Group 4 | Section B LG Electronics India Limited

ABOUT LG Founded by Koo In Hwoi in Jan 1947 as Lak-Hui(Lucky) Chemical Industrial Corp.(currently LG Chemicals) Established Gold Star Co Ltd in 1958(currently LG Electronic Inc.). Merged these two companies & formed “Lucky- Gold Star” Corp Second largest conglomerate company of South Korea Over 200 subsidiaries overseas in over 80 countries with employee strength of about 300,000 Subsidiaries are LG Electronics, LG Display, LG Telecom and LG Chemicals LG Electronics India Ltd, an Indian subsidiary established in January 1997 More than 3000 employees with corporate office at Greater Noida and Mr. Soon Kwon is MD Business Areas are Home Entertainment, Home Appliances, AC, Business Solutions & GSM About LGEIL

To become a worldwide leader in digital technology in 21 st century To ensure customer satisfaction through innovative products and superior services Three core capabilities: Product Leadership, Market Leadership, and People Leadership To set & meet the highest goals in innovations Every road block to be met with alternate route before saying “no” Strong team work to encourage pride in achievements Respect for individual’s creativity and freedom

Creativity and AutonomyCompetencePerformance Based RewardsEqual OpportunitiesLong Term PerspectiveTrainingFixed and Flexible Salaries

Innovative HR Policies

Family Ambassador Programme Risk involved is very high as family members in India can get quite specific, intrusive and direct in their probing questions and demands This program can suffer from repetitive fatigue as days pass by and enthusiasm diminishes The families may not open up, so an informal environment created Despite criticisms, this program found successful in addressing the common issues faced by the employees Initially this program was rolled out for factory workers. Later it was expanded to include managerial staff also Acts as an ice breaker and brings a human touch to the faceless organization

Family Ambassador Programme Started with the understanding of Indian Culture as family oriented Family Ambassador Program is based on the perception family members of employees have about LG A mentor (HR manager) is assigned by the company to a group of employees The Mentor interacts with family members of employee to take suggestions on improving the organizational environment This helps in identifying the issues faced by the employees beyond company responsibilities Sense of bonding of employees with company as well as emotional commitment of staff increases Family members also invited to open house sessions that take place in the actual workplace

One of the other innovative practices is “Joyful Working 5” It is based on five key factors: o Stress o Communication o Leadership o Target Setting o Working Hours JW5 brings fun at work place. Work becomes a mission for each individual Some of the motives of this programme  More openness through forums  Giving positive strokes to employee at right time  Fun day celebrations in departments  Building leadership competencies etc.

Some of the activities under this practice are  Help desk facility for employees to overcome professional problems  Pick and drop facility for employees  Breakfast, Lunch & Dinner  Half day break on request to come up with the innovation of the day  Team slogan shouting every morning to motivate workers  World renowned six sigma training to all employees  English coaching classes to blue collar employees  Lunch served first to workers then to white collar employees  Workers meet the MD on first Monday of every month and 50 workers amongst of them get awards for outstanding performance

On Line Recruitment Management System  The candidates can register their CV through the official site  Access to not only the HR department but also to the various functional departments  Screening/short listing process- easy and time saving  Further communication through portal Psychometric test- to see organizational fit Negative Interview- to assess stress bearing capability at different levels Bold display of organizational culture to align mindset An induction program for the duration 14 days, thorough integration of business and HR processes by formulating KPIs