Equality is a decision

The conference Equality is a decision took place at the Grand Hotel this week, where a large number of participants celebrated with the recipients of the Balance Scale award. At the conference, 11 companies and three municipalities signed; The City of Reykjavík, the City of Hafnarfjörður and the Town of Seltjarnarnes signed a declaration of intent to work towards the goals of the Balance Scale for a 40/60 gender split in their executive boards and boards of directors, thereby joining the companies and municipalities that signed a year ago. 

According to a statement from FKA, the success of the Equal Balance initiative is evident after the project's first year. According to a recent survey, the companies that signed the Balance Scale declaration of intent last year have increased the proportion of women in middle management by 151% and in management positions by 111%. In addition to FKA, the project's partners include the Prime Minister's Office, Sjóvá, Deloitte, PiparTBWA and Morgunblaðið.

Sixteen companies and two local authorities receive recognition

The Gender Balance Scale awarded recognitions to sixteen companies and two local authorities from among the signatories of last year's declaration of intent who participated in a survey on the measures they had implemented. The Balance Scale's goal of a 40/60 gender ratio in the executive board and board of directors was taken into account in the assessment. A large proportion of the participants who signed the Balance Scale's declaration of intent in autumn 2018 have achieved good results in this area, and the number of companies that have met the targets has increased. Furthermore, participants in the Balance Scale draw attention to equality issues within their companies in various other ways.

The attached image shows representatives of all the award holders, who are:

• The Municipality of Akureyri
• Agency sons
• Deloitte Ltd
• Guðmundur Arason Ltd
• iClean Ltd
• Icelandic Bank
• Hotel of Iceland
• Civil Service Pension Fund
• Mosfellsbær
• Nasdaq Iceland hf.
• Oil Trading of Iceland Ltd.
• Pipar TBWA
• The Bankers' Institute
• Rio Tinto in Iceland
• Sagafilm Ltd
• Marine insurance
• VÍS
• Vörður Insurance Ltd.

Accessible and clear presentation of information

Setting key performance indicators is necessary to ensure accountability and good performance. The Balance Scorecard dashboard makes all key public information on the performance of executives in Icelandic business and the public sector available in a simple and clear way.

Joined the group of companies and local authorities that see a benefit in working with the Balance Scale.

It is clear that the municipalities in the capital region see a benefit in working on equality issues when it comes to the top management of the municipalities. At the conference, the City of Reykjavík, the City of Hafnarfjörður and the Municipality of Seltjarnarnes signed a declaration of intent to work towards the goals of the Gender Balance Scale, thereby joining the group of municipalities that signed a year ago. At today's conference, 11 companies signed a declaration of intent to promote greater gender balance within their organisations and to work towards the goals of FKA's Balance Scale for the next five years. There has been a significant increase in the number of companies and public bodies that see the benefits of participating in this dynamic initiative, as research findings are unanimous. A diverse workforce has a positive impact on a company's bottom line, as well as on job satisfaction and performance. It also promotes better decision-making and increased value creation, as innovation and growth are more likely to occur among people with different perspectives and backgrounds. The companies have thus demonstrated that they want to utilise the full potential of their workforce.

The following companies and public bodies were added to the group:

• Byko Ltd.
• Concept Events Ltd.
• Eldey TLH Ltd.
• Expectus Ltd.
• Hafnarfjörður Municipality
• KPMG Ltd.
• Energy of nature
• Icelandic power company
• The City of Reykjavik
• The National Broadcasting Service Ltd.
• The Federation of Industry
• Seltjarnarnes town
• Steypustöðin Ltd.
• Versa Certification Ltd