Firmenich becomes second company in the world to secure living wage certification for all employees

Firmenich becomes second company in the world to secure living wage certification for all employees

By Julia Wray

The perfume and style agency achieved certification three years forward of its goal completion date
Firmenich’s boss mentioned he hoped the transfer would encourage different corporations to do the similar Firmenich has change into solely the second company in the world to obtain living wage certification throughout its world operations.

NGO Fair Wage Network awarded the Swiss perfume and style agency the certification three years forward of the company’s goal completion date, following ‘rigourous’ evaluation; again in 2021, Firmenich dedicated to offering a licensed living wage to 100% of its employees globally by 2025.

“I’m very proud that Firmenich is certainly one of solely two corporations worldwide to have succeeded in securing living wage certification,” mentioned Gilbert Ghostine, CEO of Firmenich.
“As a vital pillar of our inclusive capitalism mannequin, our progressive method goals at making a constructive affect for all our stakeholders, and our employees are key to making us thrive as a accountable enterprise.
“Ensuring that folks, wherever they’re, earn a living wage is a vital step in direction of constructing a extra equitable and inclusive office and society.
“Fair Wage Network recognises our concrete achievements in embedding honest compensation throughout our group and I’m notably happy that is elevating the commonplace in our business.”
Methodology clever, Fair Wage Network defines the living wage for every nation the place a company has employees.
These thresholds then assist assess whether or not the fastened compensation paid to all employees in every nation meets the living wage commonplace.

Ghostine, who will quickly retire from his place as CEO as a part of a administration shake-up following the Firmenich-DSM merger, mentioned he hoped the company’s certification would “encourage different organisations to be a part of our efforts”.

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