The Recruitment, Selection and Training Methods of LVMH - Research Paper Example

?CHAPTER III: METHODOLOGY THE RECRUITMENT, SELECTION AND TRAINING METHODS OF LVMH 3.0 Introduction Research methodology forms the most important component of the research as it provides road map in conducting research. The research methodology is to scientifically define the methods used by the researcher to conduct the research. Research methodology acts as a road map for particular research as it defines all the activities that the researcher needs to conduct for successfully achieving the objective of the study (Sekaran, 2006). Hence, for the purpose, the underlying chapter provides details pertaining to the research purpose, question to be addressed, data collections techniques, instruments and procedures etc of the underlying research. Given below is the systematically defined roadmap for underlying research in order to achieve objective of the research. 3.1 Purpose of Study Human resource management has growingly taken the strategic position in the business management and now organizations have realized the importance of managing human resource strategically. Since realization of fact that human resource is the most important capital asset all scale businesses have started to develop mechanism that ensure increased efficiency in business operations. Further, for developing such mechanism most of the businesses try to replicate mechanism employed at other businesses that have gained success across the board. Hence, the purpose of the research is to explore the human resource management of LVMHs that has gained success as an international organization. More specifically, the research explores the recruitment, selection and training section of the human resource management functions of LVMH. LVMH has 100,000 employed with 80% of the employees working for organization outside the country of origin, France. With such business model, the business has successfully managed the diverse employee base across various countries. Hence, exploring the mentioned functions of LVMH will fulfill the purpose of research of identifying the recruitment, selection and training procedure employed at LVMH. With assessment of the processes the research also fulfills the purpose of aligning information pertaining to the success of LVMH presented in financial statement as well as form K. The other purpose that has been fulfilled by the research in this study is the presentation of recruitment, selection and training procedure for the businesses that intend to replicate the human resource model of successful organization to respective organizations. In addition to the above purposes that would benefit businesses on practical aspects, the research is aimed to contribute to the academic literature the assessment of certain human resource function of internationally successful organization. As stated the purpose of the above research is to explore information about the organization; hence, the understudy research is regarded to be exploratory research. 3.1.1 Research Question The research question is concisely presenting the objectives of the study. Defining research question the researcher develops postulates that are to be specifically addressed by the research (Patton, 1980). Since every domain of study has its own expansions; therefore, developing research question facilitates the researcher with defining scope of the research to be addressed. With these factors, the researcher in the research presents specified set of questions that study intends to explore. Hence, the research question that underlying research, entitled Recruitment, Selection and Training of LVMH, is aimed to address includes following: What methodologies are adopted at LVMS for developing the candidate base under recruitment? What are the selection techniques employed at LVMH for short listing and then selecting the candidate for the particular job? What training methodologies are employed at LVMH to align the new employees on the same frequency of other employees? It further aims to explore the training methodologies for overall employee base for improving the performance of employees? Does business have centralized recruitment, training and selection methodologies or if these methodologies have adaptability with respect to location? How effective recruitment, selection and training have been benefitted the business financially? What is the level of alignment between the company human resource functions of recruitment, training and selection with respect to models and theories presented in academic literature? 3.1.2 Hypothesis Working Hypotheses are defined as tentative assumptions that are developed after developing the conceptual background based on the literature review. The hypothesis being tentative assumptions are developed to test the logical and empirical results of the variables or relation tested or explored in the study (Kothari, 2009). As research questions have determined the broader scope of the study; hypothesis is narrowing down specification that keeps the research on specifically defined relation to be tested or aspect to be explored (Kumar, 2010). Based on the stated facts, the researcher has developed given below hypothesis for the study: H0: The recruitment, selection and training methods adapted by LVMH have benefitted the company to be successful. H1: The recruitment, selection and training methods adapted by LVMH have not benefitted the company to be successful. 3.1.3 Research Problem The research problems are the comprehensive yet concise information that provides identification for the areas of study. More specifically, the research problem is determination of the boundaries of the research with nexus to be maintained around the pre-determined research objectives. Defining a research problem involves developing the general details about the topic of the study. Upon identification of the generalized form; the research problem adheres to the understanding the essence as well as importance of the matter selected for study. It also requires developing reference from literature in order to define the discussion for the study. Hence, upon identification and development of research problem the researcher forms the broad outline of the format of the study. The research problem of understudy objective is to explore the recruitment, training and selection of the procedures that enable organization to develop employee base that take organization to the roads of success. Immense literature has been developed on the recruitment, selection and training subject in the academic literature identifying the importance of each phase as well as contribution of each phase’ success on the following phases. As noted in initial chapters that process of joining an organization and being part of it are based on complete cycle as given below; businesses are required to develop in depth exploration of factors that affect the aforementioned cycle: Further, each