introduction to management facebooks employee management problem

2023 has written that Facebook Figure 1 is an online social network platform belonging to the Meta Platforms company.. According to a Meta report, in 2022, Facebook has 2.94 billion mont

GROUP ASSIGNMENT MKT1802-HCM-SUMMER2023

Course : Introduction to Management (MGT103) Lecturer : Tạ Minh Thảo

Group : 5

1 Phạm Minh Khiêm SE182206

4 Nguyễn Minh Hiển SE183372

Table Of Contents

INTRODUCTION 2

Overview of Facebook 2

Facebook’s employee management problem 2

ANALYSIS 3

Market 3

Company 3

SWOT analysis 3

Challenge 4

Recommendation 5

CONCLUSION 6

REFERENCES 7

APPENDICES 9

Figure 9

Group member assessment 11

INTRODUCTION Overview of Facebook

In the Encyclopedia Britannica, Hall, M (2023) has written that Facebook (Figure 1) is an online social network platform belonging to the Meta Platforms company In 2004, Mark Zuckerberg, Eduardo Saverin, Dustin Moskovitz, and Chris Hughes—all Harvard University students— together created Facebook, which now is the largest social network in the world According to a Meta report, in 2022, Facebook has 2.94 billion monthly active users

Everyone can freely access Facebook as it is free of charge Facebook provides a place for everyone to connect and share their moment with photos, videos, and text updates By creating personal profile, a people can establish relationships with others and companies worldwide – according to Hall, M (2023) Maryam, M (2022) argued that, with the large assessment from marketers, there is no doubt that most

of Facebook’s revenue comes from advertising In the fourth quarter of 2020, Facebook earned about

$27.2 billion from advertising in ad revenue (Facebook, 2021) (Figure 2)

Facebook’s employee management problem

After years of research, Sheera, Adam, and Ryan (2022) found that, from the day Facebook has been published in 2004, the company has continuously hired more staff It had 87,314 employees as of the end of September, which was the most ever However, it is stated by Jessica, G (2020) that although having spent many years trying to reduce the racial gap, they still struggle hire promote, and retain to , Black and other underrepresented minorities

In the company’s 2019 annual diversity report (Meta, 2019), it was found that there was only a modest increase in the number of female, black, and Hispanic employees over the past year The report showed the number of female employees increased from 36.3% in 2018 to 36.9% in 2019, while black and Hispanic workers combined went from 8.4% to just 9%

In The Washington Post, Elizabeth, D and Nitasha, T (2021) wrote about the issue that the EEOC initiated a federal inquiry into Facebook last summer after having received allegations of bias in hiring, promotion, and pay Three Black job candidates claim in the EEOC complaint that they met all the published job requirements but were turned down after the interview stage They said Facebook

interviewers informed them that the firm was searching for individuals who are “Culture fit” “There is

no culture-fit checkmark on an application form, but at Facebook, it is like this invisible cloud that hangs over candidates of color,” Lindsey (Figure 3) – who worked for Facebook as a recruiter – said

in The Washington Post

These problems have given rise to allegations of prejudice as well as discrimination, affecting the company’s reputation and causing conflict within it

ANALYSIS Market

Facebook competes in the highly competitive worldwide social media industry, which gained traction rapidly and a significant increase in users parallel with the rising of internet users (Yash, C., 2020) The market is dominated by a few major players, including Facebook, Instagram (owned by Facebook), Twitter, Snapchat, and TikTok Facebook has a significant market share and a large user base - 2.94 billion monthly active users in 2022 (Meta, 2022), allowing it to leverage its platform for advertising and monetization opportunities

Company

Facebook is a technology company that provides social networking services through its platforms – according to Hall, M (2023) The company's business strategy mainly relies on advertising income from user interaction and data-driven targeting - Maryam, M (2022) Facebook has a strong financial position, with high revenue and profit margins, enabling it to invest in research and development, acquisitions, and infrastructure expansion In a report for Facebook’s financial results for the third quarter of 2021, the company’s current assets as of September 30, 2021, were $75.4 billion, consisting

of $14.5 billion in cash and cash equivalents, $43.6 billion in marketable securities, $12.1 billion in accounts receivable, and $5.3 billion in prepaid expenses and other current assets (Meta, 2021) SWOT analysis

