The project to develop a value assessment system for the benefit of equal pay is being carried out at the level of a professional board in accordance with an agreement between the Ministry of Finance and Economic Affairs and the Equal Pay Agency in this regard, and can be an input into possible changes to collective agreements that the Minister of Finance and Economic Affairs makes on behalf of the Treasury. 

The professional board is working on the preparation, testing and development of procedures for the use of the value assessment system with support from the Equal Pay Office . Job profiles will be prepared for selected job groups to capture the content of the jobs and for the development and testing of the system. It must be ensured that the jobs that will form the basis of the job profiles, and the development of the system, are diverse and cross-cutting across government policy areas, with special emphasis placed on highlighting and assessing the factors that characterize jobs where women are in the majority.

The project is divided into four main parts: 

1. Preparation 
2. Data collection, job analysis and job profiles 
3. System development 
4. Job profile testing 

The product of the project is a complete value assessment system with definitions of elements and steps with help text, along with a questionnaire to support job evaluation. The value assessment system is to ensure that employees who perform equally valuable jobs enjoy equal pay and benefits, regardless of gender or other non-material variables, cf. Act No. 86/2018 on Equal Treatment in the Labor Market and Act No. 150/2020 on Equal Status and Equal Rights of the Genders.

All work is guided by the goals of equal pay, quality of public services and strategic human resource management in accordance with law, collective agreements and international obligations. The project is a collaborative project where board members has equal weight and decisions are made unanimously . 

On December 1, 2020, the Prime Minister appointed Working Group on Re-evaluating the Value of Women's Work . The working group was tasked with proposing measures to eliminate the gender pay gap in the labour market. The group submitted its proposals to the Prime Minister in September 2021 and proposed the establishment of a government action group on equal pay with the participation of the social partners. The group's role would be to identify undervalued aspects of jobs that women perform more than men and to develop tools that would support employers in ensuring equal pay for work of equal value regardless of gender. 

The Prime Minister subsequently appointed an action group of the government and the social partners on equal pay and equality in the labour market . One of the tasks of the action group was to launch a development project with the participation of four government agencies that were considered to reflect the different and diverse workplaces in the state. The Equal Pay Agency was approached to provide education on job valuation and to develop a valuation system in collaboration with the action group that would be suitable for promoting equal pay. 

To facilitate the conclusion of collective agreements in 2024, the Prime Minister and the Minister of Finance and Economic Affairs signed declarations on measures to combat the gender pay gap. Subsequently, the Prime Minister appointed a steering group on job valuation for the benefit of equal pay with the participation of social partners. The group's task is to develop a comprehensive valuation system that is guided by equal pay and takes into account the law, collective agreements and international obligations. In early 2025, the Ministry of Finance and Economic Affairs signed an agreement with the Equal Pay Agency on the development of such a system in cooperation with stakeholders. In the spring of 2025, the Equal Pay Agency requested nominations for a professional board for the development of a valuation system for jobs in the state from ASÍ, BHM, BSRB, KÍ and the Ministry of Finance and Economic Affairs.