Preparing for Pay Transparency in Europe: Learnings from a Pioneer
Our Privacy Policy has been updated! The Conference Board uses cookies to improve our website, enhance your experience, and deliver relevant messages and offers about our products. Detailed information on the use of cookies on this site is provided in our cookie policy. For more information on how The Conference Board collects and uses personal data, please visit our privacy policy. By continuing to use this Site or by clicking "OK", you acknowledge our privacy policy and consent to the use of cookies.  Our Privacy Policy has been updated! Detailed information on the use of cookies on this site is provided in our cookie policy and our privacy policy. 
TCB Tourch
Loading...
  •  
    • NORTH AMERICA
    • EUROPE
    • ASIA

  • 2

    Close
    • Insights
        • Insights
        • Explore by Center
          • Explore by Center

          • Economy, Strategy & Finance

          • Governance & Sustainability

          • Human Capital
        • Explore by Content Type
          • Explore by Content Type

          • Reports

          • Upcoming Webcasts

          • On Demand Webcasts

          • Podcasts

          • Charts & Infographics
        • Trending Topics
          • Trending Topics

          • Artificial Intelligence (AI)

          • Navigating Washington

          • Geopolitics

          • US Economic Forecast

          • Sustainability

          • Future of Work
    • Events
        • Events
        • Upcoming Events
          • Upcoming Events

          • Future: People Asia

          • Reimagine: The Future of Business

          • 2026: A Year in Preview

          • Explore all Upcoming Events

        • Member-Exclusive Programs
          • Member-Exclusive Programs

          • Center Briefings

          • Experts Live

          • Roundtables

          • Working Groups

          • Expert Briefings

    • Data
        • Data

        • Consumer Confidence Index®

        • Data Central

        • TCB Benchmarking

        • Recession & Growth Trackers

        • Global Economic Outlook

        • Leading Economic Indicators

        • Help Wanted OnLine

        • Labor Markets

        • Measure of CEO Confidence

        • CMO+CCO Meter Dashboard

    • Centers
        • Centers
        • Our Centers
          • Our Centers

          • Economy, Strategy & Finance

          • Governance & Sustainability

          • Human Capital
        • Center Membership
          • Center Membership

          • What Is a Center?

          • Benefits of Center Membership

          • Join a Center

    • Councils
        • Councils
        • Find a Council
          • Find a Council

          • Economy, Strategy & Finance

          • Governance & Sustainability

          • Human Capital
        • Council Membership
          • Council Membership

          • What is a Council?

          • Benefits of Council Membership

          • Apply to a Council

    • Membership
        • Membership
        • Why Become a Member?
          • Why Become a Member?

          • Benefits of Membership

          • Check if Your Organization is a Member

          • Speak to a Membership Associate
        • Types of Membership
          • Types of Membership

          • Council

          • Economy, Strategy & Finance

          • Governance & Sustainability

          • Human Capital

          • Insights

          • TCB Advisory

        • Already a Member?
          • Already a Member?

          • Sign In to myTCB®

          • Executive Communities

          • Member-Exclusive Programs

    • About Us
        • About Us
        • Who We Are
          • Who We Are

          • About Us

          • In the News

          • Press Releases

          • Our History

          • Support Our Work

          • Locations

          • Contact Us

        • Our Community
          • Our Community

          • Our Leadership

          • Our Experts

          • Trustees

          • Voting Members

          • Global Counsellors

          • Careers

          • This Week @ TCB

    • Careers
    • This Week @ TCB
    • Sign In to myTCB®
      • NORTH AMERICA
      • EUROPE
      • ASIA
    • Insights
      • Insights
      • Explore by Center
        • Explore by Center

        • Economy, Strategy & Finance

        • Governance & Sustainability

        • Human Capital

      • Explore by Content Type
        • Explore by Content Type

        • Reports

        • Upcoming Webcasts

        • On Demand Webcasts

        • Podcasts

        • Charts & Infographics

      • Trending Topics
        • Trending Topics

        • Artificial Intelligence (AI)

