At Schneider Electric, we are proactively moving the needle on pay equity, which takes focus and action across many levels. To that end, we had set a clear target to attain and maintain pay equity at below 1% difference between females and males by 2025. We achieved this ambition in 2024, ahead of schedule.
We reached this target with a unified global approach that addresses and prevents gaps through:
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providing all decision-makers with better insights from improved analytics and reporting
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implementing a clear governance model
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integrating pay equity into our performance and salary review processes
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a global standard grouping positions based on job family and level
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comparing individual salaries to the median salary of a person’s group of the opposite gender.
Locally, we’re delighted to have seen a reduction in gender pay gap reporting measures (as defined by the Workplace Gender Equality Agency) in recent years.
Globally, by 2025 we have committed to 50% women in hiring, 40% women in front-line management, 30% women in leadership teams, and 50 million people with access to green electricity.
More broadly:
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we treat all employees fairly and equitably
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we base our rewards on the collective success of our business and continuous improvement
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our rewards strategy distinctly supports and aligns with our values and culture
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we proactively identify, reward, and retain key talent
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we reward competitively within the relevant local market
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we reward individuals for their achievements on a pay-for-performance basis.
We also promote gender equity in pay and a variety of other ways through inclusion-centred hiring practices, policies, and benefits, and providing learning and career opportunities. We are focused on training and developing early career females – at all levels of our organisation. By doing this, we’re also contributing to closing the gap in market overall.
Inclusion is one of our IMPACT values, the others being mastery, purpose, action, curiosity, and teamwork.
Our diversity, equity, and inclusion initiatives have received wide acclaim and awards including recognition by the World Economic Forum as a Global Parity Alliance Diversity, Equity and Inclusion (DEI) Lighthouse. Schneider Electric Australia is also proud to have been recognised as an inclusive employer by the Diversity Council of Australia and our recognition by WORK180 has been continuous since 2021.
Additionally, Schneider Electric is one of 418 companies across 45 countries and regions to join the 2022 Bloomberg GEI, which measures gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, anti-sexual harassment policies, and pro-women brand. Schneider Electric scored above average, with its highest score in the ‘equal pay and gender pay parity’ category.
We are proud that our efforts to date have been, and will continue being, acknowledged by globally and locally recognised authorities supporting people, workplaces, and sustainability. However, we are also bound by a desire for advancement in diversity, equity, and inclusion that sees us continuously striving to do good and be better to achieve the best we can for the people we work with and for.