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The recruitment and selection process, along with the evaluation and employees engagement, are of great importance to the Moncler Group, aware of the importance of people’s contribution to the creation of long-term value.
The current constantly changing and evolving scenario requires new skills, professionalism and flexibility. The Group’s ambition is to foster an international working environment; an ongoing exchange of ideas, knowledge and experience as important factors to ensure creativity and innovation; people’s empowerment, engaging and motivating them to express their full potential and providing them with opportunities for personal and professional growth to support the achievement of the Group’s strategic objectives.
Selection and hiring processes therefore play a key
role in implementing recruitment campaigns based on objectivity, competence and professionalism, while also conveying the value of equal opportunity ensuring, whenever possible, gender representation as well as the inclusion of all other forms of diversity within the panel of candidates, so as to ensure a fair and impartial selection process.
Recruitment and selection processes are governed by a specific policy and procedures developed at global and local level. In 2022, this policy was updated to strengthen the Group’s commitment to implement processes that are transparent, inclusive, and careful, to ensure the retention and development of personnel. The Internal Job Posting is also part of this process. Through the dedicated area on the company intranet, all employees can
apply for open positions that best align with their profile, level of experience and aspirations ten days before they are placed on external recruitment channels. In 2022, at Moncler the positions filled via the Internal Job Posting accounted for 15% at global level, in particular they accounted for about 20% in Europe, 24% in America and 22% in Asia. At Stone Island seven employees benefited from the Internal Job Posting in 2022.
The Group’s attractiveness has been confirmed by the significant number of applications received also in 2022. During the year more than 30,000 curricula (+17% compared to 2021) were submitted via the corporate website, in line with the trend of previous years.
Of particular importance are the collaborations with leading professional schools, universities and business schools, with which Moncler has longstanding relationships, including internship programmes for students and new graduates, project development, participation in working groups and visits to corporate sites. Employer branding activities are an excellent opportunity to raise awareness on the Company’s ongoing evolution, increase its attractiveness and reach out to a large number of talented individuals. To ensure access to the most diverse talent pool possible, the company has identified a group of universities known for their ability to attract students from diverse backgrounds.
Each year, Moncler and Stone Island offer various internship opportunities, giving high-potential young people the chance to learn about the business and participate in a training experience. In 2022, over 210 internships, both curricular and extra-curricular, were offered at the Group. In particular, young interns from 12 different countries were hosted at Moncler’s Italian corporate offices in 2022. With regard to these two latter categories, 34% of internships that took place in 2022 led to employment contracts.
During 2022, Moncler continued to organise meetings with students from partner schools via digital channels and, only where possible, through physical meetings.
Workshops, business cases and recruitment sessions were designed for these occasions, based on ad hoc programmes designed for each school.
The main schools Moncler partnered with in 2022 were: Cattolica University of Milan, Bocconi University of Milan, Ca’ Foscari University of Venice, University of Padua, Politecnico of Milan, Istituto Secoli and IED of Milan, Domus Academy of Milan, Istituto Marangoni and NABA of Milan, Milan Fashion Institute, Luiss of Rome, London Business School and H-FARM, a digital platform that helps young people launch innovative initiatives and supports companies in the digital transformation.
Training plays a key role in the process of people’s development and enhancement. It is a fundamental tool for increasing and consolidating individual skills, for fostering constant upskilling of key knowledge needed to support the continuous evolutions of the business, and, lastly, for spreading the Group’s values and strategy, supporting its growth as well as cultural and organisational development. The processes are based on the professional growth of all people, to enable all employees to reach their full potential through opportunities based exclusively on skills, experience and potential.
In 2022 more than 1,708,000 euros were invested in training and 170,843 hours of training were delivered (+44% hours compared to 2021) to the benefit of more than 5,400 employees. In-person courses resumed during the year (+51% in-person hours vs 2021) following the reduction of restrictions related to the pandemic, the greater involvement of employees of the Moncler retail channel through the new corporate e-learning platform MINE and the continuous updating of digital contents in the MAKE platform, existing since 2020 and extended to the entire Stone Island population. Among the employees involved in training, white-collars made up 51.2%, followed by workers (25.4%), professionals (11.7%), managers (9.9%) and executives and senior executives (1.8%). Average hours per capita were 27 (around 33 for women and 14 for men).
In 2022 the largest investment related to technical and professional training, which represents 79% of the courses delivered both to the sales force and to employees at corporate sites. In addition, a high level of commitment in the health and safety training was maintained, accounting for 16% of hours delivered.
