Introduction to Walmart
Walmart is a multinational retail corporation situated in United States focusing on providing quality products to the customers. The company was founded in 1962 by Sam Walton and after the foundation, it has been found that Walmart has seen significant amount of growth. Walmart has been the largest retail giant after the foundation and has been a global leader for retain industry. The growth prospect of the company has been easier and effortless due to its payroll cost control as well as efficient employee management. The firm has been found to be operated in six merchandise units which includes entertainment, health and wellness, grocery and apparels (Barrena-Martínez López-Fernández & Romero-Fernández, 2019). From the foundation, the firm has always focused on improvising employee satisfaction without which it would not have been possible for the firm to achieve growth over the years. The following section of the essay will denote how Walmart has improved its employee satisfaction over the years with the help of human resource management policies.
To improve work atmosphere and make Walmart the best place to work, the organisation has taken various initiatives which allowed it to achieve its human resource goals and improve employee satisfaction.
Walmart has employed a large-scale approach within the human resource management system of the company and the firm has been found to one of the satisfying businesses to work with. With efficient human resource policies, the firm has been able to improve its organisational processes and has been able to improve high performance within its employees. The human resource management of the company has been focused on addressing the performance and growth potential of employees within the organisation and it has been evident that the firm has employed continuous development practice in order to improve its work culture (Bao etal., 2021). Human resource planning within the organisation takes place at the top level and devises the strategy to the employees further. It has been also evident that the firm has used different types of information system strategy in order to improve the workforce condition and stabilise the employee benefits and compensations. Despite of the significant fluctuations of the retain market and business operations, it can be noted that Walmart has been able to ensure adequate amount of employee management and maintain healthy workplace atmosphere. To assist the economy, the firm has been seen to high qualified workers continuously. The firm also trained the new employees and ensured that the vacant job position is filled properly.
Employee retention policy of the organisation is focused on providing the maximum benefits to the employees so that the organisation can reduce the amount of financial loss in relation to employee termination. The firm has been able to retain its employees with different approaches which includes recognition of each employee based on their performance, providing benefits to the employees based on their status and position as well as to provide incentives to the employees on the basis of their position or status (Cooke etal., 2019).
Based on the recent analysis, it has been also found that Walmart values its employees and it has initiated different training campaigns to satisfy the need of the employees as well as to improve their potential. The human resource management of the company focused on the corporate program which improves the technical knowledge and skills of the employees. The improvement in employee performance has been also evident post the implementation of the program. To understand whether the employees are efficient or not, the organisation collect feedback from the customer based on the training programs.
Efficient Human Resource Management Policies at Walmart
Walmart has been also found to employ performance management system which has assisted the organisation to improve their performance. Further, it has been also found that the firm used different human resource management software to evaluate individual as well as team performance efficiently. Further, it has been also found that the implementation of performance management system allowed the organisation to improve their performance plans and allowed the firm to measures sales performance (Mazouni, 2018). The human resource management of Walmart is also concentrated in improving the employee morale and productivity. The firm has faced different performance related issues of its employees and it has been perceived that the firm always encourages its employees to boost their productivity with different sources of initiatives and measures. Further, it has been also evident that the new human resource policies of Walmart have allowed the organisation to improve its existing policies as well as assisted it to improve employee satisfaction within the work environment.
The human resource management within Walmart is also concerned about the careers of the employees and Walmart regularly conducts training programs in order to improve employee specific skills as well as support employees to join different seminars and programs which will assist them to improve their individual growth. Further, the firm always conducts feedback from the employees about the existing process and passes them to the management so that the overall process improvement can be perceived within the workplace. Further, it has been also evident that the career opportunities within Walmart have been significant and the firm has been able to improve employee performance with the help of different performance management initiatives. The organisation provides sufficient amount of pay to its employees based on the job level of its employees (Barrena-Martínez, López-Fernández & Romero-Fernández, 2019). Further, it has been also evident that Walmart’s success is primarily dependant in the incentives without which the employees will not be able to perform efficient within the business environment. It has been also found that Walmart’s business performance has perceived significant amount of boost with the help of the performance improvement plans as well as business improvement initiatives.
