GRI 202: Market presence
Explanation of the material topic and its boundary
The empowerment of women contributes significantly to market presence in terms of the economic effect on local societies. Women’s empowerment is essential to expanding economic growth and promoting social development.
Equal treatment of women and men is not just the right thing to do – it is also good for business. We implement policies and programmes that are consistent with promoting equal opportunities for all: the full participation of women at Givaudan makes sound business sense now and in the future.
A broad concept of sustainability and corporate responsibility that embraces women’s empowerment as a key goal will benefit us all.
We support women’s empowerment and the associated economic growth and development of societies through compensation policies including the ratio of remuneration of women to men.
This is a priority topic at Givaudan and every year we conduct studies in each of our key markets where we operate to monitor gender pay equity, identify any outstanding pay gaps and ensure they are promptly addressed.
These studies are conducted according to the methodology of the Swiss Federal Office for Gender Equality with a view to ensuring equal pay for equal responsibilities. Results for the Company globally show that the average base salary difference between men and women is 1.4% for equivalent roles and skill sets. For total cash compensation (fixed and variable pay) the difference is 1.6%, remaining stable from 2018.
Ratios of standard entry level wage by gender compared to local minimum wage
Wages are managed locally with a global oversight to ensure competitive and equitable practices. In all cases, Givaudan pays above minimum wages as stipulated by law or applicable collective agreements.