Compensation Strategy of Walmart Compensation System of famous company Thù lao lao động Hệ thống lương thưởng. Giới thiệu về công ty Walmart. Introduction of Walmart. Walmart Company Profile. Compensation Package of Walmart. Salary of Walmart. SWOT of Walmart. Benefit of Walmart. Nonfinancial and financial benefit of Walmart. PESTEL Walmart. Phân tích môi trường bên trong bên ngoài của Walmart. Phân tích SWOT Walmart. Phân tích PESTEL Walmart. Điểm mạnh điểm yếu của Walmalt. Walmart problem about politics... Factor affecting the compensation of Walmart. Nguồn nhân lực của Walmart. Số nhân viên của Walmart. Human Resource Information of Walmart. History of Walmart. Cash compensation. Incentives. Salary of big company.
1 Nation Economics University Faculty of Human Resource Economics and Management Topic: Compensation of Walmart Subject: Compensation Management Lecturer: Pham Thi Bich Ngoc Members No Name Code Nguyen Thi Thu Ha 11181360 Nguyen Hien Chang 11180697 Do Hoang Dat 11180898 Nguyen Thi Bich Hanh 11181598 Pham Thi Huyen Trang 11185197 Hanoi, 2021 Page | Contents INTRODUCTION I COMPANY OVERVIEW Company Profile Human Resources Information II Compensation Management of Walmart Compensation strategy Competency Based Pay Philosophy 11 Cash Compensation 12 4.1 Basic Pay 12 4.2 Competitive Positioning 13 4.3 Pay Structure 17 4.4 Incentives 18 Benefits program at Walmart 19 5.1 Insurance 19 5.2 Childcare 20 5.3 Health and wellness 20 5.4 Financial perk 21 5.5 Reimbursements 21 5.6 Retirement 22 5.7 Other benefits 22 Work - Life Balance in Walmart 23 III Strength and Weakness in Compensation of Walmart 24 IV Factor affecting this compensation of Walmart 25 A, Internal factors: 25 Compensation Philosophy of Walmart 25 Page | Walmart’s mission: “We save people money so they can live better." 26 Worth of a Job: 26 The Organizational Ability to Pay 26 Employee related 26 B, External factors: 26 1.Cost of Living 26 2.The Economic 27 3.Laws 27 4.Competitor 27 5.Labor Unions 27 6.Markets 28 V RECOMMENDATIONS 28 CONCLUSIONS 30 REFERENCES 31 Page | INTRODUCTION Compensation management is one of the human resource management functions that deals with every reward individuals receive in exchange for performing an organizational task in a fair, equitable and logical manner In any company, employers want to pay as little as possible to keep their costs low, while employees want to get as high as possible As a result, the role of compensation management is vital to meeting the needs of both employees and the organization, while maintaining stable development of the company Compensation Management includes various areas However, this essay is mainly aimed at analyzing the Compensation system and practices in Walmart one of the most popular brand in the world, particularly their pay for performance plan It is necessary to determine whether the compensation in this company is consistent with its overall business strategy and with employee's needs We will be able to single out strengths and weaknesses of the compensation as well as the impact of factors on the Compensation system and practices, pursued by the management of Wal-mart Then, we will make recommendations that could improve it The essay may contain unexpected errors We hope that Ms.Ngoc will sympathize and comment so that the group can improve the work Our group really appreciates your help! Page | I COMPANY OVERVIEW Company Profile Wal-Mart is one of the largest retailers in the United States and all over the world: the company handles operations through super centres, and discount stores What started small, with a single discount store and the simple idea of selling more for less, has grown over the last 50 years into the largest retailer in the world Each week, approximately 220 million customers and members visit approximately 10,500 stores and clubs under 48 banners in 24 countries and eCommerce websites With fiscal year 2021 revenue of $559 billion, Walmart employs over 2.3 million associates worldwide Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunities Currently it operates in China, Canada, Brazil, Japan, and the United Kingdom Vision: Everyone Included By fostering a workplace culture where everyone is - and feels - included, everyone wins Associates are happier, perform at their best and in turn, provide better service to Walmart’s customers and members Mission: The Global Office of Culture, Diversity & Inclusion’s mission is to create an inclusive culture where all associates are engaged to deliver on the purpose of saving people money so they can live better Why are associates, not employees? “Individuals don’t win, teams do,” Walton once said If you worked for Wal-Mart, Sam Walton was your partner, not your boss Walmart takes all of its effort to make employees feel like they are part of the company, one of the facts proved about this reward is the use of the term “association” instead of “employee”, by referring the employees as associates, it can make them feel more engagement with the company Another fact would be by calling all their levels with their first name and only displaying the first name on the ID badge Sooner, from hourly associates to top managers or even company founders call each other by their first names only Everyone in the company is getting more involved by calling the other’s first name because it can create a family-oriented business Page | instead of boss-oriented one As a result people at Walmart are full of respect regardless of their position Human Resources Information Now, Walmart Company has over 2.3 million associates and this number increases year by year The graph shows the uptrend of the staff quantity from 2005 to 2021 of Walmart Walmart Company has associates working in 27 countries, – 1.6 million in the U.S alone The below map could describe this distribution: Page | Walmart is the largest company in the aspect of number of employees, compare to other big company: Page | Source: https://www.statista.com/statistics/264671/top-50-companies-based-onnumber-of-employees/ II Compensation Management of Walmart Compensation strategy Walmart’s compensation strategy is mostly using base pay that follows the market rate Employees get paid by the hours they work Pay rates are different and depend on the job position and working department relative to the organizational structure Walmart uses job evaluation systems to provide internal equity and determine the basis for wage rate They evaluated the worth of each job in terms of its skills, knowledge, responsibility or duties required and converted it into an Page | hourly, daily, weekly, or monthly wage rate It significantly affects employee productivity and the achievement of organizational goals For instance, the wage for a cashier is now $11.55 which