Wal-Mart employs over 2 million individual worldwide. The Wal-Mart employees are referred to as associates and this is done out of both a sense of respect, as well as the realization of the important role played by the employees in the creation of organizational success. Wal-Mart argues that one of its goals is that of making the world a better place for its customers, shareholders, but also for its associates. The organization addresses the prospective employees through various channels, including the most recent internet recruiting.
The company lures future associates through the promise of several benefits. These benefits are generally divided into two categories: health and wellness benefits and financial benefits. The first category of benefits includes medical coverage, dental insurance, business travel insurance, disability coverage or illness protection. The financial incentives include a stock purchase plan, a retirement account rollover, discounts on purchases, paid holidays, Wal-Mart profit sharing and the 401 K. plan (The Wal-Mart Stores Website).
Still, despite these benefits, the company continues to encounters several critical aspects in its approach of the employees. In other words, there are several human resource issues which should be addressed. Some of the more noteworthy ones include:
(a) Lack of financial incentives -- the Wal-Mart employees are paid minimum wage and their levels of on-the-job satisfaction are decreased. While this strategy is recognized as necessary in the maintenance of the lowest retail prices, it should also be recognized that it creates internal tensions.
On the one hand, there is the dissatisfaction revealed in the relationship with the employer, represented by the managers. Employees will tend to reduce their commitment to completing the tasks assigned to them by their supervisors. On the other hand, the dissatisfaction of the staff members would be felt in the relationship with the customers. Not being able to benefit from the proper assistance, the customers' satisfaction would also decrease, all to impact the final profitability levels of the corporation.
This status quo points to a situation in which the retail giant cannot afford to not address the problem of employee dissatisfaction. In other words, with the implied risks of increasing operational costs, it is recommendable for the company to present its associates with more financial incentives.
(b) Lack of non-financial...
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