Discuss about the Quality Brands and Trusted Retailing.
The role of the “Human resource management” href=”https://#”>Human resource management” team has become much more diversified as well as important in the present times. This is a reflection of the growing business of the various business organizations and also the increased level of competition which the various business organizations face in the present times (Bratton and Gold 2017). Therefore, the various business organizations often take the help of innovative and resourceful strategies or policies in a bid to retain their existing employees and also to recruit fresh employees for the business organization concerned (Bratton and Gold 2017). Furthermore, training has also become one of the most important functions of the present day “human resource management” href=”https://#”>human resource management” teams (Hendry 2012). In addition to this, the various business organizations also take the help of various innovative strategies to reduce the stress level of the employees and also to reduce the rate of employee turnover (Hendry 2012). This report will provide an overview of the HRM policies of the company Woolworths Limited in the nation of Australia.
The company “Woolworths Limited” was founded by “Percy Christmas, Stanley Chatterton, Cecil Scott Waine, George Creed and Ernest Williams” in the year 1924 and “is currently the 19th largest retail company in the world in terms of the revenue which it generates on an annual basis” (Woolworthsgroup.com.au. 2018). It is one of the major business organizations in the nation of Australia and has active “extensive retail interest throughout Australia and New Zealand” (Woolworthsgroup.com.au. 2018). Furthermore, the company operates in the retail sector and has more than “69 shopping centers” in the various parts of the nation of Australia (Woolworthsgroup.com.au. 2018). It is significant to note that the company currently is the second largest retail company in the nation of Australia. The company “offers a range of products to the customers taking into the various requirements and the needs of the customers”. In addition to these, it is “significant to note that the company is the largest takeaway liquor retailer in Australia, the largest hotel and gaming poker machine operator in Australia, and was the 19th largest retailer in the world in 2008” (Woolworthsgroup.com.au. 2018). Some of the financial statistics of the company are listed below
The company has more than 202,000 employees and operates in diverse parts of the nations of the Australia and New Zealand (Woolworthsgroup.com.au. 2018). The vision of the company is to become the largest retail company in the nation of Australia and also to provide the best quality of services to its customers. It is significant to note that the growth rate of the company has been phenomenal in the present times. The company announced a significant loss of “$1.235 billion for the 2016 financial year on 25 August 2016” (Woolworthsgroup.com.au. 2018). However, the company still managed to earn a significant profit of more than $41.15 Billion solely on the basis of sales (Woolworthsgroup.com.au. 2018).
The HRM policies as well as principles of the company are directed to “bring about the overall growth as well as the development of the company concerned” (Briscoe, Tarique and Schuler 2012). Therefore, with this particular inherent purpose the principles as well as the policies of the company are in synchronization with the “goals and the objectives of the business organization” concerned. It is significant to note that one of the primary goals of the “HRM policies as well as principles of the business organization” is directed towards the achievement of the process wherein the “HRM team and executive leadership are working towards the same goals” (Briscoe, Tarique and Schuler 2012). It is significant to note that for the for the achievement of this particular purpose the business organization takes the help of various innovative strategies like effective leadership, the regular training of the employees, providing information to the employees about the goals as well as the objectives of the business organizations and others (Buller and McEvoy 2012). Another significant role of the HRM in this particular business organization is to ensure that the rules as well as policies followed by the business organization are in synchronization with the various federal rules and regulations (Buller and McEvoy 2012). The HRM of the company concerned also conducts regular recruitment in a bid to cater to the growing needs and the requirement of the organization. Furthermore, the HRM of the company concerned also develops strategies to ensure that the environment of the workplace is especially congenial for working and also takes the help of various policies to reduce the level of stress faced by the employees and also to enhance the job experience of the employees. In addition to that, the HRM of the company also takes care of the training which is being provided to the employees in a bid to equip them with the necessary skills so that they can perform better at their jobs (Buller and McEvoy 2012). Furthermore, the HRM of the company also provides some advance trainings to the existing employees so that they meet the increasing demands of the occupation and are equipped with the necessary skills.
