Vinnslustöðin's equal pay policy
This equal pay policy is intended to support the successful operation of the company. The equal pay policy covers Vinnslustöðin's employees and subsidiaries.
Vinnslustöðin's policy is that all employees enjoy equal pay and the same terms for the same or equivalent jobs, so that there is no unreasonable wage difference.
The aim of the equal pay policy is to ensure that women, men and people with neutral gender registration in the National Registry have equal opportunities at Vinnslustöðin, to prevent the gender pay gap and that Vinnslustöðin is a sought-after workplace in the minds of all sexes.
In order to follow Vinnslustöðin's equal pay policy, the company obliges to:
1. Implement, document and maintain an equal pay system in accordance with the requirements of the equal pay standard ÍST 85 and obtain certification in accordance with Act no. 150/2020 on equal status and equal rights for the sexes. Pay salaries that take into account the demands of the job on knowledge, skills and responsibilities.
2. Assess the scope and nature of work that affects salaries, such as experience, knowledge, skills, responsibilities, workload, manpower, collaboration skills, management and tasks.
3. Determine the salary in accordance with the above criteria for knowledge, skills and responsibilities in the job.
4. Perform an annual wage analysis.
5. Respond to unexplained wage differentials through continuous improvement and monitoring.
6. Perform internal audit and management reviews.
7. Comply with laws, rules and wage agreements in force at any given time and confirm annually by the Executive Board that they are being complied with.
8. Present annually the results of wage analyzes and equal pay policies for the company's employees. The policy shall also be accessible on the company's website.
The Executive Board of Vinnslustöðin is responsible for defining the company's strategy. The Head of the Human Resources Department is responsible for the implementation, reform and adherence to established standards, as well as ensuring that managers know the policy and meet all conditions.
4. RESPONSIBILITY AND AUDIT
The Executive Board of Vinnslustöðin hf. is responsible for this policy.
This equal pay policy was originally approved by the Executive Board of Vinnslustöðin on 22.10.2019. The equal pay policy shall be reviewed every three years.
This equal pay policy was revised on 08.10.2021 and approved by the Executive Board.