Mandatory training remains an important element of the training area. In Italy, all the Group’s employees are trained on the Legislative Decree 231 Model. A major module focuses on the Code of Ethics to understand and share the Company’s guiding principles and values with a focus on human rights. Globally, General Data Protection Regulation (GDPR) e-learning courses continued.
During the year the Moncler Group also continued, both at the Italian corporate sites and at the production site in Romania, to promote training programmes aimed at strengthening the culture of personal health and safety, create awareness of risks in the workplace and provide information necessary for their proper identification and management.
With regard to the legally-required courses on Legislative Decree 81/2008 on Health and Safety, among the others, during the year 27,238 hours were delivered. In particular, 166 accounts were activated for the general training, and 24 new Fire Fighting team members as well as 33 new First Aid team members were trained at corporate sites.
More than 2,353 hours of human rights training were delivered in 2022. In particular, the Unconscious Bias training course, which aims to promote an informed, inclusive organisation, was extended to the entire Group population through e-learning and delivered through workshops to 745 managers worldwide for a total of 1,155 hours of training.
In the Americas Region and in Japan, e-learning modules on workplace harassment were delivered.
In the context of the efforts to promote diversity, the programme on cultural awareness continued.
The aim of the programme is to foster respect for cultural diversity and offer guidance regarding the most appropriate and effective behaviour and communication methods to be adopted with colleagues, partners, clients and individuals from different cultures. After the first session on Chinese culture launched at the end of 2019 for employees at corporate sites in Italy, digital sessions on American, Korean and Japanese culture were provided in 2020 for the benefit of the entire company population. In 2021, the various modules were extended to the people of Stone Island and the session on Italian culture was designed; this latter was delivered in 2022 at global level, along with a new session on Chinese culture.
All these courses are accessible through MAKE, Moncler Academy for Knowledge and Excellence.
Moncler also continued its partnership with the Italian association Valore D, providing opportunities for some employees at the corporate sites in Italy to attend inter-company courses and workshops aimed at promoting organisational models and develop a corporate culture that supports collaboration and dialogue between different generations, genders and cultures, while also facilitating the use of innovative, flexible tools to increase the degree of well-being and motivation of the employees involved. In 2022 Moncler employees were involved in training on various subjects, such as the development of the entrepreneurial spirit of young people, awareness of their role in the company, the importance of effective communication and the development of managerial skills.
The Learning & People Development team has annually meetings with Directors in order to prepare training plan customized on long-term employment needs and skill requirements.
The Moncler Group’s remuneration system is designed to attract, motivate and retain people with the professional skills required by the perspective of business growth. It is based on principles of transparency, equity and equal opportunity and on criteria such as individual merit, abilities, skills and performance, while also taking into account the organisational role performed and the responsibilities assigned, in addition to comparison with the external market. This is the context for the Group’ commitment to obtain the equal pay certification by 2025.
As a listed company, the Remuneration Policy for Group directors and strategic managers is set in accordance with the recommendations of the Corporate Governance Code, with the involvement of the People & Organisation function, the Nomination and Remuneration Committee, the Board of Directors and the Ordinary Shareholders’ Meeting (see the Remuneration Report www.monclergroup.com, “Governance” section).
In the countries in which it operates, the Group offers, without differences between men and women, entry level salaries equal to or above the minimum required by law or collective bargaining, as confirmed by the analysis carried out annually on the entire corporate population, including the production site in Romania. Moreover, the Group values the results achieved by personnel also through the annual salary review. This process is based on individual merit, contribution to the creation of value for the Group, internal equity and competitiveness in relation to the market.
In addition, the Group has a Global Mobility Policy, which sets out the guidelines at a global level to ensure that employees working abroad receive fair, competitive, incentivising and consistent economic treatment. This Policy is a fundamental tool for regulating international mobility, a pillar of individual development and business success.
More than 80% of the eligible population of professionals, managers, executives and senior executives has a remuneration structure made up
of a fixed and a variable component appropriately balanced according to their contributions to the company’s strategic objectives.
The variable component may be short-term (Management By Objectives) for the store managers and corporate population; a sales commission for retail staff, at both team and individual level; or long-term (Long Term Incentive). For the Italian corporate sites population, up to the managers category, a bonus linked to corporate performance indicators has been defined.