Strength: As a social media platform, Facebook day by day widens its popularity as it is welcoming a huge number of users every month (Meta, 2022) Consequently, it has improved its brand recognition and raised its reputation as well With a wide range of users in over the world, Facebook can earn a

huge profit from advertising activity Moreover, adapting to the fast-changing of the technology era, Facebook always innovates in their business and technology, which helps them attract more potential investors

Weakness: The biggest problem that Facebook always faces is how to keep the user’s data safe But according to several reports, most people expressed their disappointment in the way that Facebook is doing to keep their private information – stated by Jane, W (2021) Due to the rapid expansion of Facebook, other businesses have entered the social network market, which has boosted competition significantly Besides, Facebook also faced several criticisms regarding diversity and inclusion within the company

Opportunity: Facebook has the chance to branch out onto other avenues outside social media It achieved this by entering the rapidly increasing virtual reality (VR) industry – mentioned by Lucas, M., (2021), which was created because of game firms introducing this technology Additionally, Facebook has innovated its products, allowing many consumers to gain more advantages from the platforms Aside from the chat feature, Facebook may seize the chance to expand its offerings with retail, music, video creation, and more humorous parts This section outlines the opportunities the business may seize

to accelerate its growth

Threat: In the situation of highly competing with numerous market players such as Twitter, and Google, Facebook said to be in danger of losing its users and revenue by Zoe, K (2023) Another thing to is consider is that Facebook struggles to come up with fresh concepts and the newest trends since its products don't differentiate themselves enough Due to whispers of electoral interference in several nations and the selling of user data to third parties, Facebook has endured negative criticism over the years It has been extremely difficult for new users to register, regardless of their best efforts to brush this off

Challenge

Facebook, like many other countries around the world, has faced some challenges in how they treat employees who are in different cultures or underrepresented minorities One of the significant challenges is the presence of unconscious biases in the hiring and promotion processes As mentioned

by Elizabeth, D and Nitasha, T (2021), Facebook is facing a federal investigation by the Equal

Employment Opportunity Commission (EEOC) into allegations of bias in hiring, promotion, and pay The EEOC also designated its inquiry as “systemic”, meaning it suspects company policies may be contributing to widespread discrimination As a result, this will create a negative perspective in people’s minds and make them concern more about whether apply to Facebook or not Facebook, consequently, will lose a huge number of employees who are potential and innovative

Recommendation

To address these problems, the most important thing that Facebook should consider is to have a clear and effective strategy in order to create an equitable and inclusive workplace environment According

to our research, we have marked out some possible solutions that Facebook can apply:

The first thing to do to is recognize the problem The Manager should investigate the bias that exists among the employees to understand and directly decide solutions A survey from Leadership IQ (2020) shows that only 29% of employees say that management "always listens to concerns about discrimination without blame or defensiveness,” (Figure 4) and that only 23% of women say that top leadership would always take action if they reported discrimination (Figure 5) Constructing regular surveys may be an effective way to know what your employees want, which can help increase their trust

Although Facebook already has anti-discrimination policies in place (Meta, 2023), they need to regularly check whether those policies are still working When reevaluating, Facebook should bring

employees into the process Get their opinions about the implementation of those policies and include them in the company’s strategy meeting Claire, S (2022) mentioned that it will not only provide your staff with a chance to express their needs, but it will also show that you are committed to eradicating prejudice If previous initiatives haven't been effective, this may assist boost staff buy-in

Individuals, especially managers, should be trained to recognize the current bias and how to avoid

it in the workplace It is indicated by Raelynn, R (2021) that the hiring process’s participants may benefit from bias training Hiring managers may alter their mindset and address bias problems on a personal level if they can recognize their own prejudices

Finally, Facebook should make a broad recruitment system Mr Ellis - president and CEO of Integrity Development Corp in Cincinnati (Figure 6) – sharing in his conference session that the company

should make sure that recruiting panels are diverse, and carefully consider who will conduct both structured and unstructured interviews in order to reduce implicit bias in hiring Unstructured interviews are more informal and can assist a candidate feel more comfortable, compared to structured interviews, which ask the same questions of every candidate to maintain consistency – reported by Kathy, G (2020)

CONCLUSION Facebook, as a giant technology company, also faced several problems related to its employee management, which seriously affect ed the company’s reputation and revenue Responding to criticisms and allegations of prejudice as well as discrimination, Facebook is trying hard to expand its diverse workforce day by day In the 2021 diversity report, they also shared some of the initiatives and programs that Meta has implemented or supported to foster a more inclusive culture and community, such as investing in diverse talent pipelines, providing mentorship and sponsorship opportunities, and creating accountability mechanisms However, continuous efforts and improvements are necessary to address the existing challenges and build a truly diverse and inclusive workforce By implementing these recommendations, Facebook can enhance its reputation, retain talented employees, and contribute to a more equitable society

