Boston, MA 08/14/2014 (wallstreetpr) – TriNet Group Inc (NYSE:TNET), a provider of comprehensive HR solution for SMBs, on August 13, 2014 announced that the findings of July’s TriNet SMBeat. It is a monthly analysis of SMB (small and medium size business) employment and human capital economic indicators.
The findings of SMBeat in July:
The July month’s SMBeat demonstrates an analysis of particular discrimination in workforce composition as well as salaries, across various industries in the U.S. In fact, the findings also elaborated that during the first quarter of 2014, women received $0.83 with respect to $1.0 earned by men. This wage bias is an enormous factor that needs attention.
Presidential Memorandum:
Over the past century, the U.S. has enacted rules for equal payment for all genders for equal amount of work. In fact, this year the President Obama, signed a Presidential Memorandum, which instructed the Secretary of Labor to set up new regulations. The regulations would require federal contractors to reveal the payment data by sex and race to the Department of Labor. It is anticipated that the data will enable the Department to support compliance with an equal payment as well as target the enforcement much more effectively.
Findings of the salary gap by TriNet:
However, in spite of all such significant steps and efforts, the marginal gap between the women’s and men’s wages remains in the country. The data accumulated from 9,000 clients and 258,000 workers by SMBeat of July 2014 says that, annual salary for men and women in 2014 is approximately $45,084 and $37,232 respectively. The annual salary gap is almost 83%. While, the pay gap stays 85% when compared in executive level employee. In the financial service sector, the workforce ratio in women and men is 43:57 and pay gap of 63%.