The Management By Objective (MBO) system is based on annual objectives, mainly quantitative, relating to financial performance achieved by the Group (primarily Group consolidated EBIT) and qualitative objectives of significant strategic and operational importance, including those linked to the achievement of the objectives of the Strategic Sustainability Plan. The system, which applies to executives, managers and professionals for corporate sites employees and to the store management team, is intended to encourage the achievement of distinctive results through mechanisms that reward over-performance by increasing the value of the bonus that can be awarded, over a certain threshold, where the assigned objectives are exceeded.
In the MBO system, for all those involved in the implementation of the Sustainability Plan are assigned social or environmental objectives as well as internal population engagement objectives. All members of the Strategic Committee, including the Chairman and the Chief Executive Officer7, have a percentage of their MBO linked to the achievement of the Group’s strategic sustainability objectives and a target relating to the DE&I topic. Moreover, all managers involved in achieving the targets defined within the Group’s Sustainability Plan have their MBO linked to the fulfilment of results useful for attaining those targets. Particular attention is given to the targets set by the Group to combat climate change and reduce its impacts in this area.
In fact, all managers involved in these targets have their MBO directly linked to these goals.
Lastly, the MBO system provides for alignment between performance objectives and the management of the risks identified by ERM to spread a culture of risk assessment and management in the employees decision-making process. This incentive system, therefore, consists of several components: for each employee, the manager and head of function are required to set both individual and team-based targets.
As a long-term incentive system, the Moncler Group currently uses Performance Share plans for key positions within the management population. These systems allow the incentive process for managers and key resources of the Group to be linked to actual company’s results, steer people towards strategies aimed at pursuing sustainable medium-/long-term results, align the interests of beneficiaries with those of shareholders and investors and develop policies aimed at attracting and retaining talented professionals.
Starting from the 2020 Performance Share Plan, an ESG Performance Indicator focused on carbon neutrality was introduced for all corporate sites (offices, stores, logistics hub, production sites), on the reduction of single-use virgin plastic and on the recycling of nylon production scraps, and which, as an over-performance criterion, takes into account the Group’s inclusion in the Dow Jones Sustainability World or Europe indices over the three-year period 2020, 2021 and 2022. In 2022 the ESG indicator was achieved at the maximum percentage.
Lastly, store employees are provided with incentive systems based on individual and store performance that reward excellence and service quality, along with the contribution to business development.
See also the 2022 Remuneration Report, published in the “Governance” section of the corporate website.
The remuneration package offered to employees includes a wide range of benefits, ranging from life insurance to pension schemes and prevention programmes aimed at improving individuals’ well-being. The benefits offered by the Group to its employees are linked to the professional category to which they belong, regardless the type of contract (fixed/permanent; full time/part time) and follow guidelines applied internationally, with possible changes depending on the local policy of the country of reference.
To develop remuneration policies that not only reward work performance, but also respond in a timely manner to the non-financial needs of its people, Moncler has developed corporate welfare plans, currently in Italy, the United Kingdom and South Korea, to ensure greater care and attention to the well-being of people, who have always been Moncler’s true strategic asset. In particular, for all Italian employees, these plans apply to categories up to the managers of the corporate sites employed under permanent or apprenticeship contracts, in force at 31 December of each year and provide a wide range of benefits and services, also offered in part to the employee’s family,
from reimbursement of school expenses to vouchers, from leisure solutions to wellness packages.
In Italy a portion of the welfare credit can also be paid supplementary pension funds, and the Welfare Plan identifies an “access” condition linked to the Group’s profitability.
During the year, in the context of the corporate welfare system, employees at the corporate sites in Trebaseleghe (Padua) who took advantage of the kindergarten and nursery school received a full contribution from the Company: the selected schools welcomed up to 30 children of Moncler employees. In addition, in 2022 the nursery for the children of employees at the production site in Romania was also finalised.
In 2022 the Moncler Group decided to award a one-time extraordinary bonus to employees as a sign of care and support in the face of high inflation levels.
Lastly, Moncler and Stone Island adhere to Sanimoda, the supplementary health care fund for workers in the Italian fashion industry, which provides health care services supplementary to those of Italian’s National Health System.
During the year 1,106 Italian employees signed up with the Fund.
