L’Oréal has expanded its "Share & Care" program across 68 countries, focusing on "the best social practices in welfare, health, parenthood and quality of life at work for its employees."
The company will introduce "complementary health insurance schemes to allow for a minimum reimbursement of 75% of health expenses for main risks," according to L'Oreal.
L'Oreal will offer 24 months' salary to deceased employees families in seven countries.
It will also guarantee a minimum of 14 weeks of maternity leave paid at 100%.
The program is aligned with the company's sustainability objectives, which aim to reduce greenhouse gas emissions, water consumption and waste per finished product by 60%.
"With the 'Share & Care Program,' L'Oréal's desire is to combine the globalization of economic performance with the globalization of social performance," said Jean-Paul Agon, chairman and CEO of L'Oréal. "This program symbolizes the universalizing of L’Oréal’s social model and represents a real progress driver."
"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," said Jérôme Tixier, executive vice president human resources at L'Oréal. "Thanks to the mobilization 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."