EQUAL PAY POLICY
EQUAL PAY POLICY
Skinney- Þinganes hf. follows its own policy on gender equality (Gender Equality Plan), Icelandic law concerning gender equality and the company’s equal pay system, which aims to meet all the requirements of the Equal Pay Standard ÍST 85: 2012. This way, the company ensures that all employees reap the same wages and terms for comparable jobs or jobs of equal value. Unexplained wage gaps will not be tolerated. To implement the company’s wage policy and thus the equal pay policy, the company undertakes to document the procedures of the equal pay system, implement, promote, maintain, and continuously improve the management of the equal pay system in accordance with the requirements of the Equal Pay Standard.
Skinney – Þinganes hf. has implemented procedures and defined criteria for determining wages, where employees are paid for their work based on its value, regardless of gender, gender identity or for other reasons that cannot be considered relevant. The executive board reviews the pay system and the salaries of employees annually to ensure consistency and equal pay for work of equal value. If there is a likelihood of wage discrimination and/or other discrimination in respect of employees’ rights, the CEO shall demonstrate that reasons other than gender have been the basis for wage and/or entitlement decisions and take appropriate measures to fully comply with the Equal Pay Standard. Skinney-Þinganes strives to be a sought-after workplace, with good staff and where there is no gender pay gap.
To achieve this goal, the company will:
- Implement a certified equal pay system based on the equal pay standard ÍST 85: 2012, document it and maintain it. Obtain certification from an accredited party and maintain such certification according to standard.
- Perform regular wage analysis comparing jobs of equal value and check whether there is a difference in wages by gender.
- Respond to unexplained pay gaps through continuous improvement and monitoring.
- Meet the requirements of the standard for internal audits and management reviews annually.
- Comply with relevant laws, rules and collective agreements that concern the company at any given time and confirm compliance with the law.
- Introduce the policy to employees. The policy must also be accessible on the company’s website.