documents mx harrahs entertainment inc

Harrah’s Entertainment, Inc.: Rewarding Our People Background • Harrah’s History – Fortune 500 public gaming corporation – Headquarters based in Paradise, Nevada – Annual revenues of $8

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Harrah’s Entertainment, Inc.:

Rewarding Our People

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• Strategic Issues Facing The Firm

• Action Research Model

• Conclusion

• References

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Background

• Harrah’s History

– Fortune 500 public gaming corporation

– Headquarters based in Paradise, Nevada

– Annual revenues of $8.9 billion

• New operating strategy in 1997

– From service driven to customer focus

• Key Personnel:

– Phil Satre becomes President / COO in 1991 & CEO in 1994

– Gary Loveman was hired COO / CMO in 1999 & current CEO since 2004 – Marylin Winn, offered VP of HR in 1999

(Source: Delong & Vijayaraghavan, 2003)

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Front Burner Issue

How to motivate employees with current incentive plan

or newly designed programs to improve customer service metrics at each of Harrah’s establishments?

“How do you change the working premise of our people from being

controlled by the limitations to realizing their possibilities”

By Gary Loveman, Chief Operating Officer, Harrah’s Entertainment, Inc (Source: Delong & Vijayaraghavan, 2003)

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External Environment: Key Success Factors

• Service Differentiation Customer Service

• Brand Recognition

• Customer Loyalty

• Attractions

• Marketing

• Number & Type of Game Offerings

• Physical Environment & Atmosphere

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External Environment: PEST Analysis

• State regulations influence who can gamble, where, and what types

Political & Legal

• Fluctuations can impact business

• Labor market demographicsEconomic

• September 11Social/Cultural

• Information Management Systems

• Player equipmentTechnological

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External Environment: Porter’s 5 Forces

Moderate Weak Moderate Weak-Moderate Strong

•Harrah’s buys in high volumes

•Consumers

•Price sensitivity

•Economic conditions

•High barriers to entry

•Economic conditions

• Regulations

•Highly profitable industry

•MGM Mirage

•Park Place

•Strong brand recognition

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Weakness

High Expectations Impacted Psychological Contract

No Ties to Operating Income Competitors Copying Strategy

Opportunities

Re-evaluate Incentive Program Create Ties to Operating Income

Set targets for Customer Satisfaction

Solicit Feedback From Employees

Threats

Maintaining a Competitive Advantage

Intense Competition Legal and Regulatory Environment

Online Gaming

S W O T

(Source: Delong & Vijayaraghavan, 2003)

(Source: Datamonitor , 2007 )

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HR Gap Analysis

• Harrah’s HR Gap Analysis

– Is a tool used to compare actual employee satisfaction with potential employee satisfaction.

– Is Harrah’s HR strategy bringing the company to the next level?

• How effective is Harrah’s HR Strategy?

• Where does Harrah’s HR strategy want to be in the future?“

"My job is to make money for Harrah's Entertainment by creating a

great climate for customers and employees.“

By Marilyn Winn, VP of HR, Harrah’s Entertainment, Inc (Source: Abowitz, 2010)

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HR Gap Analysis

• How effective is Harrah’s HR Strategy?

– Reduce the turnover rate

– Implemented job application and interview processes

– A new reward system was instituted

– The entire property had to increase its scores to benefit

– To maximize customer’s positive experiences

• Where does Harrah’s HR strategy want to be in the future?

– Needs to motivate, encourage, solicit buy-in from all employees

– Remove blinders from decision-making by self-analyzing the strategy

– Must develop a feedback loop mechanism

– Implement a reward system that would recognize employees’ contribution

(Source: Young, 2011)10

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Strategic Issues Facing The Firm

• How to implement Harrah’s customer relationship strategy?

• How to maintain a competitive advantage by utilising key

performance indicators in the gaming industry?

• How to implement a gain-sharing program that would

recognize employees contribution based on the achieved target?

• How does Harrah’s decrease its volatility by predominantly being in the in the U.S market?

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Action Research Model - Step 1: Gathering Data

Type of Information Needed

• How employees view

management

• What motivates employees

• Who wants to learn what

• Why headquarters and

operations do not get along

how to integrate the two

cultures

How to get the Info

• Employee and management surveys

• Observation

• Interviews

• Company document reviews

• Anonymous employee comment drop boxes

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Action Research Model - Step 2: Feedback

The “What” of Feedback

• Important findings from data gathering such as:

– Management’s view of themselves vs Employee’s view

– Potential causes of problems

– Correlations between customer service and financials

The “How” of Feedback

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Action Research Model - Step 3: Diagnosis

• Management acts strictly like management leadership?

• Employees feel demotivated by compensation system

difficulty reaching incentives

• Employees want intrinsic as well as extrinsic rewards; i.e Pride

in company and monetary rewards

• Headquarters and management are decreasing productivity due

to lack of communication and collaboration

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Action Research Model - Step 4: Action Planning

• Communicate to everyone why, how, and when changes are going to occur

• Hire new employees that fit learning culture

• Implement job rotation and job shadowing to encourage

leadership potential

• Succession planning

• Create realistic performance objectives

• Provide leadership training to management

• Educate operations personnel and headquarters personnel

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Action Research Model - Step 5: Action Taking/ Interventions

Organizational Learning Interventions

– Encourage learning as part of culture

– Job rotation & job shadowing

• 5 Disciplines to Becoming a Learning Organization

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Structural Interventions Geared Towards Becoming a Learning

Organization

• Define performance objectives

– Goal setting interventions: instructs employees about the goal setting

process and how to set specific goals (Source: Saks & Haccoun, 2010)

• Have employees help create these objectives

– Self-coaching: reflection of one’s own performance to establish

performance maintenance and improved goals

– Upward feedback: providing employees with data on the frequency with

which they displayed desired behaviors (Source: Saks & Haccoun, 2010)

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Management Development Interventions

• Educate managers on their functions:

1 Controlling (less)

2 Organizing

3 Planning

4 Leading (Emphasis)

• Interpersonal Skill Assessment

• Interpersonal Skill Learning

• Interpersonal Skill Practice

• Interpersonal Skill Transfer (Source: Saks & Haccoun, 2010)

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Action Research Model - Step 6: Evaluation

• Follow up with all managers and employees

• Communicate : (open communication)

– Outcomes on a daily basis  debriefing at end of shifts/

workdays

– Debriefing at end of week, month, year

– Areas still in need of improvement

– Take any suggestions on how to improve

– Outline where improvements have been made

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Action Research Model - Step 6: Evaluation

Monitor and Evaluate

• Productivity

• Revenues

• Employee Turnover/Retention Rates

• Customer Satisfaction- Surveys

• Employee Satisfaction- Surveys

• Compare employee comment box items

• Change where needed

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Questions?

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Seeklogo (2008) Harrah's - Logo Vector Download Retrieved March 19, 2013

Senge, P (1990) The fifth discipline: The art and practice of the learning organization New York: Doubleday.

Wikipedia (2013, March 18) Caesars Entertainment Corporation Retrieved March 20, 2013, from Wikipedia, The Free Encyclopedia: http://en.wikipedia.org/wiki/Caesars_Entertainment_Corporation

Young, M.-L (2011, April 27) Harrah’s Entertainment, Inc.: Rewarding our People Retrieved March 21, 2013, from Word

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