Job Satisfaction within Hasbro
Hasbro, a toy company that many of us have known since childhood has grown into more than just a toy company. Founded in 1923 by Henry and Merrill Hassenfield the company that we have grown to know and love did not start off as a toy manufacture, but was actually a company that produced textile remnants and ran under the name Hassenfield Brothers. Over the next two decades the company expanded production to include pencil cases and various school supplies; it was not until the 1940’s that the company took on the name Hasbro and produced its first toy, Mr. Potato Head (Arnerson, n.d.). Mr. Potato Head was an instant success and the company only grew from there.
Throughout the next few decades Hasbro had rapid expansion and acquired numerous toy companies. The first major company that Hasbro acquired was Milton Bradley in 1984. Milton Bradley had many well-known products within its firm, such as Playskool, Candy Land, Twister, and Battleship (Arnerson, n.d.). From there on Hasbro acquired more and more toy companies. The next large-scale acquisition took place in 1991 when Hasbro attained Tonka. Tonka at the time similarly to Milton Bradley had many well recognized toy products. This major take over gave Hasbro some of the biggest names to this day, including Monopoly, Clue, Sorry!, and Risk (Arnerson, n.d.).
Financially the company has maintained a positive direction of growth. The positive trend of growth has a lot to do with its president and CEO Brian D. Goldner who has been with the company for over twelve years (“Corporate information,” n.d.). Goldner has been awarded several different titles such as being named the CEO of the year by marketwatch.com (“Corporate information,” n.d.). Glassdoor, a website that allows employees to give feedback to the companies they work for provided Goldner with a 90% approval rating (“Hasbro reviews,” n.d.). With his affirmative leadership Hasbro managed to snag the 59th spot out of the top 100 companies to work for in Fortune Magazine (“Corporate information,” n.d.). For this project we selected the topic of job satisfaction. Job satisfaction “is a pleasurable emotional state resulting from the appraisal of one’s job or job experiences” (Colquitt, 2011). This pertains to how an employee feels about their job. There are three concepts that help to define whether an employee is pleased with their job. The first theory is the Value-Percept Theory; this “argues that job satisfaction depends on whether you perceive that your job supplies the things you value” (Colquitt, 2011). The second is the 3 Critical Psychological States, “these psychological states are what make the work satisfying” (Colquitt, 2011). The third, and final, theory is the Job Characteristics Theory (VISAF) which “argues that five core job characteristics result in high levels of the three psychological states, making work tasks more satisfying.” (Colquitt, 2011) The Value-Percept Theory includes five aspects that employees use to evaluate their job satisfaction. The first aspect is pay satisfaction which describes the employee’s positive or negative feelings about the pay they receive (Colquitt, 2011). This facet compares whether or not the employees believe that the pay they receive is equal or comparable to what they think their pay should be. At Hasbro the employees are fulfilled with the way in which the company compensates them. The salaries range from $23,920 to $93,454 with the average salary being $73,302 (“Hasbro salary,” 2011). The median salary people earn in the Pawtucket area is $39,614 (“Pawtucket, RI,” 2012). Not only are the wages generous given the average income in the area, but the company is also closed the week between Christmas and New Year’s with the time off still being paid (“Hasbro salary,” 2011). Thinking about the future of their employees the corporation also sets in place a generous 401 (k) match in addition to annual company contributions towards...
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