Gender equality in the workplace: Coface France is a sector leader on equal pay
Coface France ranks first among French credit insurance companies in the professional equality index.
Coface France achieved a score of 91 out of 100 on the French government’s inaugural Professional Equality Index for the 2018 financial year. Far above the legal obligation of 75 points, this result places it among the leading companies in France, and at the top of the credit insurance sector.
This rating now reflects the fundamental work carried out by Coface since 2017, notably regarding promotion decisions, salary increases, and returning to work after maternity leave. These decisive actions were sustained by specifically dedicated budgets in order to quickly achieve equal pay within the company.
Fostering an open and exemplary environment in terms of diversity
In addition to the measures taken within the strict framework of equal pay, in recent years Coface has stepped up its initiatives to enhance women’s careers within the company. “Coface is extremely committed to creating an open and exemplary environment in terms of diversity. We are particularly proud that equal pay is becoming a reality within Coface France,” emphasises Pierre Bévierre, Group Director of Human Resources. “We intend to continue our actions towards gender parity and equality; a key priority to which our management team has made a long-term commitment."
A proactive policy deployed internationally
In 2017, Coface launched the “Women to Win” program, a group-wide professional network open to all 4,100 employees, promoting diversity and women’s involvement in the company. Supported by the members of Coface's Executive Committee, the Women to Win network is run by the employees themselves.
This year, the Group's Human Resources Department also initiated “Mentoring to Win”, a mentoring program designed to help women develop their careers within Coface, thus promoting their access to positions of responsibility.
As a responsible employer, Coface has made it a priority to continue to encourage diversity, responding to both ethical and performance issues.
Note to editors:
The index, a strong measure and mandatory results
Introduced by the “Pénicaud decree” of January 9, 2019 as part of the "Professional Future" law, the professional equality index, measuring the pay gap between men and women, requires all companies with 250 to 1,000 employees to publish their results by September 1, 2019. Moreover, companies with a ranking lower than 75 out of 100 must implement corrective actions over three years, with equal pay to be obtained by 2022. This index allows companies to measure their level of professional equality between women and men annually. It is calculated based on 5 criteria:
- the pay gap calculated based on the average pay of women compared to men, by age group,
- the difference in the rate of individual wage increases between women and men,
- the gap in promotion rates between women and men,
- the percentage of employees who have benefited from an increase in the year of their return from maternity leave,
- the number of female employees among the ten highest paid employees.
In France, for all companies combined, women's wages are on average 9%* lower than their male counterparts’ for equivalent work and/or equal skills.
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