The program was introduced in 2013, identifying specific targets in welfare, health, parenthood and quality of life at work for its employees, and the French cosmetics maker hopes to have fulfilled 100% of these by the end of this year.
"With the ‘Share & Care Program,’ L'Oréal's desire is to combine the globalisation of economic performance with the globalisation of social performance. This program symbolises the universalisation of L’Oréal’s social model and represents a real progress driver,” says Jean-Paul Agon, Chairman and CEO of L'Oréal.
Targets
The beauty giant hopes to achieve these targets by introducing a number of separate schemes focusing on different aspects of social practice.
"At a time when only 39% of the world's population has access to medical coverage, the ‘Share & Care Program’ offers a major social breakthrough in many countries,” says Jérôme Tixier, Executive Vice-President Human Resources at L'Oréal.
“Thanks to the mobilisation of all of our teams, the program is being deployed very quickly and aims to reach the targets set for the end of 2015. It is the only worldwide social initiative that is so comprehensive, systematically deploying the four pillars - welfare, health, parenthood and quality of life at work - internationally."
Schemes
Regarding health, L'Oréal’s objective is to introduce complementary health insurance schemes to allow for a minimum reimbursement of 75% of health expenses for main risks, such as surgery or intensive treatments, in countries where the social health system does not provide such a coverage.
By the end of 2014, 58 countries had introduced this program, and it is the company’s hope that the remaining 10 will be at this standard by the end of 2015.
In the case of death, 7 countries paid the equivalent of 24 months' salary to the deceased employee's family as compensation in 2012. In 2014, this grew to 49 countries, 72% of the total. At the end of 2015, 68 countries are expected to reach this result.
And regarding parenthood, L'Oréal’s commitment is to guarantee a minimum of 14 weeks of maternity leave paid at 100%. Having achieved this in the majority of countries at the end of last year, the remaining 14 are expected to be at this standard in 7 months’ time.
The social program is part of the Group's ‘Sharing Beauty With All’ commitment launched two years ago, focusing on four key areas: innovation, production, consumption, and developing sustainably.