Financial support for employee projects
We also use our Living Responsibility Fund to provide financial support to outstanding volunteer projects involving our employees. Drawing from Group funds, we provide grants to a diverse range of partner organizations and their local projects around the world each year. In order to qualify for financial support, at least two Group employees must volunteer a total of more than 50 hours of their time to the given partner organization over the course of one year. Projects in which employees invest more than 400 hours are eligible to receive a maximum of €4,000. The exact amount of funding awarded is based on the total number of volunteer hours over the course of the application year. Our goal is to support employees who demonstrate lasting commitment to social or environmental causes and serve as models for their fellow colleagues.
The LR Fund jury, which selects projects to receive funding, includes representation from all Group board departments. In 2016 funding was awarded to 114 employee projects in 38 different countries. More than 5,500 employees volunteered approx. 50,000 hours of their time to these projects – the equivalent of over 6,200 eight-hour work days. In the reporting year the LR Fund provided a total of €220,000 in financial support.