Edenred unveils its purpose
Edenred unveiled its purpose at its General Meeting on May 11, 2021. Defined by its employees and approved by the Board of Directors, the Group’s overriding goal is to “Enrich connections. For good.”
Since it was founded, Edenred has been the everyday companion for people at work. The Group connects over 50 million users and 2 million partner merchants in 46 countries via more than 850,000 corporate clients, driving a virtuous circle through its 250-plus specific-purpose payment programs for food, mobility, incentives and corporate payments. With the unveiling of its purpose, Edenred is reaffirming its commitment to creating sustainable value for all its stakeholders thanks to these connections.
“Enrich connections. For good.” brings new light to Edenred’s ambition, making a strong link between the Group’s roots, its current position, and the future that it envisages. This purpose is intended to inform the Group’s strategic decisions and unite its teams by giving meaning to its organization, in line with its “Ideal” corporate social responsibility policy.
“Enrich connections.” reflects the Group’s expertise in transforming each transaction into an enhanced experience, into a smart, safe and efficient connection, while enhancing its value. Indeed, beyond payments, each transaction, each connection, addresses specific needs to enhance employees’ well-being and purchasing power, improve companies’ attractiveness and efficiency, and vitalize the employment market and the local economy.
“For good.” is a message of progress and the possibility of a better future. Edenred’s solutions have a positive impact on health and well-being. They support the local economy, protect vulnerable communities and preserve the environment.
“For good.” is also a promise: in a world where many connections are fleeting, Edenred sets out to form solid, lasting bonds – meaningful, trust-based connections.
Bertrand Dumazy, Chairman and Chief Executive Officer of Edenred, said: “Defining our purpose marks a new chapter in Edenred’s history, which started with the invention of the Ticket Restaurant in 1962, and has seen the Group spread its wings since its establishment in 2010. I would like to thank our employees for boldly taking up this challenge. Together, we took the time to think about what brings us together: our values, our strategic ambitions, our role as an economic player and corporate citizen, our relationships with our stakeholders, and our CSR policy. We managed to sum up all of these bonds in a meaningful expression that captures the essence of Edenred as it is today, and will guide us as we build the Edenred of tomorrow: ‘Enrich connections. For good.’”
“Ideal”: 3 commitments that embody Edenred’s purpose
Edenred’s purpose is embedded in all the Group’s strategic thinking. It can be seen in action in its corporate social responsibility policy, through three strong commitments.
The Combined General Meeting of Edenred shareholders, which was held in Paris on Tuesday, May 11, 2021 under the chairmanship of Bertrand Dumazy, Chairman and Chief Executive Officer, also adopted resolution no. 17 proposed by the Board of Directors, which notably aims to make the authorization to proceed with 25% of the free share allocation plan contingent on the achievement of these criteria, assessed over three consecutive financial years.
A project driven by 10,000 committed employees in 46 countries
The development of Edenred’s purpose was a truly collective undertaking, involving several hundred Group employees around the world.
Launched in April 2020, the project was initially driven by young Edenred talent taking part in the Group’s “Edenstep” graduate program. Participants were divided into two working groups and asked to reflect on the concept of purpose, which involved organizing numerous workshops, benchmarks, surveys and interviews with other employees.
The young graduates then handed the project over to a “mirror group” of some 20 employees representing Edenred’s various businesses and geographies, so that they could provide an operational perspective. Lastly, a larger group of roughly 300 employees was consulted by means of a questionnaire to establish Edenred’s main assets and strengths in its environment.
While this was taking place, an independent study was conducted to stimulate the thought process, seeking input from internal and external stakeholders including clients, partners, public authorities, investors, sociologists and philosophers.
Our manifesto: Enrich connections. For good.