nus linked to corporate performance indicators has been defined. The Management By Objective (MBO) system takes into
account objectives based on quantitative results relating to the Groups financial performance (mainly Group consolidated EBIT) and qualitative objectives of significant strategic and operation- al 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 office employees and to the store management team, is intend- ed to encourage the achievement of distinctive results through mechanisms that reward over-performance by increasing the amount of the bonus that can be obtained, over a certain thresh- old, where the assigned objectives are exceeded.
In the MBO system, for all those who are involved in the im- plementation of the Sustainability Plan, are assigned social or environmental objectives and internal population's engagement objectives, likewise responsible sourcing objectives are assigned to some key positions. All members of the Strategic Committee, including the Chairman and the Chief Executive Officer, have a percentage of their MBO linked to the achievement of Group s strategic sustainability objectives. In addition, managers who take part in cross-functional business processes or significant projects for the business are assigned common objectives to en- sure a commitment from all colleagues involved.
Lastly, the MBO system provides for alignment between performance objectives and the management of the risks identi- fied by ERM with the aim of spreading a culture of risk assessment and management in the employee s decision-making process.
To date, the Moncler Group has been using Performance Share as a long-term incentive system plans for key positions, up to managerial level. These systems allow linking the incen- tive process for managers and key staff to company s actual per- formance, steering people towards strategies aimed at pursuing sustainable medium/long-term targets, aligning the interests of beneficiaries with those of shareholders and investors and devel- oping policies aimed at attracting and retaining talented profes- sionals.
Three stock option plans and three performance share plans have been issued since the listing on the stock exchange in 2013: Stock Option Plan 2014-2018 Top Management and Key
People, for senior managers and key officers in the organ- isation;
Stock Option Plan 2014-2018 Italian Corporate Structures, for all employees at Italian corporate offices with perma- nent contracts;
2015 Performance Stock Option Plan, for key officers in the organisation;
2016-2018 Performance Share Plan, for senior and key offi- cers in the organisation;
2018-2020 Performance Share Plan, for senior and key offi- cers in the organisation;
2020 Performance Share Plan, for senior and key officers in the organisation.
An ESG Performance Indicator was included into the 2020 Per- formance Share Plan. It refers to the Strategic Sustainability Plan, which contains strategic guidelines on sustainability issues for the medium/long term. In identifying the five strategic priorities and related commitments of the new Plan, Moncler also took into account the objectives set by The Fashion Pact, which the Group joined in 2019, focusing on three main areas: combating global warming, restoring biodiversity and protecting the oceans. Ac- cordingly, the ESG Performance Indicator focuses primarily on three challenges: carbon neutrality, the reduction of convention- al single use plastic and the recycling of pre-consumer nylon. The indicator also takes into account Moncler s performance in the Dow Jones Sustainability Index.
Lastly, store employees are provided with incentive sys- tems based on individual and store performance that reward excellence and service quality, along with the contribution to business development.
See also the 2021 Report on Remuneration, available in the Governance section of the corporate website.
BENEFITS The remuneration package offered to employees includes a wide range of benefits, ranging from life insurance to pension plans and prevention programmes to improve individual wellbeing. The benefits offered by the Group to its employees are linked to the professional category irrespective of the type of contract (fixed/ permanent; full-time/part-time) and follow guidelines applied in- ternationally, with possible changes depending on country-spe- cific policies.
MAIN BENEFITS OFFERED
Financial benefits Employees entitled to benefit Supplementary pension plans 44% Supplementary health plans 56% Life insurance 17% Financial support for disability 40% Company canteen or lunch voucher 55% Company welfare7 51% Other8 32%
Social benefit Employees entitled to benefit Fitness/sports centres9 17% Wellness and nutritional programmes 53%
To develop remuneration policies that not only reward employees for their work performance, but also respond in a timely manner to the non-financial needs, Moncler has developed corporate wel- fare plans, currently in Italy, the United Kingdom and South Korea, to ensure greater care and attention to the wellbeing of people, who have always been Moncler s true strategic asset. In partic- ular, for all the Italian employees, these plans dedicated to peo- ple up to the category of managers at corporate offices, employed under permanent or apprenticeship contracts, as of 31 Decem- ber of each year, provide a wide range of benefits and services, also offered in part to the employee s family, from reimbursement of school expenses to vouchers, leisure activities and wellness packages.
In Italy employees can choose to pay a portion of the welfare credit to supplementary pension funds, and the Welfare Plan has an access clause linked to the Group s profitability.
During the year, in the context of the corporate welfare sys- tem, employees at the corporate site in Trebaseleghe (Padua) who took advantage of the kindergarten and nursery school received a full contribution by the Company: the selected schools welcomed up to 30 children of Moncler employees. By 2022, a kindergarten will be established for the children of employees at the production site in Romania, to host about 60 children.
Lastly, Moncler and Stone Island are members of Sanimoda, the supplementary health care fund for workers in the Italian fash- ion industry, which provides health care services supplementary to those of Italian s National Health System. During the year, 931 Italian employees signed up with Sanimoda.
7 Includes the Moncler Corporate Welfare Plan, as well as kindergar- tens and other child services.
8 Includes benefits such as company car, transport or accommoda- tion allowances.
9 Includes free access to the gyms, fitness classes and other initia- tives.
108 109 MONCLER GROUP
2021 NURTURE UNIQUENESSNURTURE UNIQUENESS