 Cafeteria.jpg)
Working Conditions
Wages & Benefits
Gildan has developed and implemented a competitive compensation structure that helps in attracting, motivating and retaining the best talent in each of the countries in which we operate.
In particular in Central America and the Caribbean Basin, Gildan is proud of its record in creating well-paying jobs with attractive benefits, such as access to free medical assistance; subsidized transportation to and from work; and subsidized meals. We also empower workers by providing them with the opportunity to upgrade their skill sets and education level. The majority of our permanent production employees earn significantly more than the legally-mandated minimum industry wages in all the countries where we operate. This has had a direct and positive impact on the quality of life of our workers and their families.
Gildan also offers incentives above basic salaries to employees who exceed certain objectives. These bonuses which represent compensation over and above their basic wages, reward workers whose performance is above average, similar to the model found in many North American companies.
Minimum Wages in Latin America
Countries in Latin America typically have various categories for the application of minimum wage compensation. The legally-mandated minimum wage in most of Latin America countries will vary depending on the industry sector. The various industry sectors include agriculture, services, industrial, banking and textile sectors.
Most countries have a minimum wage that applies for the textile industry. Wages in the manufacturing or industrial sectors can be used to compare with salaries in the textile industry as they relate to similar activities.
-
Rewarding Employee Dedication and Performance
Performance Appraisal
Gildan has established a performance appraisal process for indirect salaried employees, which assesses employee performance using both objectives and competencies. Indirect hourly employees also participate in a site-specific performance review process, where criteria are more specifically related to production performance.Short-Term Incentive Plan
Indirect employees are eligible for a short-term incentive plan. The plan provides annual bonuses when the Company’s key financial profitability and growth objectives are met. The plan also recognizes individual and team efforts towards achieving superior financial results.Long-Term Incentive Plan
The Long-Term Incentive Plan (LTIP) was first implemented in 1998 for the granting of stock options and was subsequently amended to, among other reasons, allow for the Board of Directors to grant Treasury RSUs and Non-Treasury RSUs, to officers and key employees of the Company and its subsidiaries. The primary objective of the LTIP is to encourage individuals to work towards, and participate in, the growth and development of the Company and to assist the Company in attracting, retaining and motivating its officers and key employees. The LTIP is administered by the Board of Directors, which has delegated the LTIP responsibilities to the Compensation and Human Resources Committee.Read more about our Long-Term Incentive Plan in the Management Proxy Circular.