On January 1st, Iceland became the first country to make it illegal to pay women less than men. The law obliges firms with more than 25 people to obtain a government certificate demonstrating pay equality – or they will be fined. First announced in March 2017, the new legislation aims to completely close the nation’s pay gap by 2022.
Equal pay was a hot topic in 2017, and continues to be so – in fact, the BBC’s China editor just quit over pay inequality. And in case you were in any doubt, the pressure is only going to increase: as we observed in GLASS BOX BRANDS it’s becoming easier and easier for people to see a company’s internal culture. And they need to like what they see. So, time to sweep out any skeletons in your brand’s closet. Before customers discover them.
This story should also remind you that signals of trends are all around you. Don’t think that a news story about a law passed in a relatively small island isn’t relevant. Iceland’s population might only be 323,000 (Walmart has over 2 million employees!), but as we’ve said again and again: when customer expectations are raised in one area, they will ripple into other markets and contexts. So be alert! |
