Walmart performance managment

  This term paper is for a performance management course (major business management and human resources) please write an overview of the company Walmart, conduct independent analytical research, is there some type of job ladder in this company? does this company satisfy employee needs?, input? accountability? are there any guarantees of equity? are managers treated differently? what is the coaching process like? use the paper I have already done as a guide and make it better!! below is the feedback from my professor: " Hi, Ahniya. Sorry for the late grade. This paper touches most of the important questions. For example, no one else dealt explicitly with primary labor markets. However, you did not apply these concepts critically and confused Wal-Mart policies and government programs. You can make this a great paper with a more careful critique." I have copy and pasted the first draft of this paper below: 1. Introduction to Performance Management Performance management is a continuous process where integral focus is made upon reviewing upon an employee’s working style, his objective of work and his contribution towards overall objective of organization. The managers and employees of a company collectively make efforts to plan, monitor and regularly reviewing the performance of employees. The performance management system has redesign the conventional annual performance review system by continuous performance measurement, setting and stating clearly the objectives of job, assessing continuous performance, ensuring on-job training or coaching and setting up a comprehensive employer feedback system in order to ensure that the stated goals are properly fulfilled by employees (Alnoor & Rangan, 2010). 1.1. An ideal Performance Management System (The Wal-Mart Company) We take the company profile of Wal-Mart and its performance management system by checking that it has features of an ideal performance management system, the primary and secondary labor markets available to this company and the continuous job ladders. The other points of consideration are its mission statement, vision statement, strategic plan and the implication of strategic congruence. It is pertinent to state that the training, performance management system and the HR management capability of Wal-Mart are the major contributor in achieving the global expansion of company. Wal-Mart has adopted the policy of specific knowledge based HR needs, skills and abilities required for all over world operational activities (panmore.com, 2017). The company has also ensured trainings in such a way that it could handle daily job tasks, and getting ability to get adjustability in emergent conditions of every country where it launches its operations. The basic goals of human resource are: • Cost effective but highly performance oriented training programs • Ensuring an increase in employees’ productivity • Enhancing employees’ abilities according to requirements of local industry of of host country 1.2. Primary and Secondary Labor Markets of Wal-Mart The Wal-Mart company has ensured that the primary labor market must got high wages rate, providing them social security and long lasting career growth. It has also designed a mechanism that employees of such jobs must be well educated, posses the job relevant skills and abilities. The top management of the company is from primary labor market whereas the lower labor is usually taken from secondary labor markets from host countries where Wal-Mart launches its operations. The company has designed policy for secondary labor markets as low wages job, less career growth and less mobility in their jobs (brookings.edu, 2011). 1.3. Mission, Vision, Strategic Plan: Implications for Strategic Congruence? The vision statement of Wal-Mart best describes its overall implication of strategic congruence and performance management system. It has the vision statement of “To be the best retailer in the hearts and minds of consumers and employees.” It is pertinent to state that company has not focused profits, revenues or sales volume etc in their vision statement but focused upon winning the hearts and minds of not only customers but also the employees of the company. This implication shows that how much the employees, their performance management and training needs are essential for this company. The mission statement of the company also has played a significant role in achieving its goals worldwide and increased the level of performance management system with true spirit. The mission statement “Saving people money so they can live better” best describes company’s association with its customers that selling prices are kept low in order to ensure that people can save money for their other needs. This approach has great connection with implication for strategic congruence (panmore.com, 2017). 1.4. Human Resource Management and Labor Issues Wal-Mart is facing some specific HR and labor related issues especially in developing and under-developed countries due to unavailability of required skilled and well educated manpower. In some developed and advanced countries, this company is facing the problem of global competition and intense litigation issue pertaining to labor and HR policies (Huselid, 1995).