of the identified process are connected to other factors while factors’ also having its own delineations; therefore, it is important to note and explore the procedures that successful organizations’ employ for meeting the challenges of such factors. For instance, the recruitment procedure is affected by number of internal and external factors such as developing pool of candidates that is highly competent or extensively wide makes it difficult to shortlist the candidate for particular vacancy. Furthermore, any flaw in recruited pool will have impact on the following stages of selection as the selection has to be done from shortlisted candidates’ pool only. Similarly, the effect passes on the further stages. The incremental impact of the efforts are since reflected in the financial statement as cost therefore human resource department are required to develop procedures that is aligned with minimum cost and maximum efficiency formula. Companies are often caught stuck in excessive turnover having negative impact on their profitability while on the other hand there are numerous examples that have maintained focus on building competent human resource at initial stage by incurring cost and then reap the benefits in the long run. With importance identified, the research hence develops the focal point of study to explore the mechanism employed at LVMH that has ascertained success not only in local market but also in international market as well. 3.2 Instrument The instrument adopted for collecting the secondary information about the firm is the financial statements and form K of LVMH. On other hand, instrument employed for collecting primary information has been questionnaire. The rationale for adopting the questionnaire instrument has been the fact that questionnaire is considered the central and core instrument in collecting the information in survey based research. The questionnaire will be based on structured questions to be presented to participants for information submission. Broadly the questionnaire will have questions related to three areas of human resources practices at LVMH. Closed ended questions will be developed in order to gather concise information and that can easily be transformed using likert scale for statistical technique application. As the study has to explore three areas of human resource functions therefore each section will be assigned equal number of question to develop the balanced questionnaire and hence information base. 3.3 The Research Site The research site refers to an important domain of the research mainly for the reason that researcher aims to collect primary data for the study. The site selected for the assessing the recruitment, selection and training methodologies adopted at LVMHS are the chain shops where LVMH invest such as Dior, Louis Vuitton etc. Considering the resource constraint, the researcher has planned to select mentioned shops from location of Sheraton Mall and Moda Mall located in Manama, Bahrain only. 3.3.1 Population The population refers to entire set of objects or people that have a direct link with research question understudy. Therefore, the population of developing assessment of recruitments, selection and training methodologies adopted at LVMH is the entire employee base of the LVMH. However, since the business has footings on international level and hence expanded employee base developing assessment based on the population’s responses are constrained with resource limitations. 3.3.2 Sample Sample is a set of objects that is derived from population with assumption that set derived is a true representative of the entire population. Constraint by resources the researcher has taken sample of minimum 30 employees working at the chain stores of Dior, Louis Vuitton etc where LVMHS invests in Sheraton Mall and Moda Mall located in Manama, Bahrain. 3.3.3 Data Collection The data collection is the next step in line for the research study once the research details and sample has been identified followed by questionnaire development. In accordance with the chalked out plan, the researcher will develop the data from two broad sources. First, the secondary sources while the second being the primary source. Therefore the researcher has used both the primary and secondary data to analyze the collected data and thus it would be helpful in analyzing and comparing it what other scholars and researchers have said (Cavana, Delahaye, & Sekaran, 2000). 3.3.3.1- Data Collection secondary sources The data collection from secondary sources refer to the data that already been collected by some other researcher and the current shape of presentation has been passed through certain stage of statistical assessment. Hence, the information provided from such data does not carry the element of crudeness. Further, since not being first hand information the data is expected to exclude certain information that can be considered relevant as well crucial for the study. On the other hand, the secondary data also provides the comprehensive results pertaining to the specific studies. Hence, employing the secondary data, the researcher will develop in depth understanding of the factors understudy from various perspectives. The researcher will hence, use financial statement, form 10-k of LVMH as company specific secondary data as well as already developed literature on the subjects in the domain. 3.3.3.2- Data Collection Primary sources The other main source of information that will be employed for data collection is primary data. The primary data constitutes the raw data collected for the first time for specifically designed research. The data is declared raw for the reason that primary data has not undergone any statistical treatment. The primary data for the underlying research has been collected with the help of questionnaires that are distributed to the employees at various selected sites where LVMH undertakes investments. The detail pertaining to questionnaire has already been discussed in previous sections of the study. 3.4 Summary The chapter of research methodology provides comprehensive view to the plan of the research. Well defined research methodology procedures benefit not only the researcher with defined plan for conducting every activity in the study but at the same time the it facilitates the research details to the further researcher or other concerned personnel. Hence, the above chapter provides detailed description for the entire plan of the research. References Cavana, R., Delahaye, B. L., & Sekaran, U. (2000). Applied business research. Australia, John Wiley & Sons. Kothari, C. R. (2009). Research methodology: methods and techniques. New Age International. Kumar, R. (2010). Research methodology: A step-by-step guide for beginners. Sage Publications Limited. Patton, M. Q. (1980). Qualitative evaluation methods. Beverly Hills, CA: Sage publications. Sekaran, U. (2006). Research methods for business: A skill building approach. John Wiley & Sons. Read More