Talent attraction, retention, development and training are covered by our Human Rights practice. The practice covers the following IROs: “Positive impacts on employees’ motivation and sense of belonging thanks to secure employment and working time, competitive remuneration, benefits, training opportunities and career development”, “Loss of knowledge and key skills due to high turnover or low development with negative indirect impacts on stakeholders (e.g. customers)”, “High and/or misplaced usage of external resources (consultants, temporary workers, staff leasing) that can also have critical competence and know-how, and deal with strategic projects”, “Increased responsiveness to market challenges by re-skilling and up-skilling employees (e.g. for full-electric vehicles)” and “Employee satisfaction & retention, including adequate wages, training and development of employees: attracting, retaining and developing the best talent through policies and practices related to employees as an opportunity for the company”.

The Human Rights Practice is in line with significant third parties initiatives, including: the International Bill on Human Rights, the United Nations Guiding Principles on Business and Human Rights and the UN Global Compact Ten Principles, the International Labour Organization’s (ILO) Declaration on Fundamental Principles and Rights at Work and Conventions, the Organization for Economic Co-operation and Development (OECD) Guidelines for Multinational Companies, the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas, and the Charter of Fundamental Rights of the European Union.

We aim to advance a just transition, able to secure workers’ rights and livelihoods when economies are shifting to low-carbon production. Internal data and the results of the survey conducted in 2023 did not show any impact on Ferrari own workforce faced from transition plans for reducing negative impacts on the environment and achieving greener and climate neutral operations. Nevertheless, the Green Sustainability Steering Committee has been tasked with managing the action plan to achieve Carbon Neutrality.

The Human Rights Practice officially entered into force in 2021 and it applies to the entire Ferrari Group, pursuant to local legislation. It was approved by the Ferrari Leadership Team (FLT), the most senior level accountable for the implementation of the practice, who plays a key role in overseeing its adequacy. The Human Rights Practice is in line with significant third parties initiatives, including: the International Bill on Human Rights, the United Nations Guiding Principles on Business and Human Rights and the UN Global Compact Ten Principles, the International Labour Organization’s (ILO) Declaration on Fundamental Principles and Rights at Work and Conventions, the Organization for Economic Co-operation and Development (OECD) Guidelines for Multinational Companies, the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas, and the Charter of Fundamental Rights of the European Union.

Since 2021, the “Formula Insieme” program is the main employee engagement activity, which aims to pursue the continuous development of Ferrari through a “plan, do, check, act” approach, starting from our employees’ opinions, gaining awareness of their points of view and identifying opportunities for continuous improvement. Every two years we carry out an internal performance survey of our employees on various topics related to the working environment, such as safety, change readiness, open culture and other areas linked to our relevant impacts.

Since 2021, the “Formula Insieme” program is the main employee engagement activity, which aims to pursue the continuous development of Ferrari through a “plan, do, check, act” approach, starting from our employees’ opinions, gaining awareness of their points of view and identifying opportunities for continuous improvement. Every two years we carry out an internal performance survey of our employees on various topics related to the working environment, such as safety, change readiness, open culture and other areas linked to our relevant impacts.

Since 2021, the “Formula Insieme” program is the main employee engagement activity, which aims to pursue the continuous development of Ferrari through a “plan, do, check, act” approach, starting from our employees’ opinions, gaining awareness of their points of view and identifying opportunities for continuous improvement. Every two years we carry out an internal performance survey of our employees on various topics related to the working environment, such as safety, change readiness, open culture and other areas linked to our relevant impacts.

Ferrari aims to respect, protect and promote human rights as laid down in the Human Rights Practice, which is inspired by the guiding principles set forth in the Code of Conduct. The practice covers impacts and risks such as the prohibition of child labor, compulsory labor and forced labor, human trafficking and serfdom, and the attention to a healthy and safe working environment. In 2024, according to our workforce, the Company identified two cases of discrimination and/or harassment leading to disciplinary actions, no cases of severe human rights incidents and no complaints about violations of human rights emerged from National Contact Points for OECD Multinational Enterprises.

Ferrari aims to respect, protect and promote human rights as laid down in the Human Rights Practice, which is inspired by the guiding principles set forth in the Code of Conduct. The practice covers impacts and risks such as the prohibition of child labor, compulsory labor and forced labor, human trafficking and serfdom, and the attention to a healthy and safe working environment. In 2024, according to our workforce, the Company identified two cases of discrimination and/or harassment leading to disciplinary actions, no cases of severe human rights incidents and no complaints about violations of human rights emerged from National Contact Points for OECD Multinational Enterprises.

Ferrari aims to respect, protect and promote human rights as laid down in the Human Rights Practice, which is inspired by the guiding principles set forth in the Code of Conduct. The practice covers impacts and risks such as the prohibition of child labor, compulsory labor and forced labor, human trafficking and serfdom, and the attention to a healthy and safe working environment. In 2024, according to our workforce, the Company identified two cases of discrimination and/or harassment leading to disciplinary actions, no cases of severe human rights incidents and no complaints about violations of human rights emerged from National Contact Points for OECD Multinational Enterprises.