The paper “ Woolworths’ Good Performance Management System” is a meaty example of the case study on human resources. Performance management is the creation of a work setting that enables people to perform to the best of their abilities. The financial performance of Woolworths and remuneration policies are delivered in consultation with all employees. The remuneration policy committee of Woolworths is aligned with the firm’ s financial and strategic business goals. Woolworths has a people policy committee that helps in reviewing Woolworths’ remuneration policies, sourcing for HRM advice, and represents shareholders in matters related to HRM.
Woolworths also has a culture of recognizing high achievers. The remuneration program at the firm targets the top management only while lower cadre employees are recognized through promotion. There is a need to have a balanced scorecard for the evaluation of both financial and non-financial performance at the firm. The reward system and remuneration need to include all employees. Woolworths’ business environmentA business environment refers to both internal and external environments. Internal business environment analysis is essential for strategic decision making in any firm. It helps a firm to have a greater understanding of itself by evaluating their resources and capabilities.
Woolworths limited is one of the two largest chain supermarkets in Australia. It is referred to as “ Woolies” in Australia (Woolworths, 2011). It was founded in the 1920s. According to Armstrong & Appelbaum (2003), Woolworths limited supermarket also has branches in New Zealand. Woolworths limited leads in the retailing business of food, take away liquor, poker machine operation, and hotel machine operation in Australia (Woolworths, 2011). Woolworths Limited has over seven hundred and seventy-seven branches in Australia.
It operates under different brand names such as Big W, Woolworths supermarkets, Dick Smith Electronics, Woolworths Liquor, Caltex/Safeway, Tandy, Dick Smith PowerHouse, Caltex/Woolworths, Dan Murphy’ s, BWS and Safeway liquor (Woolworths, 2011). The commitment of Woolworths limited to serve its customers has enabled it to remain outstanding in terms of market capitalization in the Australian chain stores business.
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Woolworths. 2011. Home. Retrieved from http://www.woolworths.com.au