Avery Dennison Corporation (NYSE: AVY) is a major[weasel words] global manufacturer and distributor of pressure sensitive adhesive materials (such as self-adhesive labels), office products, and various paper products.
The company was originally founded in Los Angeles in 1935 as Kum Kleen Products, a partnership of Mr. and Mrs. R.S. Avery. The name was changed to Avery Adhesives in 1937. In 1946 the company was incorporated as Avery Adhesive Label Corp., and the name was subsequently changed to Avery Adhesive Products, Inc. in 1958, and to Avery Products Corporation in 1964.[3] The name was changed again to Avery International Corporation in 1976, and it became Avery Dennison after the company merged with Dennison Manufacturing in 1990.[4]
The company is currently headquartered in Pasadena, California. As of 2008, Avery ranked 376 in the Fortune 500 list with total sales of $6.7 billion. Avery Dennison's pivotal line of products are found in their Pressure-Sensitive Materials segment, responsible for 54% of sales. Avery currently employs 36,000 men and women all over the world, with manufacturing and distribution facilities in over 60 countries. Avery Dennison's first overseas subsidiary was established in Holland in 1955.
The Company operates through four segments:
The Pressure-sensitive Materials segment manufactures and sells pressure-sensitive roll label materials, films for graphic applications, reflective highway safety products, performance polymers, and extruded films.
The Office and Consumer Products segment manufactures and sells various office and consumer products, including labels, binders, dividers, sheet protectors, and writing instruments.
The Retail Information Services segment designs, manufactures, and sells various price marking and brand identification products, including tickets, graphic and barcode tags and labels, woven and printed labels, and related supplies and equipment.
Other Specialty Products segment provides automotive and industrial products, RFID tags and inserts, specialty tape, security printing and performance films
Avery merged in 1990 with the Dennison Manufacturing Company, located in Framingham, Massachusetts which was founded in 1844 as a jewelry and watch box manufacturing company by Aaron Lufkin Dennison, who later became the pioneer[peacock term] of the American System of Watch Manufacturing. Five years later Aaron turned the Dennison Manufacturing Company over to his younger brother, Eliphalet Whorf Dennison, who took over and developed the company into a sizable[weasel words] industrial enterprise.
Benefits
In today's world, a benefits program should recognize that everyone's needs are different and offer choices so you can select what's best for you. Avery Dennison's Flexible Benefits Program does just that. Avery Dennison believes that this approach is the best way for employees to get the most from their benefits plans.
Avery Dennison offers employees 401(k) and retirement plans (e.g., the Employee Share Builder Plan), as well as a competitive tuition reimbursement program.
The Avery Dennison Flexible Benefits Program allows employees to choose from several medical and dental coverage options, including vision care. This program also provides many insurance options including Basic Life, Accidental Death and Dismemberment, and Long-Term Nursing Care. The organization also provides disability protection through short-term and long-term disability programs. Through "personal spending accounts," employees may also set aside income on a "tax-free" basis to pay for expenses such as dependant care, elder care, or non-covered medical expenses.
Employee Retention involves taking measures to encourage employees to remain in the organization for the maximum period of time. Corporate is facing a lot of problems in employee retention these days. Hiring knowledgeable people for the job is essential for an employer. But retention is even more important than hiring. There is no dearth of opportunities for a talented person. There are many organizations which are looking for such employees. If a person is not satisfied by the job he’s doing, he may switch over to some other more suitable job. In today’s environment it becomes very important for organizations to retain their employees.
The top organizations are on the top because they value their employees and they know how to keep them glued to the organization. Employees stay and leave organizations for some reasons.
The picture states the latest statement
that corporate believes in “Love them or Lose them”
The reason may be personal or professional. These reasons should be understood by the employer and should be taken care of. The organizations are becoming aware of these reasons and adopting many strategies for employee retention.
In this section we are going to study about various topics related to employee retention, why is it needed, basic practices, myths, etc. in detail.
