|Principal Shareholder||Liliane Bettencourt|
|Products||Cosmetic and Beauty Products|
- 1 About L’Oreal
- 2 Engagement in Cultural Diplomacy
- 3 Employment Policy
- 4 Education
- 5 Notable Activities
- 6 External Links
Founded in 1909, L’Oreal is a household and personal care company. L’Oreal was established in Paris, France. The company produces top performing products at great prices, reachable to a number of consumers. Its commitment to cater to men and women enabled them to become one of the global leader in the world for beauty trends. L’Oreal uses celebrities such Eva Longoria to be the face of their product.
Engagement in Cultural Diplomacy
In 2010, L’Oreal has published a report where the company evaluated the progress that it has made in reference to diversity within the company between 2005-2010. The company has 7 goals, which are the following: ‘Reflect the diversity of origins within its teams; Promote gender equality within its teams; Encourage the employment of people with disabilities; Valorize work experience in anticipation of a longer work life; Develop an inclusive managerial culture, respectful of all; Promote the emergence of a diversities ecosystem; Deploy and evaluate the diversities policy.’
The company established a fair to give recruiters the opportunity from 15 different companies and candidates to overcome difficulties to acquire a job interview due to their ethnicity, age, social and geographic origins. It has been organised in partnership with IMS-Entreprendre pour la Cité in 2006, titled “Employment & Diversity”. Since 2008, the fairs had been aimed to apprenticeships, internships and summer jobs. The fair has proved to be very successful with 20 companies participating and 984 candidates benefited from a recruitment interview.
In L’Oreal’s ‘Code of Business Ethics’, the company notes that they value diversity and that it is the greatest asset that the company has. The company is committed to facilitate professional integration for those require special attention, which are the following: young adult, persons from disadvantaged backgrounds and people with special physical needs. Similarly, L’Oreal has signed an agreement to employ workers over 50 years old. Through the years, the number of people over 50 has increased. The company is equally committed to ensure that their suppliers, customers and business partners comply and are aware of L’Oreal’s diversity policy.
L’Oreal’s commitment to diversity in the workplace has paid off. As the company was awarded Diversity and Inclusion Award for its commitment and innovative action with regard Diversities in 2012. It was given many more recognition over its diversity within the company throughout the years. It should equally be noted that L’Oreal is now working towards a Diversity Policy.Overall, L’Oreal puts high value in regards to diversity within workplace and it has been highly recognised. Over the years it aims to improve the diversity within the company.
Cultural Exchange Program
L’Oreal encourages mobility within the company. They believe that it will benefit the their executives, both junior and senior, as they will acquire experience of different cultures, business approaches and market situations.
International Internship Program
L’Oreal recruits a third of former interns each year. The company provides experiences in Research, Operations, Finance, Information Systems, Marketing, Sales, Communications, Digital, and Human Resources. The internship period varies from three to twelve months.
Cooperation with Universities
L’Oreal Professionnel and the Central Saint Martins College of Art and Design, have built a partnership in 2001, in order to nurture talents. Their aim is to ‘recognise and promote the way hair and fashion have been historically linked and to pair up-and-coming creative fashion talent with the hairdressing stars of tomorrow.’ L’Oreal supports BA students behind the scenes for their fashion shows. Similarly, L’Oreal sponsors MA students fashion shows and present the L’Oreal Professionnel Creative Award and support three bursaries each year.
Promoting Human- and Civil Rights
L’Oreal is supporting the United Nations Global Compact since 2003. The UN ‘initiative encourages the integration of social, environmental and governance principles in business activities.’ On their website, L’Oreal notes that ‘the framework of the United Nations Global Compact , L’Oréal's is committed to supporting and implementing, within its sphere of influence, the ten fundamental principles relating to human rights, labor standards, the environment and the fight against corruption.’
Activities in the Field of Humanitarian Aid
L’Oreal has a corporate Foundation which is committed to social causes based on science and beauty. In reference to science, the company is supporting women in science and promoting scientific careers.The Foundation also undertakes numerous projects to spread the culture of science around the world. In reference to beauty, L’Oreal develops programs that helps restoring self-esteem and dignity and also to support vulnerable people to reintegrate into society. Additionally, L’Oreal has an initiative called ‘Hairdressers Against Aids’, in partnership with UNESCO, where special trained hairdressers provide guidance on how to prevent the disease. 37 countries have joined the initiative in 2012 and an estimated 1.8 million hairdressers have been trained since 2005.
Supporting Music and Visual Arts