Whether your company is looking for an external analysis of its wage practices or has committed to their enhancement, Fair Wage starts with an assessment of the wage practices in relation to the Fair Wage framework.
Fair Wage Report
The report is structured along indicators for each of the Fair Wage dimensions, with detailed graphs and performance correlations. It is designed as a tool for the human resources/wages and compensation/sustainability departments to use directly and effectively in their work.
Local assessments and aggregate report:
Assessments of several business units in different locations can be performed and then be comparatively analysed in an aggregated report by country, or by product, or by segment of the supply chain.
Fair Wage is designed as a tool to improve wage practices while enhancing HR operations of every business. Whether used to initiate remediation or simply as a monitoring interface, Fair Wage assessments gain in value when they are done on a regular basis (yearly, or every two years), as variations and evolutions are then highlighted, and trends be detected.
Remediation is implemented over a time period and it’s effectiveness is evaluated through successive assessments.
Remediation exercises implemented so far have led to considerable improvements in pay systems (introduction and development of wage grids, of links between wages and skills, implementation of bonuses to performances, new perfoming non monetary benefits and other components of the pay package), in other working conditions (reduction of overtime hours without wage loss for the employees, better health and safety, better career promotions and mobility etc.) and in the overall performance indicators of the company (lower turnover and absenteeism, lower social conflicts, improved human capital, enhanced productivity, profitability, improved quality of goods and services). Such improvements have also allowed the company to improve wages’ ‘living wage’ function by improving employees’ capacity to cover their basic and unexpected expenditure.
The certification is the ultimate recognition of fair wage practices in the company that can thus be granted the Fair Wage Label for a period of two years as a sign of quality in the wage-fixing and Human Resources domain.
The powerful branding emphasis of the Fair Wage Label is thus available for companies with exemplary wage policies and practices. Fair Wage assessment that reveal such level of best practices will always mention the eligibility for certification. If additional improvements are required Fair Wage Team – through their reporting and complementary advice- will identify necessary next steps and help the company to put in place a Fair Wage remediation plan to implement such changes.
Even in the case the assessment detects issues to be remedied before certification, obtaining the right to advertise the Fair Wage label can still be an operational objective for any company.
Label use rights
With certification, a license to use the Fair Wage Label for branding purposes is delivered to the certified company. Label licensing requires a renewal of the certification every two years, through a new Fair Wage assessment.
Business unit certification
Certification does not need to be delivered for the global operations of a company. A company may apply for certification of one or several of its business units, and the certification process will follow for the selected business units