Intel Corporation (NASDAQ:INTC) has agreed to release pay data of employees to the public broken down by race and gender by the end of this year. It is joining the ranks of pay transparency, which is used to mitigate the pay gaps. The company will inform the public about how much it pays to employees of color and women. Few companies like BBC and Buffer have been releasing employee pay data for the past few years.
Firms with over 100 to release pay data
The companies having 100 or more employees need to provide pay data (broken down by race and gender) to the Equal Employment Opportunity Commission (EEOC). Such data is kept private at EEOC unless a company voluntarily discloses pay data. It is on the backdrop of workers in various industries seeking equality in pay irrespective of color, gender, and race of women and men. The wage gap based on gender and color is persistent in the technology industry. A white woman makes 81 cents, whereas a black woman earns 61 cents. Transparency in the pay helps to mitigate the gap in the wages between gender and the color of women.
Women account for 22% in the AI industry
Women account for just 9% of the leaders in the IT industry worldwide. Though several industries have claimed to have implemented wage diversity initiatives, the figure has not changed much in the past few years. Diversity stats and pay gaps are still issues in the tech industry, mainly in the AI dominated sector. Women in the AI industry account for 22% only. It shows sexism concerns are hardwired in the future.
EEOC would offer more details on pay data in the bigger companies. However, However, large corporations don’t need to make pay data public. Julie Ann Overcas, Vice President (HR) of Intel, said the company must prepare to make the pay data public and withstand the criticism to accomplish real progress.
The news is emanated after Intel agreed earlier this week to settle the pay discriminations towards the minorities by paying $5 million. The company will pay $3.5 million towards interest and back wages. It has also earmarked $1.5 million for future settlements in engineering positions in the US.
