- Novartis in Slovenia has been presented with the HR&M Project of the Year Award in the large companies category at the HR&M Festival.
- Novartis was recognized for being one of the first companies in the Slovenian market to introduce pay transparency.
- Pay transparency is part of the global principles of the Novartis Compensation System and aims to achieve equal pay for equal work and to eliminate pay gaps.
Ljubljana, September 18, 2024 – Novartis in Slovenia is one of three winners of the HR&M Festival's awards for the best HR projects that bring innovative and effective practices to people management at the workplace.The award was presented in recognition of the company's pioneering efforts in implementing pay transparency. As one of the first organizations in Slovenia to adopt this approach, the company has provided employees with insight into salary ranges and benchmarking data. The project aims to promote pay equity, enhance manager accountability and facilitate open pay discussions.
The introduction of pay transparency follows the Equal Pay International Coalition (EPIC), which Novartis joined globally in 2018.This is one of the measures taken by Novartis in Slovenia to promote pay equity. Pay transparency has contributed to greater clarity in the company's wage setting, increased manager accountability and enabled more open discussions on wages. The project helps to retain talent, identify potential biases and strengthen the company's ability to compete in the labor market.
With this project, Novartis has become one of the first companies in Slovenia to introduce a transparent compensation system. "The introduction of pay transparency has been an important step for us in improving our associates’ understanding of pay, creating new promotion opportunities, and identifying potential unconscious bias in wage setting. The results demonstrate that our associates are more informed and unbossed in making decisions about their careers and discussing their remuneration, which was one of our key objectives. The award is a confirmation that we have set an important standard in the Slovenian market with this project and at the same time a welcome recognition of the commitment and efforts of all associates involved in this challenging implementation," commented Mojca Kokalj, Country P&O Head at Novartis in Slovenia.
The HR&M Project of the Year Awards have been run by Planet GV for many years, recognizing the best practices in workplace people management and promoting the development of the HR profession. Their assessment of the most innovative HR practices focuses on originality, relevance, professionalism, everyday impact, ESG aspects, and senior management involvement and support. The aim of the awards is to promote the improvement and development of HR practices in Slovenia and to place companies on the map of best performers.