netrashetty
Netra Shetty
Walgreen Co. (NYSE: WAG), d/b/a Walgreens (without an apostrophe), is the largest drugstore chain in the United States.[4] The company operates 7,563 drugstores across all 50 states, the District of Columbia and Puerto Rico. Walgreens provides access to consumer goods and services and pharmacy, health and wellness services in America through its retail drugstores, Walgreens Health Services division and Walgreens Health and Wellness division. Walgreens Health Services offers pharmacy patients and prescription drug and medical plans through Walgreens Health Initiatives Inc. (a pharmacy benefit manager), Walgreens Mail Service Inc., Walgreens Home Care Inc., Walgreens Specialty Pharmacy LLC and SeniorMed LLC (a pharmacy provider to long-term care facilities). Walgreens Health and Wellness division includes Take Care Health Systems. Walgreens has 7,563 drugstores as of September 30, 2010.[5] Walgreens was founded in Chicago, Illinois in 1901, and has since expanded throughout the United States. Its headquarters is located in the nearby suburb of Deerfield, Illinois.
Socially, while maintaining Café de Coral’s market leadership position in the Hong Kong market, the Group has equally been pro-active in its expansion initiative in the China market for the past years. As of today, the total number of operating units in the China market is well over 120. [Café de Coral Available at cafedecoral.com. (Accessed at 26/01/2008).]
In the Southern China region, Café de Coral has embarked on an aggressive branch development program, adding on the average 6 to 7 stores a year, bringing the total number of stores currently in the region to 24. The pace of our expansion in Southern China has been well on track as we have set out 2 years ago, with a target to reach a total of no less than 50 outlets by the year 2009. With the encouraging success of our business model in the region, the company has advanced confidently on our foothold from second tier cities to first tier cities of China, such as Shenzhen, Guangzhou and Shanghai. [Café de Coral Available at cafedecoral.com. (Accessed at 26/01/2008).]
HRM THEORIES APPLICATION
A central tenet of HRM consistently presented in the literature, is that HRM practices have an impact on employee behaviour, thereby improving organizational effectiveness and providing competitive advantage. The popular management literature presents prescriptive accounts of how HRM practices and quality initiatives can improve the performance of companies; this certainly has an intuitive appeal. Some critics of HRM, however, have directed attention to the lack of evidence linking HRM with improved economic performance (Hart, 1993). For example Storey (1992) was unable to show any correlation between financial performance and the uptake of HRM style approaches in mainstream UK businesses. Guest and Hoque (1994) examined the impact of HRM practices and the presence of HRM strategy on outcomes in “greenfield” manufacturing companies. Those companies adopting HRM practices and employing a strategic approach to HRM were found to have higher levels of positive HRM and employee relations outcomes, but there was no correlation with performance in terms of productivity or quality.
In contrast, an increasing body of research has demonstrated a relationship between the use of specific HRM practices and improved financial performance (Russell et al., 1985; Gerhart and Milkovich, 1992; Terpstra and Rozell, 1993). A criticism levelled by Huselid (1995) at some of this earlier work is that it suffers from the methodological weaknesses of potential simultaneity between HRM practices and corporate financial performance and the problem of response bias in data collected by means of questionnaire. In addition, there is generally a focus on single HRM practices “with more attention paid to isolating the effect of individual practices than to understanding how different HR practices interact to reinforce one another, or how they link to business functions and strategies” (McDuffie, 1995). It is posited that such research, which focuses on the impact of individual HRM practices on performance, may produce misleading results. This latter criticism has been addressed by a number of researchers who have focused on “bundles” of HRM practices. For example, a study by Ichniowski et al. (1993) compared the relationship between individual HRM practices and performance, with the relationship between HRM systems and performance. They concluded that systems of HRM policies have a much greater effect on productivity than can be expected from the sum of the individual components. A later study by Huselid (1995), covering all sectors of industry, established that bundles of High Performance Work Practices (US Department of Labor, 1993) have an “economically and statistically significant impact” on financial performance. The research provided only limited support for the theoretical arguments concerning internal and external fit. Huselid (1995) is reluctant to conclude, however, that the adoption of High Performance Work Practices alone is more important than ensuring these policies are internally consistent and are aligned with business strategy.
Reward management in the British construction industry
Changes is the reward might system have been at the heart of development in human research might. The reward might literature emphasizes the need to swft from short term, adhoc approves to pa might to a longer term strategic approach changes is pay and benefits system have therefore been presescbed an key HR collectives.
