The McKesson Corporation

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Step 1: Assess the Company’s Human Resources Competitive Position

Leveraging the work completed in the Individual Assignments for Units 2 and 3, assess the company’s human resources competitive position. Be sure to evaluate the company’s position within the industry and among its comparator group.

Step 2: Identify and Evaluate Human Resources Risks and Opportunities

Leveraging the work completed in the Individual Assignment for Units 1–3, identify and evaluate the company’s human resources risks and opportunities. At least 3 risks and 3 opportunities should be included in your evaluation.

Step 3: Assessment of the Company’s Human Resources Competitive Position

Based on analysis of information obtained in Steps 1–3, prepare a professionally written report assessing the assessment of the company’s human resources competitive position, risks, and opportunities suitable for presentation to the senior executives of the company. Your report should present the information listed below. The body of the report should be 8–10 pages excluding title, references page(s), and any appendices.

  1. Industry Competitive Position
  2. Comparator Group Competitive Position
  3. Human Resources Risks (minimum of 3)
    • Description
    • Analysis
  4. Human Resources Opportunities (minimum of 3)
    • Description
    • Analysis
  5. Overall Assessment of the Company’s Human Resources Competitive Position

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*** This assignment needs to wrote on the The McKesson Corporation , I am uploading the other two papers i have wrote just in case the help with this assignment*****

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Running head: MCKESSON CORPORATION McKesson Corporation Student’s Name Institutional Affiliation Course Date 1 MCKESSON CORPORATION 2 The McKesson Corporation McKesson Corporation is an healthcare organization tasked giving supply chain solutions, performs community oncology, pharmacy and provision of specialized care about the information technology. The firm is used for providing medical products, medicines and healthcare services where they partner with various manufacturers, pharmacies, providers, healthcare organizations and governments. The company operates under different form of segments such as McKesson Technology Solutions and McKesson Distribution Solutions. The firm's distribution segments distributes different generic and branded drugs that are health-care related internationally and helps in providing practice management, clinical support, technology and solutions to business to the community oncology as well as other speciality practices. Furthermore, the firm offers pharmaceutical solutions for manufacturers where they provide multiple distribution channels and clinical trial access to a network of physicians. The company also provides surgical solutions and other different services to healthcare workers in America. The organization in the distribution sector operates across Europe and Canada. The firm has the capacity of supplying all integrated pharmacy ingredients by use of the automated dispensing system and the related service providers such as speciality, retail, central fill, outpatient and mail order pharmacies. The distribution segment located in North America has four different units that include; McKesson Speciality Health, United States Pharmaceutical Distribution, McKesson Rx Technology Solutions and McKesson Canada. The company has the capacity of supplying pharmaceutical brands and various health-related products across all the American state (Heard, Brightwell, Schmidt, & Ushakov, 2017). MCKESSON CORPORATION 3 Benefits and Compensation The company has a strong culture of maintaining robust health to patients, providing financial well being, support in the physical and mental status of employees and their families. The company also offers parental leave to its workers especially dads and moms. Many competitive benefits play a critical role in helping one maintain strong physical health when working with McKesson Corporation. On this regard, thousands of employees are given the chance of participating in voluntary wellness programs, vitality and each year they enjoy improved health where they save medical premiums and rewards. The workers also get benefits of receiving gift cards and tracking of fitness devices. The company also offers free resources to workers such as weight watchers, free biometric screening, free flu shots, quit for life, free activity tracker and gym discounts. Whether one works in the marketing or HR activity, a big difference made. A chain of reaction from employees has helped people to get more credible health services. McKesson being the leading health provider in the country, every aspect of the life of every individual is virtually touched. Customers are continuously being empowered where they are given the chance of delivering solutions and supplies of health equipment. Employees are also empowered by giving out a supportive environment when responsibility and growth opportunities arise. Due to the growth initiatives, there is the existence of exceptional leadership that provides strategy and vision to the running of the firm giving about advanced solutions to health situations in the country. This gives an opportunity of getting confidence and direction in the future about working in the firm. McKesson believes that it can always empower every employee that is found in the firm (Heard, Brightwell, Schmidt, & Ushakov, 2017). There are also retirement benefits that are offered to employees based on the ongoing implementation of all MCKESSON CORPORATION 4 employee plans. This will ensure that all workers can get the required benefits that will fit their final responsibilities within the organization. Business Leadership and Strategy McKesson is working under an advancing society where there is more infrastructure coming into place because of the intense human activities. Effective leadership and successful strategies are some of the business opportunities that render useful development structure on the business front. The firm was founded in 1833 and developed a business idea of bringing therapeutic drugs and various chemicals that were needed hugely by use of sailing ships that were present at the time. Successful companies usually have business strategists and leaders where they have developed a bid of making a strategic decision so that they can be able to survive in the competitive battle in the business world. Due to the formulation of the required initiatives, the company has managed to position itself as one of the strongest in the healthcare industry over the past decades. The firm has one of the most dedicated forms of acquisition strategies (Silberman, 2015). Due to the effective initiatives, the company has brought about general medical and automated healthcare which is the most significant medical-surgical supply in the country. This ensured that the firm remained one of the leaders in the provision of health service business. The company has faced some critical attempts of trying to diversify and exploit the many business opportunities presented in the field, but this would later harm the