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Wal-Mart Stores, Inc. (formerly branded as Wal-Mart, branded as Walmart since 2008) is an American public corporation that runs a chain of large discount department stores and a chain of warehouse stores. In 2010 it was the world's largest public corporation by revenue, according to the Forbes Global 2000 for that year. The company was founded by Sam Walton in 1962, incorporated on October 31, 1969, and publicly traded on the New York Stock Exchange in 1972. Wal-Mart, headquartered in Bentonville, Arkansas, is the largest majority private employer and the largest grocery retailer in the United States. In 2009, it generated 51% of its US$258 billion sales in the U.S. from grocery business. It also owns and operates the Sam's Club retail warehouses in North America.
Wal-Mart operates under its own name in the United States, including the 50 states. It also operates under its own name in Puerto Rico. Wal-Mart operates in Mexico as Walmex, in the United Kingdom as Asda in Japan as Seiyu, and in India as Best Price. It has wholly-owned operations in Argentina, Brazil, and Canada. Wal-Mart's investments outside North America have had mixed results: its operations in the United Kingdom, South America and China are highly successful, while it was forced to pull out of Germany and South Korea when ventures there were unsuccessful.
EMPLOYEE TRAINING AND DEVELOPMENT
The quality of employees and their development through training and education are major factors in determining long-term profitability of a small business. If you hire and keep good employees, it is good policy to invest in the development of their skills, so they can increase their productivity.
Training often is considered for new employees only. This is a mistake because ongoing training for current employees helps them adjust to rapidly changing job requirements.
Purpose of Training and Development
Reasons for emphasizing the growth and development of personnel include
Creating a pool of readily available and adequate replacements for personnel who may leave or move up in the organization.
Enhancing the company's ability to adopt and use advances in technology because of a sufficiently knowledgeable staff.
Building a more efficient, effective and highly motivated team, which enhances the company's competitive position and improves employee morale.
Ensuring adequate human resources for expansion into new programs.
Research has shown specific benefits that a small business receives from training and developing its workers, including:
Reduced employee turnover.
Increased efficiency resulting in financial gains.
Decreased need for supervision.
Employees frequently develop a greater sense of self-worth, dignity and well-being as they become more valuable to the firm and to society. Generally they will receive a greater share of the material gains that result from their increased productivity. These factors give them a sense of satisfaction through the achievement of personal and company goals.
Various decisions taken by WAL-MART for employees development??
More than anyone, Coleman Peterson knows that proper training makes good leaders. As one of only two recipients to receive an ROTC military scholarship to Loyola University in 1966, Peterson went on to become a lieutenant colonel in the ROTC brigade and commander of Loyola's drill team.
Today, Peterson uses those same leadership skills as senior vice president of human resources at Wal-Mart Stores. Ranked No. 4 on the Fortune 500 list in 1995, Wal-Mart's earnings were a whopping $82.5 billion last year. It has an employee population to match: Peterson oversees a workforce of 635,000 domestically and 40,000 internationally (Canada, Brazil, Argentina, Mexico and Far East Asia).
In Bentonville, Arkansas, just a few miles from where President Clinton taught law, Peterson, 48, uses a novel approach to train employees in what is commonly referred to at Wal-Mart as the People Division. Although Peterson's position entails various duties - recruitment, compensation and benefits, organization development processes and labor and associates relations - the most important is training. As Peterson states, "Wal-Mart is in the business of keeping and growing talent."
With four operating units Wal-Mart Stores, Supercenters, Sam's Clubs and Bud's discount stores) in an industry known for its unusually high employee turnover, retention and development of talent is one of the primary challenges Peterson faces. To bring together this decentralized organization, with more than 2,000 locations worldwide, a program called Computer Based Learning (CBL) was installed in all Wal-Mart affiliates using multimedia devices (audio, video, text and graphics), a series of training modules impress upon employees their job responsibilities as well as Wal-Mart's company values.
Peterson says utilizing CBL enables Wal-Mart to deliver the same content and message to everyone and decreases the level of frustration on the job. Because employees can pace themselves for training, they're more motivated to learn once training is completed, the test results of the training sessions are then kept in a database to evaluate employee performance.
No stranger to retail, Peterson honed his human resources skills at such companies as Venture Stores, Osco Drugs and Jewel Companies. As a result' he does not debunk all traditional approaches. He still incorporates classroom instruction and on-the-job training but combines them with CBL to avert turnover and develop management skills.
Teaching employees through innovative technology reinforces Wal-Mart's cultural values. Wal-Mart's system of training exemplifies the power of technology. "If companies are going to be successful in a competitive, global environment, then the capacity to communicate messages is going to be critical," states Peterson. The starting point for Wal-Mart's training is embedding in the employee's mind the culture of the company." our starting point is culture first, then job content," he says. Peterson, believes that by listening to employees and showing that the company appreciates them, employees, in turn, will listen and take care of the customers.
