Goal 1: NO POVERTY
GOAL 1: NO POVERTY
This is the biggest challenge of our time and pivotal to sustainable development worldwide. Poverty comes in many forms, ranging from people on low incomes to those in extreme poverty, of whom there are still over 700 million globally.*
What’s our objective?
We believe it’s our responsibility to guarantee that both our own and our business partners’ workforces are paid fairly. We work closely with our partners to meet this commitment.
How do we contribute?
- We want to offer our workforce financial security and raise salaries annually, as long as our company is in a financial position to do so. We focus on offering an equitable, fair and transparent pay structure. This approach is based on market research, comparisons of internal and external salaries and an individual’s performance.
- Approximately 95% of our employment contracts are permanent. This allows our employees to make financial plans to a certain degree.
- We also offer a company pension plan with attractive benefits. This allows our workforce to build up vital savings in order to prevent poverty in old age.
- To help our workforce, we also provide other benefits, such as subsidized lunches and discounts on staff purchases.
- We’re also committed to implementing the ILO (International Labor Organization) code of labor practice as a fundamental labor principle and right in our supply chains across the world.
- By collaborating with the Fair Wear Foundation (FWF), we’ve engaged in a long-term commitment to introduce living wages in our production facilities.
- We want to help our partners gradually raise basic wages to recognized living wage benchmarks by 2025 and pay these to over 70% of the workforce.
- As a member of the Partnership for Sustainable Textiles (Textile Alliance for short), we support producers in implementing the partnership’s goals. And by joining forces with other members of the Textile Alliance in the Living Wage initiative, we aim to help improve wages in the textile industry as a whole.
- For more details about the steps we’ve taken: Employees & Society.