Vermont Housing Finance Agency (VHFA) is proud to announce that it has signed the Vermont Equal Pay Compact through the Vermont Commission on Women. The compact is a pledge by Vermont employers to show their commitment to closing the wage gap. The Vermont Commission on Women offers signers support and strategies for creating an equitable workforce.
“VHFA is excited to show its support for building fairer workplaces,” explained Steve Gronlund, VHFA’s Director of Human Resources and Administration. “Not only is it the right thing to do, it will also encourage the Agency in its ongoing effort to recruit and retain a highly qualified and motivated workforce,” Gronlund continued.
According to Census Bureau estimates, Vermont women earn a median wage of $30,142, which is 18% less than the median wage of $36,927 for men. National research has shown that the wage gap persists even when controlling for the type of work and education levels of workers. Although the gender gap has narrowed substantially since the 1980’s, little progress has been seen in closing the wage gap at the national level in the last 15 years.
“Around five years ago, VHFA took a closer look at its pay structure. We examined our job grades by gender and found some areas where we could make improvements. With the full support of our Board and Executive Management, we have been making steady gains,” remarked Gronlund. “Since 2016 we have reduced the pay gap at VHFA by 7% and are fully committed to reaching 100% pay equity in the very near future.”
VHFA has implemented a number of other policies that help support women, and all its employees, including paid parental leave, telecommuting, educational assistance, an Employee Volunteer Program and generous health care coverage.