Date of Submission
All institutions and business want to grow and become successful in all their operations, even in the modern surrounding that has proven to be highly competitive. Thus, organizations despite the size and market continually strive to keep the best workers, acknowledging their significant responsibilities and influence on business effectiveness. To deal with these issues arising, it is essential for companies to come up with a healthy and positive relationship with its workers and direct them towards task achievement. In fulfilling these goals and objectives, the business ought to figure out techniques that will be critical in competing with the continuously growing markets. If the workers are not pleased or satisfied with their jobs and not motivated to achieve their duties and goals, the business cannot achieve success. Therefore, it is an essential factor for executives to monitor and understand the factors that motivate workers, without making an assumption. In this paper, the Coca-Cola Company will be used in analyzing the questions provided.
The company is facing several business issues with digital woes emerging as one of the problems faced by the company within its operational environment. By Coke’s approval, television remains one of its major advertising channels; however, with mobile usage increasing drastically, this technique must evolve. Despite the organization having close to 300 applications internationally, a majority of them have less than 100, 000 users which in turn affects its advertising efforts and the company’s general marketing strategies (Cordeiro & Tewari, 2015). The business is addressing this challenge by investing in digital approaches effective in the digital marketing environment. There is also the need to prioritize digital as this will make the company resound more with millennials while making the applications shine. The company needs to maintain its heavy advertising mechanism that has always earned them brand loyalty and equity from consumers internationally.
The second business challenge is associated with medicinal where the first label for the current Coca-Cola syrup said in part ‘this is an intellectual beverage, and temperature drinks have the precious tonic and nerve refreshment traces of the Coca plant and Cola nuts.’ Within the public health environment, there is a fair degree of skepticism towards the notion of the company engaging with the global health group on issues that are admittedly outside of its fundamental competency (Madera, 2013). The business also came out to mention that they have an issue with the sugar level in the products. As part of the third challenge faced by the business, the company’s products have faced several macroeconomic variables that show trends within the economy. A decrease in customer confidence within the United States has led to lower product sales due to the growing overseas markets. The organization has dealt with issues including unemployment, an increase in interest rates and global warming.
Other issues related to Worker Engagement
When it comes to worker engagement, recruiting, or retention, the Coca-Cola Company, has always had a proper involvement in these fields with their employees. The industry hires close to 750,000 workers in around 200 nations and still keeps a strong dedication to ensuring equal chances is being given to all workers together with appreciating their diversity (Noe et al., 2017). The business also tries its best in keeping a high working surrounding free of discrimination and other issues associated with harassment of any nature. It has always valued its workers as its best and most essential asset with the retention process focusing on benefiting the workers; hence, the employees have continuously been operating with an unfailing set of values to assist the business in fulfilling its set goals and priorities. Keeping a good worker value has been a great asset to the industry and will always be a main concern of the firm as it is significant for its long term achievement and success.
The business is also embraced with its positive efforts of providing its workers with reasonable wages and salaries that is aside from the main facilities and services they are being given and still encourages its worker growth strategy via making their ideas come true. This is typically done through the innovative initiatives and programs that embrace and support workers to do their level best and get all operations effectively handled. This law of valuing its workers as its best skill tends to be in other terms the retention technique being utilized to inspire and hold workers within the Coca-Cola Company (Whelan & Fink, 2016). Still, the recruitment process is well strategized beginning with the ads that are generally given in the business’s website of global newspapers. Therefore, from a general perspective, the company’s recruitment and retention process have been positive with minimal challenges being experienced within its operations and meeting all the set goals and objectives.
Employee Retention Issues
High employee turnover has always been considered as one of the most significant drivers for direct and opportunity cost to increase for industries. However, in the Coca-Cola retailing study, it is estimated that close to the United States 6 billion annually are lost in the supermarket section alone as a result of worker turnover. Most significantly, this figure promptly lowers the profitability to business as much as 50 (Whelan & Fink, 2016). Therefore, the idea that human resources or people are still the most significant consideration in the enhancement of technology still exists as a prevalent idea among scholars and businesspeople alike. These were issues that the company experienced way back in 2005 when there was limited stability within the human resource department and the entire retention process. However, as mentioned earlier, the business has always valued its best and most significant assets, and this the reason why it has developed and rewarded the workers with a favorable working condition where they can perform better and achieve the set objectives.
