Swiss Company Leadership and the Gender Divide (2008-2018) – Report

Earlier this month, PwC joined forces with the data insight company Business-Monitor to publish a new gender parity analysis of all companies registered in Switzerland about the development of gender inequality within the workforce over the past decade. “This report aims to bring a new perspective on the representation of women in decision-making positions in the Swiss economy and how the landscape has changed over the past ten years.(Swiss Company Leadership and the Gender Divide, 2008-2018)

Key findings

  1. Women are “stuck” at lower-level decision making roles and change is not about to occur. The research confirms that the “glass ceiling” metaphor is not a myth. In 2018, less than one in four decision-makers in Swiss businesses are women. Over the past ten years, this rate has consistently diminished, as in 2008, the proportion of females in decision-making roles was one in three.
  2. There is a surprising difference between female representation trends of Limited companies (LTDs) and Limited Liability companies (LLCs). Although gender imbalance is lower in LLCs, both types of legal entities have an unequal percentage of women in decision-making roles (16.8% for LTDs and 27.1% for LLCs, in 2018) and an uneven gender spread across the responsibility hierarchy. This trend has slightly improved over the last decade in LTDs but the data shows that this is not the case for LLCs. An overall 2.2% drop in females holding decision-making roles can be observed over the past 10 years. Although LTDs are the best examples of the “glass ceiling” phenomenon, it is harder to break in LCCs.
  3. Gender balance is poorer in newer companies. With the efforts undertaken by the Swiss government and other worldwide organizations to raise awareness for equal pay and representation, one would assume that newly established companies are the front runners in terms of balanced workforces. Surprisingly, research shows that this is not the case. Companies founded after 2008 have a higher gender imbalanced rate than pre-existing ones.

What’s next?

The striking statistical data raises important questions as to why these gender imbalances exist, what strategies companies can implement to tackle them and why it would be beneficial for them do so. Indeed, the report identifies a compelling business case for gender equality, which can only be achieved through: a clear vision, leadership engagement and an action plan engaging the entire workforce and key partners to be more Diverse & Inclusive. These actions can ignite the change so your organization can be part of the journey to gender parity across the globe.

To understand where your organization is today regarding Diversity & Inclusion, we encourage you to take our short survey. After completion, you will receive an assessment indicating the strengths and opportunity areas of your program. You will also receive indications on how you compare to the benchmark of other companies in your region and industry.

At PwC we are committed to becoming more Diverse and Inclusive through a number of ongoing actions, including the HeforShe program. Our active HeforShe ambassadors are committed to ensuring equal pay for our workforce by becoming EQUAL-SALARY Certified.

We look forward to engaging in conversations with you on this topic.

PwC Switzerland
Sue Johnson
Tel. +41 58 792 90 98
sue.johnson@ch.pwc.com

PwC Switzerland
Christina Yap
Tel +41 58 792 90 29
christina.yap@ch.pwc.com

PwC research “Time to talk”: what has to change for women at work?

Many organisations are working hard to improve the Diversity & Inclusion (D&I) of their workforce, many with a specific focus on gender balance at leadership level. There is no one single bullet which can solve this complex challenge, it takes: time, commitment, vision and resilience to foster an Inclusive culture where everyone can flourish.

Recent PwC research “time to talk” highlights three areas for organisations for focus on to accelerate progress:

Transparency and trust – a way of conducting business in which employers offer their staff a clear understanding of the expectations on both sides of the employment equation.

What employers can do includes:

  • Provide consistent, accurate, accessible information about career progression and pay scales.
  • Hold open conversations with employees on where they stand and what is expected of them to advance.

Strategic support – networks mobilising women. Women need proactive networks of leaders and peers who will develop, promote and champion them at home and in the workplace.

What employers can do includes:

  • Role models of both genders to look up to and learn from
  • Mentors who help navigate the path to success
  • Sponsors who can push her to the next level
  • A circle outside of work who reinforce and support career aspirations

Life, family, care and work – we are all facing increasing demands from all walks of life, parenting, community for example, there is a need to find organisation solutions that work for all.

