L’Oréal celebrates 10 years of its Share & Care social innovation and employee benefits program
L’ORÉAL CELEBRATES 10 YEARS OF ITS ‘SHARE & CARE’ SOCIAL INNOVATION AND EMPLOYEE BENEFITS PROGRAM
Introduces new benefits to support employees with cancer and promote mental health
Clichy, 16 November 2023 – L’Oréal today recognized the ten-year anniversary of Share & Care, the social innovation and employee benefits program launched in 2013 that today serves the Groupe’s employees around the world. Since its launch, Share & Care has ensured that all L’Oréal employees enjoy social protections of the highest standard, alongside best-in-class benefits in each market in which L’Oréal operates. Share & Care continues to evolve, incorporating new social initiatives – in areas such as cancer, domestic violence and mental wellbeing – to protect and support employees amidst a changing social landscape.
Share & Care provides a global framework for a vast range of employee benefits spanning health, financial support, wellbeing and the workplace, with provisions that often surpass the local requirements. Already, Share & Care has enshrined a minimum of 24 months' salary1 in case of disability, natural or accidental death; at least 14 weeks fully paid maternity or primary parental leave; six weeks fully paid paternity or secondary parental leave; 75% minimum reimbursement for major health expenses; and a decent wage2 as the ‘gold standard’ available to every L'Oréal employee in every country.
“We conceived Share & Care as a long-term commitment to our employees so that each L'Oréalian feels supported and cared for, wherever they are and whatever may be happening in their lives. We believe Share & Care is one of the most comprehensive and ambitious employee benefits programs that an international company can offer,” said Jean-Claude Le Grand, Chief Human Relations Officer, L’Oréal Groupe.“Social innovation has always been part of the L'Oréal mindset and current times compel us, more than ever, to help and support our people in order to help them face ongoing global uncertainties.”
In 2023, Share & Care expanded its scope by introducing new measures, both reactive and proactive, to further support employees facing unexpected life events.
Supporting Employee Health and Personal Safety
Recognizing the growing toll of cancer on society, in 2023, Share & Care introduces new benefits for those who have been diagnosed with cancer such as financial, psychological and practical support during treatment and upon returning to work. Alongside pre-existing cancer awareness and prevention campaigns, the new benefits underscore L’Oréal’s commitment to the Working with Cancer charter, which it signed as a co-founding member in 2022. Share & Care has also expanded support for victims of domestic violence, offering resources and support at the moment of need, and by committing to a safe working environment.
Encouraging Wellbeing in the Workplace and Beyond
During the Covid-19 global health crisis, Share & Care offered on-demand psychological support to employees and introduced a hybrid working policy, with the option to work remotely up to two days per week for eligible jobs. In 2023, Share & Care encourages employees to commit to their continued wellbeing, through worldwide mental health awareness actions, including specialized training on topics such as psychological safety. Furthermore, the Groupe continues to create workplace environments that support everyday life at L’Oréal, through spaces that encourage creativity, collaboration and connection, as well as spaces for reflection and concentration.
For over 110 years, L’Oréal, the world’s leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 37 international brands and ambitious sustainability commitments in our L’Oréal for the Future programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality.
With 87 400 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, hair salons, branded and travel retail), in 2022 the Group generated sales amounting to 38.26 billion euros. With 20 research centers across 11 countries around the world and a dedicated Research and Innovation team of over 4 000 scientists and 5 500 tech and digital professionals, L’Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse.
More information on https://www.loreal.com/en/mediaroom
"This press release does not constitute an offer of sale or solicitation of an offer to purchase L'Oréal shares. If you wish to obtain more comprehensive information about L'Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our website www.loreal-finance.com.
This press release may contain forecast information. While the Company believes that these statements are based on reasonable assumptions as of the date of publication of this press release, they are by nature subject to risks and uncertainties which may lead to a discrepancy between the actual figures and those indicated or suggested in these statements.”
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For further information, please contact your bank, stockbroker of financial institution (I.S.I.N. code: FR000012031) and consult your usual newspapers or magazines or the Internet site for shareholders and investors, www.loreal-finance.com, the L’Oréal Finance app or call the toll-free number from France: 0 800 66 66 66. 0 800 66 66 66
1 Or equivalent pension
2 Living Wage Employer-certified by the Fair Wage Network, 2022
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