        • Navigating Washington

        • Geopolitics

        • US Economic Forecast

        • Sustainability

        • Future of Work

    • Events
      • Events
      • Upcoming Events
        • Upcoming Events

        • Future: People Asia

        • Reimagine: The Future of Business

        • 2026: A Year in Preview

        • Explore all Upcoming Events

      • Member-Exclusive Programs
        • Member-Exclusive Programs

        • Center Briefings

        • Experts Live

        • Roundtables

        • Working Groups

        • Expert Briefings

    • Data
      • Data

      • Consumer Confidence Index®

      • Data Central

      • TCB Benchmarking

      • Recession & Growth Trackers

      • Global Economic Outlook

      • Leading Economic Indicators

      • Help Wanted OnLine

      • Labor Markets

      • Measure of CEO Confidence

      • CMO+CCO Meter Dashboard
    • Centers
      • Centers
      • Our Centers
        • Our Centers

        • Economy, Strategy & Finance

        • Governance & Sustainability

        • Human Capital

      • Center Membership
        • Center Membership

        • What is a Center?

        • Benefits of Center Membership

        • Join a Center

    • Councils
      • Councils
      • Find a Council
        • Find a Council

        • Economy, Strategy & Finance

        • Governance & Sustainability

        • Human Capital
      • Council Membership
        • Council Membership

        • What is a Council?

        • Benefits of Council Membership

        • Apply to a Council

    • Membership
      • Membership
      • Why Become a Member?
        • Why Become a Member?

        • Benefits of Membership

        • Check if Your Organization is a Member

        • Speak to a Membership Associate

      • Types of Membership
        • Types of Membership

        • Council

        • Economy, Strategy & Finance

        • Governance & Sustainability

        • Human Capital

        • Insights

        • TCB Advisory

      • Already a Member?
        • Already a Member?

        • Sign In to myTCB®

        • Executive Communities

        • Member-Exclusive Programs
    • About Us
      • About Us
      • Who We Are
        • Who We Are

        • About Us

        • In the News

        • Press Releases

        • This Week @ TCB

        • Our History

        • Support Our Work

        • Locations

        • Contact Us

      • Our Community
        • Our Community

        • Our Leadership

        • Our Experts

        • Trustees

        • Voting Members

        • Global Counsellors

        • Careers

        • This Week @ TCB

    • Careers
    • Sign In to myTCB®
    • Download TCB Insights App
  • Insights
    Insights

    Our research and analysis have helped the world's leading companies navigate challenges and seize opportunities for over 100 years.

    Explore All Research

    Economic Indicators

    • Explore by Center
    • Economy, Strategy & Finance
    • Governance & Sustainability
    • Human Capital
    • Explore by Content Type
    • Reports
    • Upcoming Webcasts
    • On Demand Webcasts
    • Podcasts
    • Charts & Infographics
    • Trending Topics
    • Artificial Intelligence (AI)
    • Navigating Washington
    • Geopolitics
    • US Economic Forecast
    • Sustainability
    • Future of Work
  • Events
    Events

    Our in-person and virtual events offer unmatched opportunities for professional development, featuring top experts and practitioners.

    See Everything Happening This Week

    Sponsor a Program

    • Upcoming Events

      • Future: People Asia

      September 04 - 05, 2025

      Reimagine: The Future of Business

      November 12 - 13, 2025

      2026: A Year in Preview

      January 27 - 28, 2026

    • Member-Exclusive Programs
    • Center Briefings
    • Experts Live
    • Roundtables
    • Working Groups
    • Expert Briefings
    • Explore by Type
    • Events
    • Webcasts
    • Podcasts
    • Member-Exclusive Programs
    • Center Briefings
    • Experts Live
    • Roundtables
    • Working Groups
    • Expert Briefings
  • Data
    Corporate Disclosure Data

    TCB Benchmarking

    Real-time data & analytical tools to benchmark your governance, compensation, environmental, human capital management (HCM) and social practices against US public companies.

