Managing Human Capital in Woolworth: Importance of Pay Scale and Job Security

MBA 5005 Managing Human
Capital
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Table of Contents
Executive Summary.........................................................................................................................3
INTRODUCTION ..........................................................................................................................4
MAIN BODY...................................................................................................................................5
Topic 1.............................................................................................................................................5
Topic 2.............................................................................................................................................7
Topic 3.............................................................................................................................................8
Recommendation ............................................................................................................................9
CONCLUSION ............................................................................................................................10
REFERENCES .............................................................................................................................11
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Executive Summary
Human resource management is my defined as a strategic approach to efficiently and
actively managed individuals within organization. Human capital management mainly aim
towards enhancing the value and ROI of employee in an organization and create and manage the
system to encourage and motivate employees. In simple terms human capital management is
transforming the additional administrative function and undertake various process like recruiting,
training, compensation, payroll and performance management. Present report is conducted on
Woolworth which is an Australian chain of supermarket and grocery stores. Report identifies a
case study in which company workers went in a strike due to lack of pay and job security. This
issue cause series problems in company in which they face higher employee turnover and
negative response from industry. Report underlines the viewpoint of different path is about the
importance of pay scale and job security the practices that Woolworth is having for job security
and pay scale from the analysis of Maslow hierarchy theory. It has been identified that it is
essential for organization 2 fulfill basic level needs of employees which is inclusive of pay scale
and job security in order to assure higher growth in industry.
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INTRODUCTION
Human resource management is mainly defined as a strategic approach to efficiently and
effectively manage people within a company in order to enhance overall productivity and
profitability of organization and assure higher competitiveness industry. HRM department within
company is mainly designed to enhance overall performance of employees and further provide
them guidance motivation and lead them to fulfill organization goals in effective way. Human
resource management plays essential role such as recruitment and selection, performance
management, learning and development, succession planning, compensation and benefits, human
resource information system, HR data analytics and more. It is one of the most vital aspect
within an organization which engage in the process of encouraging employees retaining them
providing them motivation to enhance their performance to fulfill organization objectives
ineffective manner. In this modern business environment human resource management is facing
challenge in terms of facing competition from rivals within industry in which competitors in
business environment are taking use of attractive form of compensation benefits and competitive
pay to recruit skilled and talented employees (Gerhart and Feng, 2021). Along with this, this
department is also facing challenge to motivate employees in a competitive manner in order to
retain them within company for longer period of time. Human resource management is essential
and important for organization performance as it is also benefit them to retain talented employees
for longer period of time.
Present report conducted on Woolworth which is operating as an Australian chain of
supermarket and grocery stores in retail industry and headquartered in New South Wales,
Australia. Present report discuss the case study analysis of Woolworth and the problem company
is facing and certain recommendations through which they can overcome the issue in well
defined and effective manner.
MAIN BODY
Topic 1
Introduction of case study
Supermarket giant Woolworth faced widespread industrial strike with as many as 2000
workers went on strike due to pay and job security. This seriously caused major problem for
Woolworth in operating its roles and responsibilities in retail industry (Woolworths faces wave of
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