BEERG Newsletter - Pay Transparency: Société Générale sets precedent

The French bank, Société Générale has announced plans to spend €100m over the next two years to close its gender pay gap. The French bank is unusual in publicly allocating a budget and pledging to spend it. The money will be used to boost the pay of female employees in the same or similar roles as men, where there is no reasonable explanation for a discrepancy. The bank also announced a target of having 35% of senior leadership roles held by women by 2026. 

The implementation of the Pay Transparency Directive is on next week’s agenda at our BEERG Network Meeting in Brussels