The recruitment, selection and training methods of LVMH Essay

The recruitment, selection and training methods of LVMH - Essay Example 1.1. BACKGROUND OF THE STUDY Importance of human resource management is gaining increased acceptance with every passing day. Main factors working behind this increased importance is acceptance of the cost associated with human resource while the most important being the level of competence of human resource that drives business across road of success. Human resource management function is a continuous process and can be divided into two broad domains of pre-employment and post employment functions. Former category can be declared to addressing the factors that are concerned with candidate and employee dealing before one assumes job responsibilities in full whereas the latter one constitutes with employee management in stage next to assuming the job. However, training remains part of both categories. Recruitment, selection and training are among the most important part of the human resource function. These functions are endorsed with additional responsibility as they incur costs for g reater pool and benefit is to be reaped for organization from selected ones only. Hence, the procedures employed are required to be most efficient and effective in order to attain cost minimization as well as benefit maximization for the organizations. LVMH, acronym for Moet Hennessy - Louis Vuitton, has 100,000 employees worldwide and approximately 70% of mentioned number is outside the land of origin (France) (LVMH, n.d.); hence, diverse employee base characterizes the LVMS. In order to take entire diverse employees on shared platform of commitment to shared values of LVMH, LVMH has to undertake into consideration the large number of factors in recruitment, selection as well as in training process. Moreover, despite the slow growth of world economy that has affected the consumption trends showing shift in the overall buying behavior with increased price sensitivity; LVMH has managed to increase the revenues by 19% with 9% organic growth (LVMH, 2012) and each business group is movi ng in positive direction with net revenue for the 2012 increased by approximately 12% (LVMH, 2012) as compared to 2011. These factors also refer the success of HRM function centrally that provided business with employees competent enough to successful employ the strategic vision of the LVMH. Hence, these distinguishing factors form the basis for exploration of the recruitment, selection and training factors in context of LVMH. 1.2. STATEMENT OF THE PROBLEM The project entitled â€Å"The recruitment, Selection and Training for LVMH† as the name implies is intended to explore the mentioned HR functions of the LVMH. Project will develop assessment of the programs and procedures pertaining to recruitment, selection and training of employees at LVMH. The going over of procedures that result in the proficient employee base for the LVMS will offer much insight to organization. 1.3. STATEMENT OF PURPOSE The purpose of the underlying study is examination of the mentioned functions of the human resource at LVMH. This study will fulfill the purpose of highlighting the procedures adopted at large conglomerates such as LVMH for developing employee base paving way for the success and growth of organization. Hence, the project has rationale of the study to explore the best practices that can serve other organization striving to develop the capital (employee)