In the 21st century, gender equality represents a fundamental principle that societies around the world strive to achieve. Even now when it comes to gender wage gap, we still raise a question: “What are we waiting for?”
There are significant differences between EU countries regarding the gender pay gap. The gender pay ratio ranges from less than 5% in Luxembourg, Romania, Slovenia, Poland, Belgium and Italy to more than 17% in Hungary, Germany, Austria and Estonia. In most countries, the gender pay gap has narrowed over the past decade. This issue is particularly relevant in Bosnia and Herzegovina, where the gender pay gap still exists, despite progress achieved in other areas of gender equality.
Current situation
In Bosnia and Herzegovina, women earn on average about 13% less than men for the same job. According to the most recent data from Paylab, an international salary research platform that collects information on the income and bonuses of employees in various workplaces, the average salary of men amounts to 1,688.00 BAM, while the average salary of women is 1,478.00 BAM.
This gap is even more considerable in certain industries and senior positions, where women are significantly underrepresented. The gap is not merely in numbers; it reflects deep-rooted social norms and stereotypes that continue to undervalue the work and contribution of women.
Despite the fact that women today achieve higher level of education and are statistically more successful at universities in obtaining degrees than men, this has not been transmitted into equal pay or equivalent representation in leadership positions. The disparity in earnings is a symptom of more extensive problems, including unequal access to career advancement opportunities, occupational segregation and the undervaluation of jobs typically performed by women.
The legal landscape and corporate responsibility
Bosnia and Herzegovina has undertaken international obligations regarding gender equality, including the ratification of the Convention on the Elimination of All Forms of Discrimination against Women (CEDAW). National labour laws also prohibit gender discrimination, in all areas including wage discrimination. However, enforcement is not equal, and still a substantial number of companies have yet to fully align their practices with these legal standards.
Corporate responsibility in this area goes beyond mere compliance. Businesses that prioritize gender pay equity demonstrate their commitment to fairness and equality, which can improve their reputation, attract, and retain talent, and improve overall workplace morale.
Why there is an urgent need for action
Achieving gender equality in wages is not only a legal but also moral imperative; it is, in addition, a strategic business decision. Companies that ensure fair pay are more likely to benefit from diverse perspectives, innovative thinking, and a dedicated workforce. Furthermore, closing the gender pay gap causes favourable effects on the broader economy by increasing women’s financial independence and consumer power.
Steps to close the wage gap
In order to move towards achieving gender equality, it is necessary to take the necessary steps, such as wage supervision and transparency in payment practices, which are essential for accountability.
Supporting career advancement for women, i.e. implementing mentoring and leadership development programs aimed at promoting women to higher positions, introducing policies that support work-life balance, such as flexible operating hours and parental leave, all of which can help in reducing the obstacles that women encounter in career advancement, as well as participating in the dialogue and education of women, fostering a culture of openness on the issue of wage equity, educating employees and management about the importance of gender equality in the workplace.
Gender equality represents a burning issue that requires urgent attention and action. By taking specific steps to close the gender pay gap, businesses in Bosnia and Herzegovina can contribute to a more equitable society while reaping the benefits of a more motivated and diverse workforce.
What are we waiting for?
