Annual Report 2024

Talent Attraction, Development & Retention

Management Approach

Developing employees' talents is essential for delivering customer value and achieving operational excellence and solution leadership. Targeted talent development empowers employees with the training they need to excel in their roles and deepen their specialized expertise. Equipped with essential knowledge, employees become fully proficient in their roles and responsibilities. Belimo uses performance and behavioral appraisal systems across all levels, which include regular status reports on individual goal achievement and employee performance. Personal development plans are outlined and discussed during regular employee reviews, while global and local induction programs ensure that new team members are effectively onboarded and well-acquainted with their roles and Belimo’s corporate culture. This approach supports employees proactively in their continuous lifelong learning journey. Simultaneously, it helps the Company to retain talent.

For Belimo, establishing talent attraction and retention begins with transparent communication and a culture of trust. Establishing a workplace where employees can thrive and realize their full potential, is a core aim. Belimo views employee engagement as a competitive advantage, recognizing that satisfied teams contribute directly to customer satisfaction. An empowered and engaged workforce is essential to market success, as it strengthens customer support and innovative leadership. To sustain this, Belimo regularly conducts training on its mission and values, promoting alignment in management decision-making and cultivating a culture of trial and error. Across all levels, managers are expected to act as role models and to lead by example. Additionally, Belimo supports social and team-building activities.

Career Development

Belimo provides career path planning for managers and specialists and offers financial support for further education. Additionally, it offers courses aimed at skill enhancement and career development, including:

• Methodical Competency: Methodical skills encompass general, cross-disciplinary knowledge. This includes the ability to apply the specific learning and work methods necessary for expertise development. Belimo offers a variety of courses to develop these skills, including presentation skills, project management, workshop leadership and moderation, and an introduction to HVAC and building technology.
• Social Competency: Social competencies are essential for thriving in the workplace, as they enhance collaboration. Key skills include empathy, teamwork, and strong communication. To support these, Belimo offers courses in effective communication, negotiation, conflict management, intercultural competences, and language training.
• Code of Conduct: Belimo’s Code of Conduct, alongside anti-bribery and anti-corruption policies, serves as a binding guideline for legal compliance and ethical behavior. It provides employees, managers, and the Executive Committee with a framework for orientation, and raises awareness of legal risks in everyday working life. All employees are regularly trained on the Code of Conduct and the relevant policies via web-based training courses. New hires are introduced to the Code of Conduct during the onboarding process.
• Transition Assistance Programs: In Hinwil (Switzerland), Belimo offers pre-retirement courses and, in cases of employer-initiated termination, occasional outplacement services.

Leadership Skills

Employee personal development is strongly supported, and managers regularly complete leadership training courses. In 2024, Belimo launched, together with INSEAD, the custom-designed "Leading with Values" program, centered around Belimo's values. This program trains senior employees on crucial leadership aspects such as active culture management, emotional intelligence, giving and receiving feedback, constructive debate, decision-making and cognitive diversity.

In addition to "Leading with Values”, Belimo offers other programs on topics such as the essence of leadership, succeeding as a supervisor, change management, health promotion, or “The Seven Habits of Highly Effective People”.

The "Belimo Leadership Accelerator" program launched in 2021, combining internal workshops with an external training program, continued throughout 2024, with an expected four additional individuals to start in the beginning of 2025. The program helps participants to develop their leadership skills, while providing Belimo with a pipeline of internal candidates for leadership roles.

Average Hours of Training per Employee

Upgrading Employee Skills and Transition Assistance Programs

Belimo has expanded its learning offering by introducing both online and instructor-led programs providing employees with a diverse range of development options. Career path planning is available for both managers and specialists, with financial support provided for further individual education.

Regular Performance and Career Development Reviews

In 2024, 100% of employees received regular performance and career development reviews. Belimo employs performance and behavioral appraisal systems at every level including regular status reports on individual goal achievement and employee performance.

Making Our Values Visible

Belimo’s values are instilled in its employees from the start, with regular internal communication and training reinforcing the Group’s vision, mission and values. This shared understanding empowers employees to make valuable contributions. Realizing the importance of stakeholder engagement, Belimo promotes a strong company culture with its customers, suppliers, and partners. In 2023, a group-wide initiative, “Making Our Values Visible”, was launched to strengthen Belimo’s unique company culture. Over several months, internal stakeholders defined principles and habits aligned with the Group’s four values: credibility culture, customer value, solution leadership, and operational excellence. These values provide clear guidance for employees on how to act, lead, and make decisions in accordance with Belimo’s best interests. This framework aims to foster clarity, consistency, and accountability among all employees. In 2024, "Value workshops" (3-hour sessions led by internal Culture Coaches) were introduced and rolled out globally. They are due to continue until the end of 2025.

Engagement Score

Belimo conducts engagement surveys every three years, with interim periods focused on identifying and addressing improvement areas within each team. The employee engagement score obtained through these surveys is a key performance indicator for measuring staff commitment.

The 2023 employee engagement survey achieved an outstanding score of 8.9 (out of 10.0) , with an excellent participation rate of 90% (1 978 out of 2 198 employees), further demonstrating the high level of employee commitment. The next engagement survey is scheduled for the beginning of 2026.

In the survey, employees responded to an anonymous questionnaire on central workplace subjects, including job content, structures, processes, collaboration, the Executive Committee, dealing with change, line managers, employee promotion, and remuneration. The subject areas that achieved the highest agreement overall at 8.9 include:

• Team collaboration: reflecting a good feedback culture, mutual support in challenging tasks, open communication, and the freedom to express opinions and criticism.
• Customer orientation: demonstrating a commitment to understanding and meeting customer needs, a core Belimo value.
• Direct manager and supervisors: exhibiting attributes such as openness, honesty, and adherence to embracing company values.

Employee Turnover and New Hires

Another key performance indicator for employee engagement is staff turnover, which averaged 8.4% in 2024, up from 8.2% in 2023. Belimo defines employee turnover as terminations by employees (for any reason, including retirements and deaths) or by the Company (unsatisfactory performance), excluding departures of apprentices or temporary employees, or employer-initiated terminations for economic reasons.

Employee Turnover by Region and Gender

Employee Turnover by Region and Age

In 2024, there were a total of 356 new hires representing an increase of 1.1% compared to the prior reporting period.

New Hires by Region and Gender

New Hires by Region and Age