Human Resource and Management
Human Resource and Management
Introduction:
I have been a chance to investigate important issues around the strategy of HR of Waisco super stores Ltd. This report will look to address the significant changes needed to ensure the future survival of the company.
Waisco Superstores Ltd is large food retail chain and the company has been in the business world since beginning of the 20th century. They have 185 stores spread across the different parts of England, Scotland & Wales. Their most profit making stores are around the London area and the South-East of the UK.
The company have over 7000 employee working for them and like most of the retailing industry is highly reliant on part time, female labour and casual employment from student for its shop floor employees. Management staff is recruited through a graduate development program which focuses on training individuals on all aspects of the business. Again, like others in the industry Waisco suffers from a medium to high staff turnover, largely associated with unsocial hours work and high proportions of student labour who naturally move to other jobs which related to their studies.
Waisco did have any actively recognised trade union, they were using methods such as employee representation committees to highlight the issues, and this method is fallen disused in recent years. This factor may encourage employee to join Transport and general worker union (TGWU) and it looks as though in the future Waisco will be faced with recognition claim as growing numbers increase its bargaining power.
Waisco main targets the higher end shopper, mainly the affluent AB social grade (High end Professionals and managers) who are more likely to desire good quality food and the price tag that is associated with them. They also have strong market in older shoppers who have more spare cash and value the quality of product. Waisco source quality wherever is possible from local suppliers at its peak freshness and that was the key reason they charge higher price tag.
Waisco aims as a retailer are to ‘combine the convince of super market with the expertise and service of a specialist shop. When implementing any Human Resource strategies it is important t ensure that they support and compliment the overall aim of the business.
As food retail industry as a whole fiercely competitive environment. This competition recently increased further, as the attention of the consumer was brought to the higher price of food charged in the UK, in comparison to other European countries. Consumer had to cope with the financial crisis and recession of recent years which make food retailers faces with radical changes to trade environment that they had become to used.
The luxury and high end product market has been the hardest hit with consumer opting to substitute these goods with cheaper alternative or targeting special offers. The increased competition and desire from the consumer for lower priced goods has seen large retailing firms become embroiled in ‘price wars.
Recommendations:
HR Strategy
Strategy the art of war especially the planning of movement of troop and ships etc, into favourable positions; plan of action or policy in business or politics etc (Oxford pocket dictionary).
Before making decisions upon specific practices within the organisation, the HRM (Human Resource Management) strategy of Waisco must be defined. Strategic HRM has emerged from the ever increasing evidence of the link between HRM practice and organizational performance and has become vital modern business world; this will form the base for our HR strategies.
The Strategic HRM approach differs from the traditional HRM in its orientation towards the overall strategy of the company and adding value and improving profitability. A strategic approach to HRM can contribute to sustained competitive advantage. Within Strategic HRM there are two approach strategies Waisco could adopt; which are the ‘Best Fit approach and the ‘Best Practice.
Both approaches view HR having an important role in supporting organisational strategy and objective. For the best fit, organisation strategy comes first and practice follow this .Lawler (1995, p. 14) states that all business must start with business strategy because “it specifies what the company wants to accomplish and how it wants to behave”. It emphasises the fit between HR activities and the organisations stage of development.
The ‘best-fit school, argues that all strategic HRM activities must be integrated horizontally (consistent with each other) and aligned vertically (linked to the overall strategy of the organisation).In the best fit approach, organisation