Starting this year, employers can match employees’ student loan repayments as 401(k) contributions under the SECURE Act 2.0, potentially benefiting those burdened with student loan debt, particularly Black women. The policy aims to address the gender pay gap and retirement savings disparities, with experts highlighting its potential to build generational wealth. While seen as a positive step, its impact is limited by employer adoption and voluntary nature, prompting recommendations for employees to advocate collectively and provide data on the impact of student loan debt across different demographics.
New Zealand's government plans to introduce legislation that will require large businesses to report their gender pay gaps, with around 900 companies initially affected. The requirement will eventually extend to cover companies with over 100 employees. The move aims to address workplace inequities and increase transparency. While New Zealand has made progress in reducing the gender pay gap in the public service sector, the overall gap across the economy remains at 9.2%. Other countries, such as Australia, Canada, and the United Kingdom, already have gender pay gap reporting in place. The government will also consider including reporting on ethnicity pay gaps for Māori and Pacific peoples. The legislation is yet to be drafted and will be implemented once a new government is formed after the upcoming general election.
MillerKnoll CEO Andi Owen was recorded telling staff to stop asking about bonuses and focus on hitting the $26 million sales target before the end of May. The video clip went viral on social media, with many criticizing Owen's response to employee concerns. While the company has not yet determined employee bonuses, the edited clip suggests that workers have reason to worry. Owen, who receives the bulk of her pay in incentive-based compensation, urged her workforce to "lead by example" and "leave Pity City".
