LensCrafters 2009 Annual Report Download - page 38

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Supporting the purchasing power of 7,800 employees and their families, even in difficult periods: this is the
underlying reason which led Luxottica to launch an innovative system of non-monetary benefits in 2009 for
its entire Operations personnel in Italy.
Despite a positive nominal increase in salaries - due to the excellent economic results of Luxottica which
benefited employees through the more traditional bonus systems - the effective purchasing power of sala-
ries has, in fact, gradually decreased.
The welfare system of Luxottica - which is jointly managed with Trade Union Organizations through a series
of agreements and which includes Quality indicators - was born from the conclusion that this reduction
can not only be compensated through traditional actions applied to fixed or variable compensation. The
key idea of the initiative was therefore the possibility of leveraging alternative tools in support of income
which therefore would allow the gap between company cost and real purchasing power transferred to the
employee to be entirely eliminated.
The details relative to the initiatives launched by Luxottica are as follows: in the month of June, all workers
and employees first collected - within certain sales points with stipulated agreements - a package contain-
ing primary food items with a total sales value of Euro 110.
In order to help employees with children, Luxottica also built a nursery school in Sedico (Belluno) and
reimbursed the families for any costs sustained for the purchase of text books in middle and high schools
as well as universities.
Finally, Luxottica stipulated an agreement with one of the primary Italian energy companies which allows
employees to receive a 22% discount on their consumption of electrical energy.
Other initiatives will be launched in 2010. The amount of economic resources that Luxottica allocates to
the Welfare system is proportional to the capacity of the entire production organization to achieve better
and better quality results, a determining factor in the excellence and distinctiveness of Italian craftmanship
in the world markets.
The initiative is jointly managed with the trade unions and demonstrates the consolidated and constructive
relationship which exists at the national and territorial level between Luxottica and worker representatives:
Luxottica has therefore created a Governance Committee for the project along with the trade unions. This
is a joint committee whose task is to identify, propose and share program operations; a Technical and Sci-
entific Committee works along with this committee and implements socio-economic and financial analyses
which are useful in order to most effectively assess the allocation of funds.
By means of the welfare program, Luxottica has therefore positioned itself as a pioneer within the realm of
a new system of industrial relations which pursues the strengthening of the productive system and the im-
provement of real compensation for all workers while also promoting services for the workers themselves.
WELFARE
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