organization sooner than later. The firm has been cautious in making any move that would make it lose focus and be unable to meet the needs of the customers. McKesson has stood for the needs of the people and has been given their leaders the opportunity of reading the minds of customers to know what they need (Jordan, Williams, & Hertzler, 2017). MCKESSON CORPORATION 5 Diversity McKesson Corporation has become a leader in the healthcare services that have reflected the importance of inclusion and diversity of immense significance amongst all employees. The base of the customer has continued to grow because of variety that involves talent growth and hiring goals that will make the business firm accountable in the scorecard. McKesson is a supplier of diversity programs that opens opportunities that helps one in meeting the needs of the business enhancing its economic values, and health needs of customers. Diversity is one of the basic needs of the firm where relationships are being fostered. This has been critical in driving innovation, fuels considerable mutual growth, understanding of customer needs and then improves the health services of communities. Leaders of the firm have been vast in recognizing the growing relationship between minority, small and business owned by veterans. Most senior leaders of McKesson are supposed to lead by example in empowering individuals who will be tasked with the work of ensuring that there is diversity within the organization. Inclusion and diversity have been integrated into the company where business is being done. Diversity has always been the critical component of evaluating performance scorecards where it gets measured where leaders embrace the philosophy of engagement. The leaders have been at the forefront trying to use the collective capability to show how diversity increases workforce representation (Jordan, Williams, & Hertzler, 2017). Employee Relations Creating good employee relations results in increased productivity of more than 50% compared to organizations that have poor relationships with their employees. In this case, it requires the intervention of seniors, colleagues, and subordinates so that employee relations can be improved and maintained within the maximum level that will ensure there is sustained MCKESSON CORPORATION 6 implementation of human resource strategies that has made it vital in bringing success to the firm. To ensure that there is an efficient communication strategy in the firm, the organization has advocated for top-to-bottom and bottom-to-top communication that will be vital in solving any arising problems. This will ensure that there are maximum collaborations between employees where they can hold an open discussion on how they interact with each other. Supply of health equipment has been the driving force in the growth of the firm thus bringing about empowerment on decision-making within the firm. The manner on how employees relate to each other determines the final performance of the corporation hence McKesson has ensured that there is a good relationship that exists between employees. Due to the healthy relationship the company can be able to achieve the required success in the company. The company should ensure that it chooses the best form of management strategy that will play a critical role in improving employee relations by use of different types of approach. The vision of McKesson is to be one of the reliable suppliers of medical facilities across the globe. Thus it ensures that it starts implementing its vision of achieving success by looking at the relationship that exists between their employees and patients. The proper relationship brings about increased productivity (Jordan, Williams, & Hertzler, 2017). Ethics and Corporate Social Responsibility The main tenet of the company is to give operational excellence and to seek business efficiencies that will lead to a maximum reduction of the environmental impact. McKesson further recognizes the importance of approaching their work of maintaining sustainability where environmental safety and health are considered. The firm has a strategy that plays a vital role in reducing the emission of carbon dioxide. The company has impoverished fleet optimization where McKesson primarily delivers products to customers by use of transportation partners. The MCKESSON CORPORATION 7 arrangement enables constant optimization of the fleet where there are external carriers that arrange for deliveries and pickups thus avoiding the return of empty trucks to the centers of distributions. Furthermore, McKesson operates more than two national redistribution centers that are based in America. The model enables the company to manage its inventory better thus playing a critical role in reducing redundancies. Therefore, this reduces overall movement noticed about inventory where manufacturers are supposed to maximize the DC network of the firm. McKesson Corporation is the leading international organization for a retail and wholesale business that operates more than 100 warehouses and supplies commodities to more than 50,000 pharmacies. The firm also provides services to a variety of hospitals each day, and itself owns more than two thousand pharmacies. The company has started lighting initiatives that are aimed at reducing emissions of carbon dioxide which has a strong impact on carbon footprint. Therefore, the firm has decided to use centers of distribution that have the capacity of using energy-intensive lighting that utilizes systems of LED. The ordering processes implemented by the firm are both sustainable and user-friendly (Mink, & Rago, 2017). Following the rules and regulations set out by the firm, ethics and CSR implementation have made the company to start the initiative of reusing the available containers for distribution of medication to customers who operate in hospitals and pharmacies. After the containers have been emptied and unloaded, they are then used for carrying out the next form of delivery. The firm has also put measures of ensuring there is a smooth process of picking-up the used containers. Organizational and Employee Development Employee satisfaction and organizational skills have been enhanced in the firm through career development and improved training. There is also recognition of energized employees, talented individuals and provision of key services that have resulted in customer satisfaction. MCKESSON CORPORATION 8 McKesson organization has an intensive plan of enhancing employee development. With efficient development plan, the firm has intensified plans of raising the standards that support the effectiveness of customer satisfaction which is based on stringent performance standards that represent one of the best practices across the globe. The knowledge of employee development has been shown by the existence of information solutions that have enabled rapid expansion and growth where it has led to the acquisition of performance appraisals across the world. McKesson has the capacity of providing organizations with the required measures that improve the health of patients that will be critical in generating resources and supporting more than four thousand customers in spreading more than five hundred brands of products. There is also an efficient organizational procedure