Professional Documents
Culture Documents
Wal Mart
Wal Mart
Live better
Introduction:
A unique feature of Wal- Mart retailing is that it is virtually recession proof. In times of economic downturn, consumers flock to discount retailers. During the recession of1974-75, sales expanded 42 percent; in the 1981-82 recessions, sales grew 44 percent; and the recession of 1990s, sales grew 30 percent. As such, Wal -Mart is not affected by economic downturns like many other retailers. Wal-Mart has obtained a distinct competitive advantage by targeting small, rural communities, which leads to lower operating cost .this advantage result from lower rents, moderate wages. and the absence of unionization. In addition, real estate is significantly cheaper, and smaller communities have a loyal and productive workforce. Although the store location strategy was innovative, several other factors have played a strong role in valuating Wal-mart the top of the retail mountain. For instance, Mr. Sams Management practices were even more trend setting than his store location strategy. For example employees are referred to as employees; instead they are called associates .Other factors contributing to Wal-Mart success include rigorous cost control, an excellent distribution Network, and technological advantage Wal Mart proudly moves up in Fortunes list of the top ten Americas Most admired Companies in 200, rising to fifth on the list.
About Wal-mart
y y Sam Walton opened the first store in 1962 in Rogers, Arkansas. Within 5 years there were 25 Wal-mart stores earning total revenue of $12.6 million in sales. y y In 1972 Wal-mart was listed in the NYSE. In 1991, Wal-Mart became an international company when we opened a Sam's Club near Mexico City. Just two years later, Wal-Mart International was created. y In 2005 Wal-mart incorporated sustainability in its business under their CEO H Lee Scott Jr.
Argentina
Brazil
Canada
Central
Chile
China
India
Japan
Mexico
Puerto Rico
UK
Mission Statement
Offers the best quality merchandise at the lowest prices in all their stores, from school supplies, to household items and top quality groceries
Vision Statement:
Saving people money to help them live better
Purpose. . .
Sam Walton said it best, If we work together, well lower the cost of living for everyonewell give the world an opportunity to see what its like to save and have a better life.
1962 - 1964 Sam Walton names his new stores WALMART. The Walmart name was presented in just about any font/style available to the printer. 1964 - 1981 Also known as the "Frontier Font Logo," this was the first official and consistently used logo. 1968-1981 The Discount City mark was used in print advertising, on the uniforms/smocks, instore signing, and other things. However, it was never used as building signage or in an annual report. 1981 - 1992 The logo was updated again in 1981. 1992 - 2008 The star was adopted as an update to the existing logo in early 1992.
Today, WalMart Stores, Inc. is the worlds largest retailer with more than 1.8 million associates worldwide and nearly 6,500 stores and wholesale clubs across 15 countries. The "most admired retailer" according to FORTUNE magazine has just completed one of the best years in its history: Walmart generated more than $312.4 billion in global revenue in the fiscal year ended January 31, 2006, establishing a new record and an increase of 9.5 percent. The company earned almost $11.2 billion in net income in fiscal 2005.
Guided by founder Sam Waltons passion for customer satisfaction and Every Day Low Prices, Wal-Marts four retail divisions offer a wide variety of quality merchandise to consumers around the world.
