Members Area
     
T: +44 (0)114 551 8170
E: ssas@bssa.org.uk

Outokumpu first in the stainless steel industry as a certified Fair Pay Workplace

Outokumpu first in the stainless steel industry as a certified Fair Pay Workplace

Outokumpu, the global leader in sustainable stainless steel, has been certified by Fair Pay Workplace (FPW) for its efforts to create sustainable fair pay across the company – employing 8,500 people in almost 30 countries. Outokumpu has high ambition on diversity, equity, and inclusion, and is committed to full equality in compensation.

At the end of 2023, women in Outokumpu earned 0.986 EUR for every 1 EUR earned by men (a gap of 1,4%), up from 0.97 EUR in 2022. These numbers consider the compensation from similar job positions, qualifications, and experience. Without taking these explanatory factors into account, women earned 1.13 EUR for 1 EUR earned by men on average. This reflects the structural differences in gender by type of job – men dominate the labor force at the mills while the proportion of women is higher in office jobs. As a comparison, the overall gender pay gap in the EU was 12.7% in 2022*. Outokumpu is the first in the stainless steel industry and one of the very few companies in Europe to receive the official verification by FPW.

“Pay equity is an integral part of Outokumpu’s diversity, equity and inclusion targets defined in 2022 and approved by the Outokumpu Board of Directors. We have invested in pay equity for many years and have worked with FPW to review and independently verify the impact of our efforts to achieve true equal pay between genders. Now we have reached a point where we can guarantee systematic and transparent measurement and action to ensure pay equity today and in the future. Pay equity is not a one-time fix, but we must constantly monitor it in order not to drift back towards the inequities still prevailing in our labor markets. We are extremely proud to be Fair Pay Workplace certified – however, not forgetting the further work still to be done,” says Johann Steiner, Executive Vice President for Sustainability, People and Communications at Outokumpu.

Fair Pay Workplace certification is based upon a transparent and trusted set of rules and standards of measurement, built by leading independent industry experts across academia, law, and business, to differentiate organizations dedicated to meaningful pay equity. FPW certification program partners with the world’s leading companies across industries on their journey to achieve equal pay for equal work, attract and retain the best talent, and build an equitable future for all.

“All employees deserve to have a fair and equitable experience at work, and we know equitable pay is a central part of the mission. The certification serves as tangible evidence of our dedication to fostering an environment where everyone is treated equally and is provided with the opportunity to thrive. The annual re-certification is also a promise to be consistent with our efforts over time”, Steiner continues.