In line with its mission and its values, L’Oréal recognises and rewards the contribution of each employee to the company’s development by offering attractive compensation and a worldwide profit-sharing program, alongside key benefits. This policy applies to all employees. However, it is implemented in varying ways according to local regulations, culture and practice.
COMPENSATION THAT IS MARKET-COMPETITIVE
Compensation is regularly adjusted in line with the market, individual performance and efficiency in the post, qualifications and experience. Local salary structures are regularly assessed in terms of the outside market but also in terms of internal salary levels for equal responsibility, skills and experience.
L’Oréal has a performance-oriented culture. Our compensation policy reflects this very culture, including bonuses to reward high levels of personal performance and involvement as well as team and business unit performances. This system is currently being deployed in every country in which L’Oréal operates. The Group has also set up a program known as the Worldwide Profit Sharing (WPS) program which gives employees a share in the fruits of successes in their country. Finally, L’Oréal is investing in the long-term security of its employees by committing to offer benefit programs (which may include retirement, health care, death and disability plans) and other fringe benefits in line with the regulations and practice in each country, which will complement the compulsory schemes.