PayAnalytics becomes the latest member of EPIC

We are proud to have been added as the 47th member of EPIC (Equal Pay International Coalition) where we join members ranging from governments and international organizations to private sector initiatives.

Equal Pay International Coalition

PayAnalytics is a pay equity software platform used in 40 countries on six continents to eradicate pay gaps. Our approach to pay equity is to provide a global solution that fulfills different national requirements simultaneously.

The PayAnalytics solution is decision-driven, grounded in scientific research, and focused on making pay structures fair and equitable. It gives organizations a clear plan for eliminating any inequities found. When the software finds a pay gap, it provides concrete suggestions for changes to individual employees’ salaries to eliminate the gap. Once the pay gap has been closed, the solution provides ongoing decision support to ensure it does not reappear.

EPIC's mission is to eradicate pay disparities between the genders by 2030.

We have a vision of an equal and inclusive world of work, in which women and men receive equal pay for work of equal value across all countries and sectors. In line with the United Nations Agenda for Sustainable Development, we intend to make this vision a reality by 2030. By 2030, we want to see universal ratification of ILO Equal Remuneration Convention, 1951 (No. 100) and visible efforts and results by governments and the private sector to implement equal pay initiatives.
— From "Our Vision" on

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Diversity-focused job platform - A Coffee Talk with Rena Nigam

In this week’s Coffee Talk, Margrét is joined by Rena Nigam, CEO of Meytier, an AI-enabled, diversity-focused job platform that aims to make hiring more equitable, with a focus on gender diversity. Here are some highlights from Margrét and Rena’s conversation.

PayAnalytics' reporting for Canada's Pay Equity Act

At PayAnalytics, we often talk about equal pay for work of equal value. Canada’s Pay Equity Act, implemented August 2021, takes a unique approach to achieving this objective. Typically, pay equity requirements focus on how men and women doing similar jobs are paid, but Canada now focuses on the value of the job to the employer.

Allianz's equal pay project wins the German HR Management prize
Árangur viðskiptavina

Allianz's equal pay project wins the German HR Management prize

The 2022 German HR Management Prizes (Personalwirtschaftspreis) were awarded in Cologne at the beginning of September. Allianz, a global insurance company based in Germany, won the first prize in the HR Tech and Digital category for its global approach to closing the equal pay gap globally. This project ensures equal pay for over 100,000 employees in more than 70 countries, meaning that at Allianz insurance companies women and men are paid equally for equal or comparable work.

Using technology to achieve pay equity

"With the right tools, supported with the right data, we can bring about workplace transformation and pay equity."

In the latest issue of Dynamic Magazine, our founder Margrét shares valuable insights for leaders using data analytics or AI on their pay equity journeys.

People analytics as a tool to improve pay equity — a blog post for Trend Report

In a recent blog post for the German HR magazine Trend Report, PayAnalytics Co-founder Margrét Bjarnadóttir explained how important it is to recognize the limitation of AI-based HR tools when making important decisions about hiring, compensation, promotions, and training opportunities. Even when workplaces do strive for equity, their data can still reflect historical biases and discriminate on the basis of ethnicity, gender, and class. Hence, to improve pay equity, companies need to find the right tools, identify where there are potential biases, and take the necessary steps to eliminate those biases.

The Nordic DEI Paradox - Not so Paradoxical?

Margret, our co-founder, Dr. Marie Louise Sunde, Founder and CEO of Equality Check, and Tuula Rytila, Corporate Vice President at Microsoft Digital Stores had an inspiring discussion on a panel on gender equity at the Nordic Innovation Summit two weeks ago. The panel was called "The Scandinavian DEI Paradox—Not So Paradoxical?" referring to the fact that while the Nordics consistently score at the top of every equality scale, women are still underrepresented on boards and in top management.

California strengthens its pay equity requirements

California, the first U.S. state to pass a law on pay data reporting, is considering proposed legislation taking the requirements of the original bill even further. Senate Bill 973 on pay equity was passed in September 2020 and requires large employers to provide data on employees by race, ethnicity, and sex in the ten job categories and pay ranges used by the U.S. Bureau of Labor Statistics. The first data reports were submitted to the Department of Fair Employment and Housing (DFEH) in March 2021.

VÍS — Working towards gender equality
Árangur viðskiptavina

VÍS — Working towards gender equality

VÍS, the largest insurance company in Iceland, offers comprehensive insurance solutions in the consumer and corporate sectors. They have close to 200 employees, mainly in Reykjavik and in different field offices around the country.

What happens in organizations when pay becomes more transparent?

Pay transparency has been regarded as an essential device to address and close pay gaps resulting from demographics, such as gender and race. New legislation, worldwide, aimed to address the gender pay gap - has in common an emphasis on more transparency in pay and pay decisions.

