Lincoln Electric proudly operates under the guiding principle fostered over 120 years ago by our founders, The Golden Rule: Treating others as you would like to be treated.
Our purpose at Lincoln Electric is to operate by a higher standard to build a better world. We leverage our guiding principle, our values, and our core strengths to design and manufacture safe, innovative and efficient products that guarantee measurable value for our customers.
We foster diversity and inclusion and maintain a performance-based incentive management system that rewards employees for their achievements. Our values define how we operate—prioritizing integrity, safety, efficiency, sustainability and an unyielding commitment to continuous improvement. We believe our approach improves the lives of our customers, employees, and communities and has ultimately generated long-term success and value for all of our stakeholders.
Our long-term "2020 Vision & Strategy" focuses on generating value—through innovation, operational excellence, best-in-class financial performance and greater sustainability in our business. Our strategy integrates both financial and environmental long-term goals, which I oversee and are incorporated into my annual executive performance review.
As we exit our ten-year strategy, we are performing well across our financial targets and are exceeding most of our safety and environmental goals. We are continuing to advance our strategic focus in our new Higher Standard 2025 Strategy and have established new 2025 environmental goals to ensure that we continue to operate to a higher standard in the years ahead.
The following policies, business practices and initiatives are highlighted in our sustainability site:
- Our Code of Conduct and how we comply with our principles and local laws to guide the actions of our employees and in our Supplier Code of Conduct which outlines our expectations of suppliers;
- Health, safety and wellness of our employees, customers and communities;
- Policies and practices that respect the dignity of all workers as outlined in our Human Rights Policy;
- Equal employment opportunities and our pledge to treat employees fairly, with dignity, and without discrimination in any form;
- Improved environmental performance, including resource conservation and waste prevention to reduce our environmental impact;
- Training and development programs to attract and retain high performing employees and help them reach their full potential; and
- Making a positive impact in manufacturing and industry by promoting the art and science of welding among students and young professionals, as well as in our communities where we live and work through philanthropy and community engagement.
Sustainability and continuous improvement are a journey. I am proud of our commitment and progress in both areas, and how our values resonate so personally among employees. In a recent global employee survey, our organization overwhelmingly indicated that we truly live our values, with "integrity," "safety" and "teamwork" ranked as our key internal strengths. This gives us a tremendous foundation to continue to build upon as we partner to make a positive impact in our world.
I encourage you to learn more about our values, our culture and the initiatives that define our global organization and long-term success. Thank you for your interest in Lincoln Electric.
Chairman, CEO & President