Umicore is a publicly listed company. As such, we interact with many parties who have an interest in the way we conduct business. The relationship that we foster with these parties or stakeholders has a direct impact on our success. Stakeholder engagement at Umicore is based on a localised approach whereby all sites are required to identify their respective stakeholders and establish suitable ways of engaging with them. In many cases, such as the dialogue with customers and suppliers, the stakeholder relationships are primarily managed by the business units themselves, in line with our decentralised approach to unit management.
Umicore employs 10,420 people around the world. We invest significant resources in ensuring our status as an employer of choice in all the regions where we operate. In 2018, Umicore paid a total of € 731 million in salaries and other benefits to the employees of the fully consolidated companies. Social security payments totaled € 101 million.
Umicore is committed not only to providing competitive salaries and working conditions to its employees, but also to providing the necessary occupational and professional training opportunities. Employees are expected to adhere to the principles and policies outlined in The Umicore Way and our Code of Conduct. Open dialogue is promoted within the company with our employees and includes an opinion survey every 3 years.
Umicore respects the principle of collective bargaining wherever it is requested. While such practice is commonplace in Europe, in other locations collective bargaining mechanisms and trade unions may be less common or face local legal restrictions. Umicore has a sustainable development agreement with the international union IndustriALL on the global implementation of its policies on human rights, equal opportunities, labor conditions, ethical conduct and environmental protection. The agreement allows trade unions to participate constructively in the pursuit of these objectives. A joint monitoring committee composed of both parties oversees the implementation of the agreement.
Supplementary channels of company-wide communication include the intranet and company and business unit newsletters. Umicore operates a Group-wide learning management platform called “MyCampus”. This platform also incorporates a social collaboration tool that facilitates knowledge sharing through the company.