Social dialogue

AXA is committed to uphold the right to freedom of association and collective bargaining. Indeed, effective labour-management communications and social dialogue is a lever to enhance the Group’s financial performance and pave the way for the stability needed to implement the Group's development strategy.

AXA has set up a European Works Council (EWC), whose role goes beyond the regulatory requirements in force. The EWC is made up of staff representatives from AXA's largest European subsidiaries, who meet in order to receive and exchange information on the social, strategic and economic issues that concern the Group, and maintain an on-going dialog between employees and management. These relations are framed by a specific Group EWC agreement. AXA holds two plenary meetings a year, in combination with a preparatory and post-plenary session systematically held for debriefing. These plenary meetings are attended by AXA's CEO. Moreover, the EWC's bureau meets monthly. Up to 50 employee representatives may be present in the EWC, which leads smaller affiliates to be adequately represented.

The introductory section of the Group EWC agreement is based on a number of international benchmark documents, such as the UN Declaration of Human Rights and the International Labour Organization's standards, as well as AXA's own set of core values and commitments. The agreement's appendix also contains certain recommendations in case of restructuring.

52% of the Group’s employees are covered by the European Works Council’s framework and other social dialogue agreements.   The latests are not monitored at Group level. More generally, beyond Europe, the Group strives to ensure that employees are fairly represented in all major countries where it is present. In addition to the EWC's work, numerous collective bargaining agreements are signed on a local basis.

The conduct of Group Transformation

The Group EWC agreement provides a certain number of commitments to employees in the event of major organizational changes with impacts on jobs. AXA has developed social guidelines and view to support its various European entities in their local management.

AXA maintains continuous discussions with employee representative bodies, from the European Works Council to local union groups and has ensured a high- quality social dialogue. The Healthy You program was reflected in a Charter signed by the European Works Council and AXA Group.

In an uncertain environment, this strong signal shows the dynamism of the social relations within AXA's EWC, with the aim of finding alternative solutions and refusing to accept things as inevitable.