Corporate citizenship and social commitments
Valeo believes that employee progress goes hand in hand with financial performance. It believes that the trust of its employees, who are present in 29 countries and represent more than 140 nationalities, is an essential asset. That’s why it has made firm commitments in terms of diversity, equity and inclusion, health and safety, quality of life at work, and employee engagement.
In addition to these pledges to its employees, Valeo is committed to its value chain, local ecosystems and populations in all the countries where the Group is present. For example, it supports suppliers in their sustainable development practices, develops partnerships with schools and universities, supports local research and participates in charity and educational programs.
Our commitment to our employees
Diversity, equity and inclusion
Valeo sees the diversity of its employees as a key asset across all of its businesses, in all its forms – including gender diversity, disability diversity, cultural diversity and intergenerational diversity. Encouraging diversity among our teams, promoting fairness toward all individuals and ensuring inclusion are key to driving performance and attracting and retaining talent. That’s why the Group has developed “Valuing Diversity”, a dedicated human resources policy aimed at all employees. With the aim of extending this commitment to all its entities, the Group is running a program to raise awareness of diversity, equality and inclusion issues among its leaders and managers.
In addition, performance on diversity has been a key criterion in determining the variable compensation of Valeo’s Chief Executive Officer since 2018. And, in 2021, the gender equity index was incorporated into the variable compensation policy of all Group managers.
Gender equity index
Valeo has chosen to voluntarily extend the gender equity index – a requirement introduced by the French government – to all 29 countries in which it operates. Based on five indicators, the index measures the weighted gaps in pay, pay rises and promotions, as well as the percentage of women in the ten highest paid positions. The Group has set up tools to monitor this indicator at every level (site, country and entity).
To help achieve this objective, the Group has rolled out the “Grow Together” mentoring program, which spotlights women. The aim is for women to represent 50% of employees on the program, which is designed to accelerate participants’ careers. Currently, 150 women take part each year.
Initiatives to promote gender equity are also included in recruitment plans. Valeo tracks the percentage of women in various key categories.
of current interns and work-study students are women
yearly increase in women Managers & Professionals hirings
Women executives : target of 32% by 2030
Inclusion of people with disabilities
Several initiatives are in place at Valeo sites to adapt the working environment to people with disabilities. At plants, this means adapting production lines, or providing exoskeletons to assist with movement.
At Group level, a working group focused on cross-functional initiatives to continuously improve inclusion of people with disabilities has been in place for several years.
In France, the proportion of disabled employees in Valeo’s workforce has remained above the 6% legal requirement since 2019.
For exemple, in Pune (India), the site has a team of 25 operators with hearing loss. The management team has been trained in sign language to so that everyone can communicate. A sign language interpreter is also on site.
Health and safety
Valeo aims to meet the highest health and safety standards by creating a zero-accident environment for its employees. With this in mind, safety audits are conducted systematically and safety performance is reviewed on an ongoing basis.
As part of its five-year plan (2020-2025), the Group is aiming to achieve a lost-time accident frequency rate (FR1) of less than 1 by 2025. This indicator takes into account category 1 and 3 accidents, including occupational illnesses, and covers all types of contract (employees, temporary workers, service providers, interns and people on international volunteer schemes [VIEs]).
of sites certified to ISO 45001 (Occupational Health and Safety Advisory) standard
Quality of life at work
The Group works to continuously improve quality of life at work for its employees, by guaranteeing a safe working environment, providing ergonomic workstations and preventing mental health risks, bullying and discrimination.
In 2018, Valeo introduced a “Building a well-being environment” procedure to define quality of life at work and identify methods and tools to improve it. This approach is implemented at each site by a Quality of Life at Work Committee.
- Labor relations: Valeo has implemented the necessary mechanisms to promote quality labor relations, through works councils and other formal bodies that represent the views of employees and trade unions.
