the wage gap.

Establish Pay Transparency

Discussion of salary within a company has traditionally been a somewhat taboo topic, but some companies are working to eliminate the stigma of discussing pay in hopes that it will promote better wage equality. Oftentimes, pay inequalities remain unnoticed simply because there is a lack of discourse surrounding salary. If employees are openly aware of each other’s salaries and the salaries offered at different levels, this makes it much more difficult for pay inequalities to persist. Additionally, it is beneficial to encourage managers to discuss pay decisions with one another, rather than making choices unilaterally. The more open discourse becomes, the easier it will be to address biases before they become an issue.

Create a Clear Structure for Payment

One of best ways to promote salary transparency while maintaining equality is to implement hiring and payment guidelines. Many businesses operate without clearly established procedures for handling things such as hiring, promotions, and differing levels of experience among employees. To ensure fair pay, companies should institute a compensation structure. This involves looking at market salary data, working with career development professionals, and observing where pay gaps currently exist. It also means that the company must determine precisely what employee skills or experience they are looking for at each pay grade.

Formatting a thorough payment philosophy may take several months or more, but creating a clear framework is a crucial step needed to achieve company-wide pay equality. When a business has a concrete payment policy, managers and employees can look to it for guidance on maintaining pay standards that benefit all workers.

Maintain Oversight

Creating a fair payment structure does little good if that structure is not enforced and maintained. Among companies that have achieved pay equality, a key component of their strategy typically involves making regular salary check-ins. Conducting salary audits at periodic intervals will help managers analyze where issues may arise and stay on track with the company’s equal compensation system.

Another helpful method to maintain pay equity is to eliminate the practice of asking job candidates for their salary history. This is a notable change from the conventional hiring practices at many businesses, but it is one of the best ways to guarantee that new employees do not continuously suffer the effects of discriminatory practices from previous companies. It also incorporates new hires into the organization without undermining the established payment framework.

Achieving pay equality requires effort and dedication from everyone within an organization. Making a sudden move to eliminate wage gaps may be a bold step for a business, but it speaks strongly to the company’s values of fairness and honesty. In the end, this commitment is well worthwhile, and it will contribute to a more positive company image and a better work environment for all employees.

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The Ultimate Mom’s Guide to a Rewarding Career

admin Posted in Working for Success Comments Off on The Ultimate Mom’s Guide to a Rewarding Career

Moms have it tough, but this is nothing new as moms have always had it tough.  These days, moms are not only the primary caregivers at home, but more and more moms are also looking after their aging parents while trying to have a rewarding career.  With that in mind, here is the ultimate mom’s guide to a rewarding career.

Don’t Fall for the Traps

Let’s face it: you are driven, this is why you were successful in your career, and it is what makes you a great mom.  However, the complexities of motherhood do change a few things – for example, you can’t solely focus on your career.

As such, life goes from something which is easy to navigate to a patchwork of pitfalls.  These include being a great mother to your kids, being the same high performing person you were at work before kids, to being active in the relationship with your significant other.  While this isn’t exactly fair, it does mean that you have a lot of balls in the air.

To make matters worse, it can seem like sometimes you are being pulled in some many different directions that you have almost no time for yourself. As such, life is full of traps and here are a few that you will need to avoid:

Trap 1: Thinking the Grass is Greener

It can be hard to get back on the career track when you have kids at home.  However, one of the worst things you can do is start to think that the grass is greener on the other side – in this case, stay-at-home moms.

As the saying goes, ‘be careful what you wish for,’ the reality is that both working and stay-at-home moms face tremendous challenges.  This means the glossy picture of an easier life is not exactly true, and as such you want to stop focusing on what the grass looks like on the other side.

Trap 2: Using Work as a Place to Hide

This can be extremely dangerous as you had to fight to get through the door after taking time off to be with your kids.  However, far too many working moms see work as an opportunity to get some respite from the chaos at home.

While there is something to be said for this, you don’t want to make hiding out a habit.   As such, you want to use your time at work for forwarding your career – that means getting involved in projects and other activities.   When done right this can help you to contribute while giving you the chance to get earn some praise.

Though you do want to be mindful of scheduling – especially in terms of having some semblance of a work-life balance.  This means that you will need to set and manage expectations every step of the way.  Doing so will help you to meet the constant demands you face without risking burnout and will give you a great story to tell them next time you need to use a Resume Builder to find a new job.

