RECRUITMENT

The Group places great importance on the selection and recruitment of personnel. In recent years in particular, it has invested much in the process.
Moncler seeks to attract and identify the best talent, people who stand out for their strong technical-professional and managerial skills but also for their personal qualities, passion, flexibility, identification with the Group’s values and, last but not least, a capacity for interpersonal relations that promotes positive, effective communication and an ability to adapt to a context in constant development.

Driven by the Group’s growth and geographic expansion, the recruitment process has focused on people with an international profile and broadly different cultural and educational backgrounds, as well as on expertise and experience suited to the future challenges the Group faces.

The interest drawn by the Company and its attractiveness as an employer are borne out by the growing number of job applications it receives.

In 2015 alone, approximately 14,000 resumes were submitted through the corporate website. Moncler has also joined the ranking of Italy’s InDemand Companies, the Country’s most desirable employers as identified on the basis of millions of interactions by LinkedIn members, their effective level of engagement and growth in followers, responses to published job advertisements and the number of people reached through online campaigns.

In order to guarantee even more the effective promotion of equal opportunities and the nurturing of company people even at the recruitment stage, in 2016 a new procedure that takes into consideration aspects of equal opportunities will be incorporated into the recruitment process and in 2017 vacant positions will be managed at the international level through a formal Job Posting system.

FORMATION

Training plays a key role in the process of nurturing people. It is an important tool for consolidating and developing individual skills while at the same time disseminating the Company’s values and strategy, supporting cultural and organisational growth. Certain training programmes are alsod esigned to enable people to contribute actively to the development and optimisation of business processes through work group sessions. In 2015 a total of around 440 thousand euros was invested in training (+22.4% versus 2014) and approximately 12,300 training hours were delivered (substantially in line with the previous year) to some 1,330 employees (+40.4% versus 2014);

65% of those employees were women. Training was delivered almost exclusively through classroom lessons (over 97%). This mainly involved professional training (42.4%), health and safety (27.8%) and managerial development (14.9%). Between 2014 and 2015, 518 people, including all employees involved in company security management, received training on the Code of Ethics (which includes human rights issues) for a total of approximately 660 hours. Employees involved in training activities included white-collars (69.1%), managers (14.9%), professionals (12.5%), executives and senior executives (1.9%) and workers (1.6%).

  2015 2014
Training expenditure (euros) 435.905 355.999
Hours of training (No.) 12.333 12.558
Employees involved (No.) 1.339 954
TRAINING

At the corporate level, Moncler primarily organised training programmes designed to reinforce the sense of company identity and the embracing of challenge, provide the methods and tools to interpret complex scenarios, stimulate innovation and the creation of value and ensure continuity and managerial expertise in key roles.

In 2014 and 2015 two specific training programmes were rolled out, one dedicated to management and one for young talents operating in corporate offices.

The first was focused on consolidating managerial skills, disseminating the values of Moncler and a company leadership style and developing methods for the effective management of people and work teams.

42.4%
Professionals
1.9%
Languages
27.8%
Health and safety
10.3%
Other
14.9%
Managerial
2.7%
Code of Ethics and Organisation, Management and Control Model

1. Training indicators do not include the Romanian perimeter.

2. The figure differs from the Annual Report at December 31, 2014 because it is calculated using a different method

REMUNERATION

Moncler’s remuneration system is designed to attract, motivate and retain people with the professional qualities needed for the future business growth envisaged by the Group.
It is based on the principles of fairness, equal opportunities and meritocracy.

As a listed company, Moncler has adopted a Remuneration Policy for Group directors and strategic executives in line with the recommendations set forth in the Corporate Governance Code for Italian Listed Companies. Remuneration policy involves the contribution of Human Resources Department, the Nomination and Remuneration Committee, the Board of Directors and shareholders through the Annual Shareholders’ Meeting (see the Report on Remuneration available in the Governance section www.monclergroup.com). Remuneration for company employees takes into consideration specific criteria, including market standards and internal fairness, roles and responsibilities assigned and the distinct skills of people, with every effort made to uphold objectiveness so as to prevent any form of discrimination. Annual compensation reviews are based on the meritocratic criterion, taking into account business results and individual performance assessments with a view to rewarding talent In every Country in which the Group operates, Moncler offers entry-level salaries equal to or above the statutory minimum provided by law or collective bargaining agreements, with no substantial difference between men and women.

