Balenciaga: Italian new recruits will receive 25% more than the National Collective Bargaining Agreement. In the race to attract talent, the brand from Kering’s stable makes a major leap forward. Allowances for travel and overtime work are also increased, as is welfare. And that’s not all: for the first time “the Balenciaga contract” will include the Scandicci, Cerreto Guidi and Novara offices, becoming applicable to all employees in Italy.
The Balenciaga Supplementary Agreement
In recent days, the new Integrative Contract was signed by Balenciaga’s legal representatives and trade union organisations. It provides that the minimum entry wage will increase by approximately 25%, compared to the National Collective Agreement for the leather goods sector. There is also an anti-inflation automatism that provides for a fixed annual pay rise of 1.75%, with the possibility of reaching an overall increase of 3% based on individual performance. Production bonuses will come not only by assessing the brand’s financial results, but also through individual targets. Next: allowances for travel and overtime work will increase. With regard to welfare, there will be an increase in the fixed annual individual quota, which will rise from EUR 500 to EUR 600, with the possibility of reaching EUR 950 annually (source: Il Tirreno).
Attracting new talent
The new Integrative Contract is also to be interpreted, insiders say, with a view to significantly improving the offer to attract new talent. In a labour battle that is affecting the entire market, from small companies to big brands, everyone is trying not to let talented young people slip through their fingers and, at the same time, they want to attract new figures. Size of salary, bonuses, welfare, together with working environment and career possibilities are some of the most important criteria for choosing someone who wants to change jobs or make their first entry into the world of work.