Wal-Mart uses growth as a tool to develop their strategies. to achieve the growth that Walmart has chosen as a primary measure, Walmart implements the strategies of Market penetration, Market Development, and Product development. To achieve market penetration Walmart aggressively sells all the product categories to its customer segment by providing them discounts, promotional offers etc. Walmart implements Market development strategy by expanding into different regions and expanding their customer base. Walmart implements Product development strategy by introducing new products, eg: samç choice private label products.
The ideal HR policy for implementing this strategy of growth would include a huge contribution to the employees of Walmart. Hence, HR practices should focus towards better employee management, lucrative incentive plans, Health & other benefits, flexible workplace, proactive workplace etc. By implementing these HR practices employees would feel attached to the brand name and they would work proactively.
Walmart in recent years was deemed not a good organization to work from an employees perspective given the wage structure, treatment to women employees for promotions. Walmart soon understood the importance of these factors and reshaped the HR practices of the organization. Walmart started considering employees as an integral part of the company leading to increased belongingness of the employees towards the company. Walmart motivated female employees to join the workplace and made sure of the fair treatment of all the women. Besides that Walmart gave the authority to employees to act on the spot and take the decision to make the customer satisfied with the service. with a more horizontal and proactive work culture, Walmart could now march towards its vision of growth.
- How effective are these current practices in meeting the strategic HR needs, facilitating the firm's accomplishment of its strategic objectives, and in achieving and maintaining a competitive advantage?