The astute reviews reward might policy and practices is one Industry is Britain. Construction industry and is concered with the degree to which reward system has been adopted to encourage and reinforce the processes of the change with in the Industry.
New Pay
It is one of the concept discussed in this article. The term new pay originates by one of the America management consultant. This approach to pay system design is facilitated by a shift from traditional “Job related pay” to new “Person related pay” means skilled based pay. Job related pay is established through job evaluation concept in new pay literature collective bargaining is not a major concern. New pay system emphasizes that paying people according to their value in the market pays. Because it is people who are the important organizational asset.
New pay approach involves much more variability in the pay package. Haeery identified three aspects of variable pay:
Ø Amount of pay which is dependent on performance should increases with shift towards more variable pay component.
Ø The scope of variable pay should be expended so that employees reflect a range of measures of corporate performance.
Ø Base pay reflects individual market worth rather than the content of job.
Change in Pay Practice in Britain
The key development in Britain pay policies over the last twenty years have been shift to more flexible and variable reward system and decline the collective the bargain pay. The changing in pay depends upon changes in business environment, companies ability to pay and change in economic activities. Here the author also discussed the survey conducted by U.K. management consultant. This survey covered nearly 400 hundred private and public organizations. After conducting the survey, following results were concluded:
Ø 50 % of the organizations reported some change in their pay strategy over the last 2 year.
Ø 30 % of the organizations were in the process of changing their benefits.
Ø 50 % of the organizations currently used some form of job evaluation concept to new pay ideas.
Ø 38 % of the organizations work planning to introduce a formal job evaluation system for employees below junior management level.
Ø There was also evidence that competency or skilled based pay system were on the increase.
Ø There was also increase of variable to base pay.
The main finding of the research was that the construction sector is typified by relatively traditional personal management practices compared to other sectors, with the clear divide between the management of manual workers on site and the management of directly employed white-collar administrative, clerical and professional staff.
Reward System for Manual Workers
Collective agreement within the construction industry remain the most significant determinant of reward management for those firms which have manual work force. Two-thirds of these companies said that matching the collective agreement was the most important pay determinant for manual workers. Seven of the remaining ten identified matching labor market condition as the most important determinant. There is no doubt that some of the parties to collective agreements, both employers associations and trade unions, have suffered reduced membership and reduced credibility and that this effects the status of agreement. Twelve companies of the thirty with manual employees had a grading structure. Job-evaluation-based grading schemes are not common for manual workers.
The survey also showed that some construction firms liked the pay of their manual workers to individual performance measurement. They also offered bonuses for achieving qualify standard targets.
Socially, while maintaining Café de Coral’s market leadership position in the Hong Kong market, the Group has equally been pro-active in its expansion initiative in the China market for the past years. As of today, the total number of operating units in the China market is well over 120. [Café de Coral Available at cafedecoral.com. (Accessed at 26/01/2008).]
In the Southern China region, Café de Coral has embarked on an aggressive branch development program, adding on the average 6 to 7 stores a year, bringing the total number of stores currently in the region to 24. The pace of our expansion in Southern China has been well on track as we have set out 2 years ago, with a target to reach a total of no less than 50 outlets by the year 2009. With the encouraging success of our business model in the region, the company has advanced confidently on our foothold from second tier cities to first tier cities of China, such as Shenzhen, Guangzhou and Shanghai. [Café de Coral Available at cafedecoral.com. (Accessed at 26/01/2008).]
HRM THEORIES APPLICATION
A central tenet of HRM consistently presented in the literature, is that HRM practices have an impact on employee behaviour, thereby improving organizational effectiveness and providing competitive advantage. The popular management literature presents prescriptive accounts of how HRM practices and quality initiatives can improve the performance of companies; this certainly has an intuitive appeal. Some critics of HRM, however, have directed attention to the lack of evidence linking HRM with improved economic performance (Hart, 1993). For example Storey (1992) was unable to show any correlation between financial performance and the uptake of HRM style approaches in mainstream UK businesses. Guest and Hoque (1994) examined the impact of HRM practices and the presence of HRM strategy on outcomes in “greenfield” manufacturing companies. Those companies adopting HRM practices and employing a strategic approach to HRM were found to have higher levels of positive HRM and employee relations outcomes, but there was no correlation with performance in terms of productivity or quality.
