Human Resources

It is Landsbankinn's goal to employ capable, ambitious and satisfied individuals. In 2017, concerted efforts were made to strengthen the educational programme even further and create a learning culture that encourages employees to take responsibility for their own knowledge and share it with co-workers.

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Landsbankinn's human resources policy reflects the Bank's emphasis on creating a positive work environment characterised by employee satisfaction and robust information sharing. Offering equal job opportunities and equal wages is important to Landsbankinn who has twice received the Golden Seal of PwC's Equal Pay Audit and is currently working to achieve equal pay certification.

Gender ratios at Landsbankinn

Executive Board
Branch Managers
Department Heads
Customers Service Representatives and Cashiers


Landsbankinn makes a point of ensuring equal pay and job opportunities for all employees. The Bank has set itself the goal of ensuring at least 40% representation by both genders in the Bank's management teams. Landsbankinn was the first Icelandic bank to be awarded the golden seal of PwC's Equal Pay Audit in 2015 and received it again in 2016. In 2017, the Icelandic parliament Althingi passed a law on equal pay certification and it entered into force on 1 January 2018. The Bank has begun preparing for the certification process and aims to achieve certification under the equal pay standard in 2018.

Landsbankinn's equal rights policy and action plan are under review and revaluation, having regard for, amongst other things, the issues brought to light by the #metoo campaign.

Throughout the years, Landsbankinn has consistently worked to achieve gender equality and published independent analytical articles on the pay gap. At Landsbankinn, it is clear that men and women shall enjoy equal opportunities and rights in their jobs and to career advancement and that women and men shall receive equal pay for equally valuable work. Landsbankinn has a zero-tolerance policy towards bullying, discrimination, gender-based or sexual harassment.

Gender ratios

Corporate culture

Landsbankinn makes concerted efforts to strengthen its corporate culture whereby the customer is placed first, work builds on effective collaboration, progress is continuous and all employees are individually responsible for success. Powerful and strong leaders are key to this future vision, both as active participants and as role models.

Defining the role of leader is integral to improving corporate culture. Landsbankinn's executive model sets out the expectations the Bank has of leaders. They must be possessed of a strong character, be able to build robust teams, take responsibility for the success of their employees and be constantly mindful of the strategy and vision of Landsbankinn to ensure continued progress.

The Bank has implemented performance management methods that involve setting clear goals for business units and employees, following up on goals and assessing the impact that each unit's success has on the Bank's overarching objectives. To follow up on the goals of individual employees, the Bank utilises a performance evaluation programme based on annual interviews between employees and their superiors.

Changes were recently made to the performance interviews, making them more frequent and more focused. Interviews will continue to centre on setting goals for coming months.

Stjórnendalíkan copy

Workplace launched

The social networking tool Workplace was launched in 2017 and the forum allows all Landsbankinn employees to monitor news and issues, share content and participate in discussion about matters pertaining to the Bank. Following a successful launch, Workplace has been very well received.

Workplace replaces the Bank's Intranet as the main information dissemination network for employees and allows all employees to share information they deem useful, both to all colleagues or within certain groups. Measurements show that employees are very active on Workplace, with 75% of all employees checking in daily and almost all employees at least once weekly.

Increased job satisfaction: Workplace audit and follow-up survey

Landsbankinn performs a workplace audit in Q1 of each year and a less comprehensive follow-up survey in autumn. The latter 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 on job satisfaction.

The results of the health check, published in October 2017, show that job satisfaction is very high and has increased.

Employees active daily on Workplace

Overall satisfaction*

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


*I am proud to work at Landsbankinn.


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

Careers of the future

It is clear that financial undertakings face significant challenges going forward, so much so that it is often referred to as the fourth industrial revolution. The challenges and changes the future holds will call for a revision of human resources policies within financial undertakings. Future jobs will not necessarily require the same competences and knowledge today's jobs do, requiring Landsbankinn to look to developing its human resources for the future to ensure that the Bank always has the right person for the job.

Employee participation in continuing education in 2017

Robust education programme

It is Landsbankinn's goal to employee capable, ambitious and satisfied individuals. The Bank's education programme emphasises contributing to a work environment where employees are encouraged to develop in their jobs and ensure that they possess the necessary knowledge and competences to achieve success in their careers. Emphasis is placed on strengthening the individual and employees are encouraged to attend courses and seek education opportunities outside the Bank, if appropriate.

All employees have access to a diverse education programme. In 2017, around 170 educational events were held and they were attended by around 3300 participants. Each employee attended an average of 3 events on offer. A majority of the Bank's employees is active in continuing vocational training, as 84% of employees participated in training events in 2017, either in-house or externally. The average number of training hours per full-time equivalent position in 2017 was 10.5 hours.

Education in figures
3,300 Participants in educational events at Landsbankinn in 2017 numbered 3,300.
170 170 educational events were offered at Landsbankinn in 2017.
84% 84% of the Bank's employees participated in some work-related continuing education in 2017.
10.5 The average number of hours of instruction per full-time equivalent position was 10.5 hours.
3 Each Bank employee attended an average of 3 events on the education programme.

Learning and sharing - knowledge communication

Various factors in Landsbankinn's operating environment call for new approaches to job development and education. The main factors are the technological revolution of jobs and changes to the legal environment of financial undertakings. The means of learning and sharing have never been as varied.

In 2017, Landsbankinn has strategically revised its education programme to forge a learning culture based on current developments. The project is titled "learning and sharing" and it aims to create a work environment which encourages individuals to take responsibility for their own knowledge and share it with co-workers.

A learning environment is characterised by:

  • Clear knowledge demands and learning processes
  • Varied study methods
  • Smart learning
  • Inviting presentation of education
  • Encouragement and support for learning
  • Good overview of knowledge and learning

Key related projects in 2017:

  • Use of Workplace as a platform for learning and sharing
  • Survey of learning culture in the Bank in spring 2017
  • Conversations with managers focused on the importance of encouraging learning and sharing
  • Increased supply of electronic learning tools
  • More diverse teaching methods in courses offered by the Bank
  • Robust presentation of educational programme both in-house and externally
  • Preparation for implementation of new electronic learning forum