Wal-Mart Supercenters
Developed in 1988 to meet the growing demand for one-stop family shopping, Wal-Mart Supercenters today number more than 1,430 nationwide and most are open 24 hours a day for th e ultimate in convenience. Supercenters save customers time and money by combining full grocery lines and general merchandise under one roof at Wal-Marts signature Every Day Low Prices. In addition to general merchandise, Supercenters feature bakery goods , deli foods, frozen foods, meat and dairy products, and fresh produce. Supercenters also are home to many specialty shops
Sam's Club
Sam's Club is a chain of warehouse clubs which sell groceries and general merchandise, often in large quantities. Sam's Club stores are "membership" stores and most customers buy annual memberships. However, non -members can make purchases either by buying a one[51] day membership or paying a surcharge based on the price of the purchase. Some locations
also
first
Sam's
Club
opened
in
1983
in Midwest
City,
Oklahoma [51] under the name "Sam's Wholesale Club". Sam's has found a niche market in recent years as a supplier to small businesses. All Sam's Club stores are open early hours exclusively for business members and their old slogan was "We're in Business for Small Business." Their current slogan is "Savings Made Simple" as Sam's Club attempts to attact a more diverse member base. In March 2009, the company announced that it plans to enter the electronic medical records business by offering a software package to physicians in small practices for $25,000. Wal -Mart is partnering with Dell and eClinicalWorks.com in this new venture.[52] According to Wal-Mart's 2007 Annual Report, Sam's Club's sales during 2007 were $42 billion, or 12.1% of Wal-Mart's total 2007 sales.[53]As of December 2009, there were 605 Sam's Clubs in the United States. Wal-Mart also operates more than 100 international Sams Clubs inBrazil, China, Mexico, and Puerto Rico.[54]
Wal-Mart International:
Wal-Mart's international operations currently comprise 2,980 stores in 14 countries outside the United States.[55] According to Wal-Mart's 2006 Annual Report, the International division accounted for about 20.1% of sales.[41] There are wholly owned operations in Argentina, Brazil, Canada, Puerto Rico (although PR is part of the US, the company's operations there
[55] are managed through its international division ), and the UK. With 1.8 million employees
worldwide, the company is the largest private employer in the US and Mexico, and one of the largest in Canada.[56]
(spelled
in Canadian English) opened on November 8, 2006, in Hamilton, London, and Aurora, Ontario. As of October 31, 2008, there are 39 Wal-Mart Supercentres in Canada,[48]. In 2008, Wal-Mart named German retailing veteran Stephan Fanderl as the president of WalMart Emerging Markets-East in an effort to, "explore retail business opportunities in Russia and neighboring markets." The market is estimated to be worth more than$140 billion per year in food sales alone. In January 2009, the company acquired a controlling interest in the largest grocer inChile, Distribucion y Servicio D&S SA In February 2010, the company agreed to buy Vudu, a Silicon Valley start -up whose threeyear-old online movie service is being built into an increasing number of televisions and Blu ray players. Terms of the acquisition were not disclosed, but a person bri efed on the deal said the price for the company, which raised $60 million in capital, was over $100 million.
10-Foot Rule
The 10-foot Rule is one of our secrets to customer service. During his many store visits, Sam Walton encouraged associates to take this pledge with him: "I promise that whenever I come within 10 feet of a customer, I will look him in the eye, greet him, and ask if I can help him." The 10-foot Rule was something Sam practiced his entire life.
Open Door
The door is always open. At Wal-Mart, our management believes open communication is critical to understanding and meeting our associates and our customers needs. Through our open door policy, associates (employees) are free to share suggestions, ideas, and voice concerns. Whether its help with a problem, guidance or direction, or simply getting an answer to a question. Associates can trust and rely on the open door. This means that managers will treat all discussions fairly, with an open mind, and without bias. Theyll maintain complete confidentially, whenever its possible. Theyll work with you to mutually resolve any issues or problems you may have. Its one of the most important parts of our culture. Were all part of the same family the Walmart family. And like family, we care. The open door has helped solve some of our biggest problems, and its generated some of our greatest ideas.
Teamwork
Sam Walton believed its our teamwork that makes us special. "What makes ordinary people do extraordinary things? Sam Walton, our founder once asked. Aren't we a group of ordinary folks? We really are. And I think we, together as a team, have done extraordinary things. We've all grown, we've all accomplished muchmore than any of us ever thought that we could." We believe in the power of teamwork, too. As our business grows and the pace of modern life quickens, Sams philosophy of teamwork has become even more important. Our ability to work together affects the quality of service our customers receive. To give the very best service to our customers, and to each other, we rely on guidelines that made our culture great. And make us proud to be a member of the Wal-Mart family:
Guiding Principles:
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Always act with integrity. Lead with integrity, and expect others to work with integrity. Follow the law at all times.
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Be honest and fair. Respect and encourage diversity, and never discriminate against anyone. Work, actions, and relationships outside of your position with the company should be free of any conflicts of interest.
