Brittney Cammack HRSM 4000: Fall 2014 Dr. Arnold Exam 3 By studying The Lincoln Electric Company managers can learn a lot about compensation and human resource management that should enable them to manage their organizations more effectively. Lincoln Electric, founded in 1895, has been extremely successful over the years. This success is mainly due to its compensation system, company culture, and its leadership style of management. Lincoln Electric provides lifelong employment to its employees who meet their production goals and they use a merit pay system. The company also pays an annual bonus averaging 60% of its worker’s salaries.
In a recent news article of CNN (CNN, 2014), Ford said it will pay an average of $8,800 to about 47,000 hourly U.S. workers, up about $500 from last year. They are going to pay record profit sharing checks to United Auto Workers members after posting record profits in North America (Isidore, C., 2014). Ford also took a very innovative approach for motivating employees, which is ‘ONE Ford Approach’. While they have many types of employees and work arrangements, all of their employees together create a skilled and motivated team aligned around their overall ONE Ford objectives. Their ONE Ford plan aligns our efforts toward a common definition of success: having ONE Team, ONE Plan and ONE Goal for an exciting, viable Ford that delivers profitable growth for all (Ford Corporate, 2013).
It is world renowned for its outstanding customer service and no-hassle philosophy. Current CEO of Zappos, Tony Hsieh, originally joined the Zappos team as an advisor and investor. He helped Zappos grow from minimal sales to over $1 billion in sales earning Zappos a place in Fortune Magazine’s The Best Companies to Work For List, (Levering, R. and Moskowitz, M., 2014). Zappos maintains a culture that is driven by the vision of its leaders and is the core of it employees, as a family. Examine the culture of the organization.
In the UK & Ireland, Kraft's power brands are: * Kenco® * Philadelphia® * Dairylea® * Terry's Chocolate Orange®. The company's other major brands include Maxwell House® coffee, Terry's All Gold® and Toblerone® confectionery. The staying power of these brands is undisputed - some already have over 100 years of sales behind them. In addition to having high quality brands, Kraft's success owes much to its talented and dedicated employees, who strive to achieve the company's vision of 'Helping people around the world to live and eat better'. Kraft worldwide currently has over 100,000 employees, operating in 150 different countries.
Fords mission states “We are a global family with a proud heritage, passionately committed to providing personal mobility for people around the world. We anticipate consumer needs and deliver outstanding products that improve people’s lives” (Ford, 2009). The Ford Motor Company was founded in 1903 with $28,000 cash from twelve different investors. In the first couple years the company just produced a few Model T's and groups of 2 or 3 men would assemble the cars (Wikipedia, 2011). It then grew into one of the most successful and profitable companies in the world.
The survey, conducted by the American Management Association and called the AMA Critical Skills Survey 2010, involved 2,115 managers and executives around the world. It found that critical thinking was regarded as the most important skill employees could contribute in helping their companies to grow. It ranked higher than innovation or mastery of information technology. Globalisation, the increased flow and complexity of information and constant changes in the business environment all demand that employees have excellent critical-thinking skills so they are able to adapt to new roles, understand issues quickly and solve problems gracefully, the firm said. http://www.nationmultimedia.com/2011/05/04/business/Importance-of-critical-thinking-30154554.html The Importance of Critical Thinking Written on January 3, 2009 by Sandy in Great Self-Care http://sandykumskov.com/importance-critical-thinking/ Critical thinking is an incredibly important skill.
The motivators are typically related to intrinsic factors meaning work motivation coming from within a human being. These include: a sense of achievement, recognition, responsibility and opportunity for personal growth and advancement. The two-factor theory suggests that the intrinsic rewards will more likely motivate individuals rather than the possibility of extrinsic rewards, meaning the hygiene factors, such as salary enhancement, security or improved working conditions. From the beginning a thorough induction process “Welcome to the World of ECCO” is presented to new employees so they can learn everything about the company and the importance of their role, which encourages intrinsic factors such as recognition and personal involvement in their new workplace. Herzberg’s theory is relevant in this case as it argues
Whirpool : A Case Study swot analysis: Strengths • Whitwam’s eleven years as CEO of Whirlpool helped it become the largest appliance maker in the world by improving its cost & quality levels. • First company to introduce top loading automatic washer. • Economies of scale in manufacturing and distribution. • Experts in driving channel sales. • Good HR policies, work culture and values in the organization.
When people believe they can make a difference in an organization, they are more motivated and effective at their jobs. That is why Xerox commits to fostering open communication between employees and management ("2014 Report On Global Citizenship", 2015). Xerox is a company that values commitment and growth in the organization providing opportunities for employees to develop as leaders and move into leadership positions as employee careers progress. The Chief Executive Officer herself worked her way from an internship. The success of the Xerox organizational structure shows in their financials and employee satisfaction ratings of 73%.
Communication, behavior, and appearance are three are the crucial factors that make a great professional employee, as these are characteristics that can contribute to a company in its goals to be profitable. Most businesses, no matter the industry, sets certain guidelines to which its employees are expected to adhere to, these rules are usually explained in the employee handbook. Professionalism is essentially, the knowledge that an individual conveys about a certain field. At work, professionalism refers to a person doing his or her job with sincerity, and maintaining professional etiquette and ethics in the workplace. Companies specify which behaviors are acceptable, and which are not, when they first start the hiring process for a new employee.