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Four years ago, we achieved something that few companies had — pay parity, by compensating all our employees equally for their contributions, regardless of gender. While it might seem like a given, McAfee was the first cybersecurity company to reach this goal, and that work continues, particularly in a time where pay gaps persist.
And they certainly persist. Stubbornly so. Recent data from Pew Research indicates that women in the U.S. make 82 cents for every $1 men earn, a figure that has only increased by two cents in the last two decades. At the current rate, women overall will not reach pay parity until 2059.
We believe no one should have to wait.
At McAfee, we’re proud to demonstrate our commitment to an equitable and inclusive workplace with our ongoing attainment of pay parity. In 2019, we achieved gender pay parity before adding ethnicity to our analysis a year later. Today we’re proud to say that all McAfee team members are compensated fairly and equally for their contributions, regardless of gender or ethnicity.
Creating an equitable environment is part of our DNA and who we are. In fact, half of the McAfee leadership team are female and, together with their male counterparts (including myself), are committed to driving diversity at every level. Whether it’s through our Diversity Impact Analysis, where awards, promotions, or employee programs are analyzed through the lens of equality and equity; or our candidate interviews where a woman is on every panel; or our comprehensive employee benefits and offerings centered around the needs of a diverse workforce — we’re proud of the progress we’re making, while knowing there is still much to do.
Countless studies point to the ways diversity across gender and ethnicity correlates with business performance. At McAfee, we do it first and foremost because we simply believe it’s the right thing to do. Achieving and maintaining pay parity is not without its challenges. It takes effort. Ongoing effort. If left unchecked, we know that the pay divide can resurface overtime, whether through our own unconscious biases or other factors, such as fewer women negotiating starting salaries than men. We must be proactive and intentional to maintain parity. This means quarterly analyses, third-party audits to help identify and address potential bias and subjectivity, and immediate action when we identify discrepancies to ensure the divide remains closed.
At McAfee, we will continue to shape our hiring practices, talent management practices, internal mobility, promotion and award programs, and other practices in a way that creates an employee experience rooted in equity and inclusion, so that all McAfee team members can do the best work of their lives.
We’re honored to play our part in the broader movement toward equality. You can learn more about how McAfee drives meaningful change in our Impact Report and who we are at Careers.McAfee.com.
The post Closing the Pay Gap: How Pay Parity Continues to Transform Our Workplace appeared first on McAfee Blog.
