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RECRUITMENT

Moncler seeks to identify and attract the best talent, people who stand out not only for their strong technical, professional, and management skills, but also for their personal qualities, energy, flexibility, identification with Group values and, last but not least, their positive and effective interpersonal style and ability to adapt to an ever-changing environment.

Driven by the Group’s growth and geographical expansion, the recruitment process is increasingly focusing on people with an international profile and a broad and diverse cultural and educational background, as well as on expertise and experience suited to meet the Group’s future challenges.

The interest drawn by the Company and its appeal as an employer are reflected in the significant number of job applications it receives every year. Indeed, in 2018, about 15,000 résumés were submitted via the corporate website, in line with the trend in previous years.

The recruitment process follows the procedure set out in the Personnel Search and Recruitment Policy, also with the aim of enhancing equal opportunities and empowering internal resources.

In 2018, Internal Job Posting was also launched globally. Through the corporate intranet MONCamp, interested employees can apply for open positions that best match their profile, experience and aspirations.

The system contributes to spreading a culture of global mobility within the Group, and represents a fundamental lever of job rotation and development policies. In the initial start-up phase, approximately 7% of positions at Italian corporate offices were covered by Internal Job Posting.

 

 

Collaborations with academia

 

Moncler has long-standing relationships with the best training colleges, universities and business schools, and collaborating with them is of great importance to the Company. Joint initiatives include internships for students and new graduates, project development, participation in work groups, and visits to Company premises. Employer branding activities are a great opportunity to showcase the Company and its continual developments, increase its appeal, and reach out to a large number of talented people.

Every year, Moncler offers various internships to young people with high potential, giving them the opportunity to experience the Company and its business as they train. In 2018, about 71 internships were offered in Italy, ranging from alternating school-work programmes to curricular and extracurricular internships. With regard to curricular and extracurricular internships, 38% of those held in 2018

led to actual employment contracts.

In 2018, managers and personnel from the Pattern Making department continued their work with students on the Modelling and Tailoring master’s programme at the Istituto Secoli in Milan, supporting them in the various stages of developing a men’s collection, from sourcing materials and accessories up to the final fashion show.

Also in Milan, Moncler partnered with Università Cattolica del Sacro Cuore for its master’s in Luxury Goods Management (EMLUX). As part of this initiative, members of Moncler’s management hold courses on retail-related subjects, present business cases, and propose project activities.

Finally, in 2018, Moncler organised a series of meetings with students from partner schools, including workshops, business cases, and recruitment sessions, with programmes tailored to each school. The main institutions with which the Company collaborated were: the Glion Institute of Higher Education, Les Roches International School of Hotel Management, IESE Business School, HEC Business School, Aalto University School of Business, Cattolica University, Bocconi University, Ca’ Foscari University, the University of Padua, the Polytechnic of Milan, Istituto Secoli, the IED, Domus Academy, CUOA, Marangoni Institute and the Milano Fashion Institute.

TRAINING

Training plays a key role in the development of talent. It is an important tool for enhancing and strengthening individual skills while also disseminating the Company’s values and strategy, thus supporting cultural and organisational growth.

In 2018, a sum of over 712,000 euros was invested in training and over 96,000 hours of training (about 39% more than in 2017) were delivered to about 4,000 employees, of whom 72% were women.

Of the employees who participated in training activities (up 54% from 2017) 50% were white-collars, 30% workers, 11% professionals, 7% managers, and 2% executives and senior executives.

The average hours per capita amounted to 23 (up 18% from 2017). In particular, the average hours per capita for women were 26 while those for men were 17.

Training hours were provided through classroom activities in 91% of cases. Although e-learning still accounts for only 9% of the total, it has grown significantly compared to previous years, thus confirming the investment that the Company is making in training also in terms of diversifying learning methods and opportunities.

There was a greater variety of activities than in the past, with an increase in managerial training and the launch of language courses. In general, the number of hours dedicated to vocational training accounted for 65% of the total, while those on health and safety amounted to 29%.

In 2018, several training programmes were developed for the company’s people. The most significant was certainly MONCampus, a programme for young talents.

In line with the Company’s digital development, training is aimed at

experiences that blend the traditional classroom with new digital technologies, providing for effectiveness and practicality, as well as greater and faster dissemination. In fact, in 2018, some training initiatives were launched only in e-learning mode. Globally, courses on the new GDPR-General Data Protection Regulation and Cyber Security were provided to all employees, as well as a series of product-specific courses. For employees in Italy, an online course on the Organisation, Management and Control Model was also provided, with a specific focus on anti-corruption, and one on the Code of Ethics, specifically designed to understand and share Moncler’s principles and guiding values and including human rights aspects, which will be extended to all employees worldwide in 2019.