that involves employees directly where more than six thousand workers are directly involved in supporting the working system that serves customers. Proper corporate procedures and employee development have been on the forefront driving rapid growth thus removing any form of obstacles where McKesson has managed to operate in more than 32 support centers. The firm further enhanced the culture of fulfilling the core goals such as accountability, customer satisfaction, employee satisfaction and financial performance. Talent management McKesson Corporation is one of the organizations in the health sector where it is involved in the supply of medical and pharmaceutical equipment to hospitals across the world. The firm has initiated the work of choosing the best talents that will help them to achieve the setout goals of diversifying across the globe. It is used to improve business value which makes them realize their set goals. McKesson recruits, develop, retain, reward and later make people perform to their required level making them fit in the strategic workforce planning system. MCKESSON CORPORATION 9 Therefore, management of talent should move in conjunction with the business strategy of the organization so that it can be able to function more appropriately (Mink, & Rago, 2017). Technology McKesson is one of the top business organization that has fronted the use of technology as their main platform for innovation. Across the world, McKesson is recognized as the main business warehouse and the modernization project that scales growth of different departments of the firm. The technological innovation has become critical in enhancing the rapid growth of the company. Furthermore, there is a strong enterprise of the technical team that has continued to raise the bar of innovation where modern and more effective methods are being made to ensure that there are efficient collection and analysis of recognized information from within the firm. Technology has further played a vital role where McKesson has decided to work with a variety of groups that help them in implementing a scalable business intelligence which ultimately reduces complexity leading to improved agility and increasing response rate (Mink, & Rago, 2017). Best Practices in Human resource Management The success and profitability of any company are determined by the work of human resource department. The department is tasked with the job of hiring competent employees and improving the morale shown by the workers. Some of the main practices of HR is ensuring that the best workers are employed. The department also provides that employees undergo induction process that will eventually facilitate the smooth running of the company. Some companies have specialized in human resource management that have their basic functions as tracking of wages, recruiting and payroll management. McKesson has a system that involves the use of attendance software which helps in tracking the number of hours an employee has worked for and then be MCKESSON CORPORATION 10 able to determine the amount of payment that will be done. Human resource management also has the capacity of retaining veteran employees who have proved their worth in ensuring that they have utilized the services offered by the firm (Silberman, 2015). Additionally, human resource management of the firm is also enhanced by the use of continuous performance management that allows employees to give their feedback on various matters that will increase their productivity. Conclusion The success of any company relies entirely on the human factor. Top management of any firm should ensure that all elements pertaining the objective of any company are fulfilled. Some of the common initiatives that are supposed to be made include making workers feel amongst the owners and responsible for every activity being carried out by the company. Among other various factors, operations of McKesson has been influenced greatly by good management and employee motivation. Good governance has been vital in many companies because it has brought about success in the business of firms like McKesson that has been in operation since 1833. MCKESSON CORPORATION 11 References Heard, J. E., Brightwell, R., Schmidt, D., & Ushakov, J. (2017). U.S. Patent Application No. 15/081,347. Jordan, M., Williams, B., & Hertzler, M. (2017). U.S. Patent Application No. 15/081,315. Mink, S., & Rago, D. (2017). U.S. Patent Application No. 15/084,618. Silberman, L. J. (2015). The End of Another Era: Reflections on Daimler and Its Implications for Judicial Jurisdiction in the United States. Lewis & Clark L. Rev., 19, 675. Running head: MCKESSON CORPORATION McKesson Corporation Student’s Name Institutional Affiliation Course Date 1 MCKESSON CORPORATION 2 The McKesson Corporation McKesson Corporation is an healthcare organization tasked giving supply chain solutions, performs community oncology, pharmacy and provision of specialized care about the information technology. The firm is used for providing medical products, medicines and healthcare services where they partner with various manufacturers, pharmacies, providers, healthcare organizations and governments. The company operates under different form of segments such as McKesson Technology Solutions and McKesson Distribution Solutions. The firm's distribution segments distributes different generic and branded drugs that are health-care related internationally and helps in providing practice management, clinical support, technology and solutions to business to the community oncology as well as other speciality practices. Furthermore, the firm offers pharmaceutical solutions for manufacturers where they provide multiple distribution channels and clinical trial access to a network of physicians. The company also provides surgical solutions and other different services to healthcare workers in America. The organization in the distribution sector operates across Europe and Canada. The firm has the capacity of supplying all integrated pharmacy ingredients by use of the automated dispensing system and the related service providers such as speciality, retail, central fill, outpatient and mail order pharmacies. The distribution segment located in North America has four different units that include; McKesson Speciality Health, United States Pharmaceutical Distribution, McKesson Rx Technology Solutions and McKesson Canada. The company has the capacity of supplying pharmaceutical brands and various health-related products across all the American state (Heard, Brightwell, Schmidt, & Ushakov, 2017). MCKESSON CORPORATION 3 Benefits and Compensation The company has a strong culture of maintaining robust health to patients, providing financial well being, support in the physical and mental status of employees and their families. The company also offers parental leave to its workers especially dads and moms. Many competitive benefits play a critical role in helping one maintain strong physical health when working with McKesson Corporation. On this regard, thousands of employees are given the chance of participating in voluntary wellness programs, vitality and each year they enjoy improved health where they save medical premiums and rewards. The workers also get benefits of receiving gift cards and tracking of fitness