Ask your manager or the Global Ethics office for help if you have any questions about our Statement of Ethics, or if you face an ethical problem.
Inform the Global Ethics office about any suspected violations of our Statement of Ethics.
Cooperate with and maintain the private nature of any investigation of a possible ethics violation.
When involved in an ethics investigation, you should reveal and report all information truthfully. You should present all the facts you are aware of without personal opinion, bias, or judgment.
Sam Walton built Americas vast chain of Wal-Mart stores on the philosophies of excellence in the workplace, customer services, and always having the lowest prices. Walton, affectionately known to his staff as Mr. Sam, was a true entrepreneur. He established WalMart in 1962 at the age of 44. He died in 1992, having seen his company become Americas biggest retailer. Walton believed that each Wal-Mart store should reflect the values of its customers and support the vision they held for their community. Today, Wal -Marts Community Outreach Programmes underwrite college scholarships, raise funds for local childrens hospitals, provide money and manpower for fund raisers, and help educate thepublic about recycling and saving the environment. Wal-Mart even helps American towns and cities build up their local industries by providing industrial development grants.
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Rule 3: Motivate your partners Money and ownership alone are not enough. Constantly, day by day, think of new and more interesting ways to motivate and challenge your partners. Set high goals, encourage competition, and then keep score. Make bets with outrageous payoffs. If things get stale, cross-pollinate; have managers switch jobs with one another to stay challenged. Keep everybody guessing as to what your next trick is going to be. Dont become too predictable.
Rule 4: Communicate everything you possibly can to your partners The more they know, the more they will understand. The more they understand, the more they will care. Once they care, there is no stopping them. If you dont trust your associates to know what is going on, they will know you dont really consider them partners. Information is power, and the gain you get from empowering your associates more than offsets the risk of information your competitors.
Rule 5: Appreciate everything your associates do for the business A paycheck and a stock option will buy one kind of loyalty.But all of us like to be told how much somebody appreciates what we do for them . We like to hear it often, and
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Rule 6: Celebrate your successes Find some humor in your failures. Dont take yourself so seriously. Loosen up, and everybody around you will loosen up. Have fun. Show enthusiasm- always. When all else fails, put on a costume and sing a silly song. Then make everybody sing with you. Dont do a hula on Wall Street. Its been done. Think up your own stunt. All of this is more important, and more fun, than you think, and it really fools the competition. Why should we take those cornballs at Wal-Mart seriously?
Rule 7: Listen to everyone in your company Figure out ways to get them talking. The folks on the front lines - the ones who actually talk to the customer - are the only ones who really know what is going on out there. You did better find out what they know. This really is what total quali ty is all about. To push responsibility down in your organization, and to force good ideas to bubble up within it,you must listen to what your associates are trying to tell you .
Rule 8: Exceed your customers expectations If you do, they will come back over and over. Give them what they want - and a little more. Let them know you appreciate them. Make good on all your mistakes, and dont make excuses - apologies. Stand behind everything you do. The two most important words I ever wrote were on that first Wal-Mart sign, Satisfaction Guaranteed. They are still up there, and they have made all the difference.
Rule 9: Control your expenses better than your competition This is where you can always find the competitive advantage. For 25 years running- long before Wal-Mart was known as the nations largest retailer - we ranked number one in our industry for the lowest ratio of expenses to sales. You can make a lot of different mistakes and still recover if you run an efficient operation . Or you can be brilliant and still go out of business if you are too difficult.
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Diversity:
The philosophy that drives diversity at Walmart is a natural extension of our company's core beliefs. Diversity is a key dimension of our commitment to our customers and associates: Treat them with fairness and respect, be their advocates, be sensitive to their concerns, value their differences, and serve and support them the best we can.
Our commitment to diversity is fundamental to our success, and we don't take our success for granted. Being a leading employer means that we have to set a good example a nd always strive to improve our efforts. That's why we created the Office of Diversity. The office fosters diversity throughout the company and ensures that diversity is interwoven with all of our associate programs, recruitment efforts, supplier relations, philanthropic initiatives, and community efforts. We affirm our commitment and pledge our full support to equal employment opportunities for all qualified people, regardless of race, color, age, sexual orientation, religion, disability, ethnicity, national origin, veteran status, marital status, or any other legally protected status. Our expectation is that all associates demonstrate sensitivity to and respect for our customers, suppliers, and other associates. It is also our expectation that all asso ciates are committed to our diversity initiatives.
