You can follow the above search patterns for the other organizations you select.
ID: 455015 • Letter: Y
Question
You can follow the above search patterns for the other organizations you select. (Hint: Walmart is a good organization to use for one of your companies). As a result of your research, you should synthesize at least two best practices for each of the HRM functional areas. To begin your paper, provide a summary of key details about the organizations you are using to benchmark HRM best practices. Who are the organizations? What do they do? Why are they a good candidate for benchmarking? This section of you paper only needs to be a paragraph or two.
Explanation / Answer
Let us consider the company Walmart to benchmark HRM practices. Walmart is retailer who sells products at a competitive price. The pricing strategy of walmart made it a bid success and the company currently employe more than 2 million associates worldwide. Walmart is a good example to study the benchmarking process since they have a clean and clear strategy with respect to marketing and promotions.
There are various best practices in HRM, with respect to Walmart let us consider the employee recruitment and the employee retention programs. Walmart beleived in internal recruitment more than external recruitment. It relies on references, promotions, transfers than the external recruitments. They consider their employees as assets as they account for each and every penny that is spent on training and grooming the employee. They should be able to sell the right product to their customer. Selling and marketing play a very important role at Walmart. The retention policies that the company adopt can also be considered as the best benchmarking zones since they follow the following retention strategies:
All these are done at the right time to the employees and these ensures the employee retention process.
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