FPI Fair Pay Innovation Lab: 2024 Milestones and Strategic Plans for 2025
This year has been significant for FPI Fair Pay Innovation Lab, with several highlights and activities. Here are some of the most notable aspects:
2024 Highlights and News
In 2024, we strengthened our fair pay initiatives through our Fair Pay Management Circles. These circles have been instrumental in fostering discussions on crucial topics and sharing best practices among leaders from various sectors since the foundation of the FPI. We finished the year with 105 certified companies covering over 100 countries, highlighting our commitment to transparency and fair pay. Among the certified Fair Pay Leaders, Fair Pay Developers and Fair Pay Analysts you find Beiersdorf Germany/Poland/Sweden, BMW Germany, Chiesi Pharmaceutical, Erste Group Bank AG, MCT Agentur GmbH, PUMA France, Siemens Energy AG and many more. They all demonstrate and share our global ambition and the growing adoption of fair pay practices all over the world.
A valuable milestone was the talk in the Canarian Parliament, where we discussed our political ambitions and the impact of our certification in promoting fair pay. The event emphasized the importance of legislation and politics in achieving the goals of equal pay, demonstrating our commitment to advancing fair pay on a political level.
You can view the talk in Spanish here
Throughout the year, we have observed a significant increase in the number of companies seeking certification. Sectors such as Fashion, Luxury, Banking, Finance, and Food and Beverages, with employee sizes ranging from 50 to over 150,000, are contributing to this rapid growth. This trend demonstrates a growing awareness and commitment to fair pay practices across various industries. Our certification process has been recognized as a benchmark for ensuring pay equity, and we are proud to have played a role in this positive development.
Planned Activities for 2025
For the upcoming year, we have ambitious plans that include adding a new format to our existing quarterly Fair Pay Management Circles and launching two new Fair Pay Innovation Circles. These circles will be key platforms for fostering innovation and collaboration in the field of fair pay. The new format will focus on finding new solutions to old challenges, as traditional methods have often failed to close pay gaps for over a century. What sets our certified companies apart? How do they tackle the real-world challenges of implementing fair pay practices? We are excited about the opportunities these events will bring to advance our mission and goals.
We are planning to participate in several events and develop new strategies with our partners to reach more companies and employees. This aligns with our annual Fair Pay Partner Circle, where the exchange of proposals and experiences by our over 20 partners is of vital importance to FPI. These meetings will provide valuable opportunities to share new ideas and collaborate on initiatives aimed at achieving fair pay worldwide. We are open to and talking with new partners worldwide. The last one joining in 2024 was Australian, which now puts us on three continents.
New Publications and Tools
We are pleased to announce the publication of a new book titled "Bridging the Gender Pay Gap through Transparency," which includes a chapter written by Henrike von Platen (FPI’s CEO & Founder) on private certification systems for fair pay. This book is a valuable resource for any organization committed to pay equity and transparency. It provides insights into the challenges and solutions related to gender pay gaps and highlights the importance of transparency in achieving fair pay.
In addition to the book, we have developed new tools and resources to support organizations in their efforts to achieve pay equity. These tools include guidelines for conducting pay audits and best practices for implementing fair pay policies. Additionally, we offer expert talks and debates through the "Coffee Talks" with Margrét Vilborg Bjarnadóttir and Henrike von Platen on YouTube, where many ideas related to Fair Pay are discussed.
The increasing demand for certification, the need for tools related to fair pay and transparency, and the growing conviction among companies and social agents make pay equity, along with our efforts in transparency and the solutions offered by FPI, imperative to everything we do.
Looking Ahead
As we look ahead to 2025, we remain committed to our mission of achieving global fair pay. We will carry on working with our partners and stakeholders to promote fair pay practices and advocate for policies that support pay equity. Our goal is to create a world where everyone is paid fairly for their work, regardless of whether someone is a man or a woman, whether a person has children, what their background is, what they believe in, or whom they love.
In summary, 2024 has been a year of growth and development for FPI. We have collaborated with 105 companies, impacting 421,504 employees, thanks to our 21 valuable partnerships. We have expanded our reach and upheld our political ambitions by participating in partner conferences to promote fair pay. We look forward to 2025 with enthusiasm and determination to continue leading the way to reach Planet Fair!