We take pride in our diverse, mosaic family of associates, and we will continue to celebrate that diversity.
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Asian Enterprise Magazine list top 10 Companies for Asian Americans. Latinos Hispanic Magazine list top 50 Vendor Programs for Supplier Diversity. Black Enterprise Magazine list Top 30 Companies for African Americans. Hispanic Magazine list 2005 Corporate 100 - The 100 Companies Providing the Most Opportunities for Hispanics.
y y
Hispanic Association of Corporate Responsibility (HACR) Corporate Index Top 10. DiversityInc's list of the Top 50 Companies for Diversity.
Diversity Goals
We believe an inclusive workforce drives a sustainable business. We also believe itis important for a diversity program to be built around quantitative and qualitative components, buy-in from senior leadership, and review of diversity metrics and goals by the Board of Directors. Based on these beliefs, the Diversity Goals program was established in 2003. Placement Diversity Goals
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Filed management establishes objective goals for placing diverse associates at a rate consistent with the qualified, interested and available applicant pool in field management positions.
Home Office management captures the candidate slate for officer and director-level positions.
Tracks managerial leadership through encouraging involvement with diversity events and diverse organizations.
Requires managers to mentor at least three associates, including persons of diverse race, gender, or background.
2008 Accomplishments
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100% of company officers achieved Management Placement and Good Faith Efforts Diversity Goals.
99% of more than 50,000 managers across the company reached the ir Diversity Goals program objectives.
Efficient operations:
With its stated goal to be low cost leader .Wal-Mart has build a network of stores and offices that serve two important functions: it avoid the cost of building separate administrative offices, and it creates a close feeling between store management and customer while promoting a better work bond among co-workers .This design allows mangers to interact with the customer during business hours. Supportive system such as excellent distribution, as state of the art communications network, and certainly the associates have been given management the ability to manage the large scale growth while controlling operating cost. In early 1997 the company was recognized By computer world and Smithsonian Magazine as one of the top five innovators in information technology. This system provides sales data by item, by store, by day to vendor partners. This help supplier in save time and expenses in planning which translate in lower merchandise costs. Shrinkage occurs as a result of shoplifting, inventory shortages, and employee theft .Although the discount retail industrys average shrinkage per store is 2 percent. Wal -Mart pride themselves on a per store shrinkage of around 1 percent .With this low shrinkag e rate come clear rewards: stores that achieve target shrinkage rates earn bonuses of several hundred dollars each.
Distribution Network:
Wal-mart distribution system is another key component of its efficient strategy. Most stores are located with in 1 days drive of a distribution centre. Delivers are made to each Wal-mart store daily. The company recognizes that communication is the backbone to an efficient distribution network. Wal-mart budgets $ 500 million annually to its communication and information staff of 1200 professionals.
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Computer technology:
Wal-mart boasts the world largest private fully integrated satellite network. This satellite connects Wal-mart MIS to every Wal-Mart store and distribution centre in 45 states. as well as foreign operation in Mexico, Canada, brazil, china and other south pacific countries..Every store is connected o real time to real time to the corporate information centre in Bentonville so that each and every truncation is made online. The operational goal of this network is to provide better customer service and improve business efficiency. For instance if a credit transaction can be completed in 25 percent less time ,one checker can handle 4 customers in that time it took to handle three using t he manual system. Hence a checker can process more customers in the same amount of time In the event a particular store location does experience a stock -out associates are equipped to scan their an item electronically check its availability in other area s tores. Associates are given magic wounds .The wands help keep up to- minute track of the inventory on hand deliveries and back-up merchandise in stock at Wal-mart distribution centers.
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Services at store:
Great return policy. Separate podiums are being set up in the middle of the main isle behind the cashier area for customer queries. Photo gift card service. The capability to place a personal photo, business card and phrases on the front of a gift card plus the option to recharge the card at local Wal-Mart.
