recruitment and selection process, management development and performance appraisal has a significant effect on the international reward and compensation packages a company is offering to the expatriates. Therefore, international HR management should take it as a challenge to avoid possible weak points in its international reward and compensation packages.
To avoid legal issues in other countries, the company should exert an effort to make sure that its international HR management group will comply with the labour laws in its five major business group. Basically, the role and responsibility of international HR management does not end in sending out expatriates on international assignment, this group of individuals should also develop and implement competitive repatriation packages to prolong the long-term benefits of LVMH’s increasing number of expatriates.
Established in 1971, LVMH expanded its business to become the leading luxury brand conglomerate in the world. As a successful aggregate confederacy of brands, LVMH is now composed of 50 companies that are directly managing 450 subsidiaries in the world market (p. 319). Handling its subsidiaries, each of the 50 companies is composed of a President and Executive Committee monitors the business activities of each subsidiary. Although LVMH acknowledges the importance of being multi-cultural when managing its businesses all over the world, LVMH’s human resource department is encountering challenges related to the company’s existing career development strategies due to lack of international experience.
Employing a total of 56,000 employees in different countries, the HR department of LVMH is challenged to attract, develop and retain competitive managers with global competence by improving the company’s HR strategies related to career development and international mobility options. Engaged by the Corporate Head Quarters as a Principal Consultant with McStrategy Consulting expertise, a literature-based ...
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(International Personnel and Development Essay Example | Topics and Well Written Essays - 3000 Words)
“International Personnel and Development Essay Example | Topics and Well Written Essays - 3000 Words”, n.d. https://studentshare.net/miscellaneous/400869-international-personnel-and-development.
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