Kmart Company Human Resource Plan

Human resource departments today have a more distinct, calculated position within organizations, and human resource strategy influences the bottom line. “One of the challenges for HR leaders is convincing executive leadership teams that human capital is one of the most important resources in which the company can invest” (Mayhew, 2014, p.). Subsequently, “this return on investment is an essential part of the argument for including HR as part of an overall business strategy” (Mayhew, 2014, p.). Human resource departments utilize the information given to them from company executives and leaders, coupled with their respective expertise on all things personnel, and they plan and implement staffing concerns for the betterment of the organization. From preparing job analysis, to comparing inventory and forecasting, it is the responsibility of human resources to consider the objectives of an organization and fulfill those goals while operating the specific planning relative to HR.

Many businesses and subordinates view HR just as an administrative function for firms to hire and assist in selecting benefits. However, at Best Buy, HR adds value in restructuring work schedules to be flexible but still develop results in the workplace through ROWE (Thottam, 2005). Today’s workforce is looking for employers that are open-minded about demands of family time, personal time, and long working hours. Here at Best Buy, HR’s focus on employees contributes to the organization’s success to maintain competitiveness because ROWE, which promotes motivation and one workforce (Smith, & Cantrell, 2011).

Macy’s is a nationwide department store offering housewares, apparel, jewelry, and beauty products. Macy’s is one of the oldest retail companies in the United States, but our mission statement proves that we have a modern and relevant mission for the future. "Our goal is to be a retailer with the ability to see opportunity on the horizon and have a clear path for capitalizing on it. To do so, we are moving faster than ever before, employing more technology and concentrating our resources on those elements most important to our core customers." Although our customers are paramount, at Macy’s, our greatest strength lies in the skill, judgment and talent of our people. Every day our team displays a passion for the industry on our selling

Changing to a pay-for-performance pay system always has several implications. The most important of these are discussed in the succeeding paragraphs.

Contemporary globalization of businesses and growing global market competition has made effective human resource planning as one of the major strategies to forge ahead and remain proactive. It can be said that an organization 's success lies to a great extent to the knowledge, skills, creativity, and dedication of its workforce. Every aspect of an organization needs human capital to drive its activities or operations to achieve individual strategic goals and objectives towards its purpose of existence, growth, and competitive status. Companies can compete at all levels of the marketplace through improved commitment not only through creativity, innovation, and research, but also human resource development (Truong, Heijden, & Rowley, 2010). In this regard, the human resource planning is needed to ensure a systematic analysis of human resource needs so that the right quantity and quality of employees are always available when required. Fundamentally, organizations are looking for the best people that would help drive them to their desired destination of achieving their missions. Therefore, it is important to develop human resource strategies to support organizational strategies, through measures such as forecasting human resource requirements, and effective strategic staffing. Technically, an organization 's mission, goals, and objectives drive its strategy and human resource (HR) and staffing strategy in an interactive manner. The purpose of this

Individual incentive pay plans reward employees for meeting one or a combination of performance standards (e.g. productivity, safety, or attendance) set by the employer (Martocchio. 2013). Piece- rate pay is one of four individual incentive plans offered in the employment industry. Employers have two options to select from when choosing this incentive plan. The first option is compensating the employee hourly for each piece over the given production number. The second option is compensating employees based on established subjective (quality) and objective (quantity) performance standards. In both options the employee is, essentially, being compensated for the work he or she does and not what could have been completed (Gibbons. 1987).  Motivation,

Management could abolish the Scanlon Plan and advocate an individually based incentive plan. Workers would earn bonuses according to their personal performances. This would be a great extrinsic motivator for employees but this would lower the intrinsic value. Additionally, the free rider problem and equity theory could be solved. However this plan does not reward teamwork and this would cause conflict between

Performance based pay plans are becoming increasingly utilized by companies across all industries as they try to improve their productivity while limiting their costs and remaining competitive. An effective performance based plan allows an employer to distribute some of the financial risk and rewards of the business to the employees. The employer can keep base pay compensation below the market average while still offering employees the opportunity to make more money than what is offered at the high end of the market pay range. This leaves the employer less vulnerable to fluctuations in the economic environment by lowering the fixed cost of wages (Miller, 2011).

Lehigh Hanson is the company I chose as my business case. Lehigh Hanson has been supplying cement, aggregates, ready-mixed concrete, asphalt, and other building materials throughout the United States, Canada, and Germany. The high demands on performance and being open minded is what HR and management hold at high demands and they lead by example. To transition the Human Resource department in becoming an innovative and driving force of the organizations to become a driving force of the 21st century, the HR department needs some assistance. This paper covers the human resource management strategy

Engstrom should create a modified Scanlon Plan that clearly relates bonuses to increased productivity, allows for feedback to improve performance, and sets goals for production would be the best way to motivate employees. First, the new Scanlon Plan should have a simplified payout calculation. The bonuses should not be paid on a continuous monthly basis, but rather on a fixed ratio schedule, which provides rewards “every nth time the right behavior is demonstrated” (Bauer & Erdogan, 2013, p. 112). In practice, this would mean that employees are paid a bonus every time a certain amount of money in allowed payroll is reached. The current allowed payroll is at 38% of sales value (“Engstrom”, 2008, p. 7, Exhibit 1). This does not have to be changed. Instead, as soon as Engstrom reaches an allowed payroll of one million dollars, then 10% of that

These pay systems provide the employee with automatic pay increases. These are absent of subjective performance reviews or objective data that is hard to obtain. To the contrary, seniority is easily indexed by the employee and company (Martoochhia, 2011). It is theorized that seniority pay also incentives employees to take greater interest in the success of the company. If the employee is to reach the upper levels of the pay table then the company must be around in those years or decades to come. This deters the employee from taking part in inappropriate or damaging behavior. Subsequently, providing more value and productivity (Moriones, 2001). Furthermore, seniority pay discounts any accusations of favoritism, as everybody is tied to the same pay system. This greatly enhances the ability of managers and supervisors to motivate their workforce (Martoochhia,

CVS Caremark established 1963, has been expanding every year since their inception. With over 7,000 retail locations they face many human resources challenges. It essential for CVS to understand what HR challenges they face to make informed decisions; beneficial to the company stakeholders and employees. Hr decisions affect not only the employee’s but the company’s social opt squat. These resolutions include recruitment of highly skilled workers, company policies, labor relations, training and diversity, management of multiple locations, global business environments, employee compensation and benefits,

Rapid growth of the business always demands expanding staff and hiring new employees. Recruiting “right” and appropriate people is the difficult process and requires concentration. However, most of entrepreneurs, and J. Peterman in particular, does not pay much attention on human resources and the role of human resources in the growth of the company.

Sam Watson the founder of Walmart once said “our people make the difference”. Walmart understands the importance of its human resource department. Its employees deal directly with its customers and this has an influence on the success of Walmart. The objectives and corporate goals of Walmart are cost reduction, saving money for on goods for its customers to live better and the acknowledgement that their success to a great extent depends on their employees. The human resource functions that Walmart has put in place to be in line with its business objectives are its retention programs/strategies, internal promotion and career development and compensation.

Creating and implementing of incentive pay system supports to solve organizational problems to align the preferences of business and employees. In addition, the system serves as an organizing tool to identify and attract the most capable employees since companies need to deliver the product or