Pay transparency is coming: companies face new obligations
Published
The implementation of the European Union's Pay Transparency Directive is progressing in Finland and elsewhere in the world. The purpose of the directive is to make pay differences more visible, especially between women and men. It also brings new obligations for Finnish companies.
In Finland, the legislative amendments are intended to incorporate the requirements of the directive into national legislation. As a result of the changes, employers will have to provide employees and job applicants with information on pay and pay-setting criteria. In the future, employees will have the right to request information on the average pay levels at their workplace. Job applicants may also receive information about pay before a employment contract is concluded.
Larger companies must also report on pay gaps. Companies need to monitor whether different pay is paid to different sexes for the same work and correct any shortcomings. For many companies, this means new practices, clearer pay systems and better documentation.
According to experts, companies should prepare for the changes in good time. Reviewing pay systems and training staff help ensure that a company complies with the new rules. Detailed provisions and timetables will become clear once Finland's legislative amendments have been adopted.
Sources: EY
More Finland news
- Finland to test emergency warning system on 24 November
- Orpo government policies took 80 euros a month from the poorest
- Nigel expands its product range with more affordable PXI cards
- Craze launches AI video tool for creative work and timeline editing
- Myrskylän ohjelmistoyritys nousi Suomen kärkikasvajiin
- Germany backs down from threat: 2027 Ice Hockey World Championships to remain in Germany
- Fuel prices in Finland: diesel price above 2.50 euros per litre
- Ilse Aigner could become Germany's first female president