Schlumberger Releases Industry-First Women and Pay Report

Schlumberger Releases Industry-First Women and Pay Report

Schlumberger just launched its Women and Pay Report for 2021, which the firm claims is an industry first in the oil sector.

According to Schlumberger, the report would promote transparency of the company’s pay policies to employees and external stakeholders, as well as serve as an accountability tool for the company’s gender balance initiatives, such as its goal of having 30% women in its paid workforce by 2030.

The biannual analysis studied pay data for Schlumberger’s salaried staff across 80 countries, comparing female and male base salaries for identical roles and degrees of responsibility, according to Schlumberger. When the data was analyzed in its entirety, Schlumberger discovered a global pay disparity of 2.68 percent in favor of men, according to the business.

The pay gap, according to Schlumberger, is due to two main factors: an imbalance in experience, based on a historical imbalance of women in the company, and salary increments gained through seniority, which the company claims means that employees with more tenure typically have higher pay for similar roles.

The ratio of salaried women at Schlumberger increased from 19.5 percent in 2017 to 22.6 percent in 2020, according to the company’s Women and Pay report. According to the report, the company is working to increase gender equality across the three components of its people strategy: culture, talent and leadership, and environment.

READ:  U.S. Natural Gas Exports Growth Led By LNG

“Women’s participation in our business has been low for numerous years, and currently stands at roughly 22 percent,” Schlumberger’s chief people officer, Carmen Rando Bejar, said in a statement.

“It’s evident that, in order to move the needle on gender balance, we need to boost the transparency of our pay practices to help inform decision-making on both internal and external equity concerns for women,” Bejar said.

“As we continue to analyze our progress and identify important target areas to accelerate progress toward gender balance and improving the presence of women at all levels of the firm,” Bejar stated, “this report will help us set a sustainable reference point for the statistics.”

“People doing comparable positions may have distinct variances depending on their background, abilities, and experiences,” said Leila Hamza, Schlumberger’s head of diversity and inclusion. “This is why there is a salary range for each role rather than a fixed salary,” she said.

READ:  Look For Higher Oil Prices and More Pain at the Pump

“What we need to identify for the purpose of the gender pay gap analysis is any disparity that cannot be justified by those criteria,” Hamza added.

“Identifying the hurdles to women’s hiring and progression is crucial… “We’re dedicated to highlighting and addressing these barriers by enabling our leaders and employees of all genders to create an inclusive atmosphere and collaborating with industry colleagues to build more fair workplace practices for women,” Hamza stated.

“Through strong engagement with our business partners across the industry, we are well positioned to play a role in driving change,” Schlumberger CEO Olivier Le Peuch stated in response to the report.

“We understand that merely attracting more ladies would not solve the problem. We feel it is critical to guarantee that women are supported, positioned, and compensated for increasingly senior roles in the firm, in addition to creating a more inclusive atmosphere,” he added.

“We are on track to achieve our existing goal of 25% women in our salaried staff by 2025.” Looking ahead, we’ve established a target of 30% female participation by 2030… To demonstrate our commitment, we have decided to make our global gender diversity benchmark report – including salary – public. We believe this is the first time in our industry that something like this has been done. “We hope that by being transparent about our findings, others will follow suit,” Le Peuch concluded.

READ:  Russian Energy Ban Would Worsen Inflation In The UK

Schlumberger stated in a company post back in January that establishing gender balance across the organization is ongoing and has been a priority for the company for over 25 years.

In 2021, Connect Women will host 18 global webinars and roundtable discussions to foster self-development and knowledge sharing, according to the article, which promotes Connect Women as a company networking community that supports its gender balancing goal. Men for Change, another internal networking group, aims to involve men in becoming advocates for gender diversity and inclusion, according to the post.

Schlumberger’s January blog post also mentioned that the company had recently sponsored the Women’s Global Leadership Conference in Energy and the Women’s Economic Forum in Ecuador as a platinum sponsor.


Your email address will not be published.