The role of women in society is undoubtedly a common conversation globally, and Dolla Dolla world is shaking the conversation up. In America, there are women currently in the most powerful seats, as heads of huge companies, and running businesses in many industries. Even so, there are many more women, younger women, who struggle to determine their workplace value. Learning to manage money, to use money to make money, has been a challenge to many.
It is difficult to determine how to close the pay gap without further understanding how the gap even got there. Prior to World War II, most women worked in the home. Jobs were broken up based on sex, with the more important jobs listed under “Help Wanted—Male.” Sometimes, the advertisements would run the same position under male and female listings with separate pay scales. When the Equal Pay Act of 1963 was passed, it became illegal to pay women at low wages (in comparison to men) based solely on sex.
Here we are in 2019, with women educating their daughters, but using their own limited financial knowledge. It is a fact that U.S. women in full-time jobs made 80.5 cents for every dollar made by men, and the pay gap has closed less than 1% in the last year (U.S Census Bureau, 2017).
Moving us forward, Generation Z Specialist Irregular Labs has launched a new initiative, empowering young women by helping them become cash savvy. Dolla Dolla World is a free financial literacy initiative taking on the task of educating gen Z’ers on everything money-related, from savings, credit and loans to investing and entrepreneurship.
“With U.S. women set to control over two-thirds of the nation’s wealth by 2020, but only 12% of girls feeling confident in their financial skills, we can no longer afford to not actively and aggressively support young women in their pursuit of financial knowledge and professional opportunities,” Molly Logan, founder of Dolla Dolla World points out. Shedding light on the inconsistency in pay between men and women in professional work has encouraged companies to act by prioritizing financial literacy and confidence in young women.
“Money is power, and power is still a struggle for women every day,” says Dolla Dolla World’s promo video. Now that actions are being taken, JWT Intelligence reassures us there is hope that, with brands, social media, and the news celebrating female empowerment, including personal finance and control in the conversation, the daily “struggle” women are facing will soon be set to change.
I believe that instilling the importance of financial literacy at a young age will positively contribute to closing the pay gap over time. Ultimately, the more knowledge women have, the more power they will have over their financial futures.
The gender pay gap can present challenges in hiring and retention. To learn how might you best respond, contact us at firstname.lastname@example.org