Hrm Strategies on Lg - 1563 Words

International Human Resource Management Term Paper 1st Submission Dated: 20/09/2011 Submitted To: Submitted By: Prof. Sukhjinder Baring Sahil Goyal Course Instructor MBA-2B IHRM Contents * About LG * Global Presence * HR policies of Different Countries * PCN Strategies * Studies About LG: LG Electronics was founded in 1958 at Seoul, South Korea. This multinational company is the 2nd largest electronic products maker†¦show more content†¦Training: LG Electronics offers diverse educational programs to its employees according to rank and job to encourage growth and development and mold them into the right people for the company. They do this by equipping them with the professional capabilities that the company needs and enabling them to apply the latest technologies to their work. Rewards: LG Electronics offers its employees a competitive, unique rewards system that takes account of their working situations by nation, region, and job. This rewards system motivates employees to perform better by helping them to enhance their quality of life. LGs rewards system consists of fixed salaries and flexible salaries. Fixed salaries are determined every year through a fair evaluation process. Flexible salaries are immediate rewards given to individual employees for their performance and competence. Note: The below link is able to explain the HR system and practices in South Korea http://www.pacificbridge.com/publication.asp?id=15 Studies: Hofstede Cultural Model for South Korea South Korea displays Geert Hofstede Dimensions similar to Latin American countries (see Latin America Hofstede Graph below). South Koreas Index values are: PDI=60 IDV=18 MAS=39 UAI=85. South Koreas closest correlation to another country in the Hofstede survey is to El Salvadors values of PDI=66 IDV=19 MAS=40 UAI=94. 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