Jean-Paul Agon, chairman and CEO of L'Oréal, has joined Guy Ryder, ILO director-general, to launch the Global Business Network for Social Protection Floors, which ains for social protection for all.
Previously: Luxe and New Markets Driving L'Oreal First-half 2015 Results
According to the group's figures about 73% of the world's population lack access to adequate social protection coverage. By the end of 2015, L'Oréal's Share & Care program will provide its employees in 68 subsidiaries the best social benefits in four areas: health, welfare, parenthood and quality of life at work.
"It is primarily the responsibility of the states to ensure the existence of adequate social protection for society and to plan, organize and finance the necessary protections," said Ryder. "However, companies could contribute significantly to establish social protection floors adapted to each country in accordance with the conventions and the recommendations of the ILO."
Agon noted, "Providing our employees worldwide with the best social protection is one of L'Oréal's strategic ambitions. This is the aim of our Share & Care program launched two years ago and rolled out in all our subsidiaries by the end 2015. We have worked in close collaboration with the ILO to share our practices and we are delighted to see that our partnership has now led to the creation of this global network of businesses dedicated to developing social protection. Together we are a driver for innovative solutions to accomplish this goal."