At this year’s Fair Pay Awards, IT company Devbridge, which is part of Cognizant Softvision, was recognized for the second year in a row as having a fair and non-discriminatory remuneration policy for its employees.
The winners of the award were selected based on a detailed remuneration study conducted by Baltic Salary Survey (Figure Baltic Advisory) that included the most advanced companies from across Lithuania.
In the annual study, the companies are evaluated according to four main criteria with different weights. The first criterion is wage homogeneity, when the range of base salaries is calculated for the same positions (the difference between the lowest and highest paid employees). The second is how the differences in salaries for the same positions differ by employee group (gender, age, region). The third criterion analyzes how the salaries received by the employees at the company align with market standards for the positions, while the fourth monitors gender balance at the management level. The award is given to companies in different categories, which are based on the number of employees. This year, Devbridge was among the winners in the large company category for the second year in a row.
Employees and results are treated equally
According to Devbridge vice president and head of the Lithuanian branch Viktoras Gurgždys, fair pay has been part of the company’s strategic approach for many years now, and is a fundamental and indisputable value.
“At Devbridge, career opportunities and remuneration always depend on the competences the employees have and the amount of personal effort they put in to achieve their goals as well as those of the team and the organization as a whole. However, we try to evaluate each of the company’s employee individually, regardless of their gender, beliefs, or the specifics of the sector.
“Every IT product we develop is unique, so our employees are constantly improving by delving into the technical details and the intricacies of the client’s business. Working in the field of IT, employees have to continuously grow their competences and update their technical knowledge, and all of this effort and hard work has to be evaluated fairly, both in financial terms and by providing employees with excellent opportunities to grow, both in terms of competencies and positions, as well as by ensuring a healthy and equal work environment,” emphasizes Mr. Gurgždys.
Recognized for the second year in a row
According to Baltic Salary Survey (Figure Baltic Advisory) rewards consultant and Lithuanian market remuneration study manager Povilas Blusius, a large number of companies compete for the top positions every year. This study is exclusively empirical, involving objective factual data that is analyzed using an algorithm that includes the four criteria already mentioned.
“I’m happy to say that, like every year, the results of a large part of the companies are excellent, and choosing the best is becoming more and more difficult. However, only organizations with excellent or even perfect scores for all of the criteria end up among the winners. Based on an objective analysis, we can consider Devbridge to be one of the most exemplary reward management organizations in Lithuania, which is why it is among the winners every year,” says Mr. Blusius.
Will try to attract more women into tech
Mr. Gurgždys emphasizes that ever since the company was established, Devbridge has been transparent in sharing information with its employees – whether it be financial results, income or even profit earned. Employees know the level and salary range for their own and other positions, and are always informed in advance about the amount of bonuses expected to be paid at the end of the year, the date planned for the next salary review, and clear criteria that are used to evaluate them in their daily work.
“The IT sector is still significantly dominated by men, but for many years now, we have been actively trying to attract more women into tech by inviting them to join our free Sourcery academies, and also by ensuring equal opportunities in the workplace. We are happy to see that the number of women is growing not only on our company’s teams, but in management as well,” notes the company’s vice president.
Devbridge is a privately held software consulting and product development company. The organization is currently united by a community of more than 700 professionals working in five countries around the world. The company’s strategic goal is to help clients look at business processes through the prism of creating innovative digital products.
At the end of last year, Devbridge became part of global giant Cognizant Softvision in a move to expand its software product engineering and service capabilities. The company’s main goal will continue to be creating cutting-edge software and thus providing invaluable tools to help global companies, industries and business organizations grow successfully.