MGT 434 Topic 4 Assignment; CLC - Staffing and Compensation Plan - Walmart
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Walmart Staffing and Compensation Plan
A successful staffing and compensation plan requires strategic planning and human resource management by those in charge and the Human Resource (HR) department. They must rely on forecasting and focus on the success of the organization in the short- and long-term future while adhering to the culture and goals of the organization. When it comes to staffing needs, HR must make sure that they hire people that will become loyal, be willing to work towards the same goals, and be productive. Keeping its employees happy with compensation and benefits is a key step in assuring employee retention as well as the willingness to work hard, and become productive and work efficiently. Specifically, Walmart is a good example of these aspects by focusing its compensation program on three components, which includes base salary, short-term incentive (annual incentive or bonus), and long-term incentive (equity) (Compensation Quick Links, 2022). As one of the largest retailers in the world, this plan will discuss Walmart’s recruiting needs, employee benefits, and compensation packages.
Walmart Staffing and Training Needs
As Walmart is one of the largest retailers in the world, it tends to have many staffing needs encompassing cashiers and stockers to managers and supervisors. With Walmart moving its part-time workers to full-time helps retain employees and lower its turnover rate while offering new positions. Drew Holler, Walmart’s senior U.S. Vice President announced, “We know offering more full-time opportunities along with skills training and equipping associates with tools to make work easier will help us continue to attract and retain top talent, (CNBC.com, 2021).” Training employees is an effort of the company to help them with on-the-job skills and knowledge, as well as become confident in the use of what they have learned (Noe et al, 2021). When planning a recruitment and training plan, Walmart comprehensively views the organization, structure, culture, the jobs needed, including forecasting……..Continue
