Communication on Progress

2011 Communication on Progress

Participant
Format
  • Stand alone document – Basic COP Template
Self-assessment
  • Includes a CEO statement of continued support for the UN Global Compact and its ten principles
  • Description of actions or relevant policies related to Human Rights
  • Description of actions or relevant policies related to Labour
  • Description of actions or relevant policies related to Environment
  • Description of actions or relevant policies related to Anti-Corruption
  • Includes a measurement of outcomes
 
  • Statement of continued support by the Chief Executive Officer

  • Statement of the company's chief executive (CEO or equivalent) expressing continued support for the Global Compact and renewing the company's ongoing commitment to the initiative and its principles.

  • January 12, 2011

    To our stakeholders:

    I am pleased to confirm that Valley Fastener Group reaffirms its support of the Ten Priciples of the United Nations Global Compact in the areas of Human Rights, Labour, Environment and Anti-Corruption.

    In this annual Communication on Progress, we describe our actions to continually improve the integration of the Global Compact and its principles into our business strategy, culture and daily operations. We also commit to share this information with our stakeholders using our primary channels of cummunication

    Sincerely yours,

    Manny DeSantis
    President & CEO

Human Rights
  • Assessment, policy and goals

  • Description of the relevance of human rights for the company (i.e. human rights risk-assessment). Description of policies, public commitments and company goals on Human Rights.

  • Valley Fastener Group fully supports the Universal Declaration of Human Rights.

  • Implementation

  • Description of concrete actions to implement Human Rights policies, address Human Rights risks and respond to Human Rights violations.

  • Valley Fastener has an open door policy which is in the employee handbook. We utilize a suggestion box to report incidents or issues anonymously (if needed). Through Human Resources, we have an EEOC and harassment policy that clarifies VFG’s position.

  • Measurement of outcomes

  • Description of how the company monitors and evaluates performance.

  • VFG monitors the suggestion box and spends thousand of dollars annually in ergonomic and environmental issues to improve the quality of life at the workplace. VFG has had no incidents of human rights violations, both internal and external in its 10 year history.

Labour
  • Assessment, policy and goals

  • Description of the relevance of labour rights for the company (i.e. labour rights-related risks and opportunities). Description of written policies, public commitments and company goals on labour rights.

  • VFG’s policy is to not discriminate based on any factors including, but not limited to; race, creed, religion, sexual orientation, age, gender, etc. We offer our employees a wide range of benefits that exceed most of our competitors.

  • Implementation

  • Description of concrete actions taken by the company to implement labour policies, address labour risks and respond to labour violations.

  • We utilize a suggestion box and have policies in place regarding, harassment, discrimination, open door policy (that is frequently used), performance appraisals, ethics, etc.

  • Measurement of outcomes

  • Description of how the company monitors and evaluates performance.

  • The diversity of our workforce has evolved over the past 10 years. We have managers and supervisors from different countries and backgrounds. Our human resource group manages this and has independence in the decision making process.

Environment
  • Assessment, policy and goals

  • Description of the relevance of environmental protection for the company (i.e. environmental risks and opportunities). Description of policies, public commitments and company goals on environmental protection.

  • We reviewed the use of paper products, hand towels and copier paper. We also reviewed machine oils and smoke in the manufacturing process.

  • Implementation

  • Description of concrete actions to implement environmental policies, address environmental risks and respond to environmental incidents.

  • We reduced paper consumption by installing hand dryers in the restrooms; we print only when needed, use thinner weight oil in manufacturing resulting in 25% less usage with an easier clean up and added smoke removal units in the operation.

  • Measurement of outcomes

  • Description of how the company monitors and evaluates environmental performance.

  • Senior management approves capital purchases based on the following; environmental impact, cost savings, quality enhancements and productivity improvements. VFG has a safety committee in place with an excellent record due to employee empowerment and participation.

Anti-Corruption
  • Assessment, policy and goals

  • Description of the relevance of anti-corruption for the company (i.e. anti-corruption risk-assessment). Description of policies, public commitments and company goals on anti-corruption.

  • VFG has a business ethics policy that is communicated to all employees.

  • Implementation

  • Description of concrete actions to implement anti-corruption policies, address anti-corruption risks and respond to incidents.

  • Although our company is small, we constantly reinforce our anti-corruption policy. We believe good fair competition is paramount to continuous improvement.

  • Measurement of outcomes

  • Description of how the company monitors and evaluates anti-corruption performance.

  • We monitor and justify expenses and have no incidents of corruption.