American Express Company, sometimes known as AmEx, is a diversified global financial services company headquartered in New York City. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. At present, there are 58,300 employees worldwide working in American Express earning annual revenue of $24.5 billion. Its assets are valued at $124 billion, with $620 billion in annual purchase volume on American Express Cards and $87.9 million cards-in-force.
Each day, American Express makes it easier, safer and more rewarding for consumers and businesses to purchase the things they need and for merchants to sell their goods and services. An engine of commerce, American Express provides innovative payment, travel and expense management solutions for individuals and businesses of all sizes. Most of all, it helps the customers realize their dreams and aspirations through industry-leading benefits, access to unique experiences, business-building insights, and global customer care. It enables its customers to do more and achieve more.
The vision of American Express is to work hard every day to make American Express the world’s most respected service brand.
“Living up to our values is our first priority.”
They believe in three operating principles they are:
Offer superior value propositions to all of the customers
Operate with best-in-class economics
Support the American Express brand
American Express is the world's largest card issuer by purchase volume. They process millions of transactions daily as the premium network for high-spending card-members. The American Express is also known for helping small business owners succeed by delivering purchasing power, flexibility and financial control. Adding on to its roles American Express also provides commercial payment tools and expertise that help companies control their spending and save billions of dollars, offer marketing and information management insights that help merchants build their businesses. The American Express employees are customer loyal experts with industry-leading rewards programs and platforms. They operate the world’s largest travel network serving consumers and businesses and are recognized as the most innovative company in our industries. They are dedicated to serving their customers, 24/7, around the world.
The Values which they operate on reflect who the company is and what it stands for as a company. They believe in Customer Commitment, Quality, Integrity, Teamwork, Respect for People, Good Citizenship, Will to Win Personal and Accountability.
Human Resource Practices at American Express
Being a service industry firm, the employees form the base of all its operations and so the company gives a lot of importance to its HR practices which starts from assessing the need for new employees or new recruits. At American Express it starts with Projecting head counts, Assigning requisition number, identifying relevant profiles and estimating the number of candidates.
The recruitment process starts with projecting the head counts i.e. by assessing how many candidates are required at a particular point in time in various departments. As per the requirements identified for different departments the company assigns a Requisition Number which differentiates various job requirements from one other. The Requisition Number is a unique code assigned by the company to different jobs which consists of the job description, minimum requirement for the job and the selection criteria. American Express then identifies the profiles that are relevant as per the requirements given by the Requisition Number and then estimates as to how many candidates will actually appear for the selection process.
The company uses different sourcing channels for identifying relevant profiles as per its requirements. American Express uses both internal as well as external...