For a company to retain talent it must offer more incentives for the employees than that of its competitors. Your company encourages the decisions and ideas of the employees but more programs could be put in place to help retain employees. Implementing a program that offers rewards for time and cost savings not only benefits the employee but also the company by projecting a positive image of employee worth to the company. Keeping the companies hiring practice on the national level is required for all employees that work in the retail stores but if there is a need for technology or manufacturing of a particular product I would recommend global labor. The ability to tap into the global labor market will make the company more competitive by being able to offer competitive prices on products due to lower overhead cost associated with the offset in the labor cost.
Riordan will pay higher salaries to employees with high-level skillset to attract and maintain employees with these skills. In addition, this strategy will help the organization keep production running smoothly. The company understands it would cost much more in time, resource, and money to keep retraining new employees. Research and development strategy is part of the pride of the company. Riordan regularly creates and uses some of the most innovative processes and procedures to provide customers with the best product possible.
Streamline customer communications is a very efficient way of working because streamline customer communications deliver fast services, this is best way to keep customers satisfied and when customers’ are satisfied the business becomes more efficient because they are meeting needs and accumulating capital. Additionally, B&Q uses electronic communications to reduce staff costs as this plays a impacting role in the business s as it saves costs for them as the amount of staff needed are
Creativity and Innovation gives employees the opportunity to use their ideas to improve a job, product, or service ("Reference for Business; Encyclopedia of Business", 2012). Learning will give the employee the tools and the opportunities to accomplish more because most employees will take on challenges ("Reference for Business; Encyclopedia of Business", 2012). Quality of Life means creating programs that incorporate flextime, condensed workweeks, or job sharing to decrease stress on employees who are trying to balance their lives outside of work and work ("Reference for Business; Encyclopedia of Business", 2012). Monetary incentives are simply a way to reward employees
Marketing Plan for McBride Financial Robert Marler BSA/310 November 9, 2014 Joseph Rezendes Marketing Plan for McBride Financial The market, and what it can do for your company. A great marketing plan can go a long way for your company and making your more competitive with the competition. Think of reaching across the barriers of distance and time to bring in new clients extending your business needs across the globe while still staying in one location. So along came the Internet and globalizations. The Internet brought everyone right next door.
The types of jobs that would open up could be Communication Director, Marketing, Management positions, accounting, human resource, public relation, administration and economic, even research and development. Tuition reimbursement will help build the company by increasing confidence in the employees, retain employees, and attract quality employees. Hiring within the company shows goodwill we care. The company has an opportunity to give back and create a new culture that consist of goodwill and loyalty to their employees. Building a foundation that will growth from the inside.
It can also help us to win over new customers or even create customer loyalty from current customers. We currently have sufficient marketing strategies to increase loyalty and profitability of consumers. However, the organization can create more strategies to have long lasting success. According to "How to Develop Marketing Strategy" (2013), “A carefully planned marketing strategy provides continuous benefits to a company”
The board of directors must by law be composed of volunteers, which can be an advantage to the company. These are also internal factors that have helped the organization be successful that it will want to leverage and grow. Asset leverage; Loyal customers; Market share leadership; Diversified products. They are all the strengths of the ALL. Asset leverage allows ALL to use their best operational assets to expand their business and improve their market share.
Frank portrays that with arrangement and great sales approach, the sales targets would be achieved and there would be a boost up in the growth of the company (Green, et.al, 2011). Nevertheless, Thomas just concentrates on the thoughts of the item and tries to persuade how the item would produce benefits. Straight to the point work style included presentations, spread sheet models and business sector review and information; whereas Green was generally approaching customers (Partridge, et.al, 2014). Green had an extremely convincing identity and he had the capacity of persuading his customers about his thoughts. From reading the case study, it seemed as if he fails to offer the capacity to back up his thoughts and hypotheses with true market information.
“Business entities are distinct organizations in our society whose sole purpose is to increase profits for shareholders”(Kubasek et al., 2012, p. 192). Benji learned all about these types of companies when he attended Liberty University and now he is interviewing for a job with one of them. What Benji needs to realize is that as the narrative discussed not only will New Gen prey on the “fat and lazy” customers they also exploit their employees for economic gain. This aspect of New Gen is not alarming by itself, that’s why companies hire employees. This is symptomatic of a highly skilled corporate culture.