Worker Retentions Program
All organizations want to see an increase in productivity and a positive impact on the bottom line. Successful organizations realize employee retention and talent management is integral to sustaining their leadership and growth in the market place. The focus of this group project is on worker retention strategies. Worker retention strategies are programs designed to preserve existing quality workers by providing benefits and incentives. These benefits and incentives are provided to employees in various ways. Our group chose to explore six organizations in three different industries. These industries include Retail, Package shipping, and Airlines. Through research and investigation of three major industries we were able to develop a comparison of how these major organizations retain quality workers. First, we explore and learn how to keep people motivate to stop turnover within an organization. Secondly, we investigate employer's benefits and incentive programs to keep quality employees. Finally, we examine workforce motivation and the engagement to commitment as organizations continually change initiatives and strategic planning.
TARGET VS. WALMART
Target and Wal-Mart have many similarities on their retention programs. Despite the difference in the size of their companies, they are both large enough to allow their employees to switch career paths within their own organization. Wal-Mart offers its employees different opportunities in many diverse department of the huge operation. They are retail, real estate, public policy, merchandising, logistics, IT, marketing, and advertising. Target offers similar areas of careers within the organization. Many other motivation tools are used for both Target and Wal-Mart to keep their employees happily employed. Merit increases in pay based on company performance are used almost the exact same way in both companies. They both have annual increase that depends on individual performance and company performance. Target gives its employees 25 cents per hour raise after 90 days in order to keep new employees. Holiday bonuses are offered to all Wal-Mart employees who have been with the company over one year. Gifts and celebration are another excellent way to show their employees that their executives care. Both Target and Wal-Mart managers use opportunities like holidays and birthdays to show their appreciation of their employees. By selecting an employee of the month, it gives management a chance to recognize the employee's talent and to promote friendly competition among the employees. Target and Wal-Mart both have these programs in place. Allowing flexibility in scheduling means that the employees have the chance to control their own work life. Both Target and Wal-Mart allow their employees to choose their own schedule to fit their own personal life. That is a great way to keep single parent, student and senior to stick around for their companies. Having a chat session once in a while allows employees to share opinions and a chance to help make their own companies better. Target has chat session at least once a week while Wal-Mart has one annually. Education has become a big issue in this society. Everyone wants to get ahead by earning a degree or advanced training. Providing an education system for your employees could mean staying instead of leaving. Target offers tuition reimbursement for team leaders who want to earn a business related degree. Wal-Mart pays for tuition and books for any employee who wants to complete a GED. They also offer discount for selected online colleges for all associate. Target Corporation lead by Bob Ulrich, Chairman and CEO and Gregg Steinhafel; is the second largest general merchandise retailer in the United States. Target opened...