How HR Can Help Bridge the Gap for US Workers Earning Below a Living Wage

September 18, 2024•1 min read

When it Comes to Wages, the Bare Minimum is No Longer Enough

As inflation rises and financial security concerns grow, companies are shifting their focus from minimum wage to a living wage—the income needed to cover basic living costs. Despite this, only 56% of full-time US workers earn a living wage, with significant disparities for women and workers of color. HR professionals play a key role in addressing this wage gap by analyzing workforce compensation, offering financial wellness benefits, and advocating for equitable wages that improve overall employee well-being.

HR leaders can begin by assessing how many of their workers are earning a living wage and which groups face the biggest wage gaps. Additionally, offering benefits like childcare subsidies, tuition assistance, and emergency savings accounts can help offset the rising cost of living. However, while benefits are important, they are not a replacement for fair wages.

Ultimately, the challenge lies in finding ways to balance wages, financial wellness benefits, and the pressures companies face in a changing economic landscape. HR departments have the opportunity to lead the charge in improving workers’ financial health and overall well-being.

Ameena Phelps

Renowned in the HR industry for her transformative insights and dynamic presentations, Ameena is not just a speaker – she's a catalyst for change. With over 15 years of experience in HR leadership roles, she has earned her reputation as one of the most influential keynote speakers globally.

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