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Education:
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Relief:
Walmart and the Walmart Foundation have committed $2 billion cash and in-kind, stepping up efforts to help end hunger in America. Fighting Hunger Together Our "Fighting Hunger together" initiative includes four key components:
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Donating more than 1.1 billion pounds of food from Wal-Mart stores, distribution centers and Sams Club locations, valued at $1.75 billion;
Grants totaling $250 million to support hunger relief organizations at the national, state and local levels;
Mobilizing Walmart associates and customers. For example, Walmarts logistics team will lend their expertise to help food banks become more efficient in their operations; and
Collaboration with government, food manufacturers and other corporations that are fighting hunger to increase impact and reach a greater number of families in need.
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Haiti Earthquake Relief In response to the tragic earthquake in Haiti, our operations around the world, along with the Walmart Foundation, are responding. Disaster Preparedness Although disasters are truly devastating events, preparation for them is something that can help save resources as well as lives. Localized Efforts: When disasters strike, they can have a tremendous impact on a community. Fast, reliable access to vital supplies can make all the difference in areas that are facing overwhelming damage and destruction. At Walmart, we have the unique ability to draw from both our resources and our logistics network to distribute relief supplies to communities in need immediately after a disaster takes place.
Longstanding Partners:
The Walmart Foundation is proud to have developed relationships with several natio nal nonprofits over the years. Below are a few examples of how we work with these organizations to expand the impact of our work in the communities we serve.
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Every day, the American Red Cross responds to events, ranging from hurricanes, floods and tornados to smaller emergencies such as house and apartment fires. Our long -standing support of the American Red Cross is an important part of our disaster relief efforts.
Feeding America
Walmart is partnering with Feeding America, the nations largest hunger-relief charity, and enlisting its entire network of Supercenters, Neighborhood Markets and Sams Club locations to help those in need.
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Management Style:
Maintain an open-door policy Empowering associates Maintain technology superiority Build loyalty among associates, customers, and suppliers
Functional Strategies:
Same goods for less( charges 2-5%lower price) & still earns profit.
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Wal-mart international stores offer working families the things they need at prices they can afford, and offer the customer service and convenience theyrefamous for. In each of their international markets, they use their strength as a global company to meet the local needs of our customers, and provide help for their communities.
Saving People Money so they can live better. Saving people money to help them live better was the goal that Sam Walton envisioned when he opened the doors to the first Wal-Mart. Today, more than 40 years later with operations in 16 markets worldwide, Wal-mart continue to deliver that promise to families around the globe. Its the focus that underlies everything they do at Wal -Mart. And for the millions of customers who shop at Wal-mart stores and clubs around the world each week, it means a lot. Saving money good news in any language Every Day Low Price is a epicenter of the Wal-mart marketing strategy.
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Management at Wal-Mart strictly adheres to these commandments, and thats the key to their success.
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Corporate Strategy:
(Gain competitive advantage by) providing customers access to quality goods, when and where needed, at competitive prices Corporate Strategies
y y y
Differentiate themselves from their competitors To grow through new services and alliances Growth of the supply chain capabilities
Corporate Goals
Store openings
Globally in 2007, the company expects to add around 5.5 million square metres of gross retail space, which is a 7.5% increase. The company will open over 660 new units during the year. Buying strategy
Wal-Mart's buying power is immense and it is seeking to gain further efficiencies by increasingly shifting buying towards Asia. Pricing strategy
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Wal-Mart actively uses TV, press and radio ads to market itself, its low prices and new stores. Its US division is also home to the biggest instore TV network in the world. Increasingly, in the face of more vocal criticism, Wal-Mart is using its marketing initiatives to defend its reputation. Brand and Private Label Strategy
Private label development has been a cornerstone of Wal -Mart's success, and the company is developing similar ranges in all of its markets. An example is the internation al roll-out of the George clothing line. E-commerce
Wal-Mart has embraced e-commerce in a number of its core operating markets, although it is by no means a universal strategy throughout its international operations. Supply chain management
Wal-Mart's supply chain infrastructure and systems are the envy of the retail world. The company takes a very hands-on role in its supply chain operations and is keen to collaborate with suppliers to drive out I.T. strategy
A cornerstone of Wal-Mart's growth has been its Retail Link system. This EDI system enables suppliers and Wal-Mart to interact more effectively. Wal-Mart is also a keen proponent of RFID implementation within the supply chain.
