Iceland’s New Policy is Closing the Gender Gap

by

The Nordic nation leading the way.

Reykjavik, Iceland

Iceland aims to be rid of its gender pay gap by 2022, and the government brought in new legislation on International Women’s Day to make it so. This will mean companies of 25 staff or more will need to obtain certification demonstrating pay equality. And while similar schemes have been introduced in Switzerland and the US state of Minnesota, Iceland is the first to enforce it as a mandatory requirement. The Nordic nation – which previously actioned a minimum 40 per cent quota for women on boards at companies with more than 50 staff, and has been ranked the best country in the world for gender equality, eight years in a row – currently sees female workers earning 14 to 18 per cent less than their male counterparts. In the US, the pay gap sits at a little over 70 cents to the dollar.

This is an extract from Collective Hub Issue 45. For the full article, buy your copy here.

 

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