Pay transparency is a big international focus for IQVIA, says Soraya Salem-Moreira
Speaking on the Top pay and reward trends and challenges going into 2024 REBA webinar on 6 December 2023, Soraya Salem-Moreira, Senior Director, Compensation and Benefits EMEA, said IQVIA operates in 24 of 27 of the EU countries, which have until June 2026 to transpose the EU Directive on Pay Transparency. “It is a big focus. We’re still at the planning stage - having big conversations with stakeholders about what the new legislation means,” she said.
Even though the UK does not have to implement the directive, the company will still consider how to enable pay transparency for the 5,000 employees it has in the UK. “If people want to know that they are being paid fairly, why don’t we [make this possible] instead of having to have awkward conversations,” Salem-Moreira added.
The company was formed after the 2016 merger of Quintiles and IMS Health, and it is assessing its processes and whether to review its job architecture implemented following the merger to ensure it is robust and applied consistently when the legislation is implemented. “We really need to be ready. And it’s going to be a huge undertaking. We have planned for next two years in terms of what it’s going to take,” Salem-Moreira added.
The company is also looking at the impact pay transparency will have on its benefits offering. “A lot of benefits have a monetary value and we are already thinking about the legislation every time we have a request for exceptions for example,” Salem-Moreira says.