    Economic Data

    All Data

    Consumer Confidence Index®

    Data Central

    One-stop, member-exclusive portal for the entire suite of indicators

    Labor Markets

    Measure of CEO Confidence

     

    Recession & Growth Trackers

    Current & future state of 16 economies

    Global Economic Outlook

    Growth outlooks for 77 economies

    Leading Economic Indicators

    State of the business cycle for 12 global economies across Asia and Europe

    Help Wanted OnLine

    Status of the US job market

    Other Featured Data

    CMO+CCO Meter Dashboard

  • Centers
    Centers

    Centers offer access to world-class experts, research, events, and senior executive communities.

    Our Centers
    • Economy, Strategy & Finance
    • Governance & Sustainability
    • Human Capital
    Center Membership
    • What Is a Center?
    • Benefits of Center Membership
    • Join a Center
  • Councils
    Councils

    Councils are invitation-only, peer-led communities of senior executives that come together to exchange knowledge, accelerate career development, and advance their function.

    Find a Council
    • Economy, Strategy & Finance
    • Governance & Sustainability
    • Human Capital
    Council Membership
    • What Is a Council?
    • Benefits of Council Membership
    • Apply to a Council
  • Membership
    Membership

    Membership in The Conference Board arms your team with an arsenal of knowledge, networks, and expertise that's unmatched in scope and depth.

    • Why Become a Member?
    • Benefits of Membership
    • Check if Your Organization is a Member
    • Speak to a Membership Associate
    • Types of Membership
    • Council
    • Economy, Strategy & Finance
    • Governance & Sustainability
    • Human Capital
    • Insights
    • TCB Advisory
    • Already a Member?
    • Sign in to myTCB®
    • Executive Communities
    • Member-Exclusive Programs
  • About Us
    About Us

    The Conference Board is the global, nonprofit think tank and business membership organization that delivers Trusted Insights for What's Ahead®. For over 100 years, our cutting-edge research, data, events and executive networks have helped the world's leading companies understand the present and shape the future.

    Learn more about Membership

    • Who We Are
    • About Us
    • In the News
    • Press Releases
    • Our History
    • Support Our Work
    • Locations
    • Contact Us
    • Our Community
    • Our Leadership
    • Our Experts
    • Trustees
    • Voting Members
    • Careers
    • This Week @ TCB
Check if You're a Member
Create Account
Forgot Your Password?

Members of The Conference Board get exclusive access to the full range of products and services that deliver Trusted Insights for What's Ahead ® including webcasts, publications, data and analysis, plus discounts to conferences and events.

Future of Work

Preparing for Pay Transparency in Europe: Learnings from a Pioneer

12 August 2024 / Article

Download Article
  • Email
  • Linkedin
  • Facebook
  • X
  • Copy Link

As companies prepare for the upcoming EU-wide pay transparency law, one fast growing global pharmaceutical company, headquartered in Europe, shares how it is implementing pay transparency as part of a multi-year journey to embed sustainability into corporate purpose, strategy, and culture.

Trusted Insights for What’s Ahead™ 

  • Implementing pay transparency is important for talent attraction and retention and to support the pharmaceutical’s ambition to be a sustainable business and employer. In 2023, the company recruited 9,000 employees and recorded sales growth of 36%; 2024 looks equally promising. In a sector where competition for talent is fierce, being an employer of choice ensures the company has the skilled workers to meet its strategic aspirations and growth plans. 
  • Introducing pay transparency is much more about implementing culture and behavior change than it is about redesigning pay policies and practices. The company’s commitment to equity, inclusion, transparency, and trust provides the cultural scaffolding to help embed pay transparency practices across the global organization. 

As companies prepare for the upcoming EU-wide pay transparency law, one fast growing global pharmaceutical company, headquartered in Europe, shares how it is implementing pay transparency as part of a multi-year journey to embed sustainability into corporate purpose, strategy, and culture.

