Prizes and equality labels to help companies close the gender pay gap
Equality labels and awards exist in some European countries that focus on several of the factors that cause the gender pay gap.
For example, in Switzerland companies can be awarded an equal pay label if they show they have introduced a fair wage policy between women and men. The equal-salary scheme is run in cooperation with the Geneva University Employment Observatory which analyses companies’ salary data. In the Czech Republic and Slovenia prizes are awarded to companies which take steps to improve the work-life balance of all employees and to increase the number of women in management positions. The Company of the Year: Equal Opportunities award in the Czech Republic and the Women Managers Friendly Company Prize in Slovenia are both established competitions that require companies to provide extensive information on their internal policies and structures which can impact on gender equality.
Taking part in a competition or applying for a label can boost a company’s image among its customers and potential employees. As companies receive feedback on their internal policies and structures during the application process, participating can also inspire change. Finally, as information on successful companies and their policies is often made public, awards and labels can also help foster the exchange of good practices that promote gender equality between companies.