Project - ALL Heartist Fund

Company

Category

Investor in Human Capital and Working Conditions

Project description

Project Aim

The fund is essentially here to help people. The purpose of the project is to provide financial assistance: - To cover COVID-19 treatment if employees can’t afford it. - Financial distress due to an impactful income reduction resulting from the current Covid-19 unemployment, including nutritional, health, safety, educational.

Project Target Group

+300,000 HEARTISTS Individuals employed currently in a hotel owned, managed or franchised by Accor; or otherwise employed by an Accor controlled entity.

Project Duration

A long-term support goal. Accor wants to be present until the end of this year, but also until 2021, in order to accompany and support Heartists affected by the crisis. April 2nd, 2020, Accor announced its decision to allocate €280m planned dividend to the creation of the ALL Heartist Fund, a €70m-fund devoted to help Group employees and individual partners affected by the Covid-19 crisis.

Project Activities

The fund is essentially here to help people. The purpose of the project is to provide financial assistance: - To cover COVID-19 treatment if employees can’t afford it. - Financial distress due to an impactful income reduction resulting from the current Covid-19 unemployment, including nutritional, health, safety, educational. All non-managerial positions were compensated by 50-70& of their monthly salaries. The salaries of all hotel employees were significantly decreased in June 2020 for 1 month. Some employees were reimbursed for COVID-19 medical related expenses. Possible 2nd wave of financing in 2021, based of COVID-19 situation.

Project Results

The Fund has been fully operational from April and several million euros have already been engaged and paid to date, mainly for the case-by-case support of our employees with more than 20,000 beneficiaries. The salaries of all hotel employees were significantly decreased in June 2020 for 1 month. Some employees were reimbursed for COVID-19 medical related expenses. Possible 2nd wave of financing in 2021, based of COVID-19 situation.