At The Coca‑Cola Company, we believe in equal pay for equal work. Pay equity is an important pillar of our diversity, equity and inclusion strategy.
Our approach to compensation is grounded in principles of fairness and equity for all employees. We believe that employees in the same job, or similarly situated jobs, should be paid fairly and equitably for their work. We work with external experts to identify and adjust unfair disparities in our pay structures. In the United States, we have conducted pay equity analyses for many years to ensure our pay practices are fair. We have also rolled out gender-based pay equity analyses across our offices globally.
To ensure neutrality, we engage independent, third-party experts to conduct pay equity reviews. They analyze compensation of employees performing similar work or hold similar roles to identify and address unfair disparities and ensure that all employees are paid fairly and equitably for comparable work, regardless of their race/ethnicity (U.S. only) or gender (globally).
Our pay equity analysis focuses on ensuring that our employees are paid equitably as compared to their internal peers. External market rates of pay are not considered as part of the internal pay equity analysis. The company’s market benchmarking analysis compares employees’ compensation levels to similar roles in peer organizations.
We are working to embed our pay equity philosophy into our business practices and processes. It is also our intent to evolve our pay equity analysis to look beyond levels of base pay to broader aspects of Total Rewards.
We will continue to build on the progress we have made by accelerating and advancing our pay equity agenda.
For additional information on DEI and our disclosure, please see our 2022 Business and Sustainability Report.