Moncler also further consolidated its partnership with the Italian association Valore D, giving some employees at its corporate offices in Italy the opportunity to participate in a number of in-house courses and workshops. These courses were designed to promote organisational models and develop a corporate culture of collaboration and dialogue between different generations, genders, and cultures, as well as to facilitate the use of innovative and flexible tools devised to increase the wellbeing and motivation of the staff involved.

Throughout the year, Moncler continued to offer training programmes at both the corporate offices in Italy and the production site in Romania. These were mainly devised to strengthen and spread a culture of personal health and safety, raise awareness of risks in the workplace while providing information on risk identification and management, and encourage responsible behaviour among

all employees. The Company provided approximately 28,000 hours of training on health and safety.

In 2018 a Pattern Making School was created at the production site in Romania, with the aim of enhancing the skills of the Company’s staff and thus strengthening some departments, such as pattern making, CAD, development and placement, all activities that have been outsourced so far. The school will yield clear benefits in economic and time-to-market terms, as well as in terms of staff loyalty and employment opportunities. In 2018, 10 Romanian students, hired in March, attended a training programme that included both a practical course in pattern making on paper and prototyping and a software course.

At retail level, instead, Moncler continued to invest in a number of initiatives aimed at boosting the professionalism of sales personnel, particularly through the Retail Excellence project. Training programmes covered multiple topics, ranging from technical product knowledge (of both raw materials and the production processes for footwear, handbags, and sunglasses), to understanding the Brand and its history, to the development of interpersonal and managerial skills, with a view to promoting a service model and sales style that make the shopping experience unique and distinctive.

TRAINING INVESTMENTS
TYPE OF TRAINING
REMUNERATION

Moncler’s remuneration system is designed to attract, motivate, and retain people with the professional skills required to grow the Company’s business. It is based on the principles of fairness, equal opportunities, meritocracy and competitiveness on the market.

As a listed company, Moncler’s Remuneration Policy for Group directors and strategic executives is in line with the recommendations set forth in the Corporate Governance Code for Italian Listed Companies issued by Borsa Italiana. The Policy was defined with contributions from the Human Resources Department, Nomination and Remuneration Committee, Board of Directors, and Group’s shareholders at the Annual Shareholders’ Meeting (see the 2018 Report on Remuneration, available in the Governance section at www.monclergroup.com).

Remuneration for Company employees takes into consideration specific criteria, including market standards, internal fairness, characteristics of roles and responsibilities, and individual expertise, with every effort made to ensure the highest levels of objectivity to prevent any form of bias or discrimination.
For several years now, Moncler has implemented an annual salary review process based on two principles: performance and talent. Based on annual assessments and business results, as well as potential shown, managers can propose salary raises for their employees. These raises are then discussed in steering committees. The approved proposals take into account individual merit, added value produced for the Company, fairness and competitiveness in relation to the market.

In every country in which it operates, Moncler offers entry-level salaries equal to or above the minimum wage provided for by law or collective bargaining

agreements, with no substantial difference between genders, as confirmed by the findings of an analysis conducted in 2018 on the entire Group workforce, including the production site in Romania.

The salary structure of 94% of professionals, managers, executives, and senior executives includes both fixed and variable components, balanced on the basis of the Company’s strategic objectives. The variable component may be short-term (Management By Objectives for shop managers and corporate employees, sales commissions for retail personnel, and performance bonuses for people employed at the corporate office in Trebaseleghe, Padua) or long-term (Stock Option and Performance Share plans).

The Management By Objectives (MBO) system focuses mainly on quantitative targets related to overall Company performance (including EBITDA) and to specific functions and roles. These quantitative targets are mainly economic and financial in nature, whereas the qualitative targets relate to strategic and operational activities and projects.
As an incentive to achieve outstanding results, there are mechanisms in place to reward over-performance, with higher bonuses offered when performance targets are exceeded by a certain threshold.

Within the MBO system, social and environmental targets related to the fulfilment of the Sustainability Plan are set for everyone involved in the implementation of the Plan itself. Likewise, responsible sourcing objectives are assigned to key roles in the Company. All members of the Strategic Committee, including the Chairman, also have a percentage of their MBO linked to the achievement of strategic sustainability objectives for the Company.

Finally, to empower managers in

improvement activities related to the results of the people satisfaction survey, MONVoice, the MBOs set for 2019 will include an indicator to evaluate the improvement of the result in certain areas of the survey, considered particularly relevant for the Company, such as, employee engagement and development opportunities.