In addition, In the first months of 2023, the Group launched CAREPLACE. CAREPLACE is the new portal dedicated to employee wellbeing; with real support to ease the balance between work and personal life. The portal includes three areas: family care, lifestyle, and pet care. within each area, employees can find different modes of services available: on demand services, online group meetings and experts. A specific area related to “mind care” is available, dedicated to those employees who are going through a change, or who are facing a new beginning, experience anxiety or stress, or want to get to know themselves better. Thanks to this program they can rely on a team of psychologists all registered, specialized, and constantly trained. Together with them, they can receive qualified support. In addition, employees can take part in specific mindfulness sessions and art meditation programs. Another area of the portal is dedicated to the “LIFESTYLE” where employees can join fitness classes taking part in free online fitness programs with qualified fitness instructors or participate in group meetings with different professionals in order to Interact, share experiences, and ask questions on the importance of sports.
In 2022 Moncler’s attention on attract, identify and invest in talented young people with a strategic view to develop the next generation of business leaders led to the establishment of numerous partnerships with major Italian and international universities and business schools, as well as with professional and academic institutions.
The partnership with the Cattolica University of Milan continued for the master’s degree in Luxury Goods Management (EMLUX). Also in 2022 Moncler made part of the Group’s management available to teach the omnichannel and digital module of the master’s degree and proposed business case and project activities. In particular, the activity carried out in 2022 involved a class of students of various nationalities, with the aim of developing a project on digital communications strategy for a new product category, to be presented directly to Moncler’s management. Following this project, six students were selected for an internship giving them the opportunity to continue their experience within the Group.
Together with the Ca’ Foscari University of Venice, a Meet Up event was organised at the Moncler corporate site in Trebaseleghe (Padua). A selected group of students had the opportunity to get to know several corporate teams, including Finance & Controlling, IT and Sales Administration. Each team presented their activities and skills, providing visibility on their professions with the aim of supporting career orientation. Among the
35 students who participated in the event, nine were involved in internships at the company.
Alongside the research group at LUISS University, Moncler participated in a project in collaboration with Meta to explore the impact of applying the metaverse in collaborative and active learning contexts. The experiment was also useful for providing insights linked to Gen Z’s consumer behaviour in the use of the metaverse in the fashion industry.
The longstanding partnership with the Bocconi University of Milan continued, particularly within the master’s degree programme in Science in Management – Major in Fashion & Luxury. Master’s degree students were asked to perform a merchandising analysis relating to the positioning of certain product categories in the fashion industry. The groups that provided the most comprehensive and innovative response presented their work to a jury composed of representatives of Moncler’s management.
In addition, together with Bocconi University of Milan lectures were given by the Group’s management both during the Summer School (a programme hosting students aged 17 to 19 from 15 different countries) and in Memit – the Master’s degree programme in Economics and Management of Transport, Infrastructure and the Supply Chain.
Also in 2022 it continued the collaboration with the Ca’ Foscari University of Venice and H-Farm as part of the undergraduate Digital Management
programme. This collaboration led to courses being offered to students to help them experience daily business life.
In Korea, partnerships with Woosong College and Jangan University continued, and internships for six students were activated. In addition, in 2022 the MONCareer programme was launched, involving students from the Sookmyoung Women’s University in a four-month internship.
In Japan, the collaboration with major universities and business schools was strenghtened, including with the Kwansei Gakuin University and the Rikkyo University in Tokyo. Collaboration mainly concerned activities in fashion retail courses and were aimed at launching an internship programme at the main Moncler boutiques. In 2022, 20 internships were activated at the Aoyama boutique and Ginza flagship store.
In Europe, the activity launched in 2021 with the Paris Institut Français de la Mode continued. It involved 14 students in the Printed Brand Magazine aimed at creating content for a Moncler magazine under the guidance of the PR & Communication team. In collaboration with the Glion Institute of Higher Education, the Les Roches International School of Hotel Management and the Ecole Hotelière de Lausanne, digital career days were organised with the aim of identifying new resources to be included at the Moncler Ski Resorts.
MAKEPlatform is the platform accessible to all employees, where people can find not only training contents, e-learning courses, articles and webinars, but also interact with their global community at all times. On the MAKEPlatform, new courses have been launched and the already-existing ones have been enriched with a specific editorial plan to provide contents that are always new and consistent, focused on training paths
linked to four main pillars: Remote Working, Management, Leadership and Personal Effectiveness. A language training portal was also added, allowing to choose from seven languages to learn (English, French, German, Italian, Spanish, Portuguese and Chinese) through grammar exercises, listening, vocabulary and the participation in virtual classrooms to improve conversation-related aspects.
