Solvay sets minimum social coverage standard through "Solvay Cares" for all its employees worldwide
February 23 2017 - 2:30AM
Brussels, February 23, 2017 ---
Solvay signed an agreement with its employee representatives
setting minimum social standards which apply worldwide across the
entire Group.
Named "Solvay Cares", this initiative will raise social coverage
for many of Solvay's 30,000 employees. Solvay Cares perpetuates the
pioneering social vision of Ernest Solvay who introduced forms of
social security at the group he founded more than 150 years
ago.
The agreement was signed yesterday by Jean-Pierre Clamadieu, CEO of
Solvay and Albert Kruft, who represents the Solvay Global Forum,
the body that Solvay created three years ago to develop social
dialogue with employee representatives at a worldwide
level.
Solvay Cares will be gradually rolled out as of April 1,
2017 to provide four major benefits:
- Full income protection during
parental leave with 14 weeks for the mother and one week for the
co-parent; and full income protection of one week during
adoption;
- A minimum coverage of 75% of
medical fees in case of hospitalization or of severe
illnesses;
- Disability insurance in case of
lasting incapacity;
- Life insurance with coverage for
the family or partner.
"Solvay's
harmonizing of its social policy means all our employees will enjoy
the same minimum social benefits, so it will protect those who live
and work in countries where these benefits currently are not
provided. True to our Group's century-old tradition of social
responsibility, Solvay Cares will foster even more pride among our
employees to be part of Solvay and stimulate their
performance," said Cécile Tandeau de Marsac, Head of Human
Resources at Solvay. "This agreement shows
Solvay's commitment to a global social dialogue with its employee
representatives."
The first benefits to be deployed are on
maternity and co-parent leaves, which in a country like the United
States, will improve the standard compared to the legal minimum.
Solvay Cares will for example also see the introduction of medical
coverage for severe illness or hospitalization for those in Mexico
and South Korea; disability insurance in China and Poland, as well
as life insurance in India and Russia.
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An international chemical
and advanced materials company, Solvay assists its customers in
innovating, developing and delivering high-value, sustainable
products and solutions which consume less energy and reduce CO2
emissions, optimize the use of resources and improve the quality of
life. Solvay serves diversified global end markets, including
automotive and aerospace, consumer goods and healthcare, energy and
environment, electricity and electronics, building and construction
as well as industrial applications. Solvay is headquartered in
Brussels with about 30,900 employees spread across 53 countries. It
generated pro forma net sales of € 12.4 bn in 2015, with
90% made from activities where it ranks among the world's top 3
players. Solvay SA (SOLB.BE) is listed on
Euronext in Brussels and Paris (Bloomberg: SOLB.BB - Reuters: SOLB.BR). |
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information contained therein.
Source: Solvay S.A. via Globenewswire
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