With regard to long-term incentive programmes, Moncler offers Performance Share plans. These plans enable: linking the incentives for Group managers and key figures to the actual performance company; steering resources towards strategies that focus on medium and long-term targets; aligning the interests of beneficiaries with those of shareholders and investors; and developing policies to attract and retain talented professionals.
Three stock option plans and two performance share plans have been introduced since the Company’s listing on the stock exchange in 2013:

 

Stock Option Plan 2014-2018 Top Management and Key People, for senior management and key officers in the organisation;
Stock Option Plan 2014-2018 Italian Corporate Structures, for all employees at Italian corporate offices with a permanent employment contract;
2015 Performance Stock Option Plan, for key officers in the organisation;
Performance Share 2016-2018, for senior management and key officers in the organisation;
Performance Share 2018-2020, for senior management and key officers in the organisation.

 

See also the 2018 Report on Remuneration, available in the Governance section at www.monclergroup.com.

BENEFITS

Remuneration packages offered to employees feature a wide range of benefits, from life insurance and pension plans to prevention programmes aimed at improving the wellbeing of people. Moncler offers employee benefits based on their professional category, irrespective of type of employment contract (permanent/temporary, full-time/part-time). Benefits are provided according to international guidelines, with possible variations depending on country-specific policies.

In Italy, the Moncler Corporate Welfare Plan was continued. It is aimed at all staff, including managers, working at Italian corporate offices under a permanent contract or apprenticeship contract effective at 31 December each year. This two-year initiative, devised to

ensure greater care and attention to the wellbeing of Moncler’s true strategic asset, namely its people, provides for a wide range of benefits and services, some of which are also offered to employees’ families, including the reimbursement of school expenses, vouchers, leisure and sports activities, and wellness packages, as well as co-pay arrangements for supplementary pension funds.

Since May 2018, Moncler has been a member of Sanimoda, a supplementary healthcare fund for workers in the fashion industry in Italy, which provides healthcare services complementary to those of the Italian national health service. In 2018, a total of 563 employees registered with the fund.

During the year, the Company’s welfare initiatives included nurseries for the children of employees at the corporate office in Trebaseleghe, Padua, the cost of which was covered entirely by the Company. The chosen schools offer the opportunity to enrol up to 27 children of Moncler employees. Moreover, by 2020, Moncler has committed itself to creating a nursery school for the children of employees at the production site in Romania, which can accommodate up to 60 children.

Finally, a welfare plan has been established for UK employees, providing access to a range of value-enhancing goods and services, including childcare, computer purchasing, legal advice and health and wellness packages.

MAIN BENEFITS OFFERED TO EMPLOYEES
DEVELOPMENT

Identifying and retaining the best talent is of crucial importance to the Company. In order to enhance and develop that talent, for some years now, Moncler has adopted the PIUMA Leadership Model, a performance assessment system that measures the skills people use to achieve their set targets. Based on a solid methodology, it measures performance by assessing the level of knowledge, problem solving and impact on the business, then comparing it with the standard expected for the specific role. This helps verify how well employees fit into their role, while identifying potential training and development plans.

The assessment is underpinned by a series of values that everyone in the Company is expected to adopt and promote: integrity, passion, identification with the Company’s culture, the ability to establish relationships built on trust, global vision, performance excellence, innovation, and talent development.

Conceived to improve business performance, the assessment system has a medium/long-term perspective, and is thus one of the key processes for managing and developing people, identifying succession plans, and retaining the best talent within the Company. As such, it is the basis of the salary review process.

The assessment process requires managers to appraise their respective teams annually, using a digital platform developed in 2017. Assessments are then reviewed and finalised by a committee of senior executives, who compare and calibrate them to ensure objectivity and fairness. The final step of the process involves an open discussion on the assessment between manager and employee, addressing the results achieved and the areas identified for improvement.

The assessment process applies to all organisational roles worldwide. The process has not yet been extended to the production site in Romania.
In 2018, 2,200 employees were assessed, 40% more than the year before, accounting for 95%(9) of the eligible workforce.

A major innovation in 2018 was the introduction of the self-assessment module in the performance assessment process, to enable employees to compare their perception of their performance with the Company’s, thus making the sharing phase between manager and employee more productive. In Italy, 747 people from the corporate offices carried out the self-assessment for the first time.

In 2018, the PIUMA Leadership Model for the retail channel was also redesigned. The model is based on the same principles applied to the corporate model, adapting the language to the retail world. Again, the process will include a self-assessment module.

During 2019, the entire population, both corporate and retail, will therefore be assessed and will be able to assess themselves based on a single model applied in two different ways.