The HRM principles as well as the policies of the companies has been designed not only to synchronize the goals as well as the objectives of the organization with the personal goals of the employees but also to considerably reduce the cost incurred by the company for the purpose of the recruitment of the new employees (Mishra, Boynton and Mishra 2014). It is significant to note that the HRM of the company provides a higher low wage to the employees, takes the help of various effective strategies to reduce the stress level of the employees, motivates the employees in an effective manner and also provides regular training to the employees in a bid to enhance their performance and also to reduce the rate of employee turnover (Mishra, Boynton and Mishra 2014). The primary focus of the HRM of the company is to reduce the rate of employee turnover as that would not help the company to have a stable staff but would reduce the cost of recruitment and training significantly (Alfes et al 2013). Furthermore, the HRM of the company organizes regular fun activities where the various employees of the company can reduce the level of stress faced by them.
“Employee engagement” is one of the primary areas of focus of the HRM team of the company Woolworths Limited in the nation of Australia. In the opinion of many people, an “engaged employee is one who is fully absorbed by and enthusiastic about their work and so takes positive action to further the organization’s reputation and interests” (Shields et al. 2015). The process of employee engagement is used by the HRM team of the company concerned to not only create a team environment in the workplace but also to enhance the organizational performance of the concerned company (Trussv et al. 2013). Thus, the company takes the help of various activities to make the employees feel a part of the company and also to foster a team environment within the organization. In addition to this, the various employees are taught to work in a coordinated manner “to achieve the goals and the objectives set by the company” (Trussv et al. 2013). It is a reflection of this that the workforce of the company Woolworth is one of the most coordinated workforces in the nation of Australia.
There are various means of which the process of employee engagement can be enhanced. Some of the ways by employee engagement are listed below-
Conclusion
To conclude, from the above discussion it becomes apparent that the HRM team forms one of the core components of the business organizations. The HRM team is entrusted not only with the process of the recruitment but also with various other important functions like the process of training, induction, the synchronization of the goals of the company with the goals of the individual employees and others. Therefore, the role played by the HRM becomes significant in this particular context. Furthermore, the HRM also indulges in the organization of various fun activities and others in a bid to enhance the process of employee engagement and also to reduce the level of stress faced by the employees.
References
Alfes, K., Shantz, A.D., Truss, C. and Soane, E.C., 2013. The link between perceived human resource management practices, engagement and employee behaviour: a moderated mediation model. The international journal of human resource management, 24(2), pp.330-351.
Bratton, J. and Gold, J., 2017. Human resource management: theory and practice. Palgrave.
Briscoe, D., Tarique, I. and Schuler, R., 2012. International human resource management: Policies and practices for multinational enterprises. Routledge.
Buller, P.F. and McEvoy, G.M., 2012. Strategy, human resource management and performance: Sharpening line of sight. Human resource management review, 22(1), pp.43-56.
Forbes.com. 2018. Forbes Welcome. [online] Available at: https://www.forbes.com/companies/woolworths/ [Accessed 12 Apr. 2018].
Hendry, C., 2012. Human resource management. Routledge.
Mishra, K., Boynton, L. and Mishra, A., 2014. Driving employee engagement: The expanded role of internal communications. International Journal of Business Communication, 51(2), pp.183-202.
Shields, J., Brown, M., Kaine, S., Dolle-Samuel, C., North-Samardzic, A., McLean, P., Johns, R., O’Leary, P., Robinson, J. and Plimmer, G., 2015. Managing Employee Performance & Reward: Concepts, Practices, Strategies. Cambridge University Press.
Truss, C., Shantz, A., Soane, E., Alfes, K. and Delbridge, R., 2013. Employee engagement, organisational performance and individual well-being: exploring the evidence, developing the theory.
Woolworthsgroup.com.au. 2018. Woolworths Group: Quality Brands and Trusted Retailing. [online] Available at: https://www.woolworthsgroup.com.au/ [Accessed 12 Apr. 2018].
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