What employers can do includes:

  • Offer an on and off ramp strategy and policy, educating managers how to deal with returners to work, focussing on communication and a toolkit
  • Flexible friendly workplace, it is not just enough to have the policy, visible support is required from top leadership and education
  • Little visible steps can make big differences, for example a concierge at work or childcare solution support

A Diverse and Inclusive organisation is reached, one conversation at a time…

Read more about the PwC research “time to talk” and download the full report here.

 

PwC Switzerland
Sue Johnson
Tel. +41 58 792 90 98
sue.johnson@ch.pwc.com

Geneva International VAT Breakfast: E-invoicing & hot topics in indirect taxes

E-invoicing & hot topics in indirect taxes

So far, 2018 has been a very dense year for indirect tax professionals with various hot topics arising. In Switzerland, for instance, the recent clear rejection of the initiative “No Billag” will lead to changes in the scope of the radio-television fees that will be applicable to businesses as from 1 January 2019.

At the same time, compliance with e-invoicing and e-archiving obligations are being introduced in various jurisdictions such as Italy. During our upcoming event, we will go through the new rules and the compliance obligations across EU and Switzerland in terms of e-invoicing and e-archiving.

We will also follow up on the definition of fixed establishment providing insight on the recent developments particularly in Poland. The International VAT Breakfast will also feature recent hot topics that can impact businesses operating worldwide, such as the EU commission proposal for flexible VAT rates, the measures to strengthen VAT fraud prevention adopted by EU and non-EU countries and the introduction of the reverse charge mechanism for imports of goods in Portugal as from 1 March 2018.

Finally, as always, we will share with you the most significant developments with respect to the EU and Swiss case law.

To register for this event: Click here

Contact us

Patricia More
Tel.+41 58 792 95 07
patricia.more@ch.pwc.com

Manage VAT risk and gain valuable business insight with VATwatch

What’s the problem?

Being in control of your VAT data is becoming more crucial than ever. This stems from the fact that the tax authorities could have more information about your company’s VAT operations than you do. How is this possible?

It’s down to the growing complexity of the indirect tax compliance and control framework and the emergence of new reporting requirements globally. In response to these developments, tax authorities are no longer conducting sample checks, since they can use instant access to a company’s ‘raw’ accounting data and scan them to assess its VAT liability.

If you don’t have proactive control processes to review your transactional data and take action before this information is transmitted to the tax authorities, the consequences can be severe: more VAT audits, and increasingly complex questions from the authorities.

How can VATwatch help?

PwC’s VATwatch solution gives you a global overview of your flows, and helps you detect potential discrepancies and mismatches within your data before they’re identified by the tax authorities.

How can VATwatch help you manage VAT risk and gain valuable business insight?

Read more about VATwatch here to find out more about the benefits of our solution.

Do not hesitate to contact us to further discuss your situation.

Patricia More, TLS VAT Partner, PwC Geneva
+41 58 792 95 07 / patricia.more@ch.pwc.com

Antoine Wüthrich, Risk Assurance Partner, PwC Geneva
+41 58 792 82 27 / antoine.wuthrich@ch.pwc.com

Intensive Course on IFRS 2018

June 2018 | Swissôtel | Zurich

Does your company report in accordance with International Financial Reporting Standards (IFRS), or are you responsible for preparing the financial statements in compliance with IFRS? Is your company considering a move to IFRS? Or do you simply want to extend or to refresh your IFRS expertise? Then PwC’s intensive course on IFRS is right for you.

Objectives

Our module based IFRS course will help you deal with IFRS professionally and apply the standards competently by giving you:

  • a solid basic understanding of the most important IFRS/IAS standards and of recent developments
  • detailed knowledge of the content of these standards and how they are applied.

You will learn how IFRS facilitates transparent external reporting. But you will also find out how to use it as a helpful instrument that supports you in assessing the financial position of your company and in recognising priorities. The course shows you how to put the theory into practice.