devices. The company also offers free resources to workers such as weight watchers, free biometric screening, free flu shots, quit for life, free activity tracker and gym discounts. Whether one works in the marketing or HR activity, a big difference made. A chain of reaction from employees has helped people to get more credible health services. McKesson being the leading health provider in the country, every aspect of the life of every individual is virtually touched. Customers are continuously being empowered where they are given the chance of delivering solutions and supplies of health equipment. Employees are also empowered by giving out a supportive environment when responsibility and growth opportunities arise. Due to the growth initiatives, there is the existence of exceptional leadership that provides strategy and vision to the running of the firm giving about advanced solutions to health situations in the country. This gives an opportunity of getting confidence and direction in the future about working in the firm. McKesson believes that it can always empower every employee that is found in the firm (Heard, Brightwell, Schmidt, & Ushakov, 2017). There are also retirement benefits that are offered to employees based on the ongoing implementation of all MCKESSON CORPORATION 4 employee plans. This will ensure that all workers can get the required benefits that will fit their final responsibilities within the organization. Business Leadership and Strategy McKesson is working under an advancing society where there is more infrastructure coming into place because of the intense human activities. Effective leadership and successful strategies are some of the business opportunities that render useful development structure on the business front. The firm was founded in 1833 and developed a business idea of bringing therapeutic drugs and various chemicals that were needed hugely by use of sailing ships that were present at the time. Successful companies usually have business strategists and leaders where they have developed a bid of making a strategic decision so that they can be able to survive in the competitive battle in the business world. Due to the formulation of the required initiatives, the company has managed to position itself as one of the strongest in the healthcare industry over the past decades. The firm has one of the most dedicated forms of acquisition strategies (Silberman, 2015). Due to the effective initiatives, the company has brought about general medical and automated healthcare which is the most significant medical-surgical supply in the country. This ensured that the firm remained one of the leaders in the provision of health service business. The company has faced some critical attempts of trying to diversify and exploit the many business opportunities presented in the field, but this would later harm the organization sooner than later. The firm has been cautious in making any move that would make it lose focus and be unable to meet the needs of the customers. McKesson has stood for the needs of the people and has been given their leaders the opportunity of reading the minds of customers to know what they need (Jordan, Williams, & Hertzler, 2017). MCKESSON CORPORATION 5 Diversity McKesson Corporation has become a leader in the healthcare services that have reflected the importance of inclusion and diversity of immense significance amongst all employees. The base of the customer has continued to grow because of variety that involves talent growth and hiring goals that will make the business firm accountable in the scorecard. McKesson is a supplier of diversity programs that opens opportunities that helps one in meeting the needs of the business enhancing its economic values, and health needs of customers. Diversity is one of the basic needs of the firm where relationships are being fostered. This has been critical in driving innovation, fuels considerable mutual growth, understanding of customer needs and then improves the health services of communities. Leaders of the firm have been vast in recognizing the growing relationship between minority, small and business owned by veterans. Most senior leaders of McKesson are supposed to lead by example in empowering individuals who will be tasked with the work of ensuring that there is diversity within the organization. Inclusion and diversity have been integrated into the company where business is being done. Diversity has always been the critical component of evaluating performance scorecards where it gets measured where leaders embrace the philosophy of engagement. The leaders have been at the forefront trying to use the collective capability to show how diversity increases workforce representation (Jordan, Williams, & Hertzler, 2017). Employee Relations Creating good employee relations results in increased productivity of more than 50% compared to organizations that have poor relationships with their employees. In this case, it requires the intervention of seniors, colleagues, and subordinates so that employee relations can be improved and maintained within the maximum level that will ensure there is sustained MCKESSON CORPORATION 6 implementation of human resource strategies that has made it vital in bringing success to the firm. To ensure that there is an efficient communication strategy in the firm, the organization has advocated for top-to-bottom and bottom-to-top communication that will be vital in solving any arising problems. This will ensure that there are maximum collaborations between employees where they can hold an open discussion on how they interact with each other. Supply of health equipment has been the driving force in the growth of the firm thus bringing about empowerment on decision-making within the firm. The manner on how employees relate to each other determines the final performance of the corporation hence McKesson has ensured that there is a good relationship that exists between employees. Due to the healthy relationship the company can be able to achieve the required success in the company. The company should ensure that it chooses the best form of management strategy that will play a critical role in improving employee relations by use of different types of approach. The vision of McKesson is to be one of the reliable suppliers of medical facilities across the globe. Thus it ensures that it starts implementing its vision of achieving success by looking at the relationship that exists between their employees and patients. The proper relationship brings about increased productivity (Jordan, Williams, & Hertzler, 2017). Ethics and Corporate Social Responsibility The main tenet of the company is to give operational excellence and to seek business efficiencies that will lead to a maximum reduction of the environmental impact. McKesson further recognizes the importance of approaching their work of maintaining sustainability where environmental safety and health are considered. The firm has a strategy that plays a vital role in reducing the emission of carbon dioxide. The company has impoverished fleet optimization where McKesson primarily delivers products to customers by use of transportation partners. The MCKESSON CORPORATION 7 arrangement enables constant optimization of the fleet where there are external