As regards the production site in Romania, the Company will develop an ad hoc model during 2019 to allow the extension of the assessment process, in a manner consistent with the needs of a population so significant in terms of numbers and specific characteristics.
Moncler firmly believes that a skilled and competent workforce can enhance the value of its human capital and contribute to increasing employee satisfaction, thus improving the Company’s overall performance. As part of this effort, the Group promotes specific employee development programmes tailored to the needs of the Regions, the various corporate functions, and distribution channels.

EMPLOYEE ENGAGEMENT

Moncler sees employee dialogue and engagement as key to fostering the motivation and satisfaction of its people, thus creating strong long-term relationships. To this end, the Internal Communication & Engagement department, within the Human Resources function, is tasked with developing tailored strategies, actions, and tools to engage personnel while spreading the company culture.
Use of the corporate intranet site MONCamp, launched at the end of 2016, has been consolidated over the years as a tool to share information and news and enhance networking among colleagues. The MONCamp news section is based on a specific editorial plan, and features news about products, events, and people, as well as interviews with employees from different functions and organisational levels, thus enhancing knowledge, sharing, and the sense of belonging to the world of Moncler. Consolidated and enhanced from a ‘social’ perspective, the platform has become a crucial element of communication among employees, particularly those in retail, who use it to share sales experiences, ideas, and local events.
The year 2017 was when MONVoice, the first people satisfaction survey, was launched. It aimed to offer a snapshot of employee climate, particularly of how personnel perceive the Company in terms of two aspects: employee engagement and employee enablement. By analysing the individual elements of each of these aspects, Moncler was able to identify both its strengths and areas to be addressed to improve its overall positioning. The analysis highlighted a number of clear areas of excellence, including “pride in being a part of Moncler” and “quality and attention to clients.” One of the main suggestions received through the survey was

“collaboration and communication between departments.”
The Company’s objective was to set in motion a process of improvement for people starting from themselves. In 2018, a global action plan was therefore developed, providing for the creation of 32 functional and cross-functional work teams, each led by a coordinator identified from among the team. The 32 MONVoice Coordinators were directly involved in leading and managing their team. They organised their activities, provided feedback to managers and acted as a vehicle for the Company’s responses. Throughout the year 2018, the teams worked on examining and presenting proposals for improvement, resulting in 240 actions and projects being proposed.

The best projects to address the company’s needs, shared at Strategic Committee level, were implemented in part at global level already during the year. Other actions, on the other hand, have been carried out and implemented at the level of each Region, function or department, in an ideal virtuous circle of continuous improvement.

In December 2018, the second edition of MONVoice was launched, involving 2,425 people worldwide with a questionnaire of 45 closed questions plus an open one. The analysis confirmed the areas of excellence that emerged from the 2017 edition and highlighted a new strength: “Confidence in one’s own manager.” One of the main suggestions received through the survey continues to be “collaboration and communication between departments”.

Mocler believes that employee opinion surveys are useful not only to have a clear picture of employee satisfaction levels, but also to identify corrective measures to meet the expectations and needs of the entire organisation.

Steadfast in its belief that company volunteering is not only an instrument of social responsibility, but also a means of creating a culture that is attentive to diversity and solidarity, at the end of 2018 Moncler presented an articulated volunteering plan to the Italian employees of the corporate offices. The plan, which will start in Italy in 2019 and then spread to other Regions, involves collaboration with six non-profit organisations, in volunteer activities ranging from the environment to children. Each employee of the corporate offices can take advantage of two days a year to devote to the proposed volunteer activities and will also have the opportunity to choose from different organisations, different types of activities and different days.

In 2018, the South Korean team participated in the International Coastal Cleanup Day event, dedicated to coastal cleaning. The team under the motto “Our Ocean, One Future – Moncler, We Care” volunteered to clean Yeongjong Island, off Incheon, South Korea, for a full working day. Before starting the volunteer activity, an orientation and awareness session was organised on the seriousness of pollution, plastic and suffering of marine animals, which raised everyone’s awareness of the importance of reducing disposable products.

In addition, 15 Italian MONVoice Coordinators were involved in a day of volunteer work in Pieve Torina, a municipality in the Marche region that was 90% devastated by the 2016 earthquake. The occasion was the inauguration of a new nursery school, built with funding also from Moncler, during which volunteer employees entertained children with games and fairy tales on the theme of “Mountains and Bears.”

NOTES

6 Includes the Moncler Corporate Welfare Plan, as well as kindergartens and other childcare services.

7 Includes benefits such as a Company car, transport allowance and accommodation.

8 Includes free admission to gyms, fitness courses, and other initiatives.

9 Percentage calculated on the total workforce with permanent contract at 2017, which served as the benchmark for the 2018 assessment process.

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