Human Resources

Job satisfaction at Landsbankinn scored very high in 2019. The focus on equality was sharpened even further with Capacent’s Equality Indicator and the Bank received equal pay certification. The Bank’s educational programme has seldom been as rich and varied, supporting a workplace culture where employees are actively encouraged to seek new knowledge and to share it with their colleagues.

Fara neðar

Landsbankinn employs exceptional individuals with a varied background. The Bank’s HR policy emphasises job satisfaction, a positive work environment and effective job development. Landsbankinn has for many years focused on ensuring equal pay and equal job opportunities.

Gender ratios at Landsbankinn

Executive Board
Head of Department
Branch Managers
Middle Managers
Specialists - university degree
Service Managers
Customers Service Representatives and Cashiers
Other employees

Equal pay certification legally required

Landsbankinn attained legally required equal pay certification in March 2019 and has since operated in accordance with a certified equal pay system. The gendered wage difference in the Bank is calculated regularly and in 2019 it has ranged between 1.4-1.8%, in favour of male employees. Regression analysis of December 2019 wages reveals a 1.5% gender-based wage difference.

The Act on Equal Pay Certification from 2017 provides that certification shall be based on the Equal Pay Standard ÍST 85. The key aim of equal pay certification is to counteract a gender-based wage gap and boost gender equality in the labour market. Implementation of an equal pay standard at Landsbankinn in fact means that the Bank has enacted a control system which ensures that handling and decisions about wages is based on objective factors, free of gender-based discrimination.

Gender ratios in Landsbankinn

Emphasis on SDG No. 5 - Gender equality

Landsbankinn is focused on working to attain three of the UN's Sustainable Development Goals (SDGs), including goal 5, on gender equality. Prior to gaining legally required equal pay certification, the Bank had twice been awarded the golden seal of PwC's Equal Pay Audit, initially in 2015, first of the domestic banks. Landsbankinn wants to ensure that men and women receive equal pay for equally valuable work and has set itself the goal of ensuring at least 40% representation by either gender in the Bank's management teams.

Conference on workplace equality

In November 2019, Landsbankinn hosted a conference on equality in the workplace along with Landsvirkjun and Alcoa Fjarðaál. The conference was held in Egilsstaðir and was very well attended. The focus was on the importance of emphasising equality in business. Lilja Björk Einarsdóttir, CEO of Landsbankinn, spoke at the conference and participated in panel discussions.

Equality boosted with Capacent’s Equality Indicator

Landsbankinn is a member of Capacent’s Equality Indicator, a wide-reaching undertaking to analyse the status of equality within the Bank in detail. All Bank employees were involved in the project which began in 2018. During implementation of the equality indicators, goals were set in 6 categories leading up to the year 2022.

Several actions were undertaken in 2019 to work towards these goals. A development and mentor system was created to help employees strengthen their job development trajectory. Representation on behalf of the Bank in media and conferences was registered. This proved effective and a gender balance was attained at year end. A contingency plan for bullying, gender-based discrimination, sexual harassment and violence (EKKO) was introduced to employees during the year. A register has been maintained of the gender ratio of applicants in all hiring processes, logging interview calls and information about final hiring decisions. Management was instructed on the pervasiveness of subconscious prejudices and ways and means of counteracting them.

Goals for 2022 set based on Capacent’s Equality Indicator

  • Development and mentor system, establishing solutions to help employees strengthen their job development trajectory.
  • Role models, the gender breakdown of representatives of the Bank.
  • Culture, ensuring that processes related to EKKO are clear and credible and that employees receive regular instruction about EKKO.
  • Education, events on equality issues and educational campaign for employees..
  • Hiring process, work towards eliminating unconscious prejudices in personnel appointment.
  • Equal gender representation, achieving a 40/60 gender ratio in all levels of management.

Challenges relating to human resources

Financial undertakings face various challenges relating to human resources. Landsbankinn must ensure that it is a desirable workplace for coming generations and also attempt to bridge the demographic gap that may form in the workforce. Jobs are changing as a result of automation and the skills and competencies of employees must be developed to ensure appropriate qualification and expertise for each position.

