VANCOUVER, BC, July 13, 2021 /PRNewswire/ -- Visier, the globally recognized leader in people analytics and planning, today unveiled new data highlighting the sheer magnitude of equity imbalance when it comes to race and ethnicity in the workforce. The new report titled "Racial/Ethnic Career Gap Reveals Magnitude of Equity Challenge" presents new data detailing the significant career progression and pay gaps that exist in today's workforce.
The Visier study uncovered the uncomfortable truth that today's workforce is simply not living up to the standards discussed in the broader public forum. Currently, underrepresented groups make less than $0.86 cents to the dollar of their white counterparts, a statistic even more dire for Black employees, in particular, who average less than $0.67 to the dollar. By reviewing the pay equity progress made over the last three years, Visier estimates it would take more than 25 years for underrepresented groups to reach pay prity--and a shocking 78 years for Black employees.
One of the major contributing causes to this pay disparity is the lack of opportunities made available to underrepresented groups in management roles. Visier's data found fewer underrepresented groups being promoted to management positions, and receiving those promotions later in their careers, leading to a pay gap seemingly impossible to close.
"This data should be a wake up call to employers that have publicly pledged to improve their diversity, equity and inclusion goals in support of movements such as Black Lives Matter," said Lexy Martin, Principal of Research at Visier. "Action, not words, are what cause real change. The data we've uncovered shows that there is a problem, but not an unsolvable one. Armed with data, organizations can take concrete actions to correct the imbalances in their workplaces, and hopefully expedite the path to an equitable society."
As tremendous and complex as these challenges are, employers are not powerless to address them. The data shows that strides have been made in narrowing the gender pay gap in recent years indicating that it is possible to move the needle on outcomes through concerted efforts.
Access to the full report can be found here.
For more information about Visier's leading people analytics solution, visit www.visier.com.
Visier is the recognized global leader in people analytics and workforce planning. Founded in 2010 by the pioneers of business intelligence, Visier focuses on what matters to business leaders: answering the right questions, even the ones a person might not know to ask. Questions that shape business strategy, provide the impetus for taking action, and drive better business outcomes through workforce optimization. Headquartered in Vancouver, BC with offices and team members worldwide, Visier has 8,000 customers in 75 countries around the world, including enterprises like Adobe, BASF, Bridgestone, Electronic Arts, McKesson, Merck KGaA, Uber and more.
For more information, visit www.visier.com.
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