Performance reviews

Regular performance and career development reviews are a critical element of how we retain, motivate and develop our staff. It is through regular discussions between employee and supervisor or manager that opportunities for development are identified as well as for recognising and nurturing talent for career progression. Each of our businesses has developed its own approach to employee appraisal, but all employees are covered by a formalised scheme.

The example below demonstrates how our business in South Africa manages this responsibility

Case Study: Vendome Distributors (Pty) Ltd, South Africa

Our operations in

South Africa

cover product distribution, sales through three flagship boutiques and some technical staff responsible for after sales care. We operate a formalised annual appraisal process in March of each year. Employees and managers together complete a performance feedback form which reviews both past performance and long-term career goals and aspirations. This is used to agree an individual development plan. This can include coaching and mentoring, local external courses and attendance at management development or technical training run by Richemont or its Maisons in Europe. Developing talent regardless of race or gender is a key priority for us as we reflect social changes in the country and among our customers. Around 60% of our employees are women across all employment grades including senior management. Currently, around 40% of employees are non-white including management representation. Diversity training forms a significant element of our training expenditure including outreach to help provide employment opportunities to all sections of society. We recognise that involvement in community activity can be an important means to develop skills and employee loyalty. Employees typically participate in an annual charity of the year fundraising programme and the company supports three charity causes each year such as HIV programmes.