Strategic Plan for Reducing Employee Turnover at Walmart: Leadership

This project provides a strategic plan for Walmart's senior leadership to address employee turnover. It begins by identifying the problem and its organizational setting, highlighting issues like skill mismatches, lack of opportunity, lack of appreciation, and unequal wages. The plan recommends Key Performance Indicators (KPIs) such as retirement rate, training effectiveness, internal promotion rates, and salary competitiveness for analyzing the problem. It then proposes practical methods and strategies, including efficient hiring, competitive compensation, appreciation programs, statistical and thinking methods, employee engagement, and employee involvement in company strategies. Furthermore, the project suggests methods for knowledge sharing, incentivizing knowledge sharing, and revamping training and onboarding. It also emphasizes the importance of exit interviews and provides recommendations to reduce employee turnover, such as providing ongoing education, offering the right benefits, flexible working schedules, and transparency. The project is supported by references to relevant research.

Plan for senior leadership

Problem and its setting within
the Walmart
The problem being addressed is “employee
turnover” in the Walmart. Its setting within the
organization is made possible with the help of
• A worst match between the employee’s skills and
job: The job analysis and job descriptions should
be used to minimize the chances of hiring
unsuitable employees.
• Lack of opportunity: Sometimes the applicants do
not appropriately understand the job description,
as a result, they are misled by the Walmart.

Continued…..
• Feeling of not being appreciated: The
employees need to be appreciated time on
time for the recognition. The employees feel
a lack of appreciation which cause delays
and disinterest in the work (Amankwaa &
Anku-Tsede, 2015).
• Unequal wage structures: Inequality in the
pay structures is the great reason for
dissatisfaction among the employees to quit
the job at Walmart.

Methods recommended for collecting
information and insight about the problem
A performance indicator or key performance indicators (KPIs)
can be recommended as a performance measurement at
Walmart (Mittal & Dhar, 2015). The problem of employee
turnover can be analysed by the following indicators:
• Retirement rate: It is specifically important for the Walmart
to develop a strategic workforce plan. The retirement rate
can be estimated by considering at the number of
employees who are retired as a percentage of the complete
headcount.
• Knowledge attained with training: IT can help Walmart to
view the effeciency of the employee training. It can be
decided by conducting an exam, checking exam pass rate
percent and average score percent.

Continued…
• Internal promotions Vs. external hires:
This ratio assesses the people employed
at the company are reflected for the
internal promotions versus the number
of external hires.
• Salary competitiveness ratio: The salary
attractiveness ratio can be used to
assess the opponents of the
compensation options.

Practical methods and strategies to be used
for analyzing information, data, and
perspectives
Statistical thinking method
• An efficient hiring strategy: It does not have role
as how hard a company makes effort to
integrate a new employee into the business but
the wrong fit is always the inappropriate fit.
Forming and realizing hiring strategy guides
more than the skills of the job applicants. It is
the great way to search the ppropriate match for
the working environment (Linton, 2018).
•

Continued..
• Compensation and bonfire packages: The compensation is
considered more than the money. Whereas salary is the
prime significant thing but the employees are anticipated
to opt a position which pays less but offers more benefits.
These benefits include health insurance, maternity leave,
paternity leave and paid vacation days are vital to the
members with families.
• Appreciation and rewards: Various workers leave jobs
because they feel a derth of gratitude for their hard work.
A bonus system, thank you mail, recognition reward or
newsletter are the examples which can support the
company in succeeding its operations by retaining
employees.

Continued…
Thinking methods
• Spend time with the employees: A vigilant
review of the company’s performance data
represents the conversations between a
leader and the employees.
• Measure output instead of input: It is
suggested to the company to become
output focused than measuring the inputs.

Continued…
• Be productive about engagement: The
employees should be engaged in Walmart
by higher pay, promotions, recognition,
interesting work, appreciation and more.
• Involve employees in company strategies:
When the employees are involved in the
strategies of the company they feel more
connected to their work.

Continued
Methods for knowledge sharing
• Encourage various forms of knowledge:
Walmart should take knowledge sharing
initiative to make employees feel
comfortable in a multitude of ways. It makes
people comfortable and ensures that their
voice is being heard. When employees feel
that their point of view is being considered
than they are likely to stay loyal towards the
company(Johnson, 2017).

Continued…
• Incentivize knowledge sharing: The employees
in the organization are like to being rewarded.
There are various ways to reward employees
who exemplify the knowledge sharing
movement (Bradenberg, 2018).
• Revamp training and onboarding methods: The
training and onboarding methods often seem
unrelated. The new hires in the organization
can be collaborated by giving a mentor.

Continued…
Methods for increasing innovation
• An exit interview process should be executed for
the employees who leave the organization willingly
as well as unwillingly. A method can be developed
to determine the conditions of the employee’s
parting. The feedbacks can be encouraged by the
employees are being terminated.
• The exit interview questions should be constructed
to petition candid feedback from the leaving
employees. The questions should be asked which
contribute their decision to resign.

Continued…
• The reasons should be examined for leaving the
jobs. The particular attention should be paid to
the instinctive terminations and attendance
records for the questions about job satisfaction
and employee morale (Bolman & Deal, 2017).
• The meeting should be conducted with the
supervisors and managers regarding departing
employees. The feedback should be attained
from the supervisors who assess employees
subject to termination.

Recommendations
It is recommended to the Walmart to reduce
employee turnover rate by providing on-going
education and clear paths to the advancement. The
existing employees in the company can be retained
by offering the right benefits. These benefits and
perks help in keeping employees happy, engaged
and healthy. It is recommended to the Walmart to
offer flexible working schedules to the company.
The company is also suggested to be transparent
with its employees. It encourages employees to feel
valued as their input will be heard.

References
Amankwaa, A., & Anku-Tsede, O. (2015). Linking
transformational leadership to employee turnover: The
moderating role of alternative job
opportunity. International Journal of Business
Administration, 6(4), 19.
https://www.forbes.com/sites/lizryan/2016/08/01/emplo
yee-turnover-is-a-leadership-problem/ -
266246953bc8
Mittal, S., & Dhar, R. L. (2015). Transformational
leadership and employee creativity: mediating role of
creative self-efficacy and moderating role of knowledge
sharing. Management Decision, 53(5), 894-910.

Continued…
Linton, I. (2018). How to Fix Employee Turnover
With Leadership Concepts. Retrieved on 15th
December 2018 from:
https://smallbusiness.chron.com/fix-employee-turno
ver-leadership-concepts-38954.html
.
Bolman, L. G., & Deal, T. E. (2017). Reframing
organizations: Artistry, choice, and leadership. John
Wiley & Sons.
Johnson, C. E. (2017). Meeting the ethical
challenges of leadership: Casting light or shadow.
Sage Publications.