BOC Report and accounts 2005 - Alle jaarverslagen

Employees 25
Retirement benefit plans
BOC considers it important that its people provide for their retirement and fully supports their efforts in this
regard.Around the world, the Group provides opportunities for people to participate in retirement programmes
tailored to suit local conditions. Just as importantly, the board’s pensions committee takes prudent steps to monitor
and control Group-wide retirement benefit plans with local managers being responsible for safeguarding the
security of each retirement plan that they sponsor.
The financial position of the Group’s main pension funds is detailed in note 8 to the financial statements.
Diversity
BOC believes that diversity is a key driver of future organisational and operating effectiveness.As one of the UK’s
few truly global companies, BOC highly values the rich diversity of its people.While the Group consistently
champions a set of unifying values and principles, they are not imposed regardless of local sensibilities. Rather, the
Group strives to build on the qualities inherent in its global environment by encouraging people with different
views, styles and approaches.Wherever in the world it operates, BOC is committed to maintaining a workplace
free from discrimination for reasons of race, creed, culture, nationality, religion, gender, sexual orientation, age or
marital status.The success of its diversity programme is monitored and reported regularly.
Disability is not considered a barrier to employment and, as far as local conditions allow, employees are
selected on the basis of their ability to perform the job. Further necessary training is arranged, taking account of
their particular needs and the resources required to meet them.
Employee share schemes
Many BOC employees in the UK and some other countries have built up an equity interest in the Group’s business
through employee share schemes. Options may be granted at a discount to the market price at the date of grant.
The term of options granted could be from three to seven years and any option is conditional on a commitment
by the individual to make regular savings from pay that are then held by an independent organisation to purchase
shares at the end of the option period.The exercise of options under these schemes can be satisfied by the issue of
new shares or the transfer of existing shares.