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SLB Releases Second Women and Pay Report

SLB | 11 days ago

NORTHAMPTON, MA / ACCESSWIRE / November 12, 2024 / SLB has released 2023 Women and Pay-Improving Gender Harmony at SLB, the second in a biennial series aimed at increasing transparency of the company's pay practices for employees and external stakeholders.

This report is an important tool for identifying key focus areas and actionable strategies to achieve gender balance at all levels of SLB.

"As part of our diversity efforts, we are committed to increasing representation across the company," says Carlos Sarmiento, director, Culture, Diversity, and Inclusion. "But more than that, we want to foster a culture of belonging. When we have gender harmony, we have an environment where employees feel respected and valued."

The report analyzed pay data for SLB's salaried workforce, comparing the base salaries for male and female employees in similar roles and levels of responsibility. The aggregate data showed an average global pay gap of 2.37% and a median global pay gap of 1.76%, both favoring men.

Since the last report, SLB has taken actions to successfully narrow the equal pay gap distribution, with a focus on reducing the larger equal pay gaps and have the majority be within 2%. Of the equal pay gaps, 40.33% were within 2%-an improvement from 31.63% over the past two years.

"Using the data-based findings from these reports, we have taken strategic actions to reduce the equal pay gap at SLB. I am proud to say that in the last two years, since the first report came out, we have made consistent progress," says Carmen Rando Béjar, chief people officer. "However, this is an ongoing process, and we will continue to gather data and identify more initiatives as part of our goal to achieve gender balance and further build an inclusive company culture."

Various internal and external factors influence the equal pay gap. To broaden its analysis with new data points, SLB examined this gap through the lens of parenthood. Consistent with Nobel Prize-winning economist Claudia Goldin's research, it was found that the more children a female employee has, the wider the pay gap. This data allows SLB to take a holistic view of the factors driving the pay gap and develop targeted initiatives for improvement.

SLB's recognition at the World 50 2024 Inclusion and Diversity Impact Awards underscores the company's commitment to further narrow the equal pay gap. This year, SLB was a finalist in the Transparency Award category, which honors organizations that openly declare their positions and share their goals for improvement in diversity and inclusion.

To learn more about what SLB is doing to improve gender balance and to review data results from the report, visit www.slb.com/2023WomenAndPayReport.

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