Equal pay policy

Approved 5 th of April 2022

Coripharma strives to ensure equal pay and equal terms for all employees for the same or equivalent jobs, so that there is no pay gap. The scope of the equal pay policy covers all employees.

The goal for Coripharma is to be a sought-after workplace where all genders have equal opportunities in work.

Management undertakes to comply with the laws and regulations that apply to the business. Coripharma has documented, implemented, and is committed to maintaining and continuously improving the functioning of the equal pay system that meets the requirements of the ÍST85: 2012 standard.

An agreement has been reached with a certain certification company to conduct an annual audit of the equal pay policy and system Coripharma. If the company makes any comments at any time regarding the salary composition of any jobs, the composition will be reviewed following suggestions and corrected.

Coripharma has in this context implemented procedures and defined criteria for determining wages, where everyone is paid for their work based on its value, regardless of gender or other unreasonable reasons. Coripharma undertakes to implement the equal pay policy in all respects.

Coripharma undertakes to:

Implement a certified equal pay system based on the equal pay standard ÍST 85, it will be documented and therefore maintained.

  • Perform a wage assessment once a year comparing jobs of equal value and checking whether there is a difference in pay by gender and presenting the main results to employees
  • Respond to unexplained wage differences
  • Make an internal audit
  • Conduct annual management reviews where the effectiveness of the system is assessed and to set measurable goals for the coming years
  • Comply with the relevant laws, rules and wage agreements that are in force at any given time according to Act 150/2020
  • Introduce employees to this policy and make it available to the public on the website