LVMH FAIR WAGE PRINCIPLES
With support from the Fair Wage Network, LVMH continues to pursue its fair and consistent compensation policy that recognizes the importance of its talent, team cohesion and the long-term development of its activities.
Compensation represents an essential symbol of recognition and driver of engagement. It helps attract and retain talent, as well as support them through their career. That is why LVMH continues to deploy its Fair Wage policy in partnership with the Fair Wage Network, thereby bolstering its ambition to guarantee fair compensation for all its employees.
The first stage involves carrying out checks to assess the extent to which the practices in place within the Maisons comply the fair wage principles. The assessment of the compensation offered considers the comparison with respect to the wider market, consistency and balance within each Maison and growth over time. It also integrates notions relating to gender equality and transparency, in accordance with the Group’s diversity and inclusion commitments.
These assessments fall within the pursuit of continuous improvement. The results serve to identify areas of improvement and form the foundation for targeted action plans for each Maison. This approach goes above and beyond simple wage concerns, it helps to foster a respectful and stimulating working environment where every individual can confidently envisage a fulfilling career within the Group. The Fair Wage policy complements other actions pursued by the Group with respect to talent development. It goes hand in hand with the Talent Development roadmap, the Diversity & Inclusion policy and the commitments made as part of LIFE 360.
It also responds to growing expectations of employees and international standards with respect to social responsibility. Furthermore, it falls within the Group’s duty of vigilance, because by gradually integrating its strategic partners in this undertaking, LVMH helps bolster the solidity of its value chains.
The implementation of Fair Wage principles requires buy-in from all levels of the organization, from HR departments down to teams on the ground. As such, awareness, training and social dialog play a central role in the success of this transformation.
OUR INITIATIVES
Group's intiatives
LVMH continually reaffirms a commitment to diverse teams, reflecting the reality of its businesses and creating an invaluable source of performance.
LVMH created the Inclusion Index in March 2018 to recognize Diversity and Inclusion initiatives throughout the Group.
As part of the corporate social responsibility efforts which LVMH has pursued for nearly 15 years, the Group launched the LVMH Heart Fund in June 2021.
Steadfast in the commitment to integrating people with disabilities into the workplace, LVMH has launched an inclusive program to enhance accessibility, recruit people with disabilities and provide them with the support that enables them to perform their best at work.
The first training program in the luxury industry with a work-study format, the ME Institute offers training in Creative, Craft and Client Experience métiers.
LIVE — L’Institut des Vocations pour l’Emploi works with people aged 25 and over looking to get back into work and make a fresh start.
As an employer, the LVMH group considers itself responsible for providing a safe and fulfilling work environment for all of its employees by combining quality of life at work and the drive for performance.
LVMH encourages open communication and dialogue within the Group and with its external partners and clients (“stakeholders”).
LVMH has been actively involved in the fight against sickle cell anemia since 2011, providing support for teams at Robert Debré Hospital in Paris, one of the world’s leading research centers for the disease.
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