Key focus points in gender equality:

  • Landsbankinn is a workplace where men and women have equal opportunity for employment and board membership.
  • Landsbankinn aims to attain a gender balance in its workforce and to avoid earmarking certain jobs for either gender.
  • Landsbankinn pays equal wages to men and women for equally valuable work.
  • Landsbankinn is a workplace that allows its employees to harmonise work and private life.
  • Landsbankinn does not tolerate bullying, discrimination, gender-based or sexual harassment or violence.
  • Landsbankinn ensures that all employees have equal opportunities for job development, to train and study.
Education in figures
3,139 Participants in educational events at Landsbankinn in 2019 numbered 3,139.
166 166 educational events were offered at Landsbankinn in 2019.
3 Each Bank employee attended an average of 3 events on the education programme.
5 Each Bank employee completed 5 electronic courses on average.

Robust education programme

The aim is to provide a work environment that encourages employees to seek new knowledge and to share their skills. Employees are encouraged to seek instruction and training both from external parties and in-house. The education programme is varied and a new education programme allows the Bank to boost its offering of electronic instruction and training. In 2019, 42 online courses were offered and completed by 4800 employees. Each employee completed an average of 5 online courses.

In 2019, 89% of employees attended some job-related continuing education or education offered by the Bank that is not considered mandatory.

New skills introduced through education

Landsbankinn is focused on empowering employees to develop and grow in their work. In 2019, the Bank continued underlining the importance and benefit of pursuing knowledge. This focus was first introduced in 2018. Employees were offered work and study counselling, enabling them to analyse their own position and make plans for job development. The focus was deepened by introducing and instructing on the skills that will be desirable and sought after in the changing work environment of the future.

Employee participation in continuing education in 2019

Effective job development

A project titled Effective job development was initiated in 2019, whereby HR advertised for up-and-coming leaders or experts interested in participating. A total of 45 applications were submitted and 18 individuals were invited to participate.

Participants receive personal executive coaching and assistance in creating a job development plan. They participate in courses and workshops designed to empower employees both professionally and personally. Participants build skills in areas classified as so-called 21st century skills. The project was a success and will be repeated.

Digital literacy

A series of lectures titled 21st century skills was organised in 2019. The focus was on digital literacy, one of the three skills classified as 21st century skills. Digital literacy consists of information literacy, media literacy (news and social media) and technical literacy. Individuals who possess these skills should be able to identify key points and use content appropriately. Lectures in the series focused on children and the Internet, personal data and the Internet, fake news and the future of democracy, and cyber security.

Main projects in education in year 2019:

  • Effective job development
  • Online training for new employees
  • 21St century skills
  • Digital literacy

21St century skills

Ability to learn and create Digital literacy Professional and personal strengths
Critical and solution-oriented thinking Information literacy Flexibility and adaptability
Creativity and innovation Media literacy Initiative and independence
Communication skills Technical literacy Social and intercultural relations
Collaboration skills
Efficiency and reliability

Prevention and contingency plan for bullying and sexual harassment

Implementation of a prevention and contingency plan against bullying, sexual or gender-based harassment, and violence (EKKO) continued in 2019. The Bank’s employees received instruction on the issue in spring and management had previously received similar instruction. The hope is that EKKO increases awareness and ensures professional resolution The Bank measures both the frequency of incidents (experiences) and notifications, in an annual workplace audit.

Morale never better

Landsbankinn performs a workplace audit in the first quarter of each year and a less comprehensive follow-up survey in autumn. The survey, dubbed the "health check" is intended to follow up on the goals for improvement set in the wake of the workplace audit. Together, these two surveys provide important indication of employee views on the workplace and show that job satisfaction and pride is very high and remains steady across years. The same can be said about morale which the surveys show to be very high. It is especially gratifying to see the record-high morale of 2018 being carried forward into 2019.

Overall satisfaction*

*Overall, I am satisfied in my position at Landsbankinn.


*I am proud to work at Landsbankinn.


*I think there is good morale in my department / branch.

Risk assessment of psychological and social health

It was decided to partner with Auðnast ehf. on risk assessment of the physical and mental health of employees. The evaluation includes evaluation of physical health and all employees will undergo related health checks.  The purpose of creating a written plan for health and safety in the workplace is to prevent and reduce the malaise and damage to health employees can suffer in the course of their work. Regard is had for factors that may influence physical, mental and social health. 

Performance reviews

The Bank utilises a performance evaluation programme based on annual interviews between employees and their superiors. Each employee attends performance interviews with his/her immediate superior and receives clear feedback on the previous year's work, both positive and negative aspects. As a general rule, there are three performance interviews per annum.  The number and focus of interviews may vary depending on the manager and job in question.

Full-time equiv. positions at year end

* Main influencing factor was the merger of Landsbankinn and SpKef.