Strategic Goals:
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Growth by expansion in the US and Internationally. Create widespread name recognition and customer satisfaction with the Wal -Mart brand, and associate the retailer with the reputation of offering the best prices.
Branching out into new sectors of retailing such as pharmacies, automotive repair, and grocery sales.
Job Analysis:
y Job Description
At Wal-Mart every employee gets his job description before starting his formal job after training as they are very much conscious about their employees sothey not only depend on job description but also employees are guided by the supervisor and the lin e manager or any other manager.
Wal-Mart offers the opportunity for you to start a career in a broad range of fields, such as in cashier sales, hospitality, inventory, stocking, customer service, management, maintenance, shipping and receiving, engineering, writing, programming, business development and pharmacy
Wal-Mart cashier Job description: A Wal-Mart cashier is responsible for effectively executing and adhering to the "Basic Beliefs" of the founder, Sam Walton. These beliefs entail showing the customer respect at all times, demonstrating outstanding customer service and settling for nothing less than excellence while performing daily responsibilities. Training 1. Wal-Mart cashiers are trained to provide excellent customer service. A cashier's training focuses on the 10-foot rule, which ensures every customer encountered at this distance is aided in a polite, serviceable manner.
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Corporate Careers Walmart.com Pharmacy Careers Independent Doctors Optometry Careers Truck Driving Careers
Human Resources:
Our philosophy is that management role is simple to get the right people in the right place to do job and then encourage them to use their own inventories toaccomplish the task at hand Sam Walton We have super stores in Wal-mart we have average people operating in an environment that encourages everyone to perform way above average David Glass
Most of us wear a button that says, Our people make the difference. That is not a slogan at Wal-mart it is a way of life .Our people really do make difference. David Glass
Culture:
Wal-Mart culture is most fearsome weapon .The company gospel is Be an agent consumer, find out what they want , and sell it to them for the lowest possible price One source describe Wal- mart as follows: The key to Wal-Mart success is the quality of their management, its style, and its recognition of their importance of the individual player in the overall team effort .other companies are
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People division:
Instead of personnel department Wal-mart has a people department .According to Von Johnston director of people division: we deal with people; people are our jobs. One of the board member suggested that we change our name to reflect our job and we di d This division is divided into five functions; store operation, warehouse personal, T&D, general office personal staff, and Walton life fitness centre staff. The primary focus of the people division is recruitments of new associates.
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Be prepared to answer whether or not you can prove your U.S. citizenship. Choose if you want to work at a Wal-Mart retail store, Sam's Club, or for Wal-Mart distribution and transportation. Choose the city you'd like to work in, and select a store or facility you're interested in.
y y
Provide your contact information - name, address, phone number, and email address. Fill out your scheduling availability.
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Provide two references. Complete your employment history - employers, dates worked, - up to ten years ago. Provide your qualifications, such as if you have any special skills or if you are bilingual.
Wal-Mart Employment Questionnaire Next, you will fill out a questionnaire in which you are asked to provide your age, and if you have ever been convicted of a felony, theft, fraud, or a violent crime. You need to answer whether you're available to work evenings/weekends, if you can work the night shift, and if you'd like to work full-time, part-time, or on temporary basis. You will also be asked the highest level of education you have completed, if you're a student, the lowest amount of money you would accept for the job, your past employment experience, if they can contact your past employers, when you can start working, along with answering questions that will determine if you are eligible to receive federal tax credits. Wal-Mart Pre-Employment Assessment Test This retail Wal-Mart assessment test has 65 questions in four sections. Section 1: Six multiple choice questions about customer and employee relations. They are looking to see what path you would take in handling conflicts that you might experience working in a Wal-Mart store. For example, they ask you how you would deal with angry customers, customer complaints, and conflict with coworkers. Each question asks a hypothetical situation and you choose the option which is most similar to how you would deal with the situation. Section 2: You are asked about work-related situations and you are asked to grade the effectiveness of different responses to problems. For example, they ask you if you think it is very ineffective, somewhat ineffective, somewhat effective, very ineffective, or neither ineffective or effective to ask your supervisor to schedule you to work with someone else when it comes to dealing with a difficult employee you don't want to work with. Also rate how much you disagree/agree with questions like, "I complete my tasks at work successfully" or "I feel I am an expert in what I do at work."
