The world of sports is one of the most lucrative businesses in the globe, and just like throughout the corporate environment, it also faces equity and gender pay gap challenges.
According to information reported by Forbes, in 2016, members of the Women’s National Soccer Team filed a complaint with the Equal Employment Opportunity Commission and, three years later, sued for damages under the Equal Pay Act and the Civil Rights Act, citing gender discrimination. The female players said they are paid less than their male counterparts, even though they bring in more revenue for the Federation.
Last week (August 2022), a federal judge in California preliminarily approved the $24 million settlement between the U.S. Women’s National Soccer Team and the U.S. Soccer Federation, helping to end a five-plus-year dispute over equal pay.
The U.S. Soccer Federation, the national team’s governing body, has committed to equal pay for men’s and women’s soccer teams under the terms of the agreement.
In 2022, the global gender gap has been closed by 68.1%. But, at the current rate of progress, it will take 132 years to reach full parity. A recent World Economic Forum study recommends that leaders use the creativity and dynamism of human capital to develop policies in their countries to overcome crises and accelerate recovery.
As well as the American women’s soccer team, other good examples to be followed have emerged around the world, such as the EU’s agreement to require companies listed on European stock exchanges to have at least 40% female representation in board positions by 2026. A number of studies have also shown the impact and benefits for companies that are getting it right, as reported here.