Speciality chemicals manufacturer Solvay has unveiled a two year profit sharing plan for its employees indexed to the Group's financial and sustainable development performance for 2015 and 2016.
In a press release, Solvay said after the successful termination of a one-year pilot scheme benefiting more than 22,000 employees in 2014, Solvay has now announced this new two-year profit-sharing plan.
"Based on both quantitative and qualitative criteria, it is linked to the achievement of 80 per cent of financial and 20 per cent of sustainable development targets," it added.
Solvay has allocated an annual budget of €10 million to the plan for 2015, which will be distributed in line with each country's total payroll, with each employee in a particular country receiving the same amount.
Plan beneficiaries are all Group employees in all 51 countries, with the exception of senior executives and French employees who already benefit from an equivalent plan.
"We wanted to introduce a simple value-sharing scheme benefiting everyone," Cécile Tandeau de Marsac, group general manager human resources at Solvay said.
"This innovative approach allows us to raise the awareness of Solvay employees, whether blue-collar or white-collar employees, to the Group's economic and societal performance," Marsac added.
"This agreement illustrates our commitment to remunerate our employees in a fair manner, in line with 'Solvay Way', our sustainable development policy," she observed.
"This global agreement is a milestone because it rewards the engagement of the Group's employees worldwide in Solvay's success," said Albert Kruft, coordinator of Solvay Global Forum which will manage the plan.
"It also represents an important step forward in our social dialogue as it is the result of the first meetings within the Solvay Global Forum," Kruft too added.
