Long-term commitment for employees and communities

VBG Group is a group with well-established community involvement, something that has permeated the company since it was founded. We will be an employer where employees can thrive and develop, and a positive force in the communities where we operate. VBG Group supports and respects human rights, and works to counteract all forms of bullying and harassment.

Diversity in the workplace is encouraged at all levels throughout the Group. We employ and treat our employees in a non-discriminatory manner as regards gender, age, nationality, religion, political opinion, physical or mental disability, membership in an association, sexual orientation, and social or ethnic origin. We also work to ensure our employees have a safe, healthy work environment.


This includes having a zero tolerance approach to workplace accidents. In 2019, 26 workplace accidents (30) were reported. Efforts to prevent future accidents were made during the year, including Ringfeder Power Transmission’s development of a new
system for analyzing the causes of accidents. Staff in 2019 comprised 77.4% men (79), 22.5% women (21) and 0.1% non-binary (0).

We are striving for a greater proportion of women in executive positions in the Group. In 2019, 20% (17) of executive positions were filled by women. Our goal is for this
percentage to be equal to the total proportion of women in the Group.

Criteria for an employee to be regarded as holding a senior position are that the employee is part of a management group, has subordinate employees, holds an influential position with major impact factors or has specialist competence in one or more areas. At least one of these criteria must be met before the person can be classified as senior.

Target - workplace accidents

We work to ensure our employees have a safe, healthy work environment. This is why we have  a goal of zero tolerance for workrelated accidents. During 2020 13 work related accidents were reported, which is a decrease of accidents with 75,5% since 2017.

 

 

Target - proportion of women managers

An equitable, diversified workplace results in more angles of approach and better use of resources, as well as promoting a better work environment. That is why we work actively to recruit for an equitable workplace, increasing the number of women in executive positions.

The Group’s objective is for the proportion of women managers to match the proportion of women in the organization in total.

 

In 2020, 23,5% of executive positions were filled by women.

 

Target - anti-corruption training

VBG Group must have an honest approach in relation to its business partners and other stakeholders. Employees in VBG Group may not take payments, gifts, or other forms of remuneration from third parties that could affect their objectivity in business decisions. The Group once again held anti-corruption training in 2020, with the goal that all selected employees would complete the program during the year. At the end of 2020, 100% of the chosen participants had completed the training.

The target of 100% was achieved in 2020.

Long-term community involvement

Since its founding, VBG Group has been a socially responsible employer. We are largely owned by three owner foundations that invest their returns in both our employees and society. This is a structure that creates a long-term perspective for the company as well as sustainable investments in society. Increased profits for the Group results in more money for research through one of these owner foundations, the Herman Krefting Foundation for Allergy and Asthma Research.

Our companies and divisions are involved in their local communities through supporting local initiatives and charity projects.

Human Rights and Political Neutrality

Respect for human rights is not only a social issue, but also important from the perspective of business ethics. Our zero tolerance approach to discrimination and all forms of slavery, forced labour or child labour is becoming increasingly relevant in pace with the Group expanding globally. Especially in connection with establishment in developing countries, we must make a positive contribution to social improvement and create opportunities for the local population by placing the same stringent requirements on our suppliers and collaborating partners as we do on ourselves. Our accounting and financial reporting must be carried out correctly, in accordance with generally accepted accounting practices. This includes always providing information that is accessible, truthful, relevant, comprehensible and current.

Employees and members of the Board of Directors of VBG Group must handle their private (and other external) activities and economic interests in a way that does not result in a conflict of interest arising in relation to the Group. VBG Group is also politically neutral, and therefore does not permit names or assets belonging to the Group and its companies being used to promote the interests of political parties or candidates.