Wesfarmers Ltd is one of the leading retail stores, located in Perth, Australia. The company made its humble beginning in 1914 in the form of a cooperative for dealing in merchandise and services to the farmers living and working in Western Australia. It operates primarily with the retail stores of New Zealand. It provides various agricultural products such as chemicals, fertilizers, mining, coal, and other manufacturing and safety goods. Moreover, Wesfarmers has become the biggest organization in terms of revenue, as it generated over 65 billion dollars in the financial year of 2016. It has also overtaken Woolworth and BHP Billiton, and provides employment to Australians at a large scale. It currently has more than two lakh employees. Also, in 1984, the company became listed on Australian Securities Exchange, and emerged as a prominent retail multinational
In August, 2015, the organizational structure and top management of Wesfarmers were changed in order to modernize the overall management system and place the organization on a better position for its long-term growth. The three manufacturing businesses of Wesfarmers named, Chemicals, Energy and Fertilisers, Resources, and Industrial and Safety are planned to be grouped under a single industrial department, and Rob Scott will be appointed as a new Managing Director of this unit. Anthony Gianotti has also been employed as Finance Director of this new industrial unit, who was earlier the MD of Insurance department of Wesfarmers. Also, the former WIS MD of the company, Olivier Chretien will be appointed as a new manager who will be responsible for Business Development and Corporate Planning operations of the organization. A new role has also been designed for Tim Bult, where he will be responsible for administering business related areas and planning the company’s offshore network expansion all over the world.
Stewart Butel and Tom O’Leary, the Resources Managing Director, and WesCEF Managing Director of Wesfarmers, respectively are in charge of reporting business activities to Mr Scott who in turn reports to WIS. Mr Chretie, and Finance Director of the company, Terry Bowen. In order to make the organizational system more effective and smooth, the duties of Rob Scott for providing financial services are transferred to Roger Sniezek, the Digital Director of Coles. However, the rest of the departments of Wesfarmers, such as Home Improvement and Office Supplies, Kmart and Target, are untouched by the transitions. The MD of the organization, Richard Goyder aims at restructuring the company’s reporting and decision-making procedures in order to move towards advancement of the company. This new organizational transformation is likely to improve the pattern of knowledge sharing among different departments, and promote the overall business performance as well as the culture of the workplace for its development.
The Human Resource team of Wesfarmers is very talented and committed to facilitate people related results in order to support the management in attaining high level of growth and efficient sustainable performance. The HRM system of the organization is dedicated in building and executing skilled and competitive employees. Also, the team attempts align business policies at each step of the life cycle of the staff hiring and appointment. It also focuses on improving induction and training sessions for staff and enhances rewarding and development programs. Moreover, the system is a professionally developed team player possessing excellent interpersonal capabilities and a desire for offering better results to create highly loyal, proficient, and satisfied personnel in the workplace.
Wesfarmers has built a better legislative, organizational, and business ethics framework for its people. The corporate governance system of the company is strong enough to direct and control the employees’ behaviour. The management uses an effective approach for creating more value for all the stakeholders of the company, including the community. The Board of Directors of the company is responsible for designing the frameworks which is driven by the corporate governance statement. The statement constrains all the necessary information regarding director profiles, Group regulations, and committee charters.
The frameworks established by the management are consistent with the company’ code of conducts and ethical sourcing policy. The people working in Wesfarmers are loyal to create enhanced economic, shared, and organizational contributions to the society. The code of conduct of the organization includes the principles of fairness, equality, integrity, value, and respect. The policies are strictly against the discriminatory practices, harassment, child labour, and promise a safe and healthy working environment to its people at the workplace. It also facilitates its employees to exercise their basic rights and collective bargaining. Some of the major policies of Wesfarmers in this regard are:
The company attempts to discover and represent the existing or potential negative effects with which the management may be involved either directly or otherwise, via their own conduct or business relationships. The company manages these threats by integrating the feedbacks into the internal system of the organization. It involves finding, and tracking the behaviour and interacting with the interested parties on how the management address these impacts.