carriers that arrange for deliveries and pickups thus avoiding the return of empty trucks to the centers of distributions. Furthermore, McKesson operates more than two national redistribution centers that are based in America. The model enables the company to manage its inventory better thus playing a critical role in reducing redundancies. Therefore, this reduces overall movement noticed about inventory where manufacturers are supposed to maximize the DC network of the firm. McKesson Corporation is the leading international organization for a retail and wholesale business that operates more than 100 warehouses and supplies commodities to more than 50,000 pharmacies. The firm also provides services to a variety of hospitals each day, and itself owns more than two thousand pharmacies. The company has started lighting initiatives that are aimed at reducing emissions of carbon dioxide which has a strong impact on carbon footprint. Therefore, the firm has decided to use centers of distribution that have the capacity of using energy-intensive lighting that utilizes systems of LED. The ordering processes implemented by the firm are both sustainable and user-friendly (Mink, & Rago, 2017). Following the rules and regulations set out by the firm, ethics and CSR implementation have made the company to start the initiative of reusing the available containers for distribution of medication to customers who operate in hospitals and pharmacies. After the containers have been emptied and unloaded, they are then used for carrying out the next form of delivery. The firm has also put measures of ensuring there is a smooth process of picking-up the used containers. Organizational and Employee Development Employee satisfaction and organizational skills have been enhanced in the firm through career development and improved training. There is also recognition of energized employees, talented individuals and provision of key services that have resulted in customer satisfaction. MCKESSON CORPORATION 8 McKesson organization has an intensive plan of enhancing employee development. With efficient development plan, the firm has intensified plans of raising the standards that support the effectiveness of customer satisfaction which is based on stringent performance standards that represent one of the best practices across the globe. The knowledge of employee development has been shown by the existence of information solutions that have enabled rapid expansion and growth where it has led to the acquisition of performance appraisals across the world. McKesson has the capacity of providing organizations with the required measures that improve the health of patients that will be critical in generating resources and supporting more than four thousand customers in spreading more than five hundred brands of products. There is also an efficient organizational procedure that involves employees directly where more than six thousand workers are directly involved in supporting the working system that serves customers. Proper corporate procedures and employee development have been on the forefront driving rapid growth thus removing any form of obstacles where McKesson has managed to operate in more than 32 support centers. The firm further enhanced the culture of fulfilling the core goals such as accountability, customer satisfaction, employee satisfaction and financial performance. Talent management McKesson Corporation is one of the organizations in the health sector where it is involved in the supply of medical and pharmaceutical equipment to hospitals across the world. The firm has initiated the work of choosing the best talents that will help them to achieve the setout goals of diversifying across the globe. It is used to improve business value which makes them realize their set goals. McKesson recruits, develop, retain, reward and later make people perform to their required level making them fit in the strategic workforce planning system. MCKESSON CORPORATION 9 Therefore, management of talent should move in conjunction with the business strategy of the organization so that it can be able to function more appropriately (Mink, & Rago, 2017). Technology McKesson is one of the top business organization that has fronted the use of technology as their main platform for innovation. Across the world, McKesson is recognized as the main business warehouse and the modernization project that scales growth of different departments of the firm. The technological innovation has become critical in enhancing the rapid growth of the company. Furthermore, there is a strong enterprise of the technical team that has continued to raise the bar of innovation where modern and more effective methods are being made to ensure that there are efficient collection and analysis of recognized information from within the firm. Technology has further played a vital role where McKesson has decided to work with a variety of groups that help them in implementing a scalable business intelligence which ultimately reduces complexity leading to improved agility and increasing response rate (Mink, & Rago, 2017). Best Practices in Human resource Management The success and profitability of any company are determined by the work of human resource department. The department is tasked with the job of hiring competent employees and improving the morale shown by the workers. Some of the main practices of HR is ensuring that the best workers are employed. The department also provides that employees undergo induction process that will eventually facilitate the smooth running of the company. Some companies have specialized in human resource management that have their basic functions as tracking of wages, recruiting and payroll management. McKesson has a system that involves the use of attendance software which helps in tracking the number of hours an employee has worked for and then be MCKESSON CORPORATION 10 able to determine the amount of payment that will be done. Human resource management also has the capacity of retaining veteran employees who have proved their worth in ensuring that they have utilized the services offered by the firm (Silberman, 2015). Additionally, human resource management of the firm is also enhanced by the use of continuous performance management that allows employees to give their feedback on various matters that will increase their productivity. Conclusion The success of any company relies entirely on the human factor. Top management of any firm should ensure that all elements pertaining the objective of any company are fulfilled. Some of the common initiatives that are supposed to be made include making workers feel amongst the owners and responsible for every activity being carried out by the company. Among other various factors, operations of McKesson has been influenced greatly by good management and employee motivation. Good governance has been vital in many companies because it has brought about success in the business of firms like McKesson that has been in operation since 1833. MCKESSON CORPORATION 11 References Heard, J. E., Brightwell, R., Schmidt, D., & Ushakov, J. (2017). U.S. Patent Application No. 15/081,347. Jordan, M., Williams, B., & Hertzler, M. (2017). U.S. Patent Application No. 15/081,315. Mink, S., & Rago, D. (2017). U.S. Patent