Last update: 01/03/2022
No sector of our society can be understood without gender equality. That is why companies, institutions and organisations are focusing on gender diversity as an essential factor for social progress. Santander is part of this objective and we are working to get closer to achieving it.
Gender equality is a fundamental human right and a key factor in achieving a peaceful, prosperous and sustainable world. Despite this fact, there are still data that are of concern: in the workplace, according to the United Nations, there is a gender gap of 23% if we look at the pay differences between men and women worldwide.
A lot remains to be done. At Santander, we are aware of this and we are making every effort to apply various corporate measures and equality plans in the geographies in which we operate.
The gender pay gap is calculated comparing salaries of men and women who perform the same duties and who have the same level of experience and job. Ensuring equality in this field has always been one of our corporate commitments; and we are now reaping the rewards. In 2019, the gender pay gap fell among our employees to 2%, which was an improvement of 33% compared to 2018 (3%). This effort continued in 2020 and, in 2021 the gender pay gap fell to 1%.
This reduction has been possible thanks to the methodology that we have been developing for some years, featuring rigorous standards for promotion and succession, management communications and mentoring and networking initiatives. Our firm goal is to achieve gender pay equity by 2025.
Ensuring equal opportunities at all levels is a priority for us. 54% of our workforce are women. However, this percentage is lower in management positions. In order to improve these figures we established a series of objectives, such as increasing the number of women on the board of directors from 30% to 40%-60% in 2021. And we achieved this: we are currently at 40%.
In addition, number of positions held by women at management levels has increased from 23.7% in 2020 to 26.3% in 2021, bringing us closer to the target of 30% set for 2025.
The importance of a work-life balance is essential for those who work. In order to ensure that our employees are able to balance their work with their personal lives, Santander has developed minimum standards for maternity and paternity leave in most of the geographies in which we operate. We have also created a system that allows our workforce to have more flexibility regarding their timetable and where they work from.
Our ambition is to become one of the top companies to work for in the world because our workforce is what we value most.