Dates and Topics

The course will be held in four modules, each lasting one day from 8:30 am to approx. 6 pm, in English.

Monday, 4 June 2018
Module 1: Revenue (IFRS 15), Share based payments and others

Tuesday, 5 June 2018
Module 2: Leases (IFRS 16), Taxes, Pension, Foreign exchange rates

Monday, 11 June 2018
Module 3: Consolidation & Business combinations

Tuesday, 12 June 2018
Module 4: IFRS 9 Financial instruments

Organisation

All modules are specially designed for finance specialists and users of IFRS. In class you have presentations, group work, case studies and sharing sessions to expand and apply what you have learned.

Presenters and instructors

The course is presented by experienced PwC IFRS specialists.

Register here

Fee

Module 1: CHF 1,300 including VAT
Module 2: CHF 2,500 including VAT
Module 3: CHF 3,600 including VAT
Module 4: CHF 4,500 including VAT

For further information please visit our website Intensive Course on IFRS

Contacts

David Mason
PwC ACS Leader
+41 58 792 9490
david.mason@ch.pwc.com

Gesa Mannigel
PwC Assurance Director
+41 58 792 2454
gesa.mannigel@ch.pwc.com

Swiss Equal Pay Regulatory update: the conversation continues regarding pay equality

Swiss Equal Pay

On the 28th February, the Conseil des Etats (Swiss Parliament) rejected by a vote of 25 to 19 the proposed equal pay legislation. This is where organisations with over 50 employees would be required to carry out a regular (every 4 years) pay analysis, to ensure there is no discrimination between the pay of men and women. This analysis would then have to be reviewed by an approved independent 3rd party (eg an audit firm or an equal pay specialist recognised by the Federal Office for Gender Equality), and the results communicated to their employees (and shareholders where applicable).

Following this decision, the Parliament have requested the commission to consider alternatives and re-submit a new proposition for consideration, as the pay gap within Switzerland remains over 12% (FOS 2018) and the belief is that voluntary measures alone will not ensure organisations pay their male and female employees equally. Many governments in Europe are legislating that organisations measure and communicate their pay gap to all eg UK, Germany and Iceland.

The benefits of Equal Pay

Much research has been carried out on the benefits of a Diverse & Inclusive organisation (over 75% of CEOs who invested in D&I saw enhanced business performance and greater capacity for innovation within their organisations), paying employees equally for equal work is a fundamental part of an organisations Diversity & Inclusion strategy, as it has been shown to drive higher employee engagement, improves the organisations employee value proposition for potential talent, reduced potential reputation risk and also enhances retention.

Next steps

We recommend the following actions:

  • Be transparent regarding your total reward approach, educating employees on your compensation policy and strategy
  • Review your HR practices and policies for potential unconscious bias which could lead to pay discrimination between men and women
  • Carry out an analysis of your employee reward data to ensure there is no pay discrimination between men and women
  • Consider seeking an independent certification for your organisation which demonstrates your commitment to equal pay (eg certification by the independent non-profit the Equal-Salary Foundation.

We are keeping a close watch on any developments in this area, and will let you know as soon as we learn anything new.
Please feel free to contact us if you would like to discuss this important topic in more detail.

PwC Switzerland
Sue Johnson
Tel. +41 58 792 90 98
sue.johnson@ch.pwc.com

PwC Switzerland
Johannes (Joop) Smits
Tel. +41 58 792 91 64
johannes.smits@ch.pwc.com

Family business – Passing the torch and detecting intellectual property opportunities

Family Business - Receiving the torch and detecting IP opportunities
Capture your family business’ intellectual property to generate new opportunities.

As a broader term, intellectual property (‘IP’) comprises trademarks (brand protection), patents (invention protection) copyright (original work protection, e.g. literary and artistic work), designs (product appearance protection), confidential information and know-how. Regardless of their activities, family businesses always have one or more of the above IP rights. In particular, a family business’ brand is its most valuable asset. A brand is built up over the long term and conveys the core values of the family, becoming an integral part of the business, its success and its reputation. There are many examples of well-known family businesses with strong links between the families’ goodwill and their business’ brand. The families’ core purposes, identities, statements and principle business goals become the building blocks of theirbrand values.

