An Inclusive and Diverse workforce is increasingly recognised by organisations as key to (business) success. This is demonstrated through: improved financial performance, better attraction and retention of talent, more innovation and deeper customer insight.
Globally the wage earning workforce consists of 52% men and 48% women, so ensuring gender equality is a top priority for organisations. Many countries are introducing legislation regarding gender diversity amongst the C-suite, and working to ensure that men and women are paid equally for equal work.
The pay gap between men and women carrying out equal work globally is approximately 20%, which widens to 45% for the top 1% of earners and varies from country to country (source: ILO 2016 Global Wage Report).
EQUAL-SALARY is an independent non-profit foundation with the aim to promote equal pay for men and women around the world. Together with the University of Geneva, the foundation has developed a robust methodology for objective pay analysis.
Step 1: Statistical analysis
Company employee data is provided to the EQUAL-SALARY Foundation for analysis through a secured IT platform.
All data is made anonymous prior to analysis and compensation data is destroyed after the statistics report has been transmitted.
Using the equal-salary statistical regression method, the wage difference observed needs to be inferior or equal to 5% and the R² is ≥ 90% to proceed to step 2.
A list of individual employee cases falling outside this criteria are provided, enabling the company to put in place a specific action plan demonstrating their commitment to equal pay for men and women.
Step 3: Certification
Depending on the result of the PwC review, the Company is awarded the EQUAL-SALARY Label from the EQUAL-SALARY Foundation.
The EQUAL-SALARY Label can be used on all Company communication such as it’s company website, recruitment advertisements, letter heads, annual reports.
Step 2: On-site Review (PwC)
On-site review carried out by the PwC equal-salary Team following international standards on quality management to assess the:
Step 4: Monitoring Reviews
The EQUAL-SALARY Certification is valid for three years, during that period Certified Companies must submit to two monitoring reviews to demonstrate their ongoing commitment and fulfilment of actions to apply a fair, non-discriminatory wage policy between men and women.