Intel is being praised on social media for taking a tough stance against wage inequality and lack of diversity among its employees. As one of the largest technology companies in the U.S., it could set an example for other businesses to follow.
What is Intel doing to ensure workplace equality among its staff? Every year, Intel does an internal audit to ensure workplace diversity and equal pay. For 2015, Intel was happy to announce women and men holding jobs with similar responsibilities made equal wages.
Intel uses performance reviews to ensure men and women are being treated equally through hiring practices and opportunities for promotion. The company also encourages its existing employees to participate in ensuring workplace fairness. For example, employees are given incentives to meet company diversity goals.
Future audits at Intel will put a greater focus on minorities and workplace fairness. By this time next year, we might be writing a blog discussing how Intel and other tech companies have boosted hiring and executive positions among minorities.
How Are Women Affected by the Wage Gap?
Why should Intel be praised for enacting progressive employment policies? At many other companies across the country, women on average only earn 79 percent of what men make.
To people who are not affected by the wage gap, 20 percent might seem insignificant. However, that is 20 percent less pay to put towards mortgages, student loans and other bills, all of which can make life more difficult. Lower wages for women can also make it more difficult to save for retirement. Don’t be fooled, the consequences of the wage gap have lifelong implications.