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The Organizational Strategy and Management of Esprit

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Esprit structures its remuneration packages around performance, taking into account business performance, market practices, and competitive market conditions. Share options and discretionary bonuses are granted to outstanding staff. There is also an annual performance and salary review system to ensure staff members are rewarded on a clear and fair basis (Esprit AR, 2004-05). Responsibilities to Business Partners At Esprit, the aim is to develop and nurture long-term relationships with business partners based primarily on openness, honesty, and trust. Esprit always makes concerted efforts to understand their business needs and provides mutual support to ensure that sustainable business partnerships are established.

This ensures that the conduct of the business is in a responsible and suitable manner. Esprit conducts regular social audits to ascertain if its suppliers maintained and abided by these standards. Esprit has enrolled as a member of the Business Social Compliance Initiative (BSCI) established by the Foreign Trade Association (FTA) in the year 2004-05 and has communicated to its vendors the significance of BSCI certifications as the appropriate accreditation to signify their compliance with human rights and minimum social standards (Esprit AR, 2004-05).

Responsibilities to the Community Esprit and its employees, having numerous global presences, respond responsibly and with pride to community needs by making contributions in the form of grants, donations in kind and volunteering activities. During the financial year 2004-05, Esprit employees responded enthusiastically to a number of relief initiatives organized by charitable organizations. These included the participation of Hong Kong staff in “ Walks for a Million” organized by the Community Chest, ribbons selling in stores to raise funds for the National Breast Cancer Foundation and financial support to charitable organizations.

In response to the South Asian tsunami, Esprit launched a global fundraising campaign during FY2004/2005 calling for employee donations to help victims affected by the disaster.

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