Saturday, January 28, 2023
  • Contact
  • Write For Us
  • About Us
  • Privacy Policy
  • Editorial Guidelines
Hesper Herald Daily News
  • Home
  • News
  • Politics
  • Business
  • Technology
  • Culture
  • Lifestyle
  • Travel
  • Health
  • Login
No Result
View All Result
Hesper Herald Daily News
Home Business

Gender Pay Gap Pushed Back by A Century Due to Covid

Charlie Goode by Charlie Goode
July 14, 2022
in Business
0
Gender Pay Gap Pushed Back by A Century Due to Covid
0
SHARES
7
VIEWS
Share on FacebookShare on Twitter

The COVID pandemic has served as a catalyst in widening the inequalities that underrepresented groups face in the UK’s business ecosystem – according to new research from the World Economic Forum (WEF), gender pay parity is at its lowest since their index was incepted. This reduction in the gender pay gap comes from women taking on disproportionate responsibilities of care for family members and children. British women’s high representation in sectors that were locked down and hard hit during the pandemic has meant that gender pay parity has been pushed back to 132 years, according to the WEF. In light of this, QU – a business consultancy for female and ethnic minority founded businesses – has commissioned new national research which found 27% of women in business receive much lower mentorship during their career due to a lack of representation in senior management roles with 18% of British women stating they left their sector due to this.

QU commissioned the unique study to better understand the lack of support networks that hinder women in businesses to successfully reach senior roles. The research found that a staggering 19% of British women don’t have support from their families to carry out their business endeavours with a striking 21% of British women stating they felt like an outcast from their family and community for having different career aspirations, indicating a critical lack of support and mentorship.
 
Key stats:

  • 27% of British women state they have no support role whom they feel comfortable to take guidance from
  • 19% of British women agreed that their family do not support their entrepreneurial business endeavours
  • 21% of British women state they’ve always felt like an outcast in their family and community for having different career aspirations to their families and the wider community
  • 31% of British women state they don’t know where to source investment opportunities to grow their business
  • 25% of British women feel they’re taken less seriously as a business leader
  • 19% of British women said that due to a lack of diversity in the higher ranks of their business they never saw a future in it, so they left that sector.

 
To address the disparities faced by female founded businesses, the recent Rose Review Progress Report has brought into effect the foundation of the Taskforce on Women-Led High-Growth Enterprises. The government backed initiative aims to help women in business by providing the tools to grow in their organisations as well as provide female entrepreneurs with access to finance and growth capital, increased technological adoption, and improved leadership skills. According to the report, if women started and scaled new businesses at the same rate as men, up to £250bn of new value could be added to the UK economy. 

Marla Ubhi – co-founder of QU – argues that while a taskforce is a leap towards creating a more inclusive business ecosystem, gender inequality in the UK business arena remains rife, according to the government’s equalities office only 1 in 3 UK entrepreneurs is a woman – the gender gap is equivalent to 1.1 million missing businesses, and male-led SMEs are five times more likely to scale up to £1 million turnover than female-led SMEs. QU’s data indicates that by applying a holistic approach which addresses the different social factors which hinder women in business from progressing and entrepreneurs from scaling, as well as reducing financial barriers, will help the UK reach their gender equality objectives much faster.
 

Related posts

How To Make Someone Redundant In A Better Way: Business Expert Explains

How To Make Someone Redundant In A Better Way: Business Expert Explains

January 24, 2023
Best Business: How and Why to Implement Precautionary Measures

Best Business: How and Why to Implement Precautionary Measures

January 19, 2023
Tags: COVIDgender pay gapsQUTaskforce on Women-Led High-Growth EnterprisesWorld Economic Forum (WEF)
Previous Post

Ocado “clueless” on food waste

Next Post

What Skills are Needed to Become a Community Police Officer?

Next Post
What Skills are Needed to Become a Community Police Officer?

What Skills are Needed to Become a Community Police Officer?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Understanding Blockchain Technology And Its Fraud Prevention Features

Understanding Blockchain Technology And Its Fraud Prevention Features

11 months ago
Mantises

What Was The First Version Of Internet Explorer Like?

1 year ago
‘Perseverance’ Detects An Environment That Was Habitable On Mars

‘Perseverance’ Detects An Environment That Was Habitable On Mars

1 year ago
Digital HR Transformation- Learn Its Benefits and Result

Digital HR Transformation- Learn Its Benefits and Result

1 year ago

FOLLOW US

BROWSE BY CATEGORIES

  • Automotive
  • Blog
  • Business
  • Culture
  • Education
  • Finance
  • Food & Drinks
  • Health
  • History
  • Home Improvement
  • Law
  • Lifestyle
  • News
  • Politics
  • Property
  • Sport
  • Technology
  • Travel
  • Uncategorized
PR Fire International Press Release Distribution

BROWSE BY TOPICS

bad weather brownfield sites business administration qualification business training cleaning colour psychology exams FANUC fast food logos fast food restaurants flood zones Global Wellness Summit Hannah Beko HMO Property Designs home features house aesthetics House Buy Fast house design house interest Jonathan Rolande language barrir Liz Truss Marion Plant MBA Midland Academies Trust mobile phone law mythbusting National Association of Property Buyers Neil Debenham new legislation oil theft PDSA protecting your home Quotezone.co.uk refugees revision methods revision tips rural areas Scorpion Vision technology Ukraine Vivek Singh wedding wedding suit wedding suit style
PR Fire International Press Release Distribution

POPULAR NEWS

  • What Causes Sharp Stabbing Pain in Right Side Under Rib?

    What Causes Sharp Stabbing Pain in Right Side Under Rib?

    0 shares
    Share 0 Tweet 0
  • An Ultimate Guide to Med Beds Technology

    0 shares
    Share 0 Tweet 0
  • NASA Confirms That Asteroid Bennu Poses A Threat To Earth

    0 shares
    Share 0 Tweet 0
  • What is the Difference Between a Modem and a Router?

    0 shares
    Share 0 Tweet 0
  • Persán Buys Land In Poland For Its New Factory

    0 shares
    Share 0 Tweet 0
  • Contact
  • Write For Us
  • About Us
  • Privacy Policy
  • Editorial Guidelines

© 2020 Hesper Herald

No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Culture
  • Lifestyle
  • Travel

© 2020 Hesper Herald

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In