What Italy's new equal pay legislation means for Italian companies

On December 3, 2021 Italy signed a new equal pay law (Law 162/2021) that seeks to tackle the pay gap between men and women and encourage the participation of women in the labor market. The law introduces some important amendments to the Italian Equal Opportunity Code (Legislative Decree 198/2006), which prohibits all direct and indirect remuneration discrimination for the same job or a job considered as having the same status. The new law, focusing on transparency and rewards, is consistent with the Italian National Recovery and Resilience Plan (PNRR), which contains, among other things, a National Strategy for gender equality for the years 2021-2026.

How to use use People Analytics to Build an Equitable Workplace

Harvard Business Review just published this article, which is written by two of PayAnalytics' founders, Professors Margrét Bjarnadóttir and David Anderson, along with Professor David Gaddis Ross. It discusses how automation is changing HR and what we need to be aware of when applying Automation and AI in People Analytics.

Vörður hlýtur Hvatningarverðlaun jafnréttismála árið 2021

Það gleður okkur hjá PayAnalytics alltaf sérstaklega að fá fréttir af framúrskarandi árangri viðskiptavina. Á dögunum hlaut tryggingafélagið Vörður Hvatningarverðlaun jafnréttismála 2021 með áherslu á kynjajafnrétti. Verðlaunin eru veitt árlega til fyrirtækis sem stendur sig vel þegar kemur að jafnréttismálum og veitir öðrum innblástur til að gera slíkt hið sama. Við óskum starfsfólki Varðar innilega til hamingju með árangurinn.

Margrét Vilborg stofnandi PayAnalytics í viðtali við Morgunvaktina á Rás 1

Einn af stofnendum PayAnalytics, Margrét Vilborg Bjarnadóttir, mætti í Morgunvaktina á Rás 1 í morgun og spjallaði við þau Björn Þór Sigbjörnsson og Guðrúnu Hálfdánardóttur. Hún talaði um launajafnrétti, vegferð PayAnalytics og um nýlega 450 milljón króna fjárfestingu Eyris Vaxtar og Nýsköpunarsjóðs í PayAnalytics. Hún fór yfir hvernig fjárfestingin verður nýtt til að mæta mikilli eftirspurn með því meðal annars að tvöfalda þróunarteymið og byggja upp alþjóðlegt sölu- og markaðsteymi.

Can Pay Gap Analysis be the driver of equal opportunities in the workplace?

The unjustified pay gap between men and women is still present, and it seems that it will not go away without some focused efforts. Although countless studies and reports show that the gap is there, many still do not believe it impacts their own organisation. The EU Commission is increasingly communicating that the issue must be addressed. Some countries have begun the journey and have insights to share. Data analysis to determine the gap and structured implementation of measures to close the gap is increasingly used.

Dr Margrét Vilborg Bjarnadóttir will participate in this important event on the 29 June.

California Pay Data Reporting

California Pay Data Reporting

California Pay Data Reporting (SB 973) requires large employers to report pay and specific other data to the DFEH (Department of Fair Employment and Housing) by March 31, 2021, and annually after that.

Viðurkenningarathöfn vegna alþjóðlegrar jafnlaunavottunar

Þann 17. mars nk. verða í fyrsta sinn í sögunni veitt verðlaun fyrir árangur í alþjóðlegri jafnlaunavottun, Universal Fair Pay Check. Þessi alþjóðlega vottun felur í sér að árangur í jafnlaunamálum er borinn saman á samræmdan hátt milli fyrirtækja í ólíkum löndum.

Consulta la conferencia que realizó Laura Bayés Sánchez sobre cómo PayAnalytics proporciona las medidas necesarias para la nueva legislación española

En la conferencia se analiza la nueva situación laboral que la publicación del Real Decreto 901/2020 y 902/2020 del 13 de octubre dejará en las empresas españolas. Así mismo, se examinan los problemas que derivan de estas normativas y la manera en la que PayAnalytics los aborda y proporciona soluciones rápidas, eficaces y sencillas.

Companies in Spain are now obligated to take action to ensure equal pay for work of equal value

Companies in Spain are now obligated to take action to ensure equal pay for work of equal value. DireACTIVAS, one of our partners in Spain, wrote an article (in Spanish) on the new legislation and the potential impact it will have on equality in Spain. We are happy to assist Spanish companies in fulfilling the requirements of the new legislation - and our solution is of course also in Spanish!

Margrét Bjarnadóttir will participate in a Reykjavik Global Forum 2020 digital session

Come and join us virtually for a conversation about equal pay: the fast changing legislation around the world, the role of analysis and data driven decision support, the equal pay journey and key levers to drive change - all packed into 90 minutes.

Margrét Bjarnadóttir from PayAnalytics will participate in a Reykjavik Global Forum 2020 digital session on Wednesday 11th November 09:30 UTC.

The name of the event is A Fair Diagnosis: It’s time to close the wage gap - FPI Lab and you can register using the registration link below.

