At Franklin Electric, we strive to achieve market and financial success, guided by our core values and focus on our Key Factors for Success – Quality, Availability, Service, Innovation, Cost. We do this not solely because it is good business, but because it is the right thing for our customers, employees, shareholders, and business partners. Our business reaches communities around the world. We directly employ more than 5,000 people in our global locations, and touch the lives of millions of end-users of our products. We thoughtfully consider and continuously recognize the impact we make on the people of these communities and on the environment.
Our vision is to be an indispensable partner to our customers by consistently delivering products of the highest quality available in the market, providing training that reflects the importance of the safety of our customers and end-users and that protects the environment, and developing innovative products that deliver unparalleled performance and support sustainable energy sources. Our goal is to accomplish these objectives in ways that deliver value to our customers and shareholders.
Health, Safety, and the Environment
Through our innovative product designs, we blend the product performance our customers demand with critical safety features and proven energy efficiency that promotes a lower total cost of ownership. We dedicate significant resources to research and development, focusing on improvements to the efficiency of our products, all of which ease the reliance on fossil fuels. For example, our investment in innovation produced our solar-powered Fhoton™ Drive, which provides a high-quality, sustainable solution for agricultural and commercial markets. In July 2017, it was announced that our Fhoton™ SolarPAK System would be installed on Star Island, the world’s first-of-its-kind, off-grid sustainable island destination, providing the island with its water needs.
Clean and readily available groundwater is vital to the health and well-being of much of the world’s population, and the success of our water systems business is inextricably linked to this necessity. Pollution of groundwater aquifers represents a clear danger to human health, the environment, and our business. We therefore do our part, by lowering our own environmental impact by mandating clean, sustainable manufacturing and distribution processes, and by designing products that themselves protect against environmental damage.
Our fueling business pioneered advances in petroleum piping and containment systems, electronic leak detection and overfill protection, all of which make it possible for providers to safely keep up with the world’s liquid fuel needs. Through our FFS PRO: University program, we provide the industry’s premier training for petroleum equipment installation professionals. We focus not only on training and certification, but we also aim to serve as the industry leader in fueling system safety and continued learning. FFS PRO: University takes a system approach to training, giving installers a complete view of a fueling system and a more comprehensive understanding of how one system component affects another – with the goal of eliminating installation errors which could negatively impact the environment.
Commitment to Our Sustainable Groundwater Practices
Franklin Electric is a supporting member of the Water Systems Council, an organization that encourages the sustainable design and use of wells. We work through the Water Systems Council to address policy issues which promote sensible regulations for small water systems development and to support a sustainable approach to groundwater and source water management.
Commitment to Our Employees
Franklin Electric is committed to protecting the health and safety of our employees, customers and end users. We actively promote a GOAL ZERO culture in which we continually train employees on health and safety best practices with the goal of zero work-related injuries.
The well-being of our employees is vital to our continued success. We seek opportunities to promote safe work environments for employees in every job, and support their health by offering competitive health insurance benefits and promoting wellness programs. Employees are also encouraged to continue their education through company-sponsored tuition assistance programs.
Commitment to Ethical Business Practices
Franklin Electric’s Code of Conduct applies equally to all employees and our Board of Directors. The Code of Conduct provides guidance for ethical decision-making and outlines our responsibility to abide by the law. The Code of Conduct touches on many topics and is enhanced by separate policies we require employees to acknowledge, including policies covering Anti-Bribery and Anti-Corruption, Environmental Matters, and Anti-Discrimination policies.
In addition, we expect our suppliers to acknowledge a Supplier Code of Conduct which prohibits bribery, corruption, and forced labor, and requires suppliers to abide local health, safety, and environmental standards.
- See Code of Conduct: franklin-electric.com/company/governance
Commitment to Our Communities
Franklin Electric contributes collectively to non-profit organizations that are primarily located in communities where we have a business presence. Through the Franklin Electric Charitable and Educational Foundation, we support organizations such as the United Way, the Boys & Girls Club, Big Brothers/Big Sisters, and many others. We also encourage employee giving and in many cases will provide a company match for causes with which our employees are involved.
A scholarship program was instituted in 1967 to aid qualified children of Franklin employees who are seeking a college education. Through its Foundation, Franklin Electric Charitable and Educational Foundation awards four to five scholarships annually to college-bound high school seniors who have demonstrated outstanding scholastic ability and strength of character.
Franklin Wells for the World Foundation
Nearly one billion people in the world do not have access to safe, clean drinking water. Approximately 47,000 people die each week from water-related illnesses; 90% of those deaths are children under five. Through our Franklin Wells for the World Foundation (FWWF), our mission is to provide safe, reliable, and cost-effective water supplies to suffering communities. Since 2010 FWWF has made a difference in the lives of over 100,000 people by installing wells to provide dependable access to clean water. Franklin Electric is committed to providing funds and leveraging our innovative products and technical expertise to help end this water crisis. For more information and to view the FWWF installations, visit the link below.
Franklin Electric is dedicated to maintaining the trust of our customers, employees, shareholders and members of the concerned public, and strongly believes in continually improving our processes. That is why we maintain an anonymous Ethics and Integrity Hotline, where individuals can report any perceived lapses in governance, internal controls, or other business conduct. We welcome commentary and suggestions. Please see our website for details.
- Ethics and Integrity Hotline: ethics.fele.com