Publix Supermarket

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timer Asked: Apr 24th, 2017

Question description

Take the information provided. Add more to performance review and compensation (must be at least 1 pg on each topic , and that's including the info already provided), focus more on how Publix compensate their employees and how they do their performance reviews (add detailed info). Include references and in-text citations of the info/research that you gather. Please specify/ label where the topic of performance review / compensation begins.

Running head: HUMAN RESOURCE MANAGEMENT Porsche Johnson Managing Human Resources Nova Southeastern University Implications/Publix Term Paper 1 HUMAN RESOURCE MANAGEMENT 2 Brief introduction Publix Supermarket, a once single store in 1930, is now one of the largest grocery stores in the United States of America. The company has 1,110 stores spread across seven states: Virginia, Tennessee, Alabama, North and South Carolina, Georgia and Florida. Publix supermarket has not only grown in the number of stores but also in the workforce. The supermarket is not only the largest grocery store employer in the United States but also the biggest employee-owned company globally with human resources of more than 175,000 employees. Production of the bakery, deli and dairy products distributed across all the stores is by Publix. The Forbes list places Publix as the eighth largest private companies and the seventeenth best employer in America. Human Resource Practices at Publix Supermarket "Bleeding Green" is a phenomenon at Publix that tells the story of the employee loyalty the company has enjoyed over the years. The use of the color green is a representation of the company's brand color. For decades, the company has been able to retain a significant number of employees. Statistically, 2,428 associates have been part of the business for not less than 30 years. Among the associates, 205 have served the organization for more than 40 years whereas 13 have served for over 45 years (Hinkin & Tracey, 2010). The average store manager has been an employee at Publix for 25 years. High staff turnover substantially affects most organizations because it represents a loss of skills that are substantial for the success of an entity in the midst of competitive threats. Losing employees presents not only skills loss but also a financial loss as the company has to incur additional costs to recruit and train new hires. A company also experiences reduced productivity due to the slow learning curve of the newly hired staff. HUMAN RESOURCE MANAGEMENT 3 One of the most leading human resource practices that Publix has embraced is employee ownership. Upon recruitment of new associates in the business, they have to work for one year to be eligible for employee ownership plans. Once an employee has served the entity for one year and managed to work for 1000 or more hours are rewarded with a stock whose value is a mean of 10 percent of their salaries and also get to receive yearly allotments after that (Hinkin & Tracy, 2010). The employees are also not limited to this method of acquiring g stocks but are also encouraged to purchase additional shares to increase their stake in the company. Very few companies embrace the concept of employee ownership and miss out on the potential benefits that it reaps to those who practice it. Employee ownership is a method that motivates employees but putting them at the heart of the organization, its capital that determines business growth. Employees who constitute owners of the company take their real responsibilities with significant commitment because the success of the firm means the growth of their stock value. As shareholders, employees not only enjoy the remuneration packages from the company but also dividends at the end of the financial year. Employees as shareholders also take part in decision making during the annual general meeting and this makes them fulfilled. Promoting from within is a human resource management practice that Publix has applied over the years. The company employs both on part-time and full-time contracts. The part-time employee's transition into full-time employment. Succession planning, therefore, plays a very significant role in sustaining employee productivity. Human resource managers at Publix match the associate's goals, skills, and knowledge when filling a vacancy and also encourage employees to continuously track the progress of their career growth and continually enhance their ability to perform better in their areas of expertise (Hinkin & Tracy, 2010). The current retail managers at Publix were once associates who have grown in ranks. Promoting from within is vital min HUMAN RESOURCE MANAGEMENT motivating staff towards improving their performance. It also makes personnel's feel that their contribution at the workplace is valued, recognized and rewarded. When the work culture encourages promotion from within, employees are invited to pursue trailing their lifelong objectives continuously. Employees at Publix enjoy salary raises as a result of frequent performance reviews (Hinkin & Tracey, 2010). Publix operates in a retail industry that faces dynamic competitive threats. Continuous employee performance reviews help managers and staff identify gaps that are straining their achievement of targets. This feedback enables employees to work towards improving on areas of deficiency to attain optimal performance levels. Newly recruited employees have a 30-60-90days performance review meetings with their managers to identify performance improvement areas (Mann, 2015). After the first six months, the associates receive salary raises, and this happens in the subsequent periods of every six months. As a result, employees are continuously motivated to be better performers as they anticipate salary increments. Recognizing and rewarding performance is a fundamental element for any organization that intends to retain its employees and enjoys their loyalty (Solomon, 2013). Frequent performance reviews also help the