1.4 2023 Financial Results and Corporate Social Responsibility commitments
1.4.2 Corporate Social Responsibility (CSR): shared and lasting growth1.4.2. Corporate Social Responsibility (CSR): shared and lasting growth
Priority to Human Capital
As the Group’s founder, Eugène Schueller, declared with conviction: “a company is not walls and machines but people, people and more people.”
Employees are the driving force behind the Group and one of its major competitive advantages. They are working to roll out the Group’s vision through its portfolio of brands, its governance, its research and innovation, data and technology in its transformation.
The Group’s human and social project revolves around one vision: to offer its employees an inspiring, inclusive and innovative working environment, which places human beings at the heart of each of its decisions. This is reflected in particular in developing the individual and collective performances of its employees and investing in the skills of the future. This also relies on a working environment that promotes engagement and collective performance, where growth is shared with employees.
Social innovation is at the heart of this approach, particularly with the Share & Care programme, the L’Oréal For All Generations programme or the programmes to transform our working methods (Simplicity 2 or Best of Both, the hybrid working policy).
L’Oréal has always targeted constant, sustainable growth.
Since its very beginnings, the Group has been committed to developing its presence in all regions of the world by applying the fundamental rules of a good corporate citizen. The products offered to consumers meet the highest quality standards; the Group’s social commitments are the same in all its subsidiaries. Social audits are also carried out on suppliers.
As far as its resources allow, each subsidiary takes part in the financing of sponsorship initiatives in keeping with the key pillars of the Group’s commitment to philanthropy. Above and beyond its solid long-term economic performances, L’Oréal seeks to be exemplary and sets itself demanding standards in order to limit its environmental footprint. All production centres comply with the same rules aimed at reducing their environmental footprint.
All these aspects are set out in more detail in subsection 4.3.2.
Focus: sharing growth with employees
The L’Oréal Share & Care programme is a large-scale social programme initiated in 2013. It consists of commitments revolving around four pillars that were enhanced in 2021 and 2023, and implemented in all countries: social protection, healthcare, work/life balance and the working environment.
Protection
Providing employees and their families with sufficient financial support for unexpected life events.
Healthcare
Providing employees and their families with access to a high-quality healthcare system and prevention measures, placing greater emphasis on mental and emotional health, to create a new global approach to personal ecology.
Work/life balance
Enabling all employees to fully experience milestones in life such as parenthood and enabling working organisation for a good work/life balance.
Working environment
Offer employees the most pleasant, collaborative and productive work spaces.
Sharing value with employees includes the measures detailed in particular in paragraphs 4.3.2.4, “Creating conditions for a stimulating and attractive work environment” and 4.3.2.5. “Offering a motivating and competitive remuneration system”, a remuneration policy that combines external competitiveness with internal fairness, rewarding both individual and collective performance; employee share ownership schemes; profit-sharing; employee benefit and pension schemes.