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It is important that HRM consultants create a strong and sound strategy to keep and gain the competitive advantage. By successfully implementing good HRM strategies, companies can provide excellent talent and improve by staying current on the latest technologies and other information talent (Welcome to HR Consultants, Inc., 2009). This will allow clients to increase productivity within the organization; which in turn will increase profits. The greatest organizations realize that effectively managing the HRM strategies and know that employees are their greatest asset and that they are important to their survival. A sound understanding of HRM strategies will allow clients to keep their competitive advantage (Welcome to HR Consultants, Inc., 2009).

L.L. Bean, Inc. is a mail-order, online and retail company based in the Unites States. The competitive strategy of L.L. Bean comes from its focus towards the customers and the satisfaction of them. This satisfaction comes in many different ways. At first there are the different ways of ordering possibilities which makes sure every customer can choose the option he/she likes best. Second there is the “100% satisfaction” which makes

Employees are driven by a numerous motivators to stay in the company, but the biggest is simply getting a regular paycheck. Ensuring that the compensation system is effective is not just important but critical. A few organizations evaluate their compensation system to identify any shortcomings. It is always important to look at how the organization can improve its compensation strategy to attract the best candidates who can innovate and lead the company in the industry. In order to retain high performing employees, the compensation plan should offer more than just a competitive salary. A good example is Costco and Walmart, on the benefits side, 82% of Costco employees have health-insurance coverage, compared with less than half at Wal-Mart.

The right compensation program will depend on the organization’s business strategy and goals. To achieve these, an organization must recruit and select the best possible employees. To attract such employees, there must be an attractive compensation plan. Competitors will be offering different payment options, this may be based on pay rate or special perks, and a company’s stock options. Organizations must be aggressive yet reasonable to compete with competitors. Retaining and encouraging employees to perform at their best may be achieved through an immediate incentive award

Aflac is known for providing excellent benefit packages to employees, while adding value to the company. Generating a multi-generational workforce, while creating a positive work environment that boost’s productivity. Aflac focuses on being the employer of choice. There are advancements for both management and career development and training. L.L. Bean has high standards for health and safety. Their commitment is for fair labor and human rights. For example, the organization has non- discriminatory practices, especially for fair compensation and benefits. It believes in profit sharing, and employee’s bonuses based on company performances. Employee are than encouraged to add value within the organization, and support the natural environment.

With the constant change in today’s business world, to have a competitive advantage makes it difficult for employers to attract and retain the most talented employees. Identifying the company’s compensation strategy ensures the organization offers the right pay and manages the pay increases to retain top talents. When we hear the word compensation we think about compensating an employee for their work performed, but there

The purpose for the organization Walgreens is to stay put in a dynamic, self-motivated and energetic business environment. Walgreens is a successful business looking to progress overall presentation and place the company for potential expansion. In order for this to follow through, a total rewards program needs to be created. The incentives and compensation plan must connect with the goals of the organization. A solid rewards program will build motivation in the work place. As the text states, “The notions that rewards are means to motivate employees assuming that the rewards are distributed fairly. Rewards seem to be part of many different perspectives in motivation

The L.L. Bean image should be kept and maintained because this image is the core asset and source of success to the company. However, due to changing nature of business, the company should consider other operational methods other than mail-orders. Retail stores sales have been shown as increasing over the years, L.L. Bean could consider expanding its scope of retail stores across the country.

The company’s main objective is to introduce ‘; Beyond the bean’’ to the Canadian market in London Ontario on the Richmond road and open up a café for mainly students, to get together and serve as a recreational center. This will be possible through the café and/or by having a variety of board games for the public. The initial approach will be to gain a market share for leveling out the playing field and being a root competitor for similar types of businesses. In the external and internal analysis you will be able to find all the necessary information that will provide you with a generous overview of the company’s

A well-articulated compensation philosophy drives organizational success by aligning pay and other rewards with business strategy. It provides the foundation for plan design and administration and anchors current and future plans to the company's culture and values (Kaplan, 2006, p.32). Recognizing and rewarding achievement is the cornerstone of the company A’s compensation philosophy. The mission of the company is to attract, select, place and promote all individuals based on their qualifications. The company believes that performance-based compensation helps attract, develop and retain talented professionals. In addition to base pay which based upon local market conditions and targeted to be above market, the company provides the following types of potential compensation to reward performance:

When working in the catalog industry and a customer calls in and wants to order a red sweater and you are out of red sweaters, the company might have just lost the sale if the customer does not want a substitute colored sweater. This is the part of the continuous problem that L.L. Bean, Inc. has with item forecasting and inventory management. Working in a catalog business really helps companies to capture demand, but the problem most companies have is matching demand with supply. Every sale that is generated for L.L. Bean is by customers that want a particular item and if that item is not available, they lose the sale. Customer behavior is hard to predict which affects the demand level of all the

Compensation strategies within a company are very important. Companies need to invest in offering compensation benefits to their employees because they enhance an employee’s wiliness to stay long term with the company. They also provide a positive foundation between the employee and employer. If an employee is happy and content with the company they work for then this will benefit the company and the employee. The employee will be motivated to do a good job for the company and in the long run the extra money and work that the employer puts in for the added benefits will pay off. In this report you will see how Paid Time off (PTO) , bonuses and merit pay increases will benefit not only the employee but the business.

Kaplan, S. L. (2007). Business Strategy, People Strategy and Total Rewards. Benefits & Compensation Digest, 44(9), 1-19.

Commitment and consistency is key in directing human actions. A product of high quality should stay as such or customers will lose interest and move on if quality begins to slip. Building a relationship with customers through trust, responsiveness, quality, respect, and rewards will help further the company. L.L. Bean offered its customers a generous return policy that allowed customers to return items years after they had been purchased. Other forms of customer rewards include loyalty programs, discounts, club membership discounts and special services like free oil

Although research generally confirms that pay-for-performance plans can influence greater outcomes, it is unclear how effective different pay plans are relative to each other (Park, 2012). Like most things in business, compensation is something that requires evaluation, study, assessment, strategy, modeling and integration.  Achieving a pay for performance culture does not happen without paying attention to the behaviors, activities, rewards and motivations that have to be linked and reinforced through a well engineered and successfully executed process.  Actually if that process does not tie rewards to shareholder financial objectives, employ the proper mix of compensation elements, result in meaningful dollars, embrace performance that employees can impact and are effectively communicated and reinforced, then the results it produces will likely fall short (Vision Link Advisory Group, 2013).