Equal pay: Is your company ready?
18:23 minutes listen, Podcast in Swiss German
In this episode, Michael Herzog and Beatrice Loch talk about the new equal pay gap analysis, equal pay certification and why it’s relevant.
"We’re seeing a growing demand for equal pay certification, particularly from larger companies. In the future, we’ll see it become a standard to enhance reputation with employees and investors."
Insights and takeaways
- For the first time, companies in Switzerland must conduct an equal pay gap analysis by June 2021. According to the Gender Equality Act, the analysis must be verified by a qualified specialist by 30 June 2022 and the results must be communicated to employees by 30 June 2023 and published in the annual financial report (listed companies).
- If a company’s pay gap is greater than the five percent tolerance level, companies must repeat the analysis in four years.
- While voluntary certification doesn’t replace the equal pay analysis, it does go further – focusing on a company’s long-term commitment to equal pay. Certification impacts employee attractiveness, demonstrates a commitment to good governance and enhances reputation with investors.
- Michael Herzog, Partner, Sector Head Healthcare, Head Audit Not-for-profit organizations and public sector, KPMG Switzerland