In 2022 MINE, a new platform created as a tool for sharing information and facilitating networking between colleagues, was launched. It is an app that updates all employees on Company initiatives and news through training activities, news and games. Through MINE, employees can connect with all the colleagues worldwide and share their experiences at the company. The objective is to extend the platform to Stone Island employees.
MAKE, Moncler Academy for Knowledge and Excellence, is a learning ecosystem for personal development of Moncler and Stone Island people in terms of knowledge and skills, but also of mental approach, working methods and organisational awareness.
Starting from the needs of the business, the MAKE architecture was designed to build a learning culture in which people are, with the sponsorship of their supervisors, aware of their own growth and able to identify their own needs, while also developing the ability to learn from daily work.
The philosophy underlying MAKE training plans are tailored on the basis of the professional family and in support of the development of knowledge and skills of people at all stages of their professional careers.
In 2022, various programmes have been delivered through MAKE:
The MONCampus Talent Programme is a development programme dedicated to high-potential Group’s people. It is a knowledge-sharing journey, designed to facilitate and accelerate the personal and professional growth of talented young people at Moncler and Stone Island. The one-year programme aims to provide a comprehensive vision of the Group and its operations, increase the knowledge of the technical aspects relating to each function and develop managerial and project skills through an interactive and experiential method.
The second edition of MONCampus ended in July 2022. The 30 participants were asked to develop various projects with the support of internal tutors with the aim of acquiring tools and knowledge related to the project themselves. In October, another 24 participants were involved
in the launch of the third edition of MONCampus.
The Building Leadership Training Programme is a training programme of more than 740 hours for the development and enhancement of leadership skills within the organisation. In 2022 the initiative involved 42 employees from corporate sites with diverse skills and backgrounds and was divided into six workshops focusing on topics such as leadership, importance of feedback, ability to delegate, stress management, conflict management and effective communication. Participants were also invited to understand and reflect on inclusive leadership by deepening the topic of diversity and inclusion within the company. An individual coaching programme was also offered to participants in order to reinforce the ability to apply the concepts learned. In 2022 the programme was extended to 13 employees in the EMEA Region.
Lead Accelerator is a programme for executives and senior managers designed in 2021 and delivered in 2022. It supports participants in developing the ability to operate in complex environments, with a visible impact on a broad organisational scope. The 14 participants involved in 2022 took part in various thought-provoking activities and experiences aimed at placing them in new situations that required to act on their habits and mental patterns to gain new skills and a new vision of themselves and their role within the Group. The aim was to improve cross-functional leadership and become agents of change within the organisation.
To ensure that areas of training are firmly tied to
business needs, top management plays a key role in identifying training needs and identifying Makers, i.e. internal Subject Matter Experts who can spread knowledge and best practices on specific topics. During the year, the Makers Lab involved 14 internal experts, the Makers, who shared their knowledge on specific activities, processes and tools with their colleagues. This programme was consolidated in 2022, with 35 training sessions for a total of over 741 hours. In 2022 the Makers Lab was extended to include employees in other countries where the Group operates.
Moncler Academy for Technical Excellence (MATE) and Stone Island Atelier Project
MATE is a specialist training course, launched at the beginning of 2022, dedicated to the recent graduates of technical and professional schools. MATE aims to train professionals to operate in the production of samples, prototyping and quality control, with a complete vision of the process of creation of a down jacket. The art of the outerwear is the focus of the training programme: from the strict quality and sustainability requirements for the raw materials to the final control of the finished product, to the know-how relating to manufacturing and the down-filling techniques. In 2022 the programme involved 24 young people. The same programme, renamed Stone Island Atelier Project, has been launched for Stone Island.
The Pattern Making School was set up in 2018 at the production site in Romania, with the aim of increasing skills among Moncler’s personnel and thus strengthening certain departments such as modelling, CAD, development and placements through the training and recruitment of local students.
6 Refers to all employees, including those who left the Group during the year who benefited from at least one training course in 2022.
7 The ratio between the total remuneration received by the Chairman and Chief Executive Officer (including the fair value of the medium-/long-term incentive component) for 2022 to the overall median remuneration (including fixed and variable components) of Group employees is equal to 216:1.
8 Including in addition to the Moncler Corporate Welfare Plan, also the kindergarten and other child services.
9 Includes benefits such as company car, transport or accomodation allowances.
10 Includes free access to the gym, fitness classes and other initiatives.
11 The percentage was calculated on the 2022 workforce employed under permanent contract, the database on which the 2022 assessment process was implemented.