All over the world, fair pay is moving higher up the agenda for both companies and politicians – even, and especially, in times of crisis. But why is fair pay so crucial for a sustainable corporate future? Why does closing the gender pay gap have such a positive effect on other business areas? And how can a fair remuneration strategy be implemented regardless of the surrounding legislation?
These are precisely the questions we want to address on 23 October 2020 from 10 to 11 am CEST in our first Digital Follow-up Circle.
Concentrated expertise on remuneration
In particular, we are looking forward to having two experts who know exactly how fair pay works in international practice: Marcus Priest from Novartis International AG and Lúvísa Sigurðardóttir from Landspitali in Iceland will share with us how they implemented their remuneration strategies in two initiatives. At the 2018 UN General Assembly, the biotechnology and pharmaceutical company Novartis, as a global player, committed itself to implement fair pay. The company is also a corporate member of the Equal Pay International Coalition (EPIC) and dedicated to increasing the constructive exchange of best practices in the business world. Marcus Priest, Global Head of Reward at Novartis, explains: “Through our commitments, we aim to inspire other organizations to take concrete actions so that together we can bring about meaningful change to societies around the world.”
Simply good business
The Landspitali hospital in Reykjavík, on the other hand, shows how wage justice can be implemented in the healthcare sector and how effective clear policy guidelines are – no other country in the world has such ambitious goals and effective laws as Iceland. Lúvísa Sigurðardóttir describes herself as a great fan of human rights: “Fixing inequality and providing equal opportunities need to be addressed on a global level. In my mind, it’s one of our fundamental human rights to get fair pay for the work we do and equal opportunity to succeed at our job, regardless of age, gender, or belief system.” But Sigurðardóttir also loves numbers. As Quality Director for Equal Pay, she clearly knows: “No matter if it’s a small business or a global corporation, the key to success is a committed workforce, and when your workforce knows that they get fair pay and equal opportunity to succeed, they will commit. It’s simply good business.”
But how can companies identify appropriate measures? How can their success be measured at individual locations and at the international level? In this digital event, both companies showcase their commitments around fair pay, their path towards a diversified workforce, and the challenges they came across during this journey. The exchange of ideas between our experts from business, academia, and politics in English should be exciting.
We also have some new ideas to share – especially our brand new Universal Fair Pay Check: The three-stage certification process makes it easier for organizations to implement fair pay quickly and combines the best legislative initiatives in the world in a single procedure. Any organization can apply for our check – regardless of size or location. An easy step for companies, a revolutionary step for fair pay. On this occasion, we will proudly present the details!
If you would like to know which solutions and best practice examples we are exploring, please subscribe to our newsletter.
The program and our speakers:
Welcome and Introduction of the Universal Fair Pay Check
Henrike von Platen, CEO / Founder, FPI Fair Pay Innovation Lab
Equal Pay Certification: The Case of Landspitali in Reykjavík
Lúvísa Sigurðardóttir, Quality Director for Equal Pay, Landspitali – The National University Hospital of Iceland
Fair Pay at Novartis
Marcus Priest, Global Head of Reward, Novartis International AG
Henrike von Platen
Henrike von Platen founded the FPI Fair Pay Innovation Lab in 2017 to help companies and organizations achieve sustainable remuneration strategies. Her goal: fair pay for everyone. For many years, this business informatics scientist and economist has fought for economic independence for people all over the world. She founded a women's investment club, is a member of the university council and lecturer at the Munich University of Applied Sciences, and has been actively engaged for many years in promoting more women in leadership. From 2010 to 2016 she was president of Business and Professional Women Germany and patron of the German Equal Pay Day campaign. She also initiated a nationwide petition for equality on pay slips in 2016.
This financial expert is convinced that money is the key to equal opportunities. She is the author of the book “Let’s talk about money – the fast track to equality” and has received several awards for her work.
Lúvísa Sigurðardóttir, Quality Director for Equal Pay, Landspitali – The National University Hospital of Iceland, is an experienced project manager, speaker, and team leader, with an MS degree in Engineering, specializing in Quality and Value Engineering.
She focuses on value-adding opportunities and minimizing waste, following Value Engineering procedures. Her goal is to empower organizations to run their own sustainable management systems to suit their size and field of work. She builds up management systems using formal standards or by focusing on streamlining individual procedures – all dependent upon what fits and gives the best possible value for the organization in question. She enjoys interacting and exchanging ideas with peers, specializing in strong leadership, and engaging all team members for effective results when she runs workshops or at seminars.
Marcus Priest, Global Head of Reward at Novartis International AG, is passionately committed to fair pay practices, and at Novartis, he endeavors to build and maintain a corporate culture one can be proud of. He has worked in various HR and Reward roles at Novartis, and in 2019 he moved to Switzerland with his family in order to take up his current role as Global Head of Reward, Novartis Oncology, and as General Manager at Novartis for the EPIC commitments.
FPI - What we do
Why does the gender pay gap prove so intractable? What is standing in the way of fair pay for all? What do companies need to do in order to put sustainable pay strategies into practice?
Knowing about the pay gap and being willing to rid the world of the unjust state of affairs are evidently not enough to actually ensure fair pay. It is right here ...