In 2017, Reykjavík Energy introduced a new model that analyzes the impact of every single salary decision on the gender pay gap.
SDGs related to the project
Project description
Reykjavík Energy places great emphasis on gender equality and an inclusive culture. OR is a signatory of the United Nations Women's Empowerment Protocols. In 2017, OR introduced a new model that analyses the impact of every single salary decision on the gender pay gap. This facilitated the company in eliminating its gender pay gap, which was achieved at the end of 2017. OR's equal pay system received equal pay certification in 2018 and again every year since then. The certification confirms that the considerations on which the company bases its wage determination and the decisions taken on the basis of the model comply with the provisions of Act No. 56/2017, on Equal Pay Certification, and do not discriminate against employees based on their gender.
Objectives of the project
The company must provide all genders with similar remuneration for the same or equally valuable work. If the adjusted wage difference is less than 1%, wages are considered equal. The company strives to hire persons for all positions regardless of gender, age, sexuality, religion, opinion, nationality, race, colour, economic situation, ancestry or any other status. All positions must be advertised with this in mind. Efforts must be directed at increasing diversity and balancing the gender ratio in work groups (divisions and units). The OR Group is committed to continuous improvement in equality issues. One aspect of the group's equality policy is to create a workplace where everyone is welcome and can enjoy their work.
When is the target expected to be achieved?
In 2017, OR introduced a new model that analyses the impact of every single salary decision on the gender pay gap. This facilitated the company in eliminating its gender pay gap, which was achieved at the end of 2017. Since then, the company has worked continuously to alter gender and minority stereotypes with promotional material and advertising from the company. Emphasis is also placed on having a diverse group of employees represent OR in the public arena. In 2020, the company began to translate materials into English and make access to OR documents easier for people of foreign origin. All job titles within OR are regularly reviewed with a view to gender neutrality.
Measurement of performance
Equal pay is confirmed through the use of an equal pay system. If there is an unexplained gender pay gap, appropriate action must be taken. The percentage of women in managerial roles has been 50% since 2017.
Project progress
1 February 2021
The adjusted gender pay gap has remained within 1% since autumn 2017. The initial project involved the use and continued development of a measurement tool to maintain the results achieved in 2017. A procedure has been applied which confirms that the current adjusted pay gap is always less than 1%.
13 March 2023
Work according to the implementation plans in equality matters continues, and any unexplained gender pay gap is closely monitored. A report on the situation is included in the integrated, electronic Annual Report of Reykjavík Energy. The figure was 0.2% in 2021 and 0.1% in 2022. The gender pay gap is discussed in more detail here.
Project status
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