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Achieving workplace equity in Europe is a pressure cooker. Employers — from the UK, Germany, Spain, Norway, and France, to the Netherlands, Denmark, Sweden, and more — are feeling the heat from all sides.
Employees want real — not performative — changes
Employees are demanding real and tangible evidence of fairness and inclusion when it comes to pay and opportunity, and they are willing to walk away if their needs are not met.
Investors are holding employers accountable
Investment professionals are demanding evidence of equity and diversity through ESG reporting and shareholder proposals.
Legislative institutions and advisory groups are demanding action
The EU Commission Directive and The European Financial Reporting Advisory Group (“EFRAG”) are calling for action on equal pay through legislation and ESG disclosures.
Businesses that fail to meet these demands run the risk of eroding employee trust (making it harder to recruit and retain top talent), damaging their brand reputation, and alienating investors.
Challenges of ensuring workplace equity
01•
02•
Lack of expertise
Getting workplace equity right requires legal, statistics, and communications expertise, with the ability to adhere to employee, consumer, and investor expectations. That's a tall order for most teams.
03•
Difficulty in complying with regulations
Country-specific pay gap reporting and disclosure laws make it difficult to adhere to ever-changing pay transparency requirements and to scale.
04•
Siloed, static, and stale analyses
One-and-done manual pay gap analyses through law firms take months to complete and are outdated by the time you get the results. In a workforce that is constantly evolving — new hires, promotions, mergers and acquisitions, and more — you need ongoing pay gap analysis to measure and track changes, and to make adjustments as needed.
05•
Recurrence of issues
The same pay and representation gaps persist, year after year, and most companies have no clear way to make and sustain progress.
It’s no wonder employers are having a hard time ensuring workplace equity. It doesn’t have to be that way.
The gender pay gap in the EU stands at 14.1% and has only changed minimally over the last decade. It means that women earn 14.1% on average less per hour than men…There are considerable differences between EU countries. The gender pay gap ranges from less than 5% in Luxembourg, Italy and Romania to more than 19% in Austria, Germany, Latvia and Estonia. In most countries, the gender pay gap is decreasing, whereas it is even growing in a few.”
The unadjusted pay gap in 2019
The difference between average gross hourly earnings of male and female employees as % of male gross earnings
Source: European Commission
The right approach, tools, and support
Syndio’s Workplace Equity Platform handles the complexities of measuring, tracking, and reporting all facets of workplace equity — from diversity to pay equity to equal access to opportunities. With Syndio, you no longer have to worry about outdated pay gap analyses or going through months of lengthy back and forth with a legal or consulting team.
PayEQTM
Rapidly analyze and resolve pay disparities with an enterprise-grade platform designed for global compliance.
Pay FinderTM
Ensure starting salaries are fair and equitable with real-time insights and recommendations for every new hire.
OppEQTM
Measure equity in hiring, promotions, and retention, benchmark against available talent, and make progress on diversity goals.
Expert Advisors
Using proven practices and methodologies, partner with our team of experts, who provide ongoing expert best practice, data science, and communications consulting and support.
Customized Communications Package
Improve your brand reputation and easily comply with reporting requirements with Syndio-led strategy and content advisory sessions, tailored country-specific regulation reports and disclosures, public statement and/or narrative to accompany public reporting, and much more.
Fair Pay Certification
Once you achieve workplace equity, Syndio provides a fast-track to gaining third party certification through the Fair Pay Workplace, which validates your status as an equitable organization to employees, investors, and customers.
Additional Resources
Access to resources to keep you updated on the latest country-specific regulations and ESG disclosure requirements, workplace equity trends, best practices from your peers, workplace equity guides and playbooks, informative and engaging events, webinars and much more.
A trusted workplace equity partner
Today, more than 200 industry leaders — including 30% of Fortune’s Most Admired Companies — rely on Syndio to analyze workplace equity for over 2.6 million employees across the globe.
Having a third-party partner like Syndio has allowed us to comfortably focus not on the technology and the stats behind the tool itself, but on our strategy and how we approach this for employees. We rely on Syndio to help drive the machinery behind it.”
Stan Dunlap
EVP of Global Rewards
Salesforce
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