Stats show gaping gender gap in business
‘Women’s earnings generally tend to be less than their male counterparts, both locally and globally'
REMUNERATION is widely regarded as the one factor still creating a gender gap in the South African business and work environment.
According to Business Partners Executive General Manager for Marketing, Gugu Mjadu, the gap is closing slowly, but still exists, even among entrepreneurs.
Speaking in light of Women’s Day, Mjadu said women are opting for more family-driven, balanced lifestyles, turning to entrepreneurship.
But female entrepreneurs should be conscious of not undervaluing their service offerings.
She highlighted that the International Labour Organisation’s 2014/15 Global Wage Report noted women’s average wages are between 4% and 36% less than men’s earnings.
Figures published by the South African Revenue Services (Sars) also revealed that in 2013, women on average, earned approximately a third less than their male counterparts. ‘Whether it be freelancing or starting a small business, women must pay special attention to pricing their services appropriately.
‘Women’s earnings generally tend to be less than their male counterparts, both locally and globally.
‘This is discouraging and highlights the need for women in entrepreneurship to work towards avoiding a similar situation by correctly pricing their skills and knowledge.
‘Although a small business is relatively new, the price paid for products and services do not need to match the age of the business.
‘Women, more so than men, often ignore the years of experience they gained in previous employment and business ventures, despite this being the foundation of their business expertise.
‘As client bases continue to shrink as many companies turn to internal resources instead of outsourcing, the level of competition increases.
‘This means that naming a price for products and services that is competitive with similar market players, without underselling yourself, is even more crucial to the future success of the business.’
HAVE YOUR SAY
Like our Facebook page and follow us on Twitter.
For news straight to your phone invite us:
WhatsApp – 072 069 4169
Instagram – zululand_observer
