Annual Report 2024

Social Topics

Our Employees

Management Approach

A distinctive company culture is key to Belimo's leadership in the development, production, and sales of field devices for the energy-efficient control of HVAC systems. The culture is built on trust, competence, and responsibility, supporting personal commitment and teamwork. As a reliable partner Belimo acts with the highest level of integrity, which requires cultural diversity, equal treatment of employees, an inclusive workplace, and the prevention of any discrimination.

Belimo believes that its employees should mirror the diversity of the broader population, as a variety of perspectives enrich the Company’s knowledge base and drives competitive advantage. It considers success achievable only through the diversity of its teams and an inclusive working culture. Belimo is committed to creating a working environment where all individuals are treated with respect and dignity and free from all forms of discrimination and harassment.

In 2024, a dedicated position was created to further strengthen diversity, equity, and inclusion across the workforce in 2025 and beyond.

Diversity

The Company has increased its diversity, assessed by gender, age, cultural background, and skills, through various initiatives that have successfully come to fruition. During the reporting period, Belimo employed a total of 2 452 people (headcount).

In 2024, female employees account for 37.3% of the entire workforce (2023: 37.1%). At the management level  the number of females increased to 19.2% in 2024. The proportion of women at the Executive and Board level remained unchanged during the reporting period at 14.3% and 28.6%, respectively.

In the future, the Company intends to further enhance diversity at the Executive and Board level, ensuring equitable opportunities. Belimo is currently developing a training program for managers to minimize bias in hiring and promotion processes.

Diversity by Region and Gender

Diversity by Region and Management Level

Diversity by Gender and Management Level

Diversity by Age and Management Level

Equal Pay

In order to ensure equal pay for equal work, Belimo continually monitors its remuneration system to guarantee the principles of equal 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.

In 2024, the unadjusted gender pay gap at Belimo is 30%. This difference primarily reflects the distribution of roles across various job categories and locations. A higher proportion of female employees are in production and other blue-collar roles, which typically have lower salary benchmarks based on prevailing market conditions.

Belimo recognizes the importance of pay equity and is committed to ensuring fair compensation practices across all employee categories and geographies. We acknowledge that unadjusted comparisons do not capture the full picture and can lead to misleading conclusions. To provide more meaningful insights, we are continuously working to refine our analyses by considering job roles, responsibilities, and regional factors, as well as promoting greater representation of women in higher-paying roles and leadership positions.

Equal Opportunity

Belimo actively engages individuals with physical or mental disabilities. It participates in various programs designed to support meaningful employment opportunities for people with diverse abilities. In 2024, 65 individuals with disabilities contributed their skills to Belimo under disability employment programs. Additionally, a new pilot project was initiated with four employees from Werkheim Uster, an institution that supports individuals with cognitive disabilities. In the future, Belimo aims to expand inclusive employment opportunities.

Non-Discrimination

Belimo employees are encouraged to report violations of our Code of Conduct (e.g., cases of discrimination) via the globally accessible Belimo Integrity Channel. No cases were reported in 2024 (2023: one case, which has been closed).

Employees 

During the year under review, Belimo continued to hire additional personnel – bringing the total number of employees to 2 361 FTEs – in line with the Company’s growth strategy.

Most of these new hires were in assembly and logistics, supporting the Company’s ambitions to double customization capacities in the following years. Positions in sales, marketing, distribution, administration, and management were also filled to support growth.

Full time equivalents (FTEs) grew the most in EMEA, in the expansion of the customizing center in Grossröhrsdorf and the production capacity in Hinwil in line with the increased sales. More than 50% of full-time employees are based in the EMEA region.

More than 12% of Belimo's workforce worked part-time in 2024.

Employee data disclosed below correspond to FTEs as at the end of the reporting period. An employee is an individual who is in an employment relationship with the organization according to national law or practice.

The definitions of permanent, temporary, full-time, and part-time employees differ between countries. The Group has employees in more than one country. Therefore, the definitions as per the national laws of the countries where the employees are based were used to calculate country-level data. The country-level data was then combined to calculate total numbers, disregarding differences in national legal definitions. Temporary employees cover production peaks or are engaged for temporary projects. In some regions and functions, it is a standard practice to offer a temporary contract to new employees before an offer of permanent employment is made. Belimo does not employ non-guaranteed hours employees. During the reporting period, no significant fluctuation took place.

Employees by Region and Gender

Employees by Region and Contract Type

Employees by Region and Employment Type

Employees by Gender and Contract Type

Employees by Gender and Employment Type

Workers Who Are Not Employees

Belimo engages external workers to cover production peaks and closely collaborates with external engineers and consultants in research and development projects. Furthermore, the Group offers work opportunities for individuals with disabilities in several programs. As at December 31, 2024, Belimo engaged 165 workers who are not employees (December 31, 2023: 192). There were no significant fluctuations in the number of workers who are not employees.