Equal Opportunity Employment

Our success is only possible thanks to the diversity of our team and the inclusivity of our work culture.

Being a reliable partner that always bases its actions on the highest level of integrity requires cultural diversity, equal treatment for employees, and the prevention of discrimination. Belimo believes that the workforce should reflect the diversity of the population, as a variety of perspectives strengthens the Company’s knowledge base and offers a competitive advantage.

Development of Diversity in 2022

In 2022, the share of male and female employees further shifted toward an overall higher share of female employees. At management level (excluding the Executive Committee), the percentage of females also increased by 1.1 percentage points to 17.9%.

At the Executive Committee level, the percentage of women remained unchanged at 14.3% during the reporting period. Also, at Board of Directors level the percentage of women remained stable at 16.7%. It will increase to 28.6% once the nominated member is elected to the body at the next Annual General Meeting in 2023.

Diversity of Governance Bodies and Employees as at December 31 (Headcount)	2022	2021	2020	2019

All Employees
Female	38.8%	38.2%	37.2%	37.9%
Male	61.2%	61.8%	62.8%	62.1%

Employees with Management Functions
Female	17.9%	16.7%	15.2%	16.1%
Male	82.1%	83.3%	84.8%	83.9%

Executive Committee
Female	14.3%	14.3%	0.0%	0.0%
Male	85.7%	85.7%	100.0%	100.0%

Board of Directors
Female	16.7%	16.7%	16.7%	20.0%
Male	83.3%	83.3%	83.3%	80.0%

Belimo is proud to contribute actively to integration by employing people with physical or mental disabilities and is involved in various programs that help find gainful employment for individuals with disabilities. In 2022, 89 individuals with disabilities worked for Belimo in the context of disability employment programs, up 4.7% from 2021:

Disability Employment Programs (Headcount)	2022	2021	2020	2019

Individuals with disabilities working for Belimo in the context of disability employment programs as at December 31	89	85	70	119

These programs are scheduled for further expansion in the future. Belimo was able to offer employment to three Ukrainian refugees at its Hinwil site as part of its support of the people displaced by the war in Ukraine.

Cases Reported through the Belimo Integrity Channel

Belimo employees are encouraged to report cases of breach through the globally accessible Belimo Integrity Channel. One discrimination case concerning alleged inappropriate behavior of a manager was submitted toward the end of 2021. The case has in the meantime been resolved. In 2022, a group of employees brought possible discriminatory behavior of a manager to the attention of the Belimo headquarters via letter. The case was carefully evaluated, interviews with all involved employees were held, culture and teamwork workshops were organized, and the manager received extensive coaching. A review at the end of the reporting period showed that the situation had improved. Human Resources will continue to provide support and monitor the situation.

To further promote the Company’s philosophy of an inclusive culture that encourages, supports, and celebrates the diverse voices of its employees, Belimo Americas formed an Inclusion Council in 2020. In the spirit of continuous improvement, all employees in the Americas attended workshops on diversity and inclusion that were conducted by the Inclusion Council. Other initiatives in the region include the dissemination of a quarterly newsletter titled “BELIMO Bridges” that provides insightful information about various cultural facts, events, and an employee interview relating to inclusion and diversity. Belimo has been working on a global diversity and inclusion initiative during the year under review, which is to be launched in 2023.

Belimo is committed to creating a work environment in which all individuals are treated with respect and dignity and are free from all forms of discrimination and harassment. The Company’s mission statement has been supplemented by a Code of Conduct that is the subject of a web-based training course, which all employees of Belimo are obliged to attend. Those expected to interact with customers and suppliers are also required to participate in an additional training course on the Company’s anti-bribery and anti-corruption policies.

Employees are encouraged to report violations of this policy through the globally accessible Belimo Integrity Channel. Additionally, a company-wide policy prohibiting workplace harassment and discrimination (e.g., on the grounds of race, color, sex, religion, political opinion, national extraction, or social origin) has been implemented. Also, Belimo emphasizes the importance of ensuring that women and men receive equal pay for work of equal value.

Belimo further improves its performance as an equal opportunity employer by tracking key performance indicators such as:

Number, type, and severity of cases reported through the Belimo Integrity Channel:

Corruption, bribery, or conflicts of interest.
Violations of free competition.
Violations of environmental, health and safety regulations.
Violations of export or import regulations.
Violations of Company rules and the Code of Conduct.
Invoicing and balancing of accounts.
Fraud, breach of trust, embezzlement, or theft.

Gender-related regulations and indicators:

Compliance with the requirements of the Swiss Code of Best Practice for Corporate Governance with respect to gender benchmarks for the Board of Directors and Executive Committee of listed companies (percentage of women at the Executive Committee and Board of Directors level).
Percentage of employees of each gender.
Percentage of women in management positions.
Percentage of women at Board of Directors level.
Percentage of women at Executive Committee level.

Equal pay – equal work:

The Company continually monitors its remuneration system to guarantee the principles of wage justice and competitive pay.
Salaries and bonus payments are benchmarked against the market and adjusted as required.
The internal remuneration system is screened for potential gender pay gaps, particularly during the annual salary adjustment process.
The Swiss entities’ equal pay practices are evaluated using the official ‘Logib’ tool of the Swiss Confederation.

Inclusion and diversity:

The number of individuals with disabilities working for Belimo in the context of disability employment programs.
Percentage of employees of each gender.
Percentage of women in management positions.

Others:

Age of employees.
Results of employee surveys.
Percentage of employees who attended the web-based training Code of Conduct course.
Percentage of employees with customer and supplier interactions who have participated in the web-based anti-bribery and anti-corruption policy training.