This paper looks into the Human Resources Best Practices at Whole Foods Market. Specifically, this paper is divided into three different sections which each identify the best practices as they pertain to different focuses. First, employee morale is examined, featuring how Whole Foods Market engages employees through a corporate culture of empowerment, ensuring pay and benefits exceed competitors, interacting with local communities, and through training and development. Next, corporate wellness programs are examined. Whole Foods’ is focused upon healthy living for its customers and its employees as is evidenced by its programs. These programs focus on wellness and flexible spending accounts, discounts on health insurance premiums for employees who demonstrate high health factors, and in the United Kingdom, a tax-free bicycle leasing program. Finally, executive compensation is explored. While executive compensation is scrutinized today for executives prospering while nearly 10% of the U.S. workforce is unemployed, Whole Foods’ CEO has taken steps to create a pay environment that is focused on success for all stakeholders. This has been accomplished through executive salary caps, minimizing the salary gap between employees and executives, and even reducing his pay to $1 per year.
Whole Foods Market’s Human Resources Best Practices
Whole Foods Market has taken its place in Fortune magazine’s 100 Best Companies to Work For, earning a spot at number 24 for 2011 (CNN, 2011). Some of the reasons cited are a company focus on living a healthy life and discounts for items sold in their stores. However, these seemingly ordinary perks do not add up to being continuously highly ranked as being a great company with which to be employed. Instead, Whole Foods Market has adopted an entire corporate culture that focuses on shareholders; customers, employees, and communities all prosper from Whole Foods Market’s programs. And it is these programs and human resources practices that make Whole Foods Market not just a Top 25 company, but also an example of how to successfully run a company that focuses on more than the bottom line. This focus is based upon human resources best practices in the areas of morale, wellness, and pay and benefits. Morale at Whole Foods Market is clearly high, as evidenced by the Fortune ranking. The focus on a corporate culture of empowerment, ensuring pay and benefits exceed competitors, interacting with local communities, and training and development set standards for other companies to emulate. In the wellness category, Whole Foods Market’s practices of providing employees with wellness and flexible spending accounts as well as discounts on health insurance premiums for employees who demonstrate high health factors are focused upon an overall corporate culture of health and wellness for all stakeholders. Pay disparities are minimized by capping executive salaries as a multiplier of average employee salaries. Ultimately, the corporate culture itself is the driving force behind Whole Foods Market’s effectiveness at creating a company that sets standards for stewardship of resources, employees, communities, and customers. Morale
Whole Foods Market is no Pioneer of effective human resources practices that lead to high morale and employee loyalty. However, Whole Foods Market does take morale of its workforce seriously and has implemented a wide variety of different human resources and general business practices that enhance both performance and morale. Their focus on high employee morale is made very clear in their Core Values where the third listed value is, “Supporting Team Member happiness and excellence” (Whole Foods Market, 2011). Culture
In terms of company culture, Whole Foods Market does not attempt to impose their culture on new acquisitions. Instead, Whole Foods Market often adopts the successful culture and human resources practices...