Recognition and rewards have been identified as important engagement drivers for our employees and direct suppliers. By ensuring good working conditions, Signify provides a fair, safe, and respectful environment, and an inspiring place to work and grow. We consider fair remuneration a precondition for our employees to flourish. Our company policy is to offer remuneration that meets or exceeds the provisions of all applicable wage laws, including those relating to minimum wages, overtime hours and legally mandated benefits.
Signify launched its Living Wages program in 2017. Every two years, Signify performs an analysis of salaries and benefits for employees globally with respect to a living wage, covering the necessary living costs. Results of this analysis can be found in our Annual Report 2022, page 149.