Implementing Equal Pay Standard, IST 85:2012
In Iceland, the current legislation on gender equality is the Act on Equal Status and Equal Rights of Women and Men no.10/2008. The aim of the act is to establish and maintain equal status and equal opportunities for women and men, and thus promote gender equality in all spheres of the society. Last June the Icelandic parliament passed a parliamentary draft to the current law on equal pay standard, this act will be active in January 1st 2018. The main purpose is to react against the gender wage gap and contribute to equality in the labor market.
When the preparation for the legislation was lodged, Fjardaál started working on updating its processes and procedures, reviewing the salary structure and preparing for pre-audit. Fjardaál passed the final audit for the IST 85:2012 standard in April. In June, when the bill for equal pay was passed through Parliament we were already there, and we are the first company with 250+ employees to implement the standard.
Fjardaál wants to be exemplary when it comes to equality. Officially showing that we react against the gender wage gap is crucial. Our goal from the beginning has been employing 50/50 men and women and this action is an important factor towards that goal. Fjardaál has been recognized for focusing on equality and it has been noticed how the company has fought against stereotypes in the labor market. To attract women equal to men in a plant in a remote location, it is very important to have a positive image and a visible outcome to be proud of. We consider standing up for equality a very important prospect to attract talents of both genders to the company.
At Alcoa, we believe we have a responsibility to provide an inclusive, safe and supportive environment for every employee driven by our value to Care for People. We need every single heart and mind actively participating in what we do — encouraging us to think in new and different ways. By creating an inclusive workplace culture, and being committed to diversity and development, we give employees the best opportunity to succeed professionally at our company. As the CEO of Alcoa Corporation, I am honored to add my name to the signatories of the CEO Action for Diversity & Inclusion pledge