Application No. 15/084,618. Silberman, L. J. (2015). The End of Another Era: Reflections on Daimler and Its Implications for Judicial Jurisdiction in the United States. Lewis & Clark L. Rev., 19, 675. Running Head: HUMAN RESOURCE MANAGEMENT Human Resource Management 1 2 HUMAN RESOURCE MANAGEMENT Introduction The McKesson Corporation which has its headquarters in San Francisco California is an American company that involved in healthcare provision. The company was founded in the year 1833, and it is rated at number five in the Fortune Global 500 companies. Some of the products and services that McKesson offers include the distribution of pharmaceuticals, medical supplies, provision of health information as well as care management tools. As one of the oldest operating company in the United States, McKesson has gained international offices in other areas like the Netherlands, France, Ireland and Australia. The success of the company can be attributed to the excellent leadership especially in the human resource department which is the most vital in every company. The human capital is one of the production factors that determines much the success or failure of a business and hence it is essential to establish policies that are in line with the needs of the company. This paper will assess aspects of human resource management including employee engagement strategies, the management of global talents, corporate social responsibility, challenges of human capital in the 21st century, human resource technology, the best practices in human resource management and the emerging trends among other aspects and their impacts on McKesson Corporation. Employee Engagement Strategies According to various studies, employees who are engaged at their workplace show increased productivity by 50 percent compared to those who disengaged. It requires the involvement of colleagues, seniors, and subordinates in addition to the designing and implementation of human resource strategies that are effective to improve the engagement of workers. The aspect of human beings to belong and to belong is vital to the success of any HUMAN RESOURCE MANAGEMENT 3 company. For an extended period, the available solutions have advocated two-at communication that consists the bottom-to-top as well as the top-to-bottom strategies. However, most organizations are moving towards the adoption of collaborations between employees and the open discussion (Albrecht et al. 2015). The manner in which employees interact with each other determines the health of the organization significantly. Besides these aspects, employees also require to be empowered and provided the autonomy to make decisions about their jobs to increase productivity; it is vital for an organization to go beyond the traditional management ways and help the staff remain motivated and engaged in their daily activities. A company should be able to choose the best employee management strategy that suits their company since different companies require different approaches. When considering the vision of McKesson to facilitate health in the world, the corporation understands that this vision starts with their patients and then their employees. Healthy employees are not only in a position to enjoy their life but have a high capability of helping the society to create a healthy environment. One of the ways that McKesson promotes employee engagement is through providing programs that improve their health. The Total Rewards Package which helps to advance the financial, mental and physical well-being of employees and their families is a program that brings together all employees including the Executive committee and the Chief Executive Officer. Another way through which employees of a company feel engaged is by the organization being able to create an opportunity for them to succeed and advance in their career. Some of the ways that McKesson have been able to achieve this is by investing heavily on growth and development of workers, providing learning opportunities for those in need, one-on-one development initiatives with managers and also rewarding task assignments. Employees also feel HUMAN RESOURCE MANAGEMENT 4 engaged when the environment they are working in is safe, secure and healthy. By providing security highlights to employees, continually training programs on safety are some of the aspects that have significantly helped to reduce workplace injuries at McKesson Corporation. Providing the right tools and equipment also ensures that employees stay safe. The issue of diversity in an organization is of paramount importance since it facilitates innovation and creativity (Albrecht et al. 2015). Many organizations and national policies require that the aspect of diversity is present in the workplace. Some of the ways that McKesson has been able to implement this strategy is by engaging women and the people of color as well and the retention and engagement of veterans. The impact of employee engagement is that it has enabled the company to thrive for about 183 years and is still doing well today. Global Talent Management Today, the business environment for organizations is considered to possess characteristics such as being universal, highly competitive, dynamic and also extremely volatile. For the past twenty years, there has been an increase in the need for multinational companies to be competitive. Many companies today are facing numerous challenges related to matters such as talent flow, the management of two generations including the young and older workers and also lack the needed competencies. As a result, many human resource practitioners have recognized the need for proper management of global talents as a critical priority to the success of their firms (Al Ariss, 2014). With the problem at hand, one might expect that companies have adopted global talent management systems that are both effective and efficient. However, this is rarely the case for many organizations which lack sufficient talent pipeline hence reducing the ability of the company to grow. The primary challenge that many organizations face is the HUMAN RESOURCE MANAGEMENT 5 inability to determine the meaning of global talent management in their particular organizational context. As a company that has offices in different countries, the top management at McKesson Corporation understands the need to have a diverse workforce and also manage global talents that will help reach out to more people who need healthcare facilities. One of the philosophies that the corporation is committed to fulfilling is equal employment opportunity that ensures people are not discriminated against their color, gender, religion and other aspects. The company has been able to manage the workforce which includes both the old and the young workers who advance their career through internship programs. To create a pool of competent employees, the organization provides the young student from all countries with an internship in jobs such as business development, finance and accounting, human resource and auditing activities. In addition to having a diverse workforce, McKesson is one of the organizations that support veterans who thrive at all levels of the company. As a result of this diversification, the healthcare facility has been able to offer quality