In order to reduce or eliminate the risk of unethical activities in the supply chains of the company, Wesfarmers’ HR team use an ethically strong audit program. The relations are made with only those international suppliers who operate more regulated countries and deal in exclusive brands. In 2016, the audit program of Wesfarmers enclosed more than 3000 supplier sites for manufacturing house-brand products for resale, throughout global and domestic supply chain.
The HR management of Wesfarmers keep the buying and sourcing teams informed on company ethical sourcing standards and the ways in which their actions affect worker rights. In this regard, ethical sourcing training is provided to the members in the retail business as well as supply chains to update their knowledge on this matter. HRM is also committed to develop awareness regularly for the employees on human rights, and worker rights, and motivate them to communicate without hesitation on any issue, they want to. Grievances channel is also facilitated for them to address their concerns. The company also supports the grievance mechanisms for its clients, customers, and suppliers.
Moreover, the products offered by the company are safe to use and satisfy changing needs of different customers. All the goods are manufactured strictly following the consumer laws of various countries where it operates. The company does not sell products which are legally banned and make sure that the processes comply with the applicable law body and standards before they reach to the ultimate customers. Also, the company is against the practices of bribery and corruption, and other illegal conducts. Wesfarmers’ values are inconsistent with country’s laws and regulations. Various laws which are compiled by Wesfarmers in home as well as abroad include Australian Criminal Code, the US Foreign Corrupt Practices Act and the UK Bribery Act. The policies of Wesfarmers aim to fix the responsibilities of every individual working in the company, and deliver information and direction on how to identify and deal with the cases of bribery and fraud.
The constant professional advancement of employees in Wesfarmers ensures that the organizational people experience new challenges and grab opportunities so as to make their contribution more valuable and rewarding, not only in their professional but also in personal development. For this purpose, the employees are provided with effective training and learning programs to make them future leaders. These training programs include Regional and Branch Manager Development Program, and also Industrial and Safety Development Programs, to make employees more efficient and productive. Other training programs include iLEARN which is an innovative learning method. This method helps all the employees of Wesfarmers to have access to online and self-paced training at their own convenience.
Another system of training employees includes educational assistance, which facilitates all workers to enrol for different courses they desire to undertake. It aids them to carry out professional study to enhance their development. All the existing personnel within the organization have the opportunity to apply for educational assistance before enrolling in a specific course. Thus, the company establish and communicate effective training and development sessions aligned with the concerned Code of Conduct, and it is sustained by detailed Group policies, divisionally specific accounting policies, and regular staff training.
In order to calculate Return on Investment in Human Resources, in Wesfarmers, the net profit of the organization will be divided by the total salaries paid and benefits.
For 2016, the net revenue after tax, of Wesfarmers is $m 407
Total salaries paid are $8.4
So, ROI on HR is 407/8.4*100
= 71.89%
The process is done by evaluating the data of the organization using balance sheet and income statement. Then a procedure is developed to assess the costs saved by correlated reductions in turnover. Diversity plans, HR information systems, training and development and administering process are also measured measured in the ROI calculation. Then this procedure is applied to finally compute the ROI.
The Employers Association’s in Wesfarmers has been formed such as onsite HR Solutions in order to provide professionals to work on a varied range of HR assignments. The company maintains a certain group of seasoned professionals to gain HR support. It also helps in saving time and money by sourcing individuals with specific skill sets for vacant positions, The HR professionals deal with the projects ranging from serving as the data-to-day interim HR manager to distinct projects like employing, developing pay scale and salary programs, payroll and benefits administration, and, updating job descriptions.
Wesfarmers designs Diversity Policy which summaries four essential objectives used to measure performance in the organization. In this context, specific targets are connected to top management key performance objectives under a yearly incentive plan along with a diverse portfolio of businesses and trades. Following approaches are adopted by Wesfarmers in measuring work performance:
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