APC 2014 Annual Report Download - page 39

OVERVIEW OF THE GROUP’S STRATEGY, MARKETS AND BUSINESSES
RISK FACTORS
We believe it is key if we want to keep on meeting expectations of every level of the organization gives fair opportunity to everyone to
our customers through ongoing innovation. Our multi-polar progress.
1
organization with senior leaders in every continent has been The Group’s acquisitions and growth ambitions have increased its
created to facilitate the growth of talents in every part of the world. global presence and internationalized the profile of its workforce.
To nurture the resilient and innovative workforce required for its This and company reorganization highlighted the importance and
success, the Group encourages employees to take ownership of necessity of working well together. Employee engagement efforts
managing their performance and career development. From the are therefore key to creating a common Schneider Electric identity
point of joining, employees are immersed in a learning culture while promoting diversity and inclusion. The Group introduced a
founded upon three pillars: Education, Experience and Exposure global Diversity & Inclusion policy in 2014, and has for the past few
(3Es). Learning initiatives are actively driven by Human Resources; years regularly sought both blue and white-collar feedback through
internal processes and programs are geared towards creating bi-annual company-wide employee engagement surveys. Listening
learning opportunities for employees; managers are encouraged to to our employees and acting upon their feedback is a key pillar of
guide and coach employees in their individual development our HR Strategy and actions.
journeys. At the end, we want our employees to feel accountable These employee engagement efforts support employer branding
of their development and success at Schneider Electric. initiatives; the Group has actively reached out to prospective
During 2014 further steps were taken to reinforce the active employees through social media platforms and events for targeted
management of talent at all levels and in all parts of the company. groups, and has continued to gain accolades as an «Employer of
A state-of-the-art talent management system was introduced to Choice».
support employees in planning their career development, while Work continues to be done in these and other areas so that HR is
giving managers and HR specialists enhanced visibility to plan for equipped to effectively deliver its employer value proposition and
longer-term career development and succession to critical roles in further support the Group in its future endeavours.
the organization. Our culture of systematically reviewing talent at
Industrial and environmental risks
Defective products or design flaws may cause
that a product or one of its components is not 100% safe for
people and/or equipment. Another broad recall campaign involves
bodily harm or property damage and subject us
our global recall of Vigi Compact NS/NSX circuit breakers
to product liability claims and other adverse
produced between 2009 and 2011, which began in2011 and was
effects.
continued in2012 and2013. It was concluded in2014.
Despite its testing and quality procedures, the Group’s products As in 2013, no broad product recall was begun in2014.
might not operate properly or might contain design faults or Some of the expenses incurred by Schneider Electric in the
defects, which could give rise to disputes in respect of our liability context of product recalls are covered by the liability insurance
as seller or manufacturer, notably in Europe, where liability related program described in the «Insurance» section below.
to defective products could lead to a loss of revenue, claims under
warranty and legal proceedings. Such disputes could reduce Provisions for product risk totaled EUR446 million as of
demand for our products or harm our reputation for safety and December31, 2014 (see note23 to the consolidated financial
quality. To prevent or limit these risks, Schneider Electric statements).
immediately recalls products if there are any doubts whatsoever
37
2014 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC