Custom «What Makes it Great?» Essay Paper Sample
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Fortune magazine has for long been in the forefront of business marketing with a well aligned analysis program of business management. Each year a list of well performed companies is released, after a proper analysis of key concepts that a good company entails. Various criteria are put in place to determine the most consistent of the great company in the different industries that do exist. For a company to be great, competitive benchmarking has always been employed to ensure that the finding is relevant to industry. Companies to be analyzed are those with high interaction of customers, more operating hours, less complexity, minimal training and relatively low compensation. This was to ensure that there have been relevant findings. Results on the research are then presented on the regard of effectiveness of the practice identified. Mainly, the results focused on the companies that laid great emphasis on the value of people, flexibility and innovative staffing, transparency and well set management policies.
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The reason for greatness
The reason that makes these companies sustain their greatness is because they apply these basic principles of success that has been outlined by the Fortune Magazine. They emphasize so much on employees welfare, the rate of employee retention depends mostly on the profitability. The culture of communication has a higher emphasis, direct communication between the top and the bottom, the inside and the outside to improve on the company’s productivity.
Job scheduling has to be flexible so as the company’s employees adapt to the varied environmental changes that can have adverse effect on the workers. Such conditions like the demographical variations which include the current rise in the number of single parents, workers serving more than one employer, child care issues and the like, has to be addressed properly to attract and maintain the quality workforce.
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Job sharing that take account of adequate job coverage has been popular with service offering companies like nursing and healthcare companies which has maintained their top positions for a reasonable period of time. They have also allowed their employees the freedom to compress their work in a manner that help to cut time on the commuting and thus give them some more time for personal chores.
There has been stress on the staff members to be creative and innovative by maintaining high quality candidates to ensure the organization meet its short term and long term needs. The way these employees are attracted, selected and hired clearly indicates how they will be treated in the course of their employment. In their course of advertising, these firms make use of the of dynamic media and referral awards to attract the needed employees. This enables them to only solicit those employees that are like them in terms of ethics and ability.
A rigorous selection procedure is another tool which has been of much importance to the process of selection. It makes sure that the organization has been the staff with the right attitude, knowledge, abilities and skills. The sampled companies set relatively high standards for selection and go beyond the interview the managers give.
Therefore for a company to have successful employees, selection and recruitment is of much importance. Training that develops specific and clearly defined career paths that make sure the employees are properly developed and maintained. This is usually done in the first few weeks on the job after being hired. These initial stages are quite important to equip the worker with the knowledge and skills necessary for effective job performance. Well advanced companies take advantage of the development projects and clear career paths to maintain and develop professionalism. Job development can also be done from within the job as it covers many types of development from technical to executive and leadership skills.
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Rewards based on profit sharing have also been useful to motivate and maintain transparency and logical program that are more meaningful to the recipient and relate to the goals of the organization. Almost every firm has a clear performance results that is based on incentives. They also offer a wide variety of benefits to employees. Family and community are key features and useful resources in terms of offering the firm with the required labour force and a market of their products.
In my opinion, I feel that the results have grown alongside the profession as there have been different and reliable methods to analyze the best company in matters of public relation and employee development. In addition the attempt to link between performance and rewards, enhance the motivation factor of people’s performance and satisfaction will increase. Profit sharing to employees is also an encouragement to employee and organization success.