The basic practices which should be kept in mind in the employee retention strategies are:
1. Hire the right people in the first place.
2. Empower the employees: Give the employees the authority to get things done.
3. Make employees realize that they are the most valuable asset of the organization.
4. Have faith in them, trust them and respect them.
5. Provide them information and knowledge.
6. Keep providing them feedback on their performance.
7. Recognize and appreciate their achievements.
8. Keep their morale high.
9. Create an environment where the employees want to work and have fun.
The company was originally founded in Los Angeles in 1935 as Kum Kleen Products, a partnership of Mr. and Mrs. R.S. Avery. The name was changed to Avery Adhesives in 1937. In 1946 the company was incorporated as Avery Adhesive Label Corp., and the name was subsequently changed to Avery Adhesive Products, Inc. in 1958, and to Avery Products Corporation in 1964.[3] The name was changed again to Avery International Corporation in 1976, and it became Avery Dennison after the company merged with Dennison Manufacturing in 1990.[4]
The company is currently headquartered in Pasadena, California. As of 2008, Avery ranked 376 in the Fortune 500 list with total sales of $6.7 billion. Avery Dennison's pivotal line of products are found in their Pressure-Sensitive Materials segment, responsible for 54% of sales. Avery currently employs 36,000 men and women all over the world, with manufacturing and distribution facilities in over 60 countries. Avery Dennison's first overseas subsidiary was established in Holland in 1955.
The Company operates through four segments:
The Pressure-sensitive Materials segment manufactures and sells pressure-sensitive roll label materials, films for graphic applications, reflective highway safety products, performance polymers, and extruded films.
The Office and Consumer Products segment manufactures and sells various office and consumer products, including labels, binders, dividers, sheet protectors, and writing instruments.
The Retail Information Services segment designs, manufactures, and sells various price marking and brand identification products, including tickets, graphic and barcode tags and labels, woven and printed labels, and related supplies and equipment.
Other Specialty Products segment provides automotive and industrial products, RFID tags and inserts, specialty tape, security printing and performance films
Avery merged in 1990 with the Dennison Manufacturing Company, located in Framingham, Massachusetts which was founded in 1844 as a jewelry and watch box manufacturing company by Aaron Lufkin Dennison, who later became the pioneer[peacock term] of the American System of Watch Manufacturing. Five years later Aaron turned the Dennison Manufacturing Company over to his younger brother, Eliphalet Whorf Dennison, who took over and developed the company into a sizable[weasel words] industrial enterprise.
Benefits
In today's world, a benefits program should recognize that everyone's needs are different and offer choices so you can select what's best for you. Avery Dennison's Flexible Benefits Program does just that. Avery Dennison believes that this approach is the best way for employees to get the most from their benefits plans.
Avery Dennison offers employees 401(k) and retirement plans (e.g., the Employee Share Builder Plan), as well as a competitive tuition reimbursement program.
The Avery Dennison Flexible Benefits Program allows employees to choose from several medical and dental coverage options, including vision care. This program also provides many insurance options including Basic Life, Accidental Death and Dismemberment, and Long-Term Nursing Care. The organization also provides disability protection through short-term and long-term disability programs. Through "personal spending accounts," employees may also set aside income on a "tax-free" basis to pay for expenses such as dependant care, elder care, or non-covered medical expenses.
Employee Retention involves taking measures to encourage employees to remain in the organization for the maximum period of time. Corporate is facing a lot of problems in employee retention these days. Hiring knowledgeable people for the job is essential for an employer. But retention is even more important than hiring. There is no dearth of opportunities for a talented person. There are many organizations which are looking for such employees. If a person is not satisfied by the job he’s doing, he may switch over to some other more suitable job. In today’s environment it becomes very important for organizations to retain their employees.
The top organizations are on the top because they value their employees and they know how to keep them glued to the organization. Employees stay and leave organizations for some reasons.
The picture states the latest statement
that corporate believes in “Love them or Lose them”
The reason may be personal or professional. These reasons should be understood by the employer and should be taken care of. The organizations are becoming aware of these reasons and adopting many strategies for employee retention.
In this section we are going to study about various topics related to employee retention, why is it needed, basic practices, myths, etc. in detail.
The basic practices which should be kept in mind in the employee retention strategies are:
1. Hire the right people in the first place.
2. Empower the employees: Give the employees the authority to get things done.
3. Make employees realize that they are the most valuable asset of the organization.
4. Have faith in them, trust them and respect them.
5. Provide them information and knowledge.
6. Keep providing them feedback on their performance.
7. Recognize and appreciate their achievements.
8. Keep their morale high.
9. Create an environment where the employees want to work and have fun.