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Valued Employee Program - Essay Example

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Valued Employee Program Name Texas A&M University-Commerce In partial fulfillment of the requirements for MKT 521 Professor Lloyd M. Basham April 20, 2012 Table of Contents Abstract…………………………………………………………………………………………
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Download file to see previous pages ?…………………………………………....10 References…………………………………………………………………………………….12 Appendix……………………………………………………………………………………...13 Appendix A…………………………………………………………………………………...14 Abstract Due to the global recession, the world is also experiencing global employability crisis especially in the country. To answer this problem, new talents must be found. This can be achieved by renewing business and management strategies. This would also include a program to enhance talent already in the company. Rewards and recognitions must be given either formally or informally. Other incentives may also be given. Successful implementation of these programs or strategies would contribute to the success of the company. Keywords: Rewards and recognition, valuing employees, global employability crisis Valued Employee Program Introduction “People are definitely a company's greatest asset because a company is only as good as the people it keeps.” This is a famous quote from Mary Kay Ash, a very successful American businesswoman. For a company to be a globally competitive one, it should know how to make its people competitive at the same time knowing how to keep them for long-term. This means having or discovering new talents and also giving rewards and recognitions to employees. According to Gallop (2006) as cited by Ascent Group (2008), companies with high levels of employee satisfaction enjoyed higher return on investment. This is what our program wants to achieve. Satisfaction to the employee like rewards, recognitions, benefits, incentives, bonuses and satisfaction to the company in terms of increased sales, revenues and profits and also credibility will be achieved. Labor Force Situation As leaders transition toward growth, there is an increased focus on human capital which involves identifying and actively engaging the most critical employees, rapidly aligning the workforce around change and ensuring getting most of the dollar they spent (Aon Hewitt, 2011). Also, according to ManpowerGroup (2011), talent becomes increasingly difficult to find heading towards a global employability crisis. This means lesser assets to the company. Companies must reconsider work models and workforce strategies to execute their business strategies. Old assumptions on structure and organization of work plus the development of talent must be changed so as not to put the business in danger. These new strategies entail much effort to be put upon. It is becoming more and more difficult to find and engage the right employees (Ascent Group, 2011). Thus, more jobs are being difficult to fill. Based from the 2011 Talent Shortage Survey by the ManpowerGroup, the Top 10 Jobs Employers are Having Difficulty Filling Globally are as follows: 1) technicians; 2) sales representatives; 3) skilled trades workers; 4) engineers; 5) laborers; 6) management/executives; 7) accounting and ...Download file to see next pagesRead More
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