At Randstad, our ambition is to be the world's most equitable and specialised talent company. We are dedicated to creating an inclusive environment where everyone has the opportunity to thrive, and we acknowledge the importance of addressing gender equity within our organisation.
Building a truly equitable organisation is an ongoing journey and we are committed to transparency and continuous measurement. Randstad is committed to taking positive and proactive action to ensure it is a leader in creating a diverse and inclusive workplace, with a strong focus on achieving gender equity.
in 2024, we continued to:
- Undertake regular pay analysis to understand the root causes of gender pay gaps.
- Maintain monthly monitoring through our HR analytics tool to track and address gender pay gap trends.
- Integrate gender pay gap data into the annual merit increase cycle and allocate a budget to resolve emerging issues.
- Analyse our performance and potential assessment process to ensure it is free from gender bias.
- Review company policies to ensure they are supportive of gender equity.
- Focus on attracting and recruiting a diverse employee group.
in addition to this, we built upon our existing gender equity initiatives by:
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strengthening diversity & inclusion:
By expanding Business Resource Groups to foster an inclusive workplace and amplify diverse voices.
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advance our family-friendly workplace initiatives:
With our revised 2024/25 plan to create a supportive environment for all employees.
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investing in developing female talent:
Through targeted learning opportunities to foster growth and leadership development.
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promoting inclusive work practices:
By creating a safe environment for all employees, including men, to participate in part-time work and take advantage of family-friendly benefits.
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addressing key drivers of pay gaps:
Focusing on leadership representation, role distribution, and part-time work impacts.
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implementing enhanced controls:
And approval frameworks for compensation decisions and guiding principles to support decision making free of gender bias.
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providing leadership training:
On pay equity principles to foster a more equitable culture.
We are proud to say that these efforts were effective in reducing the gender pay gap at a base salary level and total remuneration level year on year, which continues the positive trend over the last 3 years.
In addition, we have increased the representation of women in the top two remuneration quartiles from previous years.
We upheld our commitment to investing and developing in female talent by sponsoring female leaders to participate in our global women in leadership program. (WeQual)
Our analysis shows that the gender pay gap is largely due to factors like:
- Role Distribution: Overrepresentation of women in lower-paying positions.
- Part-Time Work: A greater percentage of women working part-time.
- Acquisition: changes to our organisation makeup.
- Performance pay: commission and bonus pay for sales roles
We recognise that as a Talent company, performance based pay has an impact on overall earning potential that contributes to the gender pay gap. The majority of Randstad’s workforce hold roles which involve commission and or bonus structures that reward our people based on their performance. Employees who generate higher sales will earn more commission regardless of their gender. Where there is a gender pay gap our analysis confirms that this is attributed to variations in performance, tenure, experience, specialisation and location and not impacted based on gender.
The increased gap in the overall gender pay gap of Randstad’s corporate group is something we anticipated given the recent change in our organisational make-up. This impact is due to a recent acquisition and merger of an IT solutions and recruitment business. While we are not satisfied with the current overall gender pay gap as a corporate group, we are proud that there has been a year on year improvement on all measures of the gender pay gap across our core employee group. This positive trend demonstrates that our processes, policies and compensation practices are effective at reducing the gender pay gap, giving us confidence that we will continue to make progress towards gender equity in our newly formed organisational structure.
To address the gender pay gap in a newly acquired business, Randstad will:
- Align remuneration practices by standardising pay structures, job titles, and benefits across the organisation to eliminate gender bias.
- Implement job grading to objectively evaluate roles and ensure comparable compensation.
- Standardise commission schemes with clear guidelines and transparent performance metrics to eliminate gender bias.
- Provide access to market data on salary trends to promote pay transparency and equity.
- Ensure transparent decision-making for pay increases and promotions based on clear and objective criteria.
- Conduct regular pay equity audits to monitor and address any gender pay gaps.
While we are pleased to see that the targeted initiatives to reduce the gender pay gap are having a positive impact, we are not satisfied. We will continue to monitor our progress regularly using our HR analytics tool and tracking key metrics related to pay gaps, workforce composition, and leadership representation. We will also actively review our recruitment practices to ensure they are aligned with our commitment to diversity and inclusion.
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