Trap 3: Succumbing to the Guilt

For most working moms it is natural that they will feel a certain amount of guilt when they first reenter the workforce – after all, you have just left your kids under the supervision of a stranger.

It could also be a feeling that you are not living up to what is expected of you, or that you are a bad mom.  No matter what the voice in your head is saying, it is wrong.  You are a good mom, and the reason that you have gone back to work has to do with providing a better life for your family as well as seeing if you can really do it all.

What can you do?  Dissect your guilt to understand the real causes and then talk about with your spouse as this the only way you can get rid of that nagging feeling.  Then start to prioritize, prioritize, prioritize.  Doing so will give you a north star to guide you along your journey.  Also, learn how to say no as you don’t need to be ‘super mom.’   Lastly, forgive yourself as you don’t need to be perfect.

Appreciate the Little Things

Too often we get caught up in the stress and the grind and for working moms, this can lead to a feeling of being overwhelmed.  Instead, you want to take time to stop and smell the roses.  Not only will this make you happier but it will help you in your quest to building a rewarding career.

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The Right MBA Will Have Many Specializations to Choose From

admin Posted in Working for Success Comments Off on The Right MBA Will Have Many Specializations to Choose From

The world has changed a lot in eight years. Since the global financial crash of 2008, the popularity of MBAs has been on the wane, and their overall value is being called into question more and more. Requiring that one put a career aside, and coming with program fees in the tens of thousands of dollars, people are beginning to ask: why do an MBA? The real answer may be surprising. While the obvious assumption is that an MBA pays bigger dividends is true (after all, most MBA graduates see six figure salaries within the first five years of employment), the real value is the versatility of an MBA program. A business degree will allow you to specialize in any number of fields, setting you up for a great job immediately upon graduation. The following is a small list of the specializations available at most business schools.

Accounting

This MBA specialization covers the principal subjects in the field including financial accounting and managerial accounting, taxation as well as auditing. Financial accounting is the foundation for investment analysis, corporate or forensic analysis, as well as mergers and acquisitions breakdown. Accounting also forms the basis for external reporting up the chain to shareholders and other stakeholders. An MBA with this specialization traditionally provides information for managerial decision-making such as performance evaluation and resource management.

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Entrepreneurship

The entrepreneurship specialization will teach you how to become an entrepreneur and prepare you to play a key role in society through the relentless pursuit of opportunities that allow you to create and sustain a competitive and vibrant enterprise. Whether your goal is to own your own business or to help existing organizations grow and develop, this is the spec for you.

Operations Management

Operations management is the corporate area in charge of designing, managing and tracking the various processes that make up a successful business, which are themselves made up of interrelated, sequential. The key is that the product has a greater value than the elements pre-process. At a school like Wilfrid Laurier, MBA students who choose this specialization will apply local, national, and global focuses to stay a step ahead of companies’ current needs, giving them the knowledge, skills and perspectives they need to create value for their companies in the future.

Strategic Management

The strategic problems managers face are typically unclear and do not lend themselves readily to solutions using traditional formulae or models. Strategic management as an MBA specialization will allow you to understand the practical realities behind organizational decision-making. Strategic management solutions are necessary for anyone who wants to answer questions such as: What products should our company make? Which markets should we enter? What type of organization should we be building? How should our company respond to competitors’ behavior? Choose a school with a curriculum that emphasizes an interdisciplinary approach that involves sociology, psychology, and economics to develop analytical frameworks that examine the strategic issues managers face.

Marketing

Marketing as a specialization provides flexibility for students seeking careers that deal with behavioral concepts and quantitative methods in business whether from a marketing-management point of view and provide opportunities for in a wide range of profit and nonprofit situations.

With an MBA from Wilfrid Laurier, you have the option to specialize your general MBA degree. You can choose from one of the specializations listed below:

  • Accounting
  • Entrepreneurship
  • Strategic Management
  • Innovation & Entrepreneurship
  • International Business Management
  • Golf and Resort Management
  • Supply Chain Management
  • Marketing
  • Financial Management
  • Operations Management
  • Organizational Behaviour & Human Resource Management

The top MBA programs in Canada should offer the right combination of versatility and specialization, and allow you to focus on the precise business path that best fits your skills and desires. Business school should help broaden your possibilities, not pigeon hole you in a discipline you don’t enjoy. Before you choose which MBA to pursue, look into their specialization options.

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