In contrast, an increasing body of research has demonstrated a relationship between the use of specific HRM practices and improved financial performance (Russell et al., 1985; Gerhart and Milkovich, 1992; Terpstra and Rozell, 1993). A criticism levelled by Huselid (1995) at some of this earlier work is that it suffers from the methodological weaknesses of potential simultaneity between HRM practices and corporate financial performance and the problem of response bias in data collected by means of questionnaire. In addition, there is generally a focus on single HRM practices “with more attention paid to isolating the effect of individual practices than to understanding how different HR practices interact to reinforce one another, or how they link to business functions and strategies” (McDuffie, 1995). It is posited that such research, which focuses on the impact of individual HRM practices on performance, may produce misleading results. This latter criticism has been addressed by a number of researchers who have focused on “bundles” of HRM practices. For example, a study by Ichniowski et al. (1993) compared the relationship between individual HRM practices and performance, with the relationship between HRM systems and performance. They concluded that systems of HRM policies have a much greater effect on productivity than can be expected from the sum of the individual components. A later study by Huselid (1995), covering all sectors of industry, established that bundles of High Performance Work Practices (US Department of Labor, 1993) have an “economically and statistically significant impact” on financial performance. The research provided only limited support for the theoretical arguments concerning internal and external fit. Huselid (1995) is reluctant to conclude, however, that the adoption of High Performance Work Practices alone is more important than ensuring these policies are internally consistent and are aligned with business strategy.
Reward management in the British construction industry
Changes is the reward might system have been at the heart of development in human research might. The reward might literature emphasizes the need to swft from short term, adhoc approves to pa might to a longer term strategic approach changes is pay and benefits system have therefore been presescbed an key HR collectives.
The astute reviews reward might policy and practices is one Industry is Britain. Construction industry and is concered with the degree to which reward system has been adopted to encourage and reinforce the processes of the change with in the Industry.
New Pay
It is one of the concept discussed in this article. The term new pay originates by one of the America management consultant. This approach to pay system design is facilitated by a shift from traditional “Job related pay” to new “Person related pay” means skilled based pay. Job related pay is established through job evaluation concept in new pay literature collective bargaining is not a major concern. New pay system emphasizes that paying people according to their value in the market pays. Because it is people who are the important organizational asset.
New pay approach involves much more variability in the pay package. Haeery identified three aspects of variable pay:
Ø Amount of pay which is dependent on performance should increases with shift towards more variable pay component.
Ø The scope of variable pay should be expended so that employees reflect a range of measures of corporate performance.
Ø Base pay reflects individual market worth rather than the content of job.
Change in Pay Practice in Britain
The key development in Britain pay policies over the last twenty years have been shift to more flexible and variable reward system and decline the collective the bargain pay. The changing in pay depends upon changes in business environment, companies ability to pay and change in economic activities. Here the author also discussed the survey conducted by U.K. management consultant. This survey covered nearly 400 hundred private and public organizations. After conducting the survey, following results were concluded:
Ø 50 % of the organizations reported some change in their pay strategy over the last 2 year.
Ø 30 % of the organizations were in the process of changing their benefits.
Ø 50 % of the organizations currently used some form of job evaluation concept to new pay ideas.
Ø 38 % of the organizations work planning to introduce a formal job evaluation system for employees below junior management level.
Ø There was also evidence that competency or skilled based pay system were on the increase.
Ø There was also increase of variable to base pay.
The main finding of the research was that the construction sector is typified by relatively traditional personal management practices compared to other sectors, with the clear divide between the management of manual workers on site and the management of directly employed white-collar administrative, clerical and professional staff.
Reward System for Manual Workers
Collective agreement within the construction industry remain the most significant determinant of reward management for those firms which have manual work force. Two-thirds of these companies said that matching the collective agreement was the most important pay determinant for manual workers. Seven of the remaining ten identified matching labor market condition as the most important determinant. There is no doubt that some of the parties to collective agreements, both employers associations and trade unions, have suffered reduced membership and reduced credibility and that this effects the status of agreement. Twelve companies of the thirty with manual employees had a grading structure. Job-evaluation-based grading schemes are not common for manual workers.
The survey also showed that some construction firms liked the pay of their manual workers to individual performance measurement. They also offered bonuses for achieving qualify standard targets.
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