BOSTON, Dec. 19, 2018 /PRNewswire/ -- Schneider Electric, the leader in digital transformation of energy management and automation, has won the 2018 Prix de l'Indice Euronext-FAS IAS® of the French Federation of Employee and Former Employee Share Owner Associations (FAS) for its outstanding employee share ownership plan. The FAS recognized Schneider Electric's strong and ever-increasing subscription rate, thanks to annual plan launches and a significant uptake from employees internationally.
"The WESOP program allows everyone at Schneider Electric to take ownership, and participate in our collective success," said Schneider Electric CHRO Olivier Blum. "It reflects our ambition of becoming one of the world's most inclusive companies, and we are very proud to have been recognized by the FAS."
Schneider Electric's Worldwide Employee Share Ownership Plan (WESOP) was first launched in 1995. Since 2007, it has been renewed every year, allowing Schneider Electric's employees to share collectively in the company's success, and build a stable and sustainable share owner group in the long-run. The 2018 WESOP had the highest subscription rate ever in Schneider Electric history, with a 45% subscription rate (over 52,000 employees) across the 41 participating countries. Outside of France, 41% of employees subscribed which is an exceptionally high take-up rate compared to similar French corporations offers. The FAS already awarded employee ownership prizes to Schneider Electric in 2009, 2013 and 2014.
Inclusive program scheme to encourage employees to act like owners
Over this period, Schneider Electric has built a stable and sustainable employee share-ownership group of 65,000 employees, reflecting our workforce diversity.
Schneider Electric management's strategic ambition is to create a strong feeling of belonging and ownership through this long-term commitment, and to empower employees to innovate not only for the company, but also for themselves.
This commitment has paid off. An employee survey conducted in 2017 found that a high level of pride in Schneider Electric was the main driver behind employees' decisions to participate, regardless of the size of their investment.
About Schneider Electric
Schneider Electric is leading the Digital Transformation of Energy Management and Automation in Homes, Buildings, Data Centers, Infrastructure and Industries.
With global presence in over 100 countries, Schneider is the undisputable leader in Power Management – Medium Voltage, Low Voltage and Secure Power,and in Automation Systems. We provide integrated efficiency solutions, combining energy, automation and software.
In our global Ecosystem, we collaborate with the largest Partner, Integrator and Developer Community on our Open Platform to deliver real-time control and operational efficiency.
We believe that great people and partners make Schneider a great company and that our commitment to Innovation, Diversity and Sustainability ensures that Life Is On everywhere, for everyone and at every moment.
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SOURCE Schneider Electric