Is there any positive response from employees for the employee training in wal-mart???
No, there not at any positive response by the employee for their employee trainin,but instead.Wal-Mart has been subject to criticism by various groups and individuals. Labor unions, community groups, grassroots organizations, religious organizations, and environmental groups protest against Wal-Mart, the company's policies and business practices, and Wal-Mart customers.
Other areas of criticism include the corporation's foreign product sourcing, treatment of product suppliers, environmental practices, the use of public subsidies, and the company's security policies Wal-Mart denies doing anything wrong and maintains that low prices are the result of efficiencyIn 2005, labor unions created new organizations and websites to influence public opinion against Wal-Mart. By the end of 2005, Wal-Mart had launched Working Families for Wal-Mart to counter criticisms made by these groups. Additional efforts to counter criticism include launching a public relations campaign in 2005 through its public relations website which included several television commercials.
The company retained the public relations firm Edelman to interact with the press and respond to negative media reports and has started interacting directly with bloggers by sending them news, suggesting topics for postings, and sometimes inviting them to visit Wal-Mart's corporate headquarters.
Economists at the Cato Institute suggest that Wal-Mart is a success because it sells products that people want to buy at low prices, satisfying customer's wants and needs. However, Wal-Mart critics argue at the same time Wal-Mart's lower prices draw customers away from other smaller businesses, hurting the community.
Big Bazar, is the chain of retail stores of the big banner Pantaloon Retail (India) Ltd., which in turn is a segment of Kishore Biyani, regulated Future Group of Companies. Moreover the customer friendly ambiance and the organized retailing of products also makes Big Bazar one of the successful retail companies in India.
Big Bazar Overview: Big Bazar, a part of the Pantaloon Group, is a hypermarket offering a huge array of goods of good quality for all at affordable prices. Big Bazar with over 50 outlets in different parts of India, is present in both the metro cities as well as in the small towns. Big Bazar has no doubt made a big name in the retail industry of india, moreover shopping here is further made a memorable experience with the varied rates of discounts on products as well as discount vouchers available in a variety of amounts, like INR 2000, INR 3000, INR 4000, INR 5000 and INR 10000 on all Big Bazar products and accessories.
The variety of product range in Big Bazar: This large format store comprise of almost everything required by people from different income groups. It varies from clothing and accessories for all genders like men, women and children, playthings, stationary and toys, footwear, plastics, home utility products,cosmetics, crockery,home textiles, luggage gift items, other novelties, and also food products and grocery. The added advantage for the customers shopping in Big Bazar is that there are all time discounts and promotional offers going on in the Big Bazar on its salable products.The significant features of Big Bazar: Shopping in the Big Bazar is a great experience as one can find almost everything under the same roof.
Employees Development in Big Bazaarâ€¦â€¦.
The decision of big bazaar that taken for training and development of worker/employees are as follows:
Selects & recruits employees through various sources such as consultancy services ,walks in, Referrals, campus recruitment.
Train & develop employees through its own specialized training centre known as Gurukul. Motivates all employees to perform to their best through various monetary and non-monetary rewards.
Employees are retained by keeping them happy and satisfied through various schemes of the company.
Regular and periodic performance appraisal of all the employees is conducted and suitably rewarded.
Training & development process in big bazaar
Future group has its own training devision for all its employees, known as 'future learning & development limited' (FLDL). All the employees are given training for 20 days in a year spread over different periods.
'Gurukul' which is part of FLDL gives training to all the employees on various skills like team work, dedication discipline improving customer service etc to make them more knowledgeable and productive.
They strive to foster a feeling of well- being in our employees through care and respect , they have several structured processes including employee mentoring and grievance management programmes which are intended to facilitate a friendly and cohesive organization culture. Off-site activities are encouraged improve inter-personal relationship. We also acknowledge the efforts exerted by our employees by organization an annual celebration called 'Pantaloon Day' where we recognize employees who have shown exceptional talent , sincerity and dedication . we have iimplemented an employee suggestion programme called 'prerna' where in the employee can give their suggestions. Every quarter the best suggestion received per zone per format is awarded prize called "golden cap".
What motivates employees?
The main issue that every manager talks about relating to his employees is, that he might have better motivated employee. In big bazaar the scenario is different. Here employees are motivated through various ways and some of the ways discussed below in brief;
Good working conditions
Full appreciation of work that is done
Employer loyalty to employees
Promotion of employees by seeing his/her behavior.
At last of my report I want to conclude that in Wal-Mart, 'one of the best retail company in world 'and Big Bazaar various steps have been taken for the development of the employees such as replacement in the job, by increasing the motivation and morale of the employees through various monetary and non monetary rewards, through performance appraisal, advanced technology for highly knowledgeable employees and various training programme has been impart to the employees for achieving towards the goal effectively and efficiently. Through this Wal-mart and Big bazaar is increasing the morale of their employees, and thus employees development has been achieved.