| Story | PROBLEMPeru has one of the highest wage gaps in Latin America ; 29.6%.OBJECTIVES• A high-impact idea that makes people and media talk to maximize problem awareness.• Make clear evidence and actions to reduce the wage gap.IDEABank on Equality compensates the wage gap difference between men and women with the bank's product that shows the wage gap: Payroll accounts.We measured authorized data to compares all of our female client's salaries with that of a male counterpart, recognizing critical variables such as age, occupation, education, and geographic location. This measurement allowed us to know the specific wage difference for every one of our female clients. In turn, Scotiabank would automatically fill that salary gap with the banks' currency: ScotiaPoints, a digital currency that customers use as real money to purchase products and experiences.RESULTS$5,000,000 in press coverage.The Center for Global Development commented on our initiative.20% growth of new accounts.The National Superintendence of Labor Inspection (SUNAFIL) finally placed a law that prohibits wage discrimination between men and women. |
| Philosophie | As Peru has one of the highest rates of the gender wage gap in Latin America (29.6%), Scotiabank, one of the largest banks in Peru, made a public commitment to change this. With the help of Wunderman Thompson Peru, and on the occasion of International Women’s Day, Scotiabank surprised all its female clients who opened a Payroll Account on March 9 with an equal salary, generating an immediate buzz. Each female client received an additional 29.6% salary, equivalent to the gender wage gap in the country, with the bank's currency, Scotia Points, bonus points that can be used as real money to purchase or redeem on products and experiences. To determine this additional salary, the bank developed an algorithm comparing female client salaries with a man’s, considering variables such as age, occupation, education and geographic location. The official digital campaign from Wunderman Thompson Peru to celebrate International Women’s Month includes Instagram stories, Facebook PPV, and mailings. The campaign also includes posters and window displays on all Scotiabank branches, brochures, and promotional materials. Scotiabank’s Gender Equality drive is not new and knowing the company cannot face this problem by itself, in March 2019, in alliance with other organizations like PWC (PriceWaterhouse Coopers), Aequales, El Comercio and Wunderman Thompson, it launched the first edition of the “Egalitarian Prize” (www.premioigualitario.com), an initiative that recognizes companies for innovative practices that contribute to the reduction of the gender wage gap. More than 62 companies have participated in this initiative, including PEPSICO, LATAM Airlines, Western Union, Procter & Gamble, Telefonica, Laboratoria, among many others. On March 12, the best practices for gender equality will be recognized in an awards ceremony, looking to inspire more companies to commit on closing the gender wage gap in the country. |