- In the United States, women make much less than men
- The gender pay gap has been happening for so long, but women also face challenges when they start their own companies, reports note
- PayPal is a staunch supporter of equal pay for men and women
PayPal announced its support for International Women’s Day, an annual celebration every 8th of March. According to the payments giant, it supports the organisation’s #BalanceforBetter campaign and it is doing its own bit to ensure equality in the workplace.
The international payments company is reportedly releasing a video that tackles the issue of gender and pay balance. The video will feature female business leaders talking about their personal experiences and their ideas on how to ensure gender balance in the workplace.
Louise Pentland, PayPal’s EVP for Chief Business Affair, invited women chief executives to share their experiences in the workplace as a contribution to International Women’s Day’s campaign. Their insights on how to make the workplace gender balanced appear in the video, the company says.
Ms Pentland spoke with Third Love co-founder Heidi Zak, Hint Water CEO Kara Goldin, Stella & Dot CEO Blythe Harris, Benefit Cosmetics Senior Vice President Lisa Edwards, and Simple Habit CEO Yunha Kim. The video is five minutes long and starts with a quote from Goldin that says, “People always ask me, all the time, ‘was it harder to raise money as a woman?’ My somewhat joke and somewhat serious response is, ‘I’ve never been a man, so I don’t know’.”
Pentland chronicled in late 2018 that women earn 49 cents against $1 for men. It was noted in the LinkedIn post that reports usually say that women make 80 cents as opposed to a dollar that men make.
The women leaders in the video also talked about taking risks, diversity, and other important things that women in business face every day. According to a press release by PayPal, half of the American workforce is comprised of women. It was also noted by the company that women are now outpacing men in terms of educational attainment and entrepreneurship.
Women-owned companies also grew by a whopping 45% between the years 2007 and 2016, a Bureau of Labor Statistics report says. Observers note that this growth rate is significantly faster than the United States’ national average.
Aside from the gender pay gap, women also face other challenges. Female entrepreneurs often have problems accessing mentorship and even have a difficult time looking for venture capital.
It’s not just talk for PayPal, as the payments processing giant is now supporting women in film. According to the company, the video was done by an all-women production team and camera crew.
In support of women around the world, the brand will be highlighting businesses run by women by sharing their experiences at PayPal.com/IWD. The company also noted that $2 of every purchase made at selected retailers will be donated to causes that fight for women’s rights. This particular campaign will end on March 23rd.
The firm says that it has already achieved full pay equity for men and women in its offices.
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