Well into his first full week as President of the United States, Barack Obama—with the backing of the US Congress—is signing into legislation equal pay for equal work! Woot as many say on twitter when someone loves something.
Change has finally arrived! Steve Hildebrand’s latest article discusses this new great moment in American history. What make’s the article I am going to share so wonderful is that it points out how this legislation is particularly important to women as well as minorities. In his article (posted fittingly enough in none other than the women owned news blog Huffington Post), Steve says:
“It’s a new day in Washington. After years of Congressional Republicans holding up the equal pay provision, Democrats in the House and Senate swiftly passed the bill. Tomorrow, the first bill that our new president will sign into law will be equal pay for equal work. How proud President Obama must be.
More importantly, what a great moment this will be for the millions of women and minorities in our country who have worked just as hard as their counterparts, but paid substantially less because of their gender or color of skin. This critical moment should be celebrated in every community and in work places across our great country.”
As we watch the current economy go through vast changes and as businesses assess how they are going to navigate the economic challenges, it is clear that all corporations must address how they are speaking to, engaging, and connecting with women consumers all across the spectrum and in various environments—including in the work place. Here are some great stats about women and business:
- Women in the US spend more than 3.3 billion annually. (purchasing power)
- Women business owners employ 35% more people than all the fortune 500 companies combined.
- 95% of family financial decisions are made by women.
- Women in business will invest in 44.5 billion in high tech products this year.
This is a target market that not only needs to be addressed from a marketing and communications perspective, but needs to be acknowledged for its contribution on a grand scale to the economy at large. And that’s why equal pay for equal work is now a mandate and a right step forward into the 21st century. Bravo President Obama!
Click here to read the full Huffington Post article.