Simply said, putting technology into operations will inevitably give each person more responsibilities. Since most of the fundamental procedures have been computerized, Walmart has revised retail positions for hourly workers to take on more demanding responsibilities, one of which is guaranteeing that the shop meets visual standards. Employees would be able to help those who want to take some time off or require greater support during busy shifts as the organisation grows their talents. Walmart established the Intelligent Retail Lab, or IRL for short, to investigate the use of artificial intelligence (AI) in the retail environment and how it may assist enhance productivity and make employees’ tasks easier.
Conclusion
On a concluding note, the organization’s employee retention policy focuses on giving maximum benefits to workers in order to limit the amount of financial loss associated with employee discharge. According to a recent research, Walmart places a high importance on its workers and has launched several training efforts to meet their needs and help them reach their full potential. Walmart’s human resource management is also focused on increasing employee morale and productivity. The company has dealt with a variety of employee performance concerns, and it is believed that the company constantly pushes its staff to increase their productivity through various programmes and measures.
Employee Retention Policy at Walmart
From the analysis, I have found that Walmart has taken various initiatives in order to enhance their employee satisfaction and make the organisation beneficial for its employees. Further, I have also found that the analysis has successfully able to understand different factors related to employee satisfaction and has found that employees always want perks and benefits in order to be satisfied. Further, I have also found that the human resource management program within the organisation has allowed Walmart to improve employee performance and boost their confidence. The incentives provided by the organisation has been also found to be sufficient enough to encourage the employees work as per the organisations policies and strategies. I have also found that with employing different programs and processes, Walmart has been able to significantly improve employee productivity as well as reduced the workload of its employees which in turn improved employee satisfaction and morale within the organisation significantly.
I have found that the human resource management policies, Walmart have been able to enhance its organisational processes and therefore has been able to enhance its performance efficiently. Further, I have also found that Walmart has always focused on the performance of its employees and thereby provided different types of development practices in order to enhance its work culture. I definitely think Walmart values its employees and has employed different campaigns which will satisfy the need of employees. Walmart has also employed different corporate program which enhanced the technical skills as well as knowledge of the employees. Following the adoption of the programme, I have found that there has been a noticeable improvement in staff performance. The organisation collects input from customers regarding the training programmes to determine whether or not the staff are efficient. Furthermore, the company collects employee input on the current process and relays it to management such that the total system development may be seen in the workplace. Furthermore, it is clear that Walmart offers a wide range of career prospects, and the company has been able to increase employee performance through various performance management programmes.
References
Bao, H. J., Cheng, H. K., Vejayaratnam, N., Anathuri, A., Seksyen, S. K., Bangi, B. B., & Bakar, A. A. (2021). A study on human resource function: recruitment, training and development, performance appraisal and compensation. Journal of Global Business and Social Entrepreneurship (GBSE), 7(20).
Barrena-Martínez, J., López-Fernández, M., & Romero-Fernández, P. M. (2019). Towards a configuration of socially responsible human resource management policies and practices: Findings from an academic consensus. The International Journal of Human Resource Management, 30(17), 2544-2580.
Cooke, F. L., Liu, M., Liu, L. A., & Chen, C. C. (2019). Human resource management and industrial relations in multinational corporations in and from China: Challenges and new insights. Human Resource Management, 58(5), 455-471.
Mazouni, M. (2018). The Effect of Global Investment Decisions and Financial Risk on Multinational Corporations: Walmart Corporation Case Study. Available at SSRN 3257136.
Song, X. (2018, June). A study on management model of human resources in multinational companies based on cultural differences–taking walmart as an example. In June International Conference on Sports, Arts, Education and Management Engineering.
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