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Bertrand de senneville, L'Oréal - Crisis reactions

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This was the first crisis in our history to affect each and every one of our divisions and geographical regions. This was something that none of our employees had ever seen before. People thought they were safe, doing business in markets that would never stop growing. This was a rather brutal wake-up call for all of our employees. Nevertheless, this situation was beneficial in that it allowed everyone to realize that we are never in the clear. You cannot take anything for granted in life or in a company. A number of measures had to be taken to deal with this crisis. Obviously, we instated a hiring freeze, but not an absolute hiring freeze. We did not take on any new recruits except for young, budding talent (trainees and interns). We are convinced that if we do not hire beginners now, we will have a shortage of such talent once the economy recovers. L'Oréal's markets were little affected by the crisis in comparison to other industries. Our markets decreased from 2% to 10% (luxury market)depending on the business line. Our drop in sales volume was much less drastic than in other companies, some of which lost 25-45% of their revenue or sales volume. We adapted to the context by taking the first steps that the situation called for: decreasing the number of temporary employees, non-renewing fixed-term contracts, and other obvious measures at the outset. This crisis forced certain individuals--our managers in particular--to rethink organizations that had been deemed well-adapted for many years. It is true that when a company is growing, it rarely has the time to focus on the efficiency of its organizations. The silver lining of the crisis is that it forced many managers to question the adaptability of our organizations.

Video Details

Duration: 2 minutes and 33 seconds
Country: France
Language: French (France)
Genre: None
Views: 143
Posted by: cscideas on Jan 12, 2010

Bertrand de Senneville, Labor Relations Director for L'Oréal, describes how his company came to terms with the crisis and the various measures that enabled them to optimize human resource management.

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