82% of the professionals, managers, executives and senior executives employed have a dual salary structure with fixed and variable parts, balanced on the basis of the Company’s strategic objectives.

The variable component may be short-term in nature (Management By Objectives for store managers and corporate employees, sales commissions for retail personnel and production bonuses for people employed at the Trebaseleghe office – Italy) or long-term (stock option plans).

The Management By Objectives (MBO) system takes into consideration mostly quantitative objectives tied to the Group’s general performance (primarily EBITDA) and to the function and role. Objectives are generally economic-financial in nature, alongside qualitative objectives tied to strategic-operating activities.
As an incentive to achieve more remarkable results, mechanisms are in place that reward over performance, with a higher bonus offered where assigned objectives are over- achieved by a certain threshold.

In 2015 objectives tied to fostering a culture of sustainability were introduced for top management, while in 2016 social or environmental objectives will be assigned for all people involved in the implementation of the Sustainability Plan.

Moncler today has in place stock option plans as a long-term incentive.

Stock option plans enable incentives for managerial roles and key people in the Group to be tied to the effective performance of the Company. In this way people can be steered towards strategies for achieving medium/long-term targets and the interests of the beneficiaries of the plans are aligned with those of shareholders and investors, while developing policies to attract and retain talented professionals.

In particular the “Stock Option Plan 2014-2018 Italian Corporate Structures” is designed to reward employees at the Group’s Italian corporate offices for their contribution to the Group’s growth and success in recent years by tying overall remuneration, and in particular the employee incentive scheme, to the Company’s effective performance and to the creation of new value for Moncler.

Three stock option plans have been introduced since the Company’s listing on the stock exchange:
• “Stock Option Plan 2014-2018 Top Management and Key People”, for top management and key officers in the organisation;
• “Stock Option Plan 2014-2018 Italian Corporate Structures”, for employees at Italian corporate offices engaged on a permanent employment contract;
• “2015 Performance Stock Option Plan”, for key officers in the organisation.
Further information is provided in the Report on Remuneration, available in the Governance section at www.monclergroup.com.

COMPARISON BETWEEN ENTRY-LEVEL SALARY AND MINIMUM WAGE*

Minimum wage = 100

100
Italy
100
Romania
117
China
123
France
125
Germany
143
Korea
149
Japan
160
United Kingdom
166
Hong Kong
172
United States
100

*The figures refer to the Conuntries in witch around 91% of the company workforce is employed

PERFORMANCE ASSESSMENT AND SUCCESSION PLANS

Identifying the best talents and retaining them at length in the company is of crucial importance.
With a view to enhancing and developing people’s skills and potential, Moncler adopts a performance assessment system that measures the skills people use to achieve the objectives assigned to them. The system takes into account both leadership and technical skills, enabling a full-range assessment of the people, verification of the fulfilment of their role and potential training and development plans to be identified.

Moncler’s leadership model is underpinned by a series of values that everyone who works with the Company is expected to adopt and promote. They are integrity, passion, identification with company culture, the capacity to establish relationships built on trust, global vision, performance excellence, innovation and the nurturing of talent.

 

 

Technical know-how is instead associated with the professional population of reference.

The assessment system is aimed at improving business

performance by changing people’s behaviour. It has a medium/ long-term perspective and as such it is one of the key processes for managing and developing people, identifying succession plans and retaining the best talents in the Company, as it lies at the base of the salary review process.

The system involves an annual assessment of teams by the team leaders. The assessment is then reviewed and finalised by a committee of senior executives, in order to ensure discussion and the calibration of assessments to guarantee they are objective and fair.

The final step of the process involves a meeting between the senior officer and the employee to discuss the assessment, the areas for improvement identified and results achieved.
The retail segment uses an assessment tool adapted to the needs of that particular business, based on the same principles and mechanisms.