- Ethics and compliance: Valeo’s policy is to comply with the highest ethical standards in all countries in which it operates while strictly respecting local and international regulations. To find out more about this policy and its tools (Code of Ethics, Business Partners Code of Conduct, whistleblowing system and data protection mechanism), visit the Ethics and Compliance section of the Valeo website.
Commitment to Corporate Citizenship
Everywhere it operates, Valeo demonstrates its commitment to society by rolling out initiatives that have a positive impact on its business sector, its ecosystems and the local community.
Commitments spanning the entire value chain
Valeo’s actions covering the upstream steps of its supply chain are an integral part of its commitment to society as a corporate citizen. Aware of the diversity and increasing complexity of the companies that make up its value chains, the Group carefully measures the sustainable development practices of its suppliers, via surveys and audits. It then sets them objectives in line with its own commitments.
Assessing suppliers’ sustainable development practices
As part of its policy of reinforcing the support offered to its suppliers along the entire supply chain, Valeo carried out a survey on sustainable development choices across a representative sample of suppliers.
In 2022, this sample represented 85% of the Group’s manufacturing purchases.
Suppliers were assessed based on a comprehensive questionnaire covering three topics and ten criteria:
- climate change impact, including greenhouse gas emissions and reduction targets
- use of resources, in particular water consumption and waste management
- responsible product management
- labor law
- human rights
- diversity and inclusion
- ethics and integrity
- data protection
On the topic of climate change, Valeo also encourages its suppliers to submit their data on greenhouse gas emissions and reduction action plans to the Carbon Disclosure Project (CDP).
In order to meet its customers’ expectations, Valeo’s partners must also comply with the Group’s Business Partners Code of Conduct as well as the applicable laws and regulations at all times.
Involving suppliers in its commitment to corporate citizenship
In addition to assessing suppliers’ sustainable development practices, Valeo also conducts targeted audits. These audits are carried out in Europe, Asia and North America, and give suppliers a new dimension of support in their sustainable development approach.
Valeo’s sustainable development requirements are systematically set out in agreements with suppliers. Suppliers are required not only to align their objectives with the Group’s commitments, but also to pass on these requirements to their own value chains.
Valeo has also set up a training program for its suppliers to help them ramp up their skills in sustainable development, with a particular focus on reducing greenhouse gas emissions.
Promoting upskilling in the mobility industry
The mobility industry is undergoing rapid transformation. As a major driver of innovation, Valeo places great importance on working with educational ecosystems to ensure that the critical skills for today and tomorrow are being developed.
All over the world, the Group’s sites build partnerships with local bodies at every stage of the education system:
- research institutes and universities: to encourage the development of strategic skills for the future of mobility, Valeo forms special ties with colleges and universities, as well as partnerships with the world of research in the most innovative fields;
- technical schools: to make tomorrow’s technologies a reality, the mobility industry needs qualified operators in increasingly specialized fields. Valeo supports the development of these skills by rolling out apprenticeship and dual vocational education contracts with technical schools situated near its plants;
- young people/elementary schools: the Group runs workshops to promote careers in science and technology, and to help develop future talent in these areas.
Valeo has launched a partnership with COLORI, a socially-responsible company that helps young children understand digital technology without the use of screens. At certain sites in Europe and North Africa, Valeo employees are trained to run workshops for local people from all backgrounds. These actions help to broaden access to digital technology from an early age, and inspire future generations to consider a career in science or technology.
Local community initiatives
Through its One Plant, One Initiative program, Valeo encourages its employees to engage with the local community. Group employees can choose to donate their time and skills to local organizations, through charity initiatives and health and environmental awareness campaigns.
- health and safety initiatives for local communities (such as raising awareness of serious illnesses and disabilities, fundraising operations and vaccination campaigns);
- outreach initiatives aimed at underprivileged communities (such as donation campaigns and food bank operations);
- raising awareness about sustainable development.
These initiatives are the result of proactive commitment by sites and their employees. They demonstrate the importance Valeo places on forming ties with local communities.