Trusted Insights for What’s Ahead™ 

  • Implementing pay transparency is important for talent attraction and retention and to support the pharmaceutical’s ambition to be a sustainable business and employer. In 2023, the company recruited 9,000 employees and recorded sales growth of 36%; 2024 looks equally promising. In a sector where competition for talent is fierce, being an employer of choice ensures the company has the skilled workers to meet its strategic aspirations and growth plans. 
  • Introducing pay transparency is much more about implementing culture and behavior change than it is about redesigning pay policies and practices. The company’s commitment to equity, inclusion, transparency, and trust provides the cultural scaffolding to help embed pay transparency practices across the global organization. 
  • A holistic, culture-based approach to pay transparency is supported by a set of sustainable reward principles. These principles aim to ensure that reward practices can be maintained over time and still be fair, equal, and competitive. The principles include a commitment to gender pay equality, inclusive benefits, and a living wage. Pay transparency policy has been reframed around these reward principles, as have supporting actions such as gender pay gap reporting and equal pay analyses. 
  • A cross-organizational mandate is essential to enable the transition to pay transparency. A Sustainable Rewards Council, comprising senior leaders from different organizational functions and geographies, has provided practical advice and feedback about pay transparency initiatives and other steps to sustainable rewards. These leaders also acted as change management ambassadors to internal and external stakeholders.
  • Line manage

Authors

Michel Syrett

Michel Syrett Michel Syrett

Senior Human Capital Fellow
The Conference Board

Read Bio

Marion Devine

Marion Devine Marion Devine

Principal Researcher, Human Capital, Europe
The Conference Board

Read Bio

This publication is only available to Members. Please sign in to your myTCB® account to access it. To learn more about becoming a Member, click here. To check if your company is a Member, click here

Sign In

Forgot your password

Create An Account

 

Keep my computer signed in

Forgot your password

Create An Account

myTCB® Members get exclusive access to webcasts, publications, data and analysis, plus discounts to events.

Great News!

You already have an account with The Conference Board.

Please try to login in with your email or click here if you have forgotten your password.

Create An Account



 