At present, the assessment process is applied to all organisational roles around the world, with the exception of white-collars in corporate offices and workers. The process will be extended to white-collars in corporate offices by 2017. In 2015 a total of 781 people were assessed (45.2%1 of the Group’s worldwide workforce, excluding workers – 39.4% were men, 60.6% were women).

DIVERSITY AND EQUAL OPPORTUNITIES

Moncler operates in an international and multicultural context. It cherishes diversity as an asset to be enhanced and as a competitive advantage for the company. Bringing together people with diverse competences, experience and socio-cultural backgrounds enables the Group to rise and meet the challenges of the market, in what has become an increasingly global and borderless playing field.

As stated in the Code of Ethics, respect for diversity and equal opportunity and the prevention of all types of discrimination represent key principles which Moncler is committed to guaranteeing throughout the employment relationship, from recruitment and the setting of remuneration packages to opportunities for career growth, through to the termination of the employment relationship.

Main benefit offered to employees Employees entitled to take up the benefit
Supplementary pension plans 100%
Company canteen or lunch vouchers 35%
Supplementary health plans 35%
Life insurance 13%
Participation in stock option plans 13%
Financial support for disability 6%
Fitness/sports centres1 6%
Other2 15%

1 Includes free admission to the gym, tness courses and other initiatives.

2 Includes bene ts such as a company car and accommodation.

BENEFIT

Remuneration packages offered to employees feature a wide range of benefits, from life insurance and pension plans to wellness options. Moncler offers employees benefits on the basis of their employee category and as such they are independent of the type of employment contract (permanent/temporary, full time/part time).

Benefits are provided according to guidelines applied internationally, with possible variations depending on local policy and the Country of reference.

The Group does not tolerate any form of discrimination

based on ethnic origin, skin colour, gender, sexual preference, religion, nationality, age, political leanings, trade union membership, marital status, physical or mental disability, or any other personal characteristic or condition.

In 2015 no instances were found or reports made of any episode of effective or presumed discrimination.
Moncler believes that diversity, in all its expressions, brings cultural wealth and openness and that diversity in the company is best expressed when each and every person is encouraged to fulfil their potential to the full.

Our awareness of the value of cultural diversity and the opportunities it brings is embodied in the trust that Moncler shows in its local management and personnel. As concerns gender differences, women make up the majority of Moncler’s workforce. Around 68.1% of all employees are women, a figure up by 44% compared to 2014, and the percentage is high in all the Group’s geographic regions. The proportion of women is high in all employee categories and at managerial level (manager, executive and senior executive) is 54%.

The breakdown of the gender division by type of employment contract, length of service, age range and education level does not produce findings worthy of note.

The Moncler Group is committed to equal pay for equal skills, capacities and career experience. It guarantees the principle of equal opportunity in both theory and practice and seeks to avoid the risk of discretion in its application.

For executives, senior executives and professionals, salary levels for men and women are substantially aligned; for managers, white-collars and workers a difference of between 6 and 10% has been found.

The Company is also committed to employing disabled people.
The Moncler Group manages diversity in accordance with the rules and practices contemplated by applicable laws in force and encourages company departments to employ people with disabilities.

All hires are assessed with due respect and consideration for the needs and capacities of the individual, with suitable work stations provided and work hours adapted as required. By doing so, people are protected and put in a position to give their best.

At December 31, 2015 employees with disabilities in Italy and Romania totalled 29. In forthcoming years, the Group is committed to taking on additional people with various levels of disability, also through its collaboration with institutional bodies tasked with helping the disabled find employment.

EMPLOYEES BY GENDER
31.9% - MEN
68.1% - WOMEN
RATIO OF WOMEN'S AND MEN'S SALARY LEVELS

men's slaries = 100

99
Executives and senior executives
91
Managers
97
Professionals
90
White-collars
94
Workers*
100

Since the vast majority of workers are women (83.6%) and are located in Romania, while the majority of male workers are located in Italy, the comparison of men’s and women’s salaries would be misleading. For this reason, the analysis was conducted only within the Romanian perimeter.

27.6%
Italy
34.4%
Asia and the Rest of the World