Comprehensive Report on Wesfarmers: Performance and Recommendations

This report provides a comprehensive overview of Wesfarmers, a prominent Australian company. It begins with an introduction to the company, highlighting its establishment and diversified business operations, including retail, industrial, and resource sectors. The report then analyzes Wesfarmers' performance, emphasizing its growth, employee count, and shareholder returns, showcasing its success in managing diverse industries. It details the company's guiding principles of honesty, sincerity, responsibility, and audacity, along with its commitment to employee development, equal opportunities, and a safe working environment. Recommendations are provided for other companies, focusing on employee policies, fair practices, and fostering a positive work culture. The report concludes by emphasizing Wesfarmers as a prime example of a successful and employee-focused organization.

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REPORT ON WESFARMERS
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Table of Contents
INTRODUCTION...........................................................................................................................................3
OVERVIEW OF THE COMPANY ....................................................................................................................3
PERFORMANCE………………………………………………………………………………………………………………………………………..4
RECOMMENDATION………………………………………………………………………………………………………………………………..5
CONCLUSION…………………………………………………………………………………………………………………………………………..5
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INTRODUCTION
There are several employment opportunities in various companies across Australia; however few
of them provide best working conditions to its employees. LinkedIn Lists of the current year
2017 provides us with top 25 countries in Australia with regards to employment. The purpose of
this report is to provide an insight of one such company which is Wesfarmers for this report and
to understand the guiding principles, values and working environment followed by the company
which makes it working worthwhile. The report will start with introduction of the company, an
overview of its performance followed by recommendations for other companies and a
concluding note at the end.
OVERVIEW OF THE COMPANY
Wesfarmers, one of the most prosperous companies in Australia was established in the year 1914
with its head office in Western Australia. It stand number1amongst the most thriving 2000
countries in Australia (IBISWorld, 2016). It is one of the major listed companies in Australia.
Initially, it was formed as a Western Australian farmer’s co-operative; however it broadened its
horizons as a diversified company with a huge product and service base. Its multifarious business
operation comprises of hotels and convenience stores, supermarkets, home improvement and
office supplies - Bunnings Ware house, Officeworks and Home Retail Group, departmental
stores –Kmart and Target, liquor and manufacturing division including companies in industrial
and safety products, chemical, energy and fertilizers (WesCEF), resources such as coal.
PERFORMANCE
Wesfarmers is amongst Australia’s most flourished companies. With approximately 220,000
employees in the year 2016, it is considered as one of the leading employers across Australia. Its
major aim is to generate huge proceeds for its shareholders. Since 1984, the year in which the
company was listed, Wesfarmers total shareholders return (TSR) has been showing an upward
trend. It clearly proves that it is successful in handling varied industries. The company comprises
of nine divisions working in separate industries. Despite of the fact that it is a diversified
company with distinct fields, Wesfarmers has been victorious in sustaining its businesses
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through efficient control and incorporated structure. It not only takes into consideration
fulfillment of customer needs through wide range of commodities and services but also provides
a secure and positive operational setting for its workers. It believes that excellence and conduct
of its employees makes the company triumphant.
By selling essential consumer goods by means of Coles and lesser price nonessential but
desirable products by means of Kmart, Bunnings and Target, Wesfarmers is the most secured
company when it comes to selling products to customers (Knight, 2011). Since the company has
a diversified market, it provides substantial employment opportunities. Each business has its own
discrete tradition. The company follows four essential principles of honesty, sincerity,
responsibility and audacity. Each and every transaction is fairly done; it very well believes the
fact that individuals are bound to make an error and gain knowledge from them, there is sincerity
and integrity when it comes to coverage, opinion and thought. As discussed above that the
company has specified divisions, every single division has been given essential allocation of
resources and resolution making power. All individuals and divisions are liable for their
performance which consecutively safeguard and boost the status of the company. It is well-
structured and formulates valiant resolutions and sustains and promotes intrepid working
conditions.
As on 30th June 2016, the company spent over $8 billion on salaries and remuneration. It is the
one of the best company to work with from safety point of view. Sufficient development in
security is the base of the business which consecutively lowers the danger
and boosts the overall wellbeing of the individuals working in the
organization. Further, it provides positive circumstances to people for
developing their positions within the organization. Huge number of workers
and students takes part in continuous guidance and growth projects
conducted by the company. It provides equal opportunities for employment
irrespective of maturity, race, sex, belief, educational background and
further probable disparity. Special consideration is given for providing equal
opportunities to males and females. Also, it greatly cares to employ
aboriginal people. Hence, such act of indiscrimination makes use of the skills
and crafts of different communities and attracts the most talented people for
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its varied businesses. Further, it enhances their inventiveness which in turn
fulfills the customer needs. Recognition of excellent performance with bonus
and premiums is also an essential part of employee satisfaction followed by
the company. Lastly, a diversity policy i.e. recognizing talents and employing
people from diverse culture is also formulated by the company.
RECOMMENDATIONS
Employee policies and working conditions as clearly mentioned above can help the organizations
around the world in attracting and retaining its workers. Positioning of comprehensible
anticipation for industry and management operation, fixing vigorous monetary and individual
investment systems and providing responsibility and authority of decision making to each and
every division are the three most important factors which helps an organization to be successful
in terms of profitability and employee satisfaction and proves that a conglomerate can be
successful despite of its drawbacks (Mccauley et.al., 2015). Each and every company should
follow equitable policy with no discrimination on any grounds as is followed by Wesfarmers.
Discovery of fresh talent and enhancement not only helps the organization but also attracts large
number of people towards the company. Hence, the other companies should consistently impart
proper training to individuals in various fields to outperform themselves. Further, taking proper
security measures and incessant development in the same field can help in retaining the current
staff within the organization. Identification of problem faced by the staff and providing solution
rather than taking steps against them will further strengthen their commitment towards the
company which will in turn help in increasing its productivity and output and would not only
draw more people towards it but will help in retaining the present staff.
CONCLUSION
At the end, we conclude that with the current employment scenario and operational environment
Wesfarmers undoubtedly is one of the best places to work in Australia. Despite of being a
multinational company with wide range of products and services, it is flourishing in terms of
efficiency and service. Hence, for an organization to attract and retain its employees, it needs to
be honest, indiscriminate, fair, rewarding, recognize fresh as well as existing talent, provide
security, delegate authority to make decisions to its employees and should conduct proper
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training programs and above all should believe in the people it is employing. Wesfarmers is truly
the best example to demonstrate the purpose of the report.
REFERENCES
McCauley,C.D., DeRue, D.S., Yost, P.R., & Taylor, S., (2015), Experience Driven Leader Development,
Wiley: Australia
Knight,E., (2011), Wesfarmers’ challenge is to outperform Australia, Available at
http://www.smh.com.au/business/wesfarmers-challenge-is-to-outperform-australia-20110818-
1j0ah.html (Accessed 11th September 2017)
IBIS World.,(2016), Wesfarmers Limited – Premium company Report Australia, Available at
https://www.ibisworld.com.au/australian-company-research-reports/retail-trade/wesfarmers-limited-
company.html (Accessed 11th September 2017)
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