Creating Opportunities for Employees

Image: iciinc.com

Corporate Problem: A large retailer wants to enhance their customer experience. To achieve this goal they need their employees to “lean in” and accept greater responsibility. However, significantly large employee-turnover is wasting resources, affecting the culture, and diminishing value for customers.

Ironbound Strategy: Create more employee value. The more valued employees feel the happier and more engaged they become in the company’s mission, and the less likely they are to leave.

Ironbound Action: Walmart’s vision is to exceed the customers’ expectations through an inspired, dedicated team of associates. In April 2015 Walmart raised its starting salary to $9/hour and will further raise it to $10/hour in early 2016. Along with the planned wage increases the company is also piloting a program to create clearer career pathways for associates to earn more and seek promotions.