services to a wide range of patients in most parts of the world. Corporate Social Responsibility Today, many companies have implemented the corporate social responsibility which are initiatives that help companies to take responsibility for the effect it causes to the environment and the well-being of the society within which they are located. Such corporate citizenship may require firms to incur short-term costs that do not bring direct profit but helps to maintain a positive environment and social change (Schwartz, 2017). Many nations have large companies that most often trump on the interests of the country. Most of these organizations have especially detrimental effects on the environment because of the products they produce, the process HUMAN RESOURCE MANAGEMENT 6 involved and the waste products from companies. The current trend in climate change has been associated with the environmental effect caused by companies, and although it is difficult to control the effects sufficiently, corporations can also create a positive impression by reducing such effects. The most pressing environmental problems affect both the community and businesses. In light of these challenges, McKesson Canada has made efforts and is dedicated to creating a healthcare system that is sustainable. This objective is achieved by the commitment of the company to operate in an environmentally friendly method. The corporation integrates principles that are environmentally geared to the way they do their business to ensure a vibrant and healthy company that will be effective for future generations. A team of Eco-Initiative and EcoChampions across the country have formed programs that benefit not only the environment but also the community and company. The environmental agenda focus on factors such as recycling of waste products, controlling pollution through gas emission from production processes and transportation, using energy efficient means and encouraging sustainability. Apart from caring for the environment, corporate social responsibility for most companies is also directed towards improving the livelihood of the society starting from the employees and the surrounding community. The McKesson Foundation is one of the ways through which the corporation supports the local community. This foundation is committed to improving the health of patients and contributes about $5. 5 million to help non-profit organizations that work to improve healthcare in the society. Also, the employee volunteering and philanthropy programs provide an opportunity to the employees to take part in making a difference and developing the life of patients. Some of the work that this program carries out include focusing on cancer care which essential in this day and age where cancer issues have HUMAN RESOURCE MANAGEMENT 7 increased. The program also recognizes and rewarding outstanding services to the society and lastly supporting both local and global communities. The corporate social responsibility function has a more significant impact to the company, and this can be assessed through increased financial performance and increased customer loyalty as a result of trust that is created from the activities of the corporation. Human Resource Technology The human resource technology acts as an umbrella that houses both hardware and software functions that are used for automating the activities related to the human resource. Some of the events that the process aid in include the acquisition and management of talent, employee compensation, performance management and benefits of the administration. The concept of HR tech has developed in the recent years as a result of advanced technology. Many companies now adopt technology-based systems from software supply like Oracle and SAP. These systems have enabled organizations to cater for their employees who are the major contributor to the success of any firm. The healthcare sector is one among those that have adopted technology in their functions to improve the quality of services they deliver. To deliver such services, there it is vital for the employers to ensure that the employee management system is in line with the current technology to improve functionality. While in some companies the employers have systems that only specialize in payroll, for others it includes tracking the wages and salaries. One of the main challenges with the compensation program is to monitor the salary and wages without withholding the tax (Cascio, 2018). At McKesson Corporation, the system utilized involves using an attendance software that tracks the number of hours that employees work and determine their pay. Also, to attract and retain employees like the veterans, a unique software is utilized for compensation management. HUMAN RESOURCE MANAGEMENT 8 Many individuals apply for jobs at the McKesson Corporation since they would want to be associated with the Fortune 500 Company. As a result of the numerous applications, the company utilizes the employment assessment software that helps to determine suitable candidates for various positions without discrimination. Performance management is among the most vital activities in a company, and continuous performance management systems have been adopted to allow employee feedback and interaction. All measures that are taken in HR tech help in ensuring that human capital is managed in the right way to increase productivity. Employment Law and Human Rights Issues Year after year, the local, federal and state laws that govern companies keep on changing necessitating employers to ensure that their organizations keep up with these changes. The government requires that companies have to fulfil particular employment laws which differ in different places. Some of these employment laws include those that deal with wages and working hours, the health care laws and laws governing the use of social media by the employee among others. These laws are also varied for different organizations, and they go hand-in-hand with the rights of employees working in various companies. Some of these rights are based on the constitution and include rights against discrimination, equal pay, secure working environment and others (Weissbrodt, 2017). Lack of complying with such laws and rights is enough reason that can lead to a business being shut down by the authority. Apart from depending on the ICARE and ILEAD principles, McKesson Corporation has a comprehensive compliance ethic program that helps to maintain the code of conduct in the company. This board which is approved helps to preserve the cultural integrity of the company. Other functions of the program include ensuring that all written and publicized policies are adhered to and also carry out compliance monitoring and internal auditing. For production HUMAN RESOURCE MANAGEMENT 9 companies like McKesson are required to adhere to marketing laws and the organization uses that opportunity to illustrate their good corporate citizenship. The firm ensures that all activities that involve promotion and marketing of products and the technology used to produce the end products are according to the requirements of the law. Regarding human rights, McKesson is dedicated to making sure clear policies regarding anti-slavery and anti-corruption are put in place. The working