Family business and brand heritage

In the context of the transfer of a family business to the next generation, intellectual property is a central matter. PwC’s IP Department has the expertise to assist the next generation in addressing challenges and strategic questions such as:

  • understanding the value of your family business’ IP and preserving the legacy
  • defining your family business brand identity and ensuring consumers’ perception of the family’s brand
  • defining IP ownership in the family by verifying ownership documentation
  • understanding each legal category of your business’ IP and analysing what can be done to maximise value with regards to each category
  • establishing ‘best practices’ on how to use the IP to create value for the family business
  • recognising new business opportunities and different applications of the IP by remaining open to and thriving on innovation
  • looking at the changing environment as a challenge rather than a threat

Interested?

Are you in the phase of passing the torch? Are you interested in discovering what opportunities IP can offer?

Take the first step on your transmission journey with PwC and contact Natscha Tsalas for more information.

Natascha Tsalas, IP Legal Services Geneva
+41 58 792 98 32 / natascha.tsalas@ch.pwc.com

Download the flyer

Disclose 27, Focus piece 1: High-Performing Teams

Disclose – PwC’s online magazine

«It takes people, digital technologies and trust to achieve top performance.»

Reading our latest issue of Disclose (disclose.pwc.ch/27/) you’re sure to get an adrenaline rush as we investigate a topic with particularly close connections to sport: high-performing organisations.

Focus piece 1 gives you an insight into the topic High-Performing Teams:

High-Performing Teams: Teams bring out the best in everyone

If you want to make the pace you have to set yourself high standards and give your very best performance. Many business leaders wonder if it’s possible to achieve this with their current crew. We believe it is. There’s more to a good team than the abilities of its individual members. By building trust, bringing people closer together, introducing and promoting a healthy culture of debate, and ensuring that everyone clearly recognises the common objective and the contribution they can make towards it, you can exploit this potential – and harness the power of high-performing teams for the benefit of your business.

Read more about the topic High-Performing Teams.

Contact

Charles Donkor
Partner, People and Organisation, PwC Schweiz
charles.donkor@ch.pwc.com
Tel. +41 58 792 45 54

NPO VAT Community breakfast: How will the VAT law revision impact your organisation?

On 1 January 2018, the VAT law revision will enter into force with many impacts for Swiss companies, associations and foundations, as well as foreign companies and non-profit organizations. VAT regulations rules and relevant turnover for determining threshold will change.

Are you wondering what this revision means for your organization?
Join our next NPO VAT community breakfast, which will take place on Tuesday 16 January at the PwC Geneva office from 8.30 – 11.00 am.

Details and registration

What should you expect from this event?

  • Get a first overview on the law revision’s impacts
  • Study comparative cases and examples
  • Discuss your current concerns & challenges
  • Get insight and recommendations from our PwC experts
  • Network with VAT peers from non-profit organizations

EU Referendum – Employers Q&A

The UK’s decision to leave the EU will have significant implications for business, and we are already working to support them as these implications become clearer.

Experience has taught us that UK business is adaptable and innovative when confronted with new challenges and opportunities. Nevertheless, there will be significant uncertainty over the coming months as the detailed political and legal issues are worked out, and business confidence may be impacted.

We are committed to helping you navigate through the new political and economic landscape and adapt to changing market conditions.

Read our newsletter to answer the following questions.

  • So what happens following 23 June 2016?
  • What is the position when we exit?
  • What is the position for EU/Swiss nationals in the UK?
  • What are the possible outcomes?
  • Can UK companies still employ EU/Swiss nationals?
  • What is the position for UK nationals in the EU/Switzerland?

 

If you have any further questions please contact Julia Onslow-Cole or Mirela Stoia.