Globally Women Earn Just 77 Cents For Every Dollar Earned By Men.
77
A new report reveals that women globally earn only 77 cents for every dollar earned by men, indicating a more substantial gender gap in workplaces than previously recognized. While 98 economies have enacted legislation for equal pay, only 35 have implemented pay transparency measures. The study emphasizes the need for urgent reforms in laws and public policies to empower women in various aspects, including entrepreneurship, nationality rights, retirement, and safety.
33%
As per a recent Express Employment Professionals-Harris Poll survey, 33% of U.S. hiring managers expect a rise in employee turnover next year, with an average annual cost of $36,295 per departure. Anticipated factors for increased turnover in 2024 include better pay/benefits elsewhere at 38%, heightened workplace demands at 35%, resignations at 33%, and employee perceptions of being overworked at 31%.
72%
Women achieved a record 77.8% labor force participation in mid-2023, propelled by remote work offering increased flexibility and reduced commute times, particularly following initial pandemic-related job losses. However, the recent surge in return-to-office mandates poses a threat to this progress, as evidenced by survey data indicating that 72% of women would consider seeking a new job if hybrid work flexibility is revoked, with 53% of caregiving women valuing flexible arrangements for the associated benefits of cost savings and increased family engagement.
45.1%
Employees are concerned about layoffs, especially in the media and tech sectors, underscore a growing need for improved company communications as employee confidence hits its lowest point since data collection began in 2016, according to Glassdoor's Employee Confidence Index. Despite positive trends in other economic indicators, workers remain skeptical about their employers' futures, with the percentage of those reporting a positive six-month business outlook dropping from 45.7% in January to 45.1% in February. Layoffs are a key driver of employee unease, reflected in a 12% increase in mentions for tech employees and a 25% increase for those in the media industry compared to a year ago.
150
Wolverine World Wide will shut down its operations in Louisville, Kentucky and lay off around 150 employees., the closure, scheduled to commence around May 3, follows the sale of the distribution center in late 2023, which contributed $23 million to Wolverine's Q4 earnings. This move aligns with Wolverine's restructuring plan to achieve $215 million in annual savings by divesting noncore assets, reducing inventory, paying down debt, and optimizing cost structures, despite challenges reflected in a recent 20.8% revenue drop in Q4.