By Clicking 'Create Account', You Agree To Our Terms Of Use

Create Account

Other Related Resources

Report

Future: Reward Europe 2025 – The Highlights

Future: Reward Europe 2025 – The Highlights

August 13, 2025

Report

Asia CHRO Priorities 2025

Asia CHRO Priorities 2025

April 17, 2025

Chart

Infographic: Evolving Total Rewards Framework

Infographic: Evolving Total Rewards Framework

April 10, 2025

Chart

Infographic: Skilling at Speed and Scale: Five Guideposts to Success

Infographic: Skilling at Speed and Scale: Five Guideposts to Success

March 21, 2025

Report

Cracking the Code: Why Talent Retention and Psychological Contracts Matter

Cracking the Code: Why Talent Retention and Psychological Contracts Matter

February 10, 2025

Article

Cracking the Code: Calculating the 'Truer' Cost of Employee Turnover

Cracking the Code: Calculating the 'Truer' Cost of Employee Turnover

February 10, 2025

Report

Cracking the Code: How to Drive Talent Retention at Your Organization

Cracking the Code: How to Drive Talent Retention at Your Organization

February 10, 2025

Essay

Implications of CEO Assassination on Executive and Employee Security

Implications of CEO Assassination on Executive and Employee Security

December 13, 2024

Chart

CHROs can press on six gears to improve human productivity

CHROs can press on six gears to improve human productivity

December 10, 2024

Report

Digital Well-Being in the Workplace: The Roles of Leaders and Workers

Digital Well-Being in the Workplace: The Roles of Leaders and Workers

November 25, 2024

Chart

Infographic: Beyond Backlash: The Continued Benefits of DEI

Infographic: Beyond Backlash: The Continued Benefits of DEI

November 13, 2024

Article

The Paramount Value of Total Rewards: Forward Strategies for CEOs and CHROs

The Paramount Value of Total Rewards: Forward Strategies for CEOs and CHROs

November 07, 2024

Article

The Evolving Total Rewards Landscape: Tactics to Attract and Retain Talent

The Evolving Total Rewards Landscape: Tactics to Attract and Retain Talent

November 07, 2024

Essay

An HR Leader’s Survival Guide to the Age of AI

An HR Leader’s Survival Guide to the Age of AI

November 05, 2024

Report

Skilling at Speed and Scale: Five Guideposts to Success

Skilling at Speed and Scale: Five Guideposts to Success

October 28, 2024

Report

Driving Impact with Talent Marketplaces

Driving Impact with Talent Marketplaces

October 01, 2024

Article

Future: Reward Europe – The Highlights

Future: Reward Europe – The Highlights

August 06, 2024

Podcasts

Unlocking the Value of Hybrid Work

Unlocking the Value of Hybrid Work

July 29, 2024

Report

Hybrid 2.0: Optimize Not Compromise

Hybrid 2.0: Optimize Not Compromise

July 08, 2024

Report

Productivity Through People: New Opportunities for CHROs

Productivity Through People: New Opportunities for CHROs

July 01, 2024

Report

Countdown to EU’s New Law on Pay Transparency: Multinationals Must Move Faster

Countdown to EU’s New Law on Pay Transparency: Multinationals Must Move Faster

June 21, 2024

Report

Future: Reward Europe 2025 – The Highlights

Future: Reward Europe 2025 – The Highlights

August 13, 2025

Report

Asia CHRO Priorities 2025

Asia CHRO Priorities 2025

April 17, 2025

Chart

Infographic: Evolving Total Rewards Framework

Infographic: Evolving Total Rewards Framework

April 10, 2025

Councils

China Human Resources Council

China Human Resources Council

Councils

Asia Talent Management Council

Asia Talent Management Council

Councils

Global Business Services Council EMEA

Global Business Services Council EMEA

Councils

Human Resources Executives Council

Human Resources Executives Council

Councils

Asia CHRO Council

Asia CHRO Council

Councils

China Human Resources Council

China Human Resources Council

Councils

Asia Talent Management Council

Asia Talent Management Council

Councils

Global Business Services Council EMEA

Global Business Services Council EMEA

Conference Board Sample Web Chat
chatbot-Icon TCB Logo
chatbot-Icon
C-Suite Insights - Stay updated on the biggest issues facing business executives.
ABOUT US
  • Who We Are
  • Our History
  • Our Experts
  • Our Leadership
  • In the News
  • Press Releases
EXPLORE
  • Membership
  • Centers
  • Councils
  • TCB Benchmarking
  • Ask TCB
  • Events
  • Webcasts
  • Podcasts
  • This Week @ TCB
 
  • Events
  • Webcasts
  • Podcasts
  • This Week @ TCB
CONTACT US
  • North America
    +1 212 759 0900
    customer.service@tcb.org
  • Europe/Africa/Middle East
    +32 2 675 5405
    brussels@tcb.org
  • Asia
    Hong Kong | +852 2804 1000
    Singapore | +65 8298 3403
    service.ap@tcb.org
CAREERS
  • See Open Positions
Terms Of Use | Privacy Policy | Event Code of Conduct | Trademarks
© 2025 The Conference Board Inc. All rights reserved. The Conference Board and torch logo are registered trademarks of The Conference Board.
The use of all The Conference Board data and materials is subject to the Terms of Use. Reprint requests are reviewed individually and may be subject to additional fees.The Conference Board reserves the right to deny any request.
Terms of Use | Privacy Policy | Event Code of Conduct | Trademarks
© 2025 The Conference Board Inc. All rights reserved. The Conference Board and torch logo are registered trademarks of The Conference Board.
The use of all data from The Conference Board data and materials is subject to the Terms of Use. Reprint requests are reviewed individually and may be subject to additional fees.The Conference Board reserves the right to deny any request.

Thank you for signing up. You will now receive CEO Insights for What's Ahead every Wednesday morning. You can unsubscribe at any time or manage your preferences to receive more content from The Conference Board.

Important: Your Membership subscription payment is past due. We have not yet received your Membership payment. Please click the button below to pay your invoice.

Pay Invoice

Announcing The Conference Board AI Virtual Conference Series

Explore the Impact of AI on Your Business

Members receive complimentary registration - Learn more >>