But we still have far to go. The theme for this year being, 'Generation equality: realizing women's rights for an equal future' highlights how much still needs to be changed as we still see many women involved in unpaid work compared to men. Here is why financial freedom for women can help bring equality for all.

Less women in the workplace

Things certainly have changed since the first Women's March in 1965. Women have equal rights,  more control over their bodies, and are able to do jobs that were once strictly for men. However, 65 years later, the gender pay gap in the workplace is still a battle that many women are trying to overcome. 

According to StatSA, 44 in every 100 employed individuals are women. Furthermore, it is more likely for women to be involved in unpaid work. But what does this mean? Studies by the OECD centre have shown that women spend two to ten times more time on unpaid care work than men.

Not only are women faced with the gender pay gap in the workplace, but they are also unpaid for the labour that they carry out at home. In some cases, women find themselves having to work two or three jobs to get on the same equal footing as men. 

The gender pay gap

South Africa has come a long way when it comes to gender equality in the workplace, but data shows that we still have even further to go. There are various pieces of legislation that are in place to prevent gender discrimination in the workplace, but many workplaces are still stuck at the gender pay gap of between 23% and 35%. The global average is at 20%. 

One of the causes for the persistent gender pay gap is the lack of transparency in wages. Being transparent towards employees and the public when it comes to the remuneration for a job can force employers to remunerate fairly and equally. 

According to USB management review, women who find themselves in the middle to upper wage bands are affected the most by the gender pay gap where they work more but earn less than their male counterparts.

What women can do to close the gender pay gap?

Financial freedom is a right that all women need and can use, which is why it is crucial for the gender pay gap to be broken. Ways in which this can be achieved are: 

Demanding wage transparency. While this might require a group effort to hold employers accountable when it comes to fair remuneration, transparency is crucial to closing the gender pay gap. Employees are protected by the Promotion of Equality and Prevention of Unfair Discrimination Act (PEPUDA), and the Employment Equity Act (EEA).

Keep your skills up to date. Being able to evolve and adapt will not only increase your chances of being paid well, but it can also be the boost you need to secure whichever position you may have your eye on.

Protect your number one asset. You! It may take some time before many women can close the gender pay gap, but that doesn't mean leaving yourself to be financially exposed. Protecting your ability to earn an income by having life insurance, disability cover and income protection can help protect you and your loved ones when you need it the most.

Learn the art of negotiation. Remember to negotiate your salary whenever you start a new career or when you get promoted. Knowing how to negotiate your value in the workplace to receive fair remuneration can push your employer to pay you fairly for the work you carry out.