How Can We Close the Gender Equity Gap? 3 Women Leaders Weigh In

From business to healthcare to tech, the gender equity gap continues to seep into every industry. Even with all the progress we've made thus far, our growth remains slow-going. For instance, women are still making 84% of men’s earnings, and that number can fluctuate higher depending on a person’s race and occupation. 

However, to continue pushing the needle closer to our vision of a fairer, more equitable future, we must scrutinize the bigger picture and gain inspiration from women on the frontlines. How do they approach the undeniable distance between themselves and their male counterparts, and what solutions do they foresee implementing in the future? 

Here, three women leaders weigh in with their personal experiences and takeaways for tackling the gender equity gap. 

1. Stasi Grenfell, Co-founder and CEO, VictressMVMT

The gender equity gap has impacted me significantly in my career. It has a HUGE influence on why I am passionate about empowering and advocating for women in small business and franchising. Before business ownership, I worked in a male-dominated corporate environment, where pay inequity was the norm and gender politics played a significant role in leadership decisions. 

I was paid over 40% less per year than my male counterparts, some of whom managed fewer people and fewer assets. Every time I brought up the gap, I was shut down with the explanation that because I was promoted so quickly, I didn’t have time to ‘build my pay plan’ from position to position. In 2013, enough was enough, and I left that position to get into consulting with the hopes that my qualifications and quality of work would determine my pay. Unfortunately, I was met with the same limitations. In 2017, I started my consulting firm.

When I started my own business, I took the risk of writing my own story. Still, I quickly realized that my opportunity was much more significant and impactful than just having control over my narrative.  Consulting and franchising are unique in that you can directly impact the trajectory of the people you serve by the success of their business.  Because of my own experience with gender inequity, I have made it my mission to support as many women as I possibly can through supporting them in their journey.  I spend much time discussing the nuances of business ownership as a woman in a man’s world.  We talk about motherhood, pay inequity, lack of funding for female entrepreneurs, the childcare crisis, and the list goes on and on.

I believe that in order to be a true ally you must walk the walk.  Speak up for what is right for all people, not what’s right for the majority.  True advocacy happens in everyday leadership.  It’s not just the speaking engagements and superficial optics. It is doing the work with your public officials, building strong organizational structures that support women and families, inviting a more diverse demographic to executive leadership and just betting that win will in fact WIN.  Historically, when given the opportunity, we rise to the occasion.

2. Katie L. Lewis, Attorney and Owner, Katie Lewis Family Law 

As a family law attorney specializing in divorce and custody cases, I've witnessed the gender equity gap's impact on my clients. Women often face financial instability and lower earning potential post-divorce, exacerbating existing disparities. For example, many women have taken career breaks for caregiving, which affects their income and career progression. In cases of asset division, I've seen how homemaking contributions are undervalued compared to financial contributions, further disadvantaging women economically.

To raise awareness and empower other women leaders, I actively mentor aspiring female lawyers and speak at Texas A&M School of Law, emphasizing the importance of gender equality in the legal profession. I also participate in organizations like the Annette Stewart Inns of Court to promote professional ethics and support women in their legal careers. Through my blog and newsletters, I address issues such as the financial implications of divorce and co-parenting strategies, offering practical advice to women navigating these challenges.

Allies can help push our efforts forward by advocating for systemic changes that promote gender equity. For instance, they can support policies that ensure fair valuation of caregiving in divorce settlements and push for workplace practices that accommodate parenting responsibilities for both genders. By promoting equal pay and opportunities for career advancement, allies can help bridge the gap and foster an inclusive environment where women can thrive professionally and personally.

3. Traci Shirachi, CEO, Aplomb Security Group

The "sandwich" generation phenomenon whereby there is an aging population and child-raising, both place significant caregiving responsibilities on women, impacting their career choices and opportunities as primary caregivers. This often leads to accepting lower-paid jobs or leaving the workforce altogether, creating long-term repercussions on their earning power and financial stability.

I have personally experienced the need for alternative work arrangements to balance family responsibilities when my daughter was born, which led me to pursue entrepreneurship and own/manage my own company team. I advocate for providing women with similar paths to protect their earning power through flexible arrangements like entrepreneurship, enabling them to sustain their careers while managing family obligations and protecting their earning power.  This is especially important as women face divorce and other catastrophic events that impact their earning and financial power.

It is crucial for partners to understand and share the responsibilities associated with caregiving, allowing women to remain in the workforce without being penalized for their family commitments. As partners are more aware of why the gender equity gap exists and their contribution to such, they can then help to alleviate or change such.  For instance, with more dual income homes, both parties are having to contribute more together.  There is still much work to do.

As a female leader and entrepreneur, I am committed to empowering women to navigate these challenges and thrive in their careers.

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