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A customer has complained about the same problem three times. Do you ask her to explain the problem and tell her you'll solve it? Do you say you will get the last person she talked to and let them solve it? Do you ask her to wait while you talk to the last person she talked to and find out why it hasn't been resolved?
A person in your department is habitually late, and the others in the department are picking up the slack, but they're getting mad about it. Do you tell her that she needs to start being on time? Do you mention being late at the next department meeting? Do you explain how it's affecting the whole department when she's late?
Do you do your job as fast as possible to meet the deadline without checking it? Or do you make sure you leave extra time to check it before turning it in, even if it may make it a little later?
Passing the Pre-Employment Test If you did not pass the Retail Pre-Employment Assessment Test or the Logistics Pre-Employment Assessment Test, you can retake it after 60 days. If you took the Supervisory Leadership Assessment but did not pass it, you can take it again in 6 months. Wal-Mart Interview Questions Do you have an interview scheduled or have you interviewed at Wal -Mart? Review interview questions and add your questions to the list.
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Associate training:
Upon being hired new associates must complete a new hire checklist and a 3-day orientation ,and they are immediately placed in position for on the job training .No formal training is provided by Wal-mart headquarters for hourly associates.OJT is Wal-Mart philosophy regarding associates training .Store manger and train and supervise employees .The use of video films is popular training technique, shown from time to time in Friday morning meetings .Topic of the videos vary from new cash register functionality to security policies. Wal-mart also use satellite television broadcast to retail management seminars to disseminate information from headquarters. Associates have every opportunity of advancement .the management trainee program is designed to give associates an opportunity to learn and apply basic skill necessary to advance
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Performance Evaluation:
Wal-Mart calls the process of performance appraisal evaluation. All managers and associates are evaluated annually. Associate are hired more than minimum wage and can expect to rise with in one year .New associates receive two evaluation during the first fiscal year. The first at 90 day and the second on the anniversary date. The four performance appraisal level are Below standard Above standard Standard Outstanding Assuming performance is above standard the employee receives raise at the 90 day evaluation and at the annual evaluation..Employees who are performing outstanding can receive rise in pay ant time during the year. All employees must be in their current position for at least 6 months before they are promoted to next leve
y Executive Compensation:
Wal-mart uses the compensation and nominating Committee and the stock option committee to help determine executive compensation parameters The Wal -mart compensation and nominating committee administer Wal -Mart stock option and restricted stock plans sets the interest applicable to the deferred compensation plan and reviews the benefits and benefits structure for executive officers. This committee has make nomination for directors..
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Wal-Mart has deferred compensation plan under which executives may defer compensation with its interest accruing on amount deferred. . Executive also participates in the Profit sharing plan which is doffed contribution to retirement plan with its assets primarily invested in Wal-Mart stock.
Reward System:
Store manger receive additional compensation based upon their store profit .Assistant store manger receive compensation based upon company profitability. All other persons are compensated on hourly basis with the opportunity of receiving additional bonuses based upon the company productivity and profitability. Shrinkage bonuses are implemented in 1980 to control losses from theft and damage. If a store holds shrinkage below corporate goal every associate in that store receive bonus .wall mart has paid several million dollars in bonuses for improving shrinkage problem. A very successful incentive program is its volume producing item contest where by departments with in a store have special promotion and pricing on items they want to feature .the contest is initially among departments in the store .result are compared among
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Benefits Packages:
Wal-Mart benefit program is extensive and very competitive in the industry .Te benefits package include 1. Profit sharing 2. Comprehensive health care plan and dental insurance for employees and their dependants. 3. Group life insurance and optional term life insurance plan 4. Business travel accident policy 5. Salary continuance. 6. Long term disability insurance 7. Paid vacation 8. Purchase discount 9. Store managers bonus program 10. Generous stock purchase plan.