REFERENCES _ Hall, M (2023) ‘Facebook’, Britannica, History & Society Available at: https://www.britannica.com/topic/Facebook/

_ Meta, 2022, Meta Reports Fourth Quarter and Full Year 2022 Results Available at: https://investor.fb.com/investor-news/press-release-details/2023/Meta-Reports-Fourth-Quarter-and-Full-Year-2022-Results/default.aspx/

_ Maryam, M (2022), 10 FACEBOOK STATISTICS EVERY MARKETER SHOULD KNOW IN 2022 [INFOGRAPHIC] Available at: https://www.easybib.com/guides/citation-guides/harvard-referencing/how-to-reference-a-website- rvard/ha

_ Facebook, 2021, Facebook Reports Fourth Quarter and Full Year 2020 Results Available at: https://investor.fb.com/investor-news/press-release-details/2021/Facebook-Reports-Fourth-Quarter-and-Full-Year-2020-Results/default.aspx/

_ Sheera, F., Adam, S., and Ryan M (2022), ‘Meta Lays Off More Than 11,000 Employees’, The New York Times, 9 November Available at: https://www.nytimes.com/2022/11/09/technology/meta-layoffs-facebook.html/ (Accessed: 12 July 2023)

_ Jessica, G (2020), ‘Facebook diversity report: Efforts still failing Black and Hispanic employees, especially women’, USA Today, 15 July Available at: https://www.usatoday.com/story/tech/2020/07/15/facebook-diversity-african-american-black-hispanic-latino-employees/5430124002/

_ Meta, 2019, Facebook 2019 Diversity Report: Advancing Diversity and Inclusion Available at: https://about.fb.com/news/2019/07/2019-diversity-report/

_ Elizabeth, D and Nitasha, T., 2021, ‘A recruiter joined Facebook to help it meet its diversity targets

He says its hiring practices hurt people of color’, The Washington Post, 6 April Available at: https://www.washingtonpost.com/technology/2021/04/06/facebook-discrimination-hiring-bias/

_ Yash, C (2020), Social media marketing for businesses: Organic promotions of web-links on Facebook Available at: https://www.sciencedirect.com/science/article/pii/S014829632100432X#fn2

_ Meta, 2021, Facebook Reports Third Quarter 2021 Results Available at: https://investor.fb.com/investor-news/press-release-details/2021/Facebook-Reports-Third-Quarter-2021-Results/default.aspx

_ Jane, W., 2021, ‘Facebook faces mass legal action over data leak’, BBC News, 16 April Available at: https://www.bbc.com/news/technology-56772772

_ Lucas, M (2021), Facebook’s entry into VR advertising isn’t going too well Available at: https://techcrunch.com/2021/06/21/facebooks-entry-into-vr-advertising-isnt-going-too-well/

_ Zoe, K., 2023, ‘Facebook: Daily active users fall for first time in 18-year history’, BBC News, 3 February Available at: https://www.bbc.com/news/business-60238565

_ Raelynn, R (2021), Workplace Bias Available at: https://eddy.com/hr-encyclopedia/workplace-bias/#

_ Meta, 2023, Meta employee benefits Available at: https://www.metacareers.com/facebook-life/benefits/?page=1

_ Claire, S., (2022), ‘Five Ways Business Leaders Can Address Workplace Discrimination In 2022’, Forbes, 11 March Available at: https://www.forbes.com/sites/forbeshumanresourcescouncil/2022/03/11/five-ways-business-leaders-can-address-workplace-discrimination- -2022/?sh=1fd66c5338edin

_ Kathy, G (2020), Try These Strategies to Reduce Implicit Bias in Your Workplace Available at: https://www.shrm.org/resourcesandtools/hr-topics/behavioral-competencies/global-and-cultural-effectiveness/pages/try-these-strategies- -reduce-implicit-bias-to in-your-workplace.aspx

_ Meta, 2021, Facebook Diversity Update: Increasing Representation in Our Workforce and Supporting Minority-Owned Businesses Available at: https://about.fb.com/news/2021/07/facebook-diversity-report-2021/

APPENDICES Figure

Figure 1: Facebook

Figure 2 Facebook’s 2021 Report: