Louis Vuitton 2008 Annual Report Download - page 60

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LVMH010_2008_GB:Mise en page 1 24/03/09 11:14 Page 61
Finally, LVMH House, created in London in 1999 and dedicated to the
development of senior executives, benefited from new momentum in 2008
with record participation of 360 people in 16 Forums. The mission of this
center, an opportunity for sharing and discussion, is to bring together
managers from around the world and offer them forums focusing on stra-
tegic issues such as leadership, building luxury brands, knowledge of luxury
customers, innovation and creativity.
Involving employees in success
In addition to the special appeal of LVMH and the prospects for open careers,
the policy of the Group's companies is to offer compensation that compares
favorably with the market. In order to maintain this positioning, salary surveys
are conducted every year with specific analyses, as needed, on the situation
of certain businesses or sectors in local or regional markets.
Most of the Group Houses in France pay all their personnel substantial
profit-sharing and incentives that are significantly higher than the market
average.
Variable compensation portions are established for managers, which tie a
portion of their compensation to their performance and the performance
of the Group.
In 2008, in order to retain its highest-performing contributors, LVMH conti-
nued a program of Stock Options and bonus share allotments.
Prestigious forums
Several new initiatives took place in 2008, evidence of the desire
to form a true “learning organization.”
LVMH House launched two new Forums on strategic questions at
the very center of the challenges facing the Group: first, Luxury
Consumers, or how to get to know the customer better in order
to serve him or her better? Second, Leadership, or what human
and managerial qualities are required to lead?
A conference was organized in October 2008, the first of a cycle
titled "LVMH eyes on the world", during which Professor Stéphane
Garelli, the former executive director of the Davos World Economic
Forum, professor at the University of Lausanne HEC Business School
and the Lausanne IMD Business School, spoke to Group managers
on the theme: “Competitiveness in the World Today and Tomorrow”.
58