Landsbankinn's human resources policy reflects the Bank's emphasis on creating a positive work environment, characterised by employee satisfaction and robust information sharing. Gender equality was a prominent issue in 2018, culminating in the Bank’s participation in Capacent’s Equality Indicator and equal pay certification.
Landsbankinn has for several years emphasised equal pay and equal job opportunities, and sought to ensure that men and women receive equal pay for equally valuable work. Landsbankinn has twice been awarded the golden seal of PwC's Equal Pay Audit and current work on legal requirements of an equal pay certification follows naturally as the next step. Participation in Capacent’s Equality Indicator (Jafnréttisvísir) in 2018 takes the Bank beyond the scope of equal pay, with all employees participating in the project.
Equal pay certification was codified in June 2017 with amendments to the Act on Gender Equality. The Act provides that equal pay certification shall be based on the Equal Pay Standard ÍST 85. The key aim of equal pay certification is to counteract a sex-based wage gap and boost equality of the sexes in the labour market. Implementation of an equal pay standard at Landsbankinn in fact means that the Bank has enacted a control system which ensures that handling and decisions about wages are based on objective factors, free of gender-based discrimination.
Work on implementation of equal pay certification was on-going throughout the year and the Bank sought assistance from consulting firm Attentus in the preparatory phase. Final review of Landsbankinn took place in January 2019 and was carried out by BSI in Iceland, a professional certification body. The final review confirmed compliance with all provisions of the standard and recommended that Landsbankinn be certified under the Equal Pay Standard. Final confirmation of the certification is expected to be forthcoming in March of 2019.
The Standard provides for calculation of gender-based discrepancies in wages within the Bank and this will become a part of the Bank’s work procedures. Landsbankinn will regularly inform its employees of the results and publicly in the Bank’s annual Report on Social Responsibility as well as the Annual Report. Regression analysis of December 2018 wages reveals a 1.4% gender-based wage difference, men earning more than women.
|Education in figures|
|2,800||Participants in educational events at Landsbankinn in 2018 numbered 2,800.|
|137||137 educational events were offered at Landsbankinn in 2018.|
|3||Each Bank employee attended an average of 3 events on the education programme.|
|4.5||Each Bank employee completed 4.5 electronic courses on average.|
The aim is to provide a work environment that encourages employees to seek new knowledge and to share their skills. Employees are encouraged to seek instruction and training both from external parties and in-house.
At Landsbankinn, employees have access to a diverse education programme. In 2018, around 137 educational events were held and they were attended by around 2800 participants. Each employee attended an average of 3 events on the programme.
A new education system was taken into use in 2018, allowing the Bank to boost its offering of digital instruction and training. This provides employees with better access to in-house education and the option to attend courses whenever and wherever. The education programme included 24 on-line courses which were completed by 4600 employees. Each employee completed 4.5 electronic courses on average.
The education programme includes courses that are obligatory for employees. Not counting obligatory courses, 88% of employees attended some job-related instruction offered by the Bank.
Employees not only show great willingness to attend offered courses but are also prolific in sharing knowledge to their peers. A total of 40 employees were active as instructors or participated in creating instruction material for on-line courses in 2018.
Landsbankinn education programme was awarded the European Quality Mark (EQM) in 2018. EQM is a quality assurance mark for all providers of non-formal learning throughout Europe. EQM is a recognition of the quality of the Bank’s education programme in recent years, the continuing effort to improve, and the objective of maximising the efficacy of instruction on offer.