Equal Pay Policy

The goal of Strætó is to be a sought-after place to work that attracts and retains competent personnel where everyone will have an equal opportunity at work.

Strætó is committed to ensure that all employees will receive equal pay and equal terms and conditions for the same or equally valuable work. And in accordance with the Strætó Equality Policy when determining the pay and the fringe benefits of the personnel it must be carefully observed that there is no discrimination based on gender or other unobjective factors.

The Equal Pay Policy builds up the mission and quality of the services provided by Strætó and is modelled on the company’s goals and plans.

Pay and salary decisions shall be transparent, objective and well-founded. All jobs are evaluated systematically according to a job evaluation system and in addition to this the skills, know-how and performance of the personnel is taken into consideration.

Strætó commits to:

  • Operate according to a certified management system which is based on the Equal Pay Standard ÍST 85, and maintain equal pay certification.
  • Perform an annual wage analysis by comparing equally valuable jobs with the goal to identify any wage differences based on gender, origin or other unobjective premises.
  • Respond to irregularities and to prevent that decisions concerning pay involve direct or indirect discrimination
  • Promote constant improvement and control of the management system by the use of annual internal audits and screening by the management.
  • Comply with current relevant laws, regulations and union labour contracts as is at any time.
  • To present the Policy and to inform the personnel about the situation regarding equality and equal pay issues on a yearly basis.
  • That the Policy will be accessible to the public on the Strætó website.

The Director of Strætó is responsible for the Equal Pay Policy and the Equal Pay system of Strætó. The head of the division of human resources and quality is the representative of the senior management and is responsible for implementation and maintenance in accordance with the Equal Pay Standard ÍST 85. The head of the division of human resources and quality is responsible for reporting to the senior management about the Equal Pay system, its quality and effectiveness as well as recommending any corrective action that needs to be taken.

The Equal Pay Policy is an integral part of the Strætó bs. Equality Policy.