Today is Equal Pay Day- so called because the average pay gap between men and women is so large that women effectively work for free from November 4th until the end of the year. Depressing, isn’t it? Something must be done about it. Maybe women should strike. I am up for it. A holiday from now until 2015? Sounds fun.

It is not just because women tend to bear the brunt of childcare, although more paternity rights and men picking up their slack in this area would help, read this brilliant article on equal pay from the Huffington Post. This year equal pay day is three days earlier than last year because the pay gap has widened. Truly shocking. For every £1 earned by a man, a women gets 80p.

On Equal Pay Day 2014, Iain McMath, CEO of Sodexo Benefits and Rewards Services had some great comments on how pay differences are affecting employees and what employers can do to help:

“It is alarming to see that the difference in take home pay for men and women is actually increasing, despite it being over 40 years since the arrival of the Equal Pay Act. With figures now showing that women earn 15.7% less than their male colleagues, this inequality shows no signs of abating.

It is unsurprising, therefore, that women are suffering financial consequences of this disparity. According to our recent survey of UK workers, 54% of women say they struggle to put aside any funds due to limited disposable income, compared to just 40% of men, which clearly shows the impact that unequal pay has on financial planning.

Equal Pay Day serves to highlight the fact that there is still significant work to be done before men and women are treated equally in the workplace. Until this happens, employers need to be aware of the financial stress that many of their employees are facing, and must take steps to ensure they are helping staff to manage their money and reach their financial goals.”