Diversity Discoveries

DI VERS I TY DI SCOVER I ES SECOND QUARTER 202 2

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where every year more than 10,000 open positions are being published internally and externally. 3. Equal Pay Even women who climb to the highest rungs on the corporate ladder are some- times, in some companies, still paid less than their male counterparts. In addition to salary, this discrepancy can also extend to incentive pay, such as stock grants and bonuses. The gender pay gap has been in- crementally improving, but it is still taking time to achieve parity with their male counterparts. There is substantial evi- dence to show that companies that can close these gaps perform better and are subject to less business risk. As one of the world’s foremost companies, ABB is a leader in ensuring equal pay for equal work for all its employees. As such, ABB has adopted a Global Grading System with support from Hay Consultants which allows ABB to measure the relative worth of all openings in the organization. This means that jobs are reviewed in a fair and consistent way with similar jobs be- ing compared to each other across coun- tries, and in many cases across Divisions. The Global Grading System and the result- ing grade evaluation is a foundation for re- muneration decisions involving base pay, short term incentives, long term incentives and other benefits. 4. Tailored Benefits According to a MetLife survey, the majority of women in the workplace say it’s import- ant that their employer provides tailored benefits as part of their employment package. Tailoring benefits to address the specific needs of employee populations is becoming increasingly important. With this in mind, ABB provides two employ- ee-focused programs that offer more options for a catered benefit experience. ABB believes there is a direct link between the physical and mental health of its people and the company’s overall performance. The Global Parental Leave Program is gen- der-neutral and grants 12 weeks of paid leave for primary caregivers and 4 weeks

Here are several items female executives are identifying as being important when choosing a new employer: 1. Flexible Work Schedule/Working Re- motely A flexible schedule and the ability to work remotely are no longer “nice to haves,” they are “must haves.” Studies have indi- cated that for women, flex or remote work is even more important than the financial benefits a company can offer. According to Egon Zehnder, women benefited greatly from working from home during the pan- demic. Working from home created better work-life balance by providing more flexi- bility in their work schedules and a less stressful work environment while increas- ing productivity. ABB has embraced flexi- ble work options depending on job com- patibility without compromising customer service or impacting colleagues: Common Flexible Work Practices (FWP) include Flex- time, Compressed Work Week, Remote Work, Telecommuting, Part Time, and Job Share. Global Flexible Work Practices Guidelines detail standards and processes which will apply across ABB. However, many countries will go beyond these stan- dards where local legislation allows. 2. A Position with Purpose Research has also confirmed that women are looking for roles that fit well with other areas of their lives. They want en- joyment from the work that they do, be- lieving that their job gives them the op- portunity to make a difference in their organization. This concept also positively impacts communities and societies around them and has been referred to in some circles as “a calling.” Experiencing work as “a calling” is directly related to in- creased job satisfaction. Today, ABB offers a unique platform to leverage individual competencies and fu- ture aspirations while energizing the transformation of society and industry to achieve a more productive, sustainable fu- ture. Moreover, ABB is helping each em- ployee build a fulfilling career by making all opportunities open to everyone through its “Open Job Market” policy