Compensation Strategy in Walmart - Case Study Example

Wal-Mart Compensation and benefits $12,000- $22,000 Health/ Medical Insurance (Medical, hearing and vision) Retirement/ pensions plans: 401 (k) Education Profit-sharing Store discounts Illness protection (Jathar para 2) Compensation philosophies Externally competitive: the above-average pay is similar to those of other firms Internally fair, the pay provided does not depend on factors such as age, ethnicity, or nationality, but on the job description. Responsible the pay does depend on the financial wellness of the firm.

Marketing competitiveness strategy Wal-Mart human resource ensures that its jobs are fair and competitive. To do so, they take a snapshot of current salaries they provide to employees during periodic checks. The human resources also rank employees according to their performance and give them a score that affects their rating. Individual or Team rewards Wal-Mart does offer competitive rewards to both individuals and teams. First Wal-Mart provides deserving employees with a bonus on their employment.

In addition, individuals who demonstrate hard work are given promotion. Those who excel as teams are also given certificates of recognition. Recognition of workers who work and achieve team goals is a necessary tool that Wal-Mart uses to ensure that its employees adhere to team norms, as well as working towards meeting collective goals.