Íslensk fyrirtæki í lykilhlutverki í nýrri alþjóðlegri jafnlaunavottun

Orkuveita Reykjavíkur og Landspítali munu ásamt nokkrum evrópskum brautryðjendum taka þátt í alþjóðlegri jafnlaunavottun á vegum Fair Pay Innovation Lab (FPI) í Berlín. PayAnalytics, sem gerir útbreiddasta jafnlaunahugbúnað á Íslandi, er samstarfsaðili FPI í verkefninu. Stærsta fyrirtækið sem tekur þátt í verkefninu er tryggingarfyrirtækið Allianz í Þýskalandi en það minnsta er markaðsstofan Rheingans Digital Enabler, þar sem starfsfólk telur einungis nokkra tugi.

How data and analytics are essential to the process of closing pay gaps — a blog post for PRCA

In a recent blog post for PRCA PayAnalytics Co-founder and Chairman Margrét Bjarnadóttir explains in a nutshell how data and analytics are essential to the process of closing pay gaps – and keeping them closed. She explains, among other things, the two types of pay gaps most commonly mentioned in the press and the difference between the two. The blogpost also embeds a video where Margrét amongst others discusses the role of ethics and fairness when closing pay gaps. The discussion was a part of the PRCA Ethics month.

Margret Bjarnadottir wrote for Ms. Magazine: We’re Not Waiting 200 Years to Close the Gender Pay Gap

The World Economic Forum estimates that it will take over 200 years to close the gender pay gap. No one should have the patience to wait that long. How can we accelerate change? The answer may lay in data and models with a good dose of transparency.

The journey starts with gathering the data and understanding the pay structure. Then companies move on to identifying areas for improvement and eliminating unexplained demographic pay gaps through corrective action—in other words, ensuring equal pay for equal work.

Viðtal við Víði Ragnarsson í hlaðvarpsþættinum Á Mannauðsmáli

Unnur Helgadóttir stjórnandi þáttarins á Mannauðsmáli tekur í sjöunda þætti þáttarins viðtal við Víðir Ragnarsson hjá Orkuveitu Reykjavíkur. Víðir er sérfræðingur í viðskiptagreind á mannauðssviði OR. Víðir fer meðal annars yfir það hvernig Orkuveitunni tókst að eyða launabili kynjanna og hvað þarf til að halda stöðunni þannig.

Nýsköpunarsjóður atvinnulífsins fjárfestir í PayAnalytics

Nýsköpunarsjóður atvinnulífsins hefur fjárfest  fyrir 65 milljónir króna í hugbúnaðarfyrirtækinu PayAnalytics . 

PayAnalytics hefur þróað jafnlaunalausn í skýinu sem hefur vaxið hratt á undanförnum árum. Lausnin er nú þegar notuð af rúmlega 50 fyrirtækjum og stofnunum á Íslandi sem samanlagt hafa yfir 30.000 starfsmenn, eða um 14% af íslenskum vinnumarkaði.

42% of organizations are planning for pay equity adjustments in 2020

42% of organizations are planning for pay equity adjustments in 2020 according to the recently published @WorldatWork 2019-2020 Salary Budget Survey. Is yours one of them? PayAnalytics can help. Our customers use PayAnalytics to assist them in every step on the way towards a transparent and fair pay structure. Our software solution recommends individual raises to close the gap, quickly detects outliers, gives an overview of the cost to help with the budgeting, and so much more.

Viðtal við stofnanda PayAnalytics í Kjarnanum

Margrét Vilborg Bjarnadóttir, stofnandi íslenska sprotafyrirtækisins PayAnalytics, hlaut nýverið aðalverðlaun alþjóðlegs þings Heimssamtaka frumkvöðla- og uppfinningakvenna (GWIIN). Hún ræddi við Kjarnann um hvernig stærðfræðin getur verið notuð sem vopn gegn launamun kynjanna, hvernig hægt er að hjálpa fyrirtækjum að lækka launabil sitt og karllægu akademíuna í Bandaríkjunum.

Að beita gagnadrifnum aðferðum til að loka launabilum | grein fyrir insideBIGDATA

Margrét Vilborg Bjarnadóttir (@mvilborg2) stofnandi @payanalytics skrifaði gestagrein í @insideBigData um hvernig eigi að beita gagnadrifnum aðferðum til að loka launabilum. #PayGaps

"Demographic pay gaps, including the gender pay gap, are the result of more complex factors than just a desire to minimize payroll expenses. They stem from unconscious biases and processes that are better suited to one group compared to another. And, as multiple executives have found out, good intentions and “mindfulness” are not enough to eliminate the gaps."

Why Companies' Attempts to Close the Gender Pay Gap Often Fail

PayAnalytics co-founders David Anderson and Margrét V. Bjarnadóttir wrote an article together with Cristian Dezso and David Gaddis Ross for Harvard Business Review about closing the gender pay gap.

Gender pay equity has become a big point of contention at many companies. Not only have politicians and other public figures spoken out against the gender pay gap, but there has also been a rising tide of high profile lawsuits targeting major employers, most notably in the U.S., with all the bad publicity and financial liability they entail.