entity be able to quickly identify areas of weaknesses or performance improvement opportunities and capitalize on taking corrective actions to retain normalcy in the business operations. The relevant of performance management can therefore not be understated in the success of any firm. Publix has also incorporated the culture of service to their employees. Customers come first and get excellent treatment. The employees understand the core value of duty and its significance to experiencing customer loyalty. Culture in an organization usually represents the norms, attitudes, values and beliefs that a group of people shares. The beliefs that your 4 HUMAN RESOURCE MANAGEMENT 5 employees hold determine their behavior and their behavior influence the organization's achievement of the strategic objective. Leaders are the drivers of culture in an entity. The culture in an organization is a complete representation of the current leadership. The retail industry is a service industry involving direct interactions with customers (Mann, 2015). It is therefore very crucial for employees to receive training on customer service skills but also guided by leadership on embracing a service culture. Publix continuously emphasizes on service quality and the leadership support and practice high standards of customer service. As the chief executive puts it, the company's priority are as follows, service, quality then price (Hinkins & Tracey, 2010) Training and development is key to the success of Publix, both in enhancing the skills of its employees as well as encouraging high employee retention rate. Training plays a vital role especially when new staffs have joined the company. It provides an opportunity for them to familiarize with the business and also the culture of the organization. If induction is ineffective, it leads to loss of staff at a very high rate just at the onset of their jobs. Publix socializes its newly recruited associates on the culture of the organization and the roles to be carried out, how when and the primacy of each task (Hinkin & Tracy, 2010). The company further carries out additional pieces of training at different intervals until the employees have thoroughly familiarized with the work environment. Continuous training and development help employees easily cope with the new environment and understand the culture and values of their employer. Recommendations A lot can be learned and borrowed by organizations from reviewing the human resource practices at the Publix supermarket. It is important to understand that human resources are the driving forces of success in an organization. How the leadership motivates them plays a significant role in obtaining the best out of them. The first thing other corporates can borrow HUMAN RESOURCE MANAGEMENT 6 from Publix is the employee retention practices. The company has various strategies that act as incentives to retain employees within the organization. Corporates can make their employees coowners in their business through recognizing and rewarding performance through the issue of shares. As a result, employees feel they belong to the firm and productively work to increase their wealth. Performance evaluations should be accompanied by similar financial rewards to motivate employees to work towards achieving targets. The second practice that companies can borrow from is promoting from within (Solomon, 2013). When organizations continually bring in outsiders into the business to fill up vacancies that existing staff had the capacity to perform efficiently in demoralizes them. Organizations need to embrace succession plans and nurture existing staff to fill up anticipated vacancies as they arise. Additionally, human resource managers should improve their performance management systems by reducing the period within which they are conducted. Bi-annual, quarterly or monthly performance review enable management keeps track of employee performance and takes any needed corrective actions to improve productivity. Performance reviews are vital in tracking progress and providing feedback to employees on their performance. The performance measurement is done based on targets set at the beginning of the evaluation period. At the end of the evaluation period actual work is compared to the targets and performance improvement areas are identified and discussed. Employees who have undergone performance appraisals understand their roles better, understand how their performance influences the company as a whole and work towards achieving better results (Solomon, 2013). Further, a corporate culture that encourages service is vital for the success of any company. Customers should always come first and receive quality service. Lastly, the importance of training and development cannot be HUMAN RESOURCE MANAGEMENT 7 understated by organizations as it enhances the ability for employees to cope and continuously grow in their career resulting in improved business performance. Conclusion In summary, staff retention, employee co-ownership, training and development, service culture, performance management and promoting from within are outstanding practices that have been substantial to the success of Publix supermarkets and can be embraced by other corporates to enjoy a maximum business performance. HUMAN RESOURCE MANAGEMENT 8 References Hinkin, T. R., & Tracey, J. B. (2010). What makes it so great? An analysis of human resources practices among Fortune’s best companies to work for. Cornell Hospitality Quarterly, 51(2), 158-170. Retrieved from http://scholarship.sha.cornell.edu/articles/215/ Mann, J.A. (2015). The power of Publix: Market battles for dominance as it expands. Retrieved From http://www.miamiherald.com/news/business/biz-monday/article20621844.html Solomon, B. (2013). The Wal-Marts slayer: How Publix's people-first culture is winning the grocer war. Retrieved from https://www.forbes.com/sites/briansolomon/2013/07/24/the-wal-mart-slayer-howpublixs-people-first-culture-is-winning-the-grocer-war/#28ba956d5880

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