Our benefits are designed to help associates meet their unique personal, family, and financial needs, and the program is divided into four areas:
Career Benefits Career benefits are designed to give each Associate every opportunity to grow, prosper, and advance in his or her career. Regardless of gender, color, religion, age, national origin, or sexual orientation, an Associate with the desire and the ability to get the job done will find many career paths and opportunities to explore. We also provide classroom training, computer-based training, in-store and on-the-job training, mentoring, and a host of other opportunities to give associates the knowledge and skills for a successful career.
Financial Benefits Financial benefits offer associates several ways to save and invest for their financial security. Our
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Health Care Benefits The foundation of our health benefits is to provide a choice of medical coverageoptions designed to protect associates from catastrophic medical costs. Health care benefits also include Life and Accidental Death and Dismemberment Insurance, Short and Long-Term Disability Insurance, and a dental plan that covers a range of general and major care.
Personal Benefits Our personal benefits include such extras as discounts on child care, education, and travel. Personal benefits also include medical and personal leaves of absence, long -term service benefits, and even a professional and personal associate counseling service.
Unlike its competitors in the retail industry Wal -Mart has remained non-unionized. Its alternative is an open door policy which aims to encourage employees to take their complaints beyond management. Wal-Mart employees commence at lower wages than unionized corporations, quitting by the end of the first year
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The average Wal-Mart associate makes between a paltry $12,000 and 17,000 annually. suggest that the company cares more about keeping its prices low than to increase employees wages and thus, in turn, their standard of living.
Summarizing
Richard
Drogin
Women Total
are earnings
employed about
in $5,000
lower more
hourly to
jobs women
Women are on lower hourly rates but have been employed longer than men Women scored higher in performance ratings
Over 95% of Store Managers and Co-Managers change stores at least once upon entering the positions. 80% of Support Manager promotions did not appear in job posting data . Wal-Mart's (Anon., 2003d) treatment of its female employees is characterized by a sexually demeaning atmosphere, where female employees are told that "women do not make good managers", that "a trained monkey" could do their jobs, and that women with kids couldn't be managers.
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Conclusion:
In conclusion, Wal-Mart is the number one retailer in the United States and is at the top of the Fortune 500 listing. Wal-Mart operates in many countries world-wide and is moving into new countries every year. Wal-Mart is also expanding as a retailer. They have expanded into many other sectors of the marketplace, including groceries, gas stations, electronics, and auto maintenance. Each year, Wal-Mart finds new ways to grow and offer more services to their customers. Each year, the number of people who have a stake in Wal-Mart also grows. Each year, more claims are made against Wal-Mart by the unions and other businesses that have been forced out of business. Wal-Mart is often able to uncut many other local industries and more and more local businesses are shutting down when Wal-Mart moves into town. The unions are filing more court claims against Wal-Mart because they encourage their workers not to join unions. As a result of Wal-Mart's ever growing size and variety of services they offe r, their public affairs department is going to become more and more important. And as the animosity against Wal-Mart becomes more widespread, here and in foreign countries, Wal-Mart is going to have to work harder to maintain their good reputation. Wal -Mart's foundation will become increasingly more important for giving things back to the community.
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Recommendation:
Introducing higher and equal incentives for both genders. Continue trade with china to reduce cost. Discovering new geographical opportunities. Being more concerned about employees.
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Clearly posted job openings/promotion opportunities and abolish implied relocation for Management positions :
Wal-Mart should ensure advertisements for any managerial or supervisory po sitions are easily viewable by all staff, and that there are no conditions attached to the job, ie. Relocation, non-flexible hours, which may result in women being hesitant to apply.
The diversity initiatives have managed to salvage what was left of its reputation and continues to slowly change the communitys perception of the company for the better. Wal Mart must also be extremely diligent when navigating international markets due to cultural differences in human resource practices. Potentially damaging misunderstandings may occur which will be reported and hyped up by the media, resulting in a loss of faith, trust and revenue.
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