L'Oréal Finance - Beauty, a value for the future

Published on 12/05/2015

Roll-out of Share and Care global social program

L'Oréal rapidly deploys its global social program “Share & Care” in 68 countries to reach 100 % of its objectives by the end of 2015

Clichy, 12 May 2015 - L'Oréal is deploying its “Share & Care Program” aimed at guaranteeing the best social practices in welfare, health, parenthood and quality of life at work for its employees in the 68 countries where the Group is present. By the end of 2015, L'Oréal aims to reach 100 % of the social policy targets identified at the launch of this innovative program in 2013.

According to Jean-Paul Agon, Chairman and CEO of L'Oréal, "With the “Share & Care Program,” L'Oréal's desire is to combine the globalisation of economic performance with the globalisation of social performance. This program symbolises the universalisation of L’Oréal’s social model and represents a real progress driver."

"At a time when only 39% of the world's population has access to medical coverage, the “Share & Care Program” offers a major social breakthrough in many countries. Thanks to the mobilisation of all of our teams, the program is being deployed very quickly and aims to reach the targets set for the end of 2015," said Jérôme Tixier, Executive Vice-President Human Resources at L'Oréal. "It is the only worldwide social initiative that is so comprehensive, systematically deploying the four pillars - welfare, health, parenthood and quality of life at work - internationally."

Regarding health, L'Oréal’s objective is to introduce complementary health insurance schemes to allow for a minimum reimbursement of 75% of health expenses for main risks, such as surgery or intensive treatments, in countries where the social health system does not provide such a coverage. By the end of 2014, 58 countries had introduced this program, compared with 26 in 2012. The goal is that all 68 countries reach this minimum standard by the end of 2015.

In the case of death, 7 countries paid the equivalent of 24 months' salary to the deceased employee's family as compensation in 2012. In 2014, this grew to 49 countries, 72% of the total. At the end of 2015, 68 countries are expected to reach this result.

Regarding parenthood, L'Oréal’s commitment is to guarantee a minimum of 14 weeks of maternity leave paid at 100%. In 2012, 24 countries offered this guarantee, and in 2014, 54 countries. At the end of 2015, 68 countries are expected to reach this result.

L'Oréal's social program is part of the Group's four areas of improvement announced by Jean-Paul Agon on 23 October 2013, at the launch of the sustainable development commitments “Sharing Beauty With All”:
- innovation, so that 100% of L’Oréal products have an environmental or social improvement;
- production, to reduce greenhouse gas emissions in absolute terms, water consumption and waste per finished product by 60%;
- consumption, raise consumers’ awareness of the environmental and social impacts of their consumption;
- developing sustainably to share growth to benefit collaborators, suppliers and communities around us.

For more information, the 2014 Sharing Beauty With All Progress Report can be seen here:http://www.sharingbeautywithall.com/en