Global Gender Pay Parity
In 2020 we set a global gender pay parity target for 2025. Since then, we have conducted a global review across all internal professional managerial levels to understand whether women, on average, were paid the same as their male counterparts for the same roles. We are pleased to share that our global gender pay gap across these two levels has decreased from 5% in July 2021 to 1.3% in July 2022.
In 2021 we have implemented a revised integrated global compensation structure that, in combination with our talent management strategies, allows the organization to measure our equity pay practices. As a next step, we are developing a global job catalogue to ensure we accurately and consistently calculate salaries for all new hires, promotions, and job changes.
We are proud of the progress we have made so far with this group, and we are in the process of implementing a new strategy to address our pay parity beyond this level, focusing on our non-desk teams first. This includes doubling down on coaching and education offered to all people managers in the lead up to annual compensation cycle. This will reinforce our pay for performance philosophies, help reduce existing pay gaps and prevent future inequities against internal peers and the external market. In addition, we are also in the process of establishing in-depth data verification frameworks that will enable us to collect and track all our pay parity data.