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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 geographic 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 2017, about 15,000 resumes were submitted via the corporate website.
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.
Furthermore, an internal Job Posting system is in place enabling employees to apply for positions better suited to their profiles.
The system contributes to spreading a culture of global mobility within the Group, and represents a new pillar of job rotation and development policies.
COLLABORATIONS WITH ACADEMIA
Collaborating with the best vocational institutes, universities, and business schools – with which Moncler has long-standing relationships – is also of great importance to the Company. Initiatives range from internships for students and new graduates, to the development of projects, participation in work groups, and visits to Company premises. Employer branding activities are a great opportunity to showcase the Company and its recent 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 2017, about 120 internships were offered in Italy, ranging from alternating school-work programmes to curricular and extracurricular internships. With regard to curricular and extracurricular internships, 20% of those concluded in 2017 led to actual employment contracts.
In 2017, managers and personnel from the Pattern Making department continued their work with students attending the Modelling and Tailoring Master’s programme of the Istituto Secoli of Milan (Italy), supporting them in the various stages involved in the development of a men’s collection, from the sourcing of materials and accessories through to the final fashion show.
Still in Milan, Moncler also partnered with the Università Cattolica del Sacro Cuore within the framework of the university’s 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 work.
Finally, in 2017, Moncler organised a series of meetings with students from partnering schools, including workshops, business cases, and recruitment sessions, with programmes tailored to each school. The Company boasts collaborations with prestigious institutions, including the IESE Business School, Glion Institute of Higher Education, Les Roches International School of Hotel Management, Università Cattolica, Stanford University, Università Bocconi, Politecnico di Milano, Istituto Secoli, and the Milano Fashion Institute.
Training plays a key role in the development of talent. It is an important tool for enhancing and strengthening individual skills while also while also disseminating the Company’s values and strategy, thus supporting cultural and organisational growth.
In 2017, a total of around 733,000 euros was invested in training (+30% compared to 2016), with over 69,000 hours of training (about 52% more than in 2016) delivered to over 2,600 employees, of whom 74% were women.
Of the employees who participated in training activities, 47% were white-collars, 34% workers, 11% professionals, 6% managers, and 2% executives and senior executives.
Training was delivered almost entirely (about 99.5%) through classroom sessions, focusing mainly on professional training (73%) and on occupational health and safety (22%).
In 2017, at corporate level, Moncler launched the devel- opment of the MONCampus project, providing for the training of talented young people. Training activities are expected to start in 2018, to develop Company awareness among young people and enhance their knowledge and awareness of core business processes and activities, such as People Management, Finance, Supply Chain, Retail, and Digital & IT Transformation. Internal experts from various functions will be responsible for the design and delivery of training content.
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 behaviours among all employees.
Moreover, employees at the corporate offices in Italy received training on sustainability issues and corporate social responsibility, aimed at encouraging behaviours, actions, and initiatives that take account of social and environmental matters.
Moncler also continued to support the training initiatives organised by the Italian association Valore D, engaging employees at the corporate offices in Italy in a series 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 staff wellbeing and motivation.
At retail level, 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 shop- ping experience unique and distinctive.
At management level, Moncler implemented a Learning Management System enabling all employees at corporate offices and retail staff to consult their respective training plans and access online training.
Following the 2017 update of the Group’s Code of Ethics, the relevant training is planned to be delivered in 2018 to all Company employees worldwide, and will also address human rights issues.
Moncler’s remuneration system is designed to attract, motivate, and retain people with the professional skills required to grow the Group’s business. It is based on the principles of fairness, equal opportunity, and meritocracy.
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 the contribution of the Human Resources Department, the Nomination and Remuneration Committee, the Board of Directors, and the Group’s share- holders through the Annual Shareholders’ Meeting (see the Report on Remuneration, available in the Governance section at www.monclergroup.com).
Remuneration for Company employees takes into consideration specific criteria, including market standards and internal fairness, roles and responsibilities, and distinctive skills and competencies, with every effort made to ensure the highest levels of objectivity to prevent any form of bias or discrimination. Annual compensation reviews are based on meritocracy, rewarding talent based on business results and individual performance outcomes.
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 2017 on the entire Group workforce, including the production site in Romania.
