Company Assignment Example | Topics and Well Written Essays - 500 words

Company - Assignment Example The company operates in countries that average 37 and employs 28,400 workers directly as of mid-2013. 65% of these are in Europe, 26% is based in Asia, while 95 is based in the Americas (Düblin 8). Most employees in Europe work in Germany, France, and Switzerland. Richemont reported revenues of â‚ ¬10.150 billion in 2013, which was up from â‚ ¬8.868 billion the previous year (Düblin 10). Some strengths of the company include its high position of 6th in the Swiss Market Index, being the 2nd largest luxury goods company, and its large employee base, while it also encompasses several world-renown luxury brands like Piaget and Cartier among others. Its biggest weakness is that it has limited presence in emerging economies. Richemont’s HR brand is one of the most respected in the world, especially with regards to its highly trained staff, highly competitive remuneration packages, and its family culture. The main responsibilities of their group HR function are to develop processes, establish policies, and offer strategic direction to constituent brands’ HR functions with regards to best practices in HR management (Düblin 22). The main clients for the group HR are its brand HR teams. The HR’s plans, strategies, and direction were influenced by the 2009 financial crisis, especially with regards to restrictions on recruitment. This led them to focus on effectiveness and quality, while also shifting their focus from an approach solely based on skills to one also based on personality with regards to ambition, attitude, willingness to learn, and ability to learn (Düblin 23). This was to ensure that employees could fit into the Richemont family culture. Fitting employees into this culture also requires that Richemont find a balance between locals and expats for its overseas offices. This also ensures that their HR function embraces diversity in their work culture. This fit into