The Welfare Program
Listen"More Value for Employees" program
Supporting the buying power of employees and their families in Italy even through the difficult times:this was the underlying reason that drove Luxottica to launch an innovative non-monetary benefits system in 2009 for its entire business population in Italy.
Luxottica’s “More Value for Employees” program grew out of a widespread awareness that maintenance of buying power, more than nominal pay, was the problem and that industry and government could no longer afford not to act. The basic idea behind the initiative was therefore to reduce the gap between business cost and real buying power through alternative income support instruments.
These considerations led Luxottica to develop an innovative compensation model to operate alongside traditional incentive systems. The offer of goods and services increases purchasing power at least twice as much as monetary remuneration. This model consists of the following:
• personal shopping card for food and other day to day consumables;
• preventive and diagnostic medical services;
• dentistry, paediatric and specialist medical care;
• transport;
• social services to prevent and cure problems encountered by the employee and his/her family;
• grants for schooling expenses;
• scholarships for meritorious students.
• preventive and diagnostic medical services;
• dentistry, paediatric and specialist medical care;
• transport;
• social services to prevent and cure problems encountered by the employee and his/her family;
• grants for schooling expenses;
• scholarships for meritorious students.
The resources Luxottica dedicates to the Welfare system is tied to the capacity of the whole productive organization to reach the best results in terms of quality, a critical success factor for competitiveness and “Made in Italy”.
Initiatives are managed jointly with the trade unions and provide concrete proof of the consolidated relationship both on a national and territorial level between the Group and the workers' representatives, hence Luxottica has constituted a project Governance Committee with the trade unions.It is an equal representative body with the task of identifying, proposing and sharing programme interventions; the Scientific Technical Committee works alongside, carrying out social-economic and financial analyses useful to assessing the best possible fund allocation.
Last update: 2 SEPTEMBER 2011
