Ep#112 | How Reykjavik Energy Closed the Gender Pay Gap
Vidir Ragnarsson is an equality advocate and through his work he has worked with companies to develop ways to manifest more equal and better functioning workplaces. Vidir has been working in the role of Group Head of People Analytics of Reykjavik Energy in Iceland since 2011.
Vidir is responsible for projects supporting the company as a diversity leader. He uses HR and financial data to create pay structure for a company. Model that represent what the company pays for. Statistical analysis is then used to measure difference in pay for different groups, genders, origin and ethnicity.
In a consulting role Vidir has helped develop a software with a start-up company PayAnalytics. This software measures demographic discrepancies in pay. It takes the pay structure and offers recommendations on who should get a pay raise and by how much. The software helps decision-making in favour of equality, it shows the impact of hiring and promotions on the gender pay-gap.
These are some of the examples Vidir has been developing ways to help companies work in favour of equality. Vidir encourages companies to use data and analytics to target ways to work with equality. Vidir's work and Reykjavik Energy's achievements in equality have gained worldwide attention and have been covered in various media such as The Economist, The Guardian and 60 minutes Australia.
Vidir has presented ways to deal with pay gap and approaches in equality work in various conferences. At Unleash World, this October, Vidir presented ways to use technology to eliminate gender pay gap and paying in fair way. Vidir has been addressing these issues in various Equality centred conferences. Vidir was one of the keynote speakers at the Icelandic HR Day last October, the annual gathering of HR professionals. On the occasion Vidir discussed the role of data driven decision-making and how different views and priorities need to be considered for richer decision-making.
Vidir is on a mission to create a more equal and better functioning workplaces. He has a vision of helping companies set goals and work towards more diverse and more inclusive workplaces. Using data, publishing data to assess the current status and working from there to mark steps toward the goal.
Get in touch with Vidir through through social media:
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How Reykjavik Energy Closed the Gender Pay Gap
Some great takeaways from Vidir:
Just make a decision
Socitiy sees at men as more powerful
We have to look at your implicit biases - your boxes
Companies have roles in making their people feel valued and develop them to be the best version of themselves
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