WELLESLEY, Mass., June 12,
2024 /PRNewswire/ -- In recognition of its commitment
and efforts to closing gender and racial pay gaps, Sun Life U.S.
has received the Wage Equity Impact Award from the Boston
Women's Workforce Council (BWWC). Six Boston-area companies, including Sun Life,
will be recognized for their wage equity achievements at the awards
event today at noon, at Boston
University's Center for Computing and Dynamics. Through
extensive research and analysis, Sun Life was able to drive a
statistically sound, sustainable approach to pay equity, and
confirmed that there are no systemic pay gaps for women or
professionals of color across the organization.
"Wage gaps are unfortunate holdovers from outdated approaches to
compensation, and I'm proud that Sun Life has a strong and
equitable salary structure," said Tammi
Wortham, senior vice president, Human Resources, Sun Life
U.S. "Every worker brings equal value to our organization, and we
have ensured that our compensation model reflects that – and will
continue to do so."
In 2016 Sun Life was an early signer of the BWWC's Boston
Women's Talent Compact, a region-wide commitment from local
companies to work towards closing the gender and racial pay gap.
The company's participation in the compact was facilitated by
Laura Welz, assistant vice president
of Total Rewards at Sun Life U.S., who will join the other awardees
for a panel discussion at today's BWWC awards celebration.
"I am proud to represent Sun Life at today's event, knowing how
committed the company has been to achieving this goal and becoming
an example of wage and representation parity," said Welz.
In December 2023, BWWC data from
compact signers revealed women earn 79
cents for every dollar a man earns, an improvement from the
30-cent wage gap reported by the
organization in 2021.
"We are encouraged and impressed by these companies' efforts and
the achieved results," says Kim
Borman, executive director of the BWWC. "These companies are
leading the way in Boston and
nationally."
In addition to its largest office in Greater Boston, Sun Life U.S. has office hubs
in Portland, Maine, Hartford, Conn., Kansas City, Mo., and Milwaukee, as well as many remote employees
throughout the country. The company has been named a Forbes Best
Employer for Diversity in 2023 and 2024 and is listed annually
on the Bloomberg Gender Equality Index. Globally, Sun Life has
committed to gender parity at vice president levels and above by
2025.
About Sun Life
Sun Life is a leading international financial services organization
providing asset management, wealth, insurance and health solutions
to individual and institutional Clients. Sun Life has operations in
a number of markets worldwide, including Canada, the United
States, the United Kingdom,
Ireland, Hong Kong, the
Philippines, Japan,
Indonesia, India, China,
Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March
31, 2024, Sun Life had total assets under management of
C$1.47 trillion. For more
information, please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New
York (NYSE) and Philippine (PSE) stock exchanges under the
ticker symbol SLF.
Sun Life U.S. is one of the largest providers of employee and
government benefits, helping more than 50 million Americans access
the healthcare and coverage they need. Through employers, industry
partners and government programs, Sun Life U.S. offers a portfolio
of benefits and services, including dental, vision, disability,
absence management, life, supplemental health, medical stop-loss
insurance, and healthcare navigation. Sun Life employs more than
8,500 people in the U.S., including associates in our partner
dental practices and affiliated companies in asset management.
Group insurance policies are issued by Sun Life Assurance Company
of Canada (Wellesley Hills, Mass.), except in
New York, where policies are
issued by Sun Life and Health Insurance Company (U.S.)
(Lansing, Mich.). For more
information visit our website and newsroom.
Media Contact:
Devon Fernald
Sun Life U.S.
Devon.Portney.Fernald@sunlife.com
Connect with Sun Life U.S.
https://www.facebook.com/SLFUnitedStates
https://www.linkedin.com/company/sun-life-financial
View original content to download
multimedia:https://www.prnewswire.com/news-releases/sun-life-us-receives-wage-equity-impact-award-from-boston-womens-workforce-council-302170955.html
SOURCE Sun Life U.S.