The salary structure of 92% 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 store managers and corporate employees, sales commissions for retail personnel, and performance bonuses for people employed at the corporate offices in Trebaseleghe, Italy) or long-term (stock options and performance share plans).
The Management By Objectives (MBO) system focuses mainly on quantitative targets related to overall Group per- formance (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.
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.
Since 2016, an individual sales commission system has been in place for store Client Advisors (who are increasingly becoming a strategic asset) in addition to the existing team commission structure. It applies to the top performers at each store, and is based on the quantitative and qualitative assessment of sales results.
With regard to long-term incentive programmes, Moncler offers both stock options and performance share plans. These plans enable: linking the incentives for Group managers and key figures to the actual performance of the 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.
The Stock Option Plan 2014-2018 Italian Corporate Structures was devised to reward employees at the Italian corporate offices for their contribution to the growth and success expe- rienced by the Group in recent years; it links overall remu- neration (and, in particular, the employee incentive scheme) to the Company’s actual performance and to the creation of new value for Moncler.
Three stock option plans and one performance share plan have been introduced since the Company’s listing on the stock exchange in 2013:
Remuneration packages offered to employees feature a wide range of benefits, from life insurance and pension plans to wellness options. 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 pos- sible variations depending on country-specific policies.
In 2017, the Company implemented the new Moncler Corporate Welfare Plan, aimed at all staff (including managers) working at Italian corporate offices under a permanent contract or apprenticeship contract effective as at 31 Decem- ber each year.
This two-year initiative was devised to ensure greater care and attention to the wellbeing of Moncler’s true strategic asset – its people.
The Plan offers a wide range of benefits and services, some of which also 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.
During the year, the Company’s welfare initiatives included integrated nurseries and kindergartens for the children of employees at the corporate offices in Trebaseleghe (Padua, Italy), the cost of which was covered entirely by the Group. From September 2018, the selected schools will enrol 27 chil- dren of Moncler employees.
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, created within the Human Resources function, is tasked with developing tailored strategies, actions, and tools to engage personnel while spreading the Group’s culture.
In 2017, the corporate intranet site MONCamp, launched at the end of 2016, was consolidated as a tool to share information and news and enhance networking among colleagues. Through MONCamp, the Company aims to increase:
• awareness, by publishing real-time news about Moncler’s activities, initiatives, and cross-functional results;
• collaboration and engagement, by working in a fully integrated manner at global level, driving innovation;
• empowerment, by actively supporting the exchange of ideas and suggestions and encouraging professional and personal involvement.
The intranet’s 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.
An Editorial Committee was set up to oversee and approve the editorial plan. It meets periodically and includes representatives of the Human Resources, Marketing & Communications, In- vestor Relations, and Sustainability functions. 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.
In 2017, the team of Ambassadors, consisting of one or more employees from each business division, was further consolidated, becoming an effective empowerment tool to convey tips, ideas, and initiatives that are then shared through news included in the editorial plan.
During the year, MONCamp was actively used by approximately 1,680 users, or 70% of the potential Group workforce worldwide.
2017 also marked yet another milestone in Moncler’s dialogue with its employees, thanks to the Company’s firstever Employee Opinion Survey, carried out to assess employee satisfaction. In collaboration with one of the sector’s leading players, the Company sent a 45-question survey to about 2,000 employees worldwide, or 76% of the workforce, excluding workers. The response rate was around 90%.
The survey offered 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 survey showed that the Company has 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”.
A well-structured communication plan was implemented before and after the launch of the survey. The MONCamp intranet site was used to raise employee awareness in the pre- launch phase, through dedicated news items, and afterwards to share the survey’s findings with two ad hoc news articles. In addition, the Company held several function and regional meetings, as well as plenary sessions open to all employees, to share the detailed results of each organisational area.
The Company’s subsequent action plan provided for the creation of functional and cross-functional work groups, in which all employees participate on a voluntary basis, to focus on the issues in need of improvement through a bottom-up approach.
In 2018, the survey will be repeated to assess the first results of the measures implemented. Indeed, the Group 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.
6 Includes the Moncler Corporate Welfare Plan, as well as kindergartens and other childcare services.
7Includes bene ts such as a Company car and accommodation.
8Includes free admission to gyms, tness courses, and other initiatives.
9Percentage calculated on the total workforce with a permanent contract as at 2016, i.e., those included in the 2017 assessment process.