environment has made secure to minimize or eliminate workplace injuries while employees are provided with the right tools to accomplish their daily activities. Emerging Trends in Human Resource Management Emerging trends refer to the changes that occur in the business environment, and that affects business in various ways. With changes in technology and increased competition, companies adopt different strategies that enable them to thrive. One of the emerging trends is the renewed focus on productivity where in the past the company recruited more people to solve the problem of capacity. However, this method seemed like a problem and reduced productivity. AS a solution, the management at McKesson has changed the perspective and now concentrates more on productivity instead of capacity. This situation means that although the company recruits new employees, significant efforts have been made to utilize the full potential of the existing employees which helps to reduce cost and also increase production. The other trend is that the workers in various departments have been given the authority to control the manner in which they work. Unlike in the past when employees need to be guided on what to do, providing them with an opportunity to manage their work is a strategy used for performance management. Innovation and creativity are vital for every organization, and the end of fixed jobs have marked this critical trend. Most organizations have discovered the need to stop fixed processes and procedures that are used in the production of goods (Bliese et al. 2017). As a result, most HUMAN RESOURCE MANAGEMENT 10 sectors including the healthcare facilities have been able to come up with solutions to world’s most prominent health problems. The changes in training programs is also another significant trend that has occurred. Rather than the company investing in programs that are to be used in the future, such programs are now geared to what is useful in the present to reduce the amount of money and time invested in such initiatives. McKesson Corporation is among companies that have implemented automation programs that help to provide the best care to their patients. This process marks the new trend of shrinking human resource teams that are replaced by automated programs that make work more comfortable and effective. Human Capital Challenges in the 21st Century For the past few decades, there have been perfect storms that have been blowing the workplace environment both nationally and at global levels. Such storms consist of factors such as the evolving technology, change in demographics and globalization. These changes are occurring in an era where businesses need to stay competitive and figuring ways to move forward. Although these changes pose a significant threat to many organizations, they cannot be ignored since they are not going away, but companies have to adapt and tackle them. The most compelling change that is occurring is based on the transformation of demographics that affects the human capital in the 21st century. According to demographic studies, the number of the youths in the society is rapidly increasing and making the number of jobs not sufficient for the ever growing numbers. Also, due to improved healthcare, older people tend to live longer and work for companies for an extended period (Suseno et al. 2017). The issue of demographics poses a significant threat to many companies since they have to be able to balance between accommodating all the generations of the workforce. The problem of technology is also related to the challenges of human capital in the 21st century. The mobile 11 HUMAN RESOURCE MANAGEMENT and social aspects are some of the advancements in technology that do not only affect the social life of individuals but also their production levels. While the young workers are conversant with using complicated machines, this might not be the case with the baby boomers hence making it difficult to manage human capital in the 21st century. Lastly, the level of experience required at the workplace is also a major human capital challenge in this century. As a result of all other changes, high levels of education are becoming increasingly important in many organizations to produce skilled employees in the future, and this may transform into harsh economic experiences for the company. Best Practices in Human Resource Management In any organization, the human resource department plays a significant role as it determines the profitability and success of the company. The HR sector improves the company by aiding in processes such as hiring competent employees and keeping the morale of the company. Some of the best practices of the HR include making sure that new employees are made aware of the existing policies and what they are expected to do. As such, the HR department in McKesson has managed to display best practices as new entries undergo the induction process that equips the employees with such information. Another best method is enhancing the process of frequent feedback between the top management and the subordinates that facilitate the smooth running of the company. Lastly, the HR department has also been able to embrace technology which has been essential in ensuring that all the activities of the department are run in a proper manner, and employees’ potential is maximized. Conclusion HUMAN RESOURCE MANAGEMENT 12 The human resource management is vital for every organization since the human factor contributes significantly to the success of a company. The top management must ensure that all elements pertaining the department are put in line with the objectives of a particular company. Such factors include the engagement of employees that makes employees feel belonging and responsible for everything that happens in the company. Issues dealing with corporate social responsibility are also important while there are new trends that have been experienced in the human resource department. These among other aspects contribute to the functions of the department, and when well-managed, the results is that companies can thrive long in the business arena like McKesson Corporation which has operated for 183 years. 13 HUMAN RESOURCE MANAGEMENT Reference Al Ariss, A. (2014). Global talent management: An introduction and a review. In Global Talent Management (pp. 3-13). Springer, Cham. Albrecht, S. L., Bakker, A. B., Gruman, J. A., Macey, W. H., & Saks, A. M. (2015). Employee engagement, human resource management practices and competitive advantage: An integrated approach. Journal of Organizational Effectiveness: People and Performance, 2(1), 7-35. Bliese, P. D., Edwards, J. R., & Sonnentag, S. (2017). Stress and well-being at work: A century of empirical trends reflecting theoretical and societal influences. Journal of Applied Psychology, 102(3), 389. Cascio, W. (2018). Managing human resources. McGraw-Hill Education. Schwartz, M. S. (2017). Corporate social responsibility. Routledge. Suseno, Y., & Pinnington, A. H. (2017). The war for talent: human capital challenges for professional service firms. Asia Pacific Business Review, 23(2), 205-229. Weissbrodt, D. (2017). Business and human rights. In Human Rights and Corporations (pp. 103121). Routledge.
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