Louis Vuitton 2009 Annual Report Download - page 60

Supporting career development in a dynamic
environment
The LVMH ecosystem offers a management framework that is parti-
cularly focused on career development. The Group’s size and scope
allows for a wide variety of career routes, via its broad range of
sectors, business areas, brands and Houses, and geographical sites.
Thanks to its internal mobility, LVMH Managers progress to take on
new responsibilities, grow their professional skills and broaden their
personalities. To facilitate this mobility inside the Group, systematic
and frequent reviews are conducted to see what posts are available
and who may want to grow into them. To do this, monthly and fort-
nightly committees at all levels of the organization work to optimize
the allocation of managerial resources.
Training is another powerful lever in career building to acquire and
deepen new skills and promote skills transfer inside and outside the
Group. In this respect, the LVMH House Forums in London are a
unique way of pooling the Group’s expertise in brand management,
creativity, product innovation and customer relations in the luxury in-
dustry. In recent months, the emphasis has been on developing lea-
dership qualities. To better reflect the Group’s international diversity,
the LVMH House Forums will now be replicated in the United States
and Asia. A number of integration sessions organized by the Group
will also be offered to new staff in the country or region where they
joined. In 2009, the Group launched a new international integration
session for high-potential managers that also involved LVMH managers
and design directors. In addition, Group staff continue to be offered a
broad range of training, both internal and external, to develop their
management skills. Thus, in 2009, more than 1,800 managers took
part in in-house training sessions and seminars offered by the Group's
four main training centers in France, Asia, Japan and the United States.
In 2009, LVMH gave a new boost to its High Potentials program,
called the "FuturA Initiative", recruiting some 90 people worldwide ba-
sed on their potential to take on a managerial role in the medium
term. These profiles were identified and selected at "Recruitment
Days" using the most objective assessment techniques possible, based
on role play. These managers will be integrated carefully so that – joi-
ning high-potential managers already identified in the Group – they
will benefit from missions to highlight and make them shine at LVMH.
LVMH is thus constantly working to build up a pool of top-quality
talent, diversified in terms of nationality, gender and skills, to be to-
morrow’s managers.
Enabling our staff to share in our success
The Group’s Houses constantly try to offer attractive and motivating
salaries. International salary surveys involving specific trades and
business sectors show that we are always well positioned in terms of
the market. Most of LVMH's French companies offer their staff subs-
tantial profit-sharing or incentive schemes. Managers are closely lin-
ked with the success of their particular mission via Group and indivi-
dual variable performance-linked bonuses. In 2009, LVMH allocated
stock options and bonus shares to reward its most effective people.
PASSIONATE ABOUT CREATIVITY
SUSTAINABLE DEVELOPMENT - HUMAN RESOURCES