Therefore, the company has evolved and worked hard in ensuring that worker retention process is valued and accorded the right treatment. The business operates internationally to fit in the local wants, laws, and culture, and this is why it embraces several domestic workers to work in their locals. As outlined by the director human resource Northwest Europeans division, the business strives so hard to limit global workers in the field and concentrate more on encouraging the locals since the locals are well knowledgeable and prepared to perform actions at their localities (Noe et al., 2017). Still, the need for expertise is still critical as it will fill the need for detailed techniques that may not be present in the location. The company is striving so hard to ensure that the entire recruitment and retention process is kept high as this is the only available option of the business on the needed track and operations.
Tools and Strategies
The Coca-Cola Industry as stated earlier embraces its employees as its best and mainly significant assets. It is committed to supporting, growing and developing its workers with the main aim of meeting their various potentials through acknowledging employee performance via learning processes, and career growth. The production of workers is being evaluated through the use of a form known as individual performance objectives (Madera, 2013). In this process, the workers are being appraised through this format mid-year and end of the year performance confirm together with the assessment that is later joined up to evaluate the entire company objectives. In the meantime, as part of the firm’s culture, the performance viewpoint is typically relayed to the employees this, in turn, impacts the business’s reward philosophy. Coca-Cola Company functions under combined learning mechanism or system, coaching, and feedback. This is done as a way of maintaining that the employee is capable enough to fully discharge their responsibilities in consumer relations together with the career objectives.
The industries functions of a philosophy known as 70 20 10 philosophy that in turn means that 70 percent of workers growth originates from the job while the 20 percent is from coaching and feedback while the 10 percent is from formal learning and growth. The extensive career is viewed as a journey through which workers progress with responsibilities and laws set within the firm (Madera, 2013). Progression is not just about working on the experience and capability; however, it is through skills and acquaintance within the worker’s responsibilities that will in effect increase chances into achieving the next set level. There is still a need for the business to incorporate other digital and cognitive mechanisms including the VR and channels as a way of targeting the modern generation of talents. Multiple platforms including the Glassdoor and LinkedIn are gaining even more significance in the coming years and are central for the search of workers.
It is a significant factor that efficient human resource management ought to implement existing resources that will assist in meeting the organization goals and other critical objectives. All the employees in an institution will always represent the business in their daily operations; hence, it is vital for the proper employee treatment with other respectful circumstances needed for the company to be embraced by consumers. It is also applicable to come up with good and supporting working surroundings that are diverse as the operations centers across the globe (Cordeiro & Tewari, 2015). The Coca-Cola Company is known for its exclusive benefits and payment package across the world, high performing workers and a properly setup benchmarked amid all its entrants. The business provides its workers with several growth opportunities that include knowledge and growth programs, Coca-Cola college and other training given as well. Creating a constant dialogue with various workers across the globe will always embrace open communication, exchange of critical ideas and to encourage teamwork.
At such conversations, the business will likely to gain some significant data regarding processes of how to strengthen business strategies, enhance awareness and explore other existing avenues to share success and emerging opportunities. In summary, it is obvious that the business is dedicated to fulfilling the need of its customers and also carry on operating on coming up with goods that would tactically be of help to their customers. Also, there is the urgency for the business to include other important diversification approaches that will enable it to invent new technologies and programs important in the invention, recruitment and marketing procedures.
Cordeiro, J. J., & Tewari, M. (2015). Firm characteristics, industry context, and investor reactions to environmental CSR: A stakeholder theory approach. Journal of Business Ethics, 130(4), 833-849.
Madera, J. M. (2013). Best practices in diversity management in customer service organizations: an investigation of top companies cited by Diversity Inc. Cornell Hospitality Quarterly, 54(2), 124-135.
Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2017). Human resource management: Gaining a competitive advantage. New York, NY: McGraw-Hill Education.
Whelan, T., & Fink, C. (2016). The comprehensive business case for sustainability. Harvard Business Review, 21, 2012.