is only slightly higher than the minimum wages of $11.40 in Ontario This causes a high turnover rate as a lot of staff are working part time and frequently quit due to the low pay Walmart uses employee recognition as part of their pay-for-performance compensation strategy Walmart offers many incentives for its workers Awards are used to recognize productivity gains, special contributions or achievements to the organization For example, Walmart offers personalized gifts, vacations, theatre or sports tickets or gift cards to reward employee-of-the-month These non monetary awards are very effective because it can make employees feel appreciated for their effort and contribution while underscoring a company value at the same time Wal-Mart's compensation plan is based on an internal equity compensation approach In internal equity based compensation, organization rewards or compensates the employees fairly according to the relative value of their jobs within the organization On the other hand, market based compensation is a method of utilizing market pay data for evaluating organization's pay level and then deciding the compensation of employees Wal-Mart provides fair compensation to its employees based on their performance and contribution to the company to attract and retain skillful employees In addition, Wal-Mart conducts the annual review of the performance of the company management and employees to reward them Wal-Mart considers several factors such as skills level, the efforts, responsibility and working condition of employees, while compensating them Company focuses on internal equity based compensation to provide fair compensation to management, executives and employees Internal equity based compensation encourages employees to perform well and increase contribution in organization that can help Wal-Mart to compete in the market Page | 10 => The company’s compensation strategy is meant to create a competitive environment that will challenge its associates to work harder and produce better results Compensation Package Walmart Stores Incorporated is one of the largest retail stores in the world It is most appropriate for Walmart to have a compensation package for its employees The company offers jobs for all levels of people, starting at an entry level position that allows an employee to climb the company ladder WalMart’s positions range from a cashier to a manager, corporate positions and beyond In addition to the position the average full time wage for its employees is $15.25 hourly, an employee can work full time or part time The store managers earn between $50,000 and $170,000 a year and the company promotes every year at least 160,000 people (WalMart, 2020) ❖ Compare compensation at Walmart and elsewhere (annually) + Walmart: 32,703USD + Average American’s compensation: 52,000 USD + Average compensation of e-commerce industry: 73,000 USD + Average compensation of Logistics industry: 74,750 USD + Average compensation of Retail industry: 49,789 USD + Average compensation of Information Technology industry: 91,250 USD + Walmart U.S store managers earn an average of approximately 83,789USD, which is 85% above the national average => From the above comparisons, we can see that the compensation at Walmart is lower than market, much lower than the average compensation in the US and other businesses in the same industry The average compensation of Page | 10 17 (Source: Salary.com, Walmart 2021) In the retail industry, average compensation a director can get range from $154,594 to $200,955 It’s clear that Walmart pays for competitive positions much higher than the market 4.3 Pay Structure The Walmart pay plan is organized around seven levels of job difficulty for hourly workers, called Position Pay Grades (PPGs), ranging from cart-pushers (Level 1) and cashiers (Level 3), to cake decorators (Level 4) and customer service managers (Level 6) Each subsequent pay grade offers 20 to 40 cents more than the previous level, according to the document This means that the base rate of pay for a top hourly position at Walmart, like a check-out supervisor, is $1.70 more than that of the lowest paying job Employees can receive annual raises for good performance, capped at 60 cents Salaries can also go up when management decides to adjust a store’s base pay to meet market demands Page | 17 18 Hourly employees are eligible for quarterly bonuses if their store exceeds profitability expectations For details, eighty three percent of stores achieved that distinction in the spring of 2020, according to Walmart press releases, prompting the company to pay out $750 million in bonuses Since the beginning of the year, in-store associates have received more than $1 billion in quarterly incentive payouts, said Lundberg, the corporate spokesman 4.4 Incentives Walmart offers many incentives for its workers For example, the company gives recognition to high-performance employees The optional APU credits are also incentives to motivate workers to improve their knowledge, skills and abilities Walmart employees can improve their performance and plan a long-term career through continuing education with APU These incentives address the human resource management objective of motivating workers, especially in aiming for promotion and contributing more to Walmart’s success Walmart.com pays an average of $2,726 in annual employee bonuses Bonus pay at Walmart.com ranges from $305 to $26,000 annually among employees who report receiving a bonus Employees with the title Senior Product Manager earn the highest bonuses with an average annual bonus of $26,000 Employees with the title Personal Shopper earn the lowest bonuses with an average annual bonus of $305 + Quarterly bonus, monthly bonus: Walmart employees will get quarterly bonus, monthly bonus according to the business performance of the organization Walmart employees who get a pay increase, however, will no longer qualify for quarterly bonuses Employees who not get a raise are still eligible for the bonuses Ex: On 25 November 2020, Walmart additionally rewarded all employees with a quarterly bonus worth $319 (£240) million following on from a strong third-quarter business performance + Performance bonus: Full-time employees at Walmart and Sam’s Club will receive $300 (£242) and part-time and temporary employees will be given $150 (£121) Page | 18 19 Ex: The bonus, which will be paid out to all US employees on 24 December 2020, is to recognise their hard work during the pandemic is estimated to cost Walmart $388 (£292) million Benefits program at Walmart Walmart has a considerable list of benefits The following is an overview of these benefits: 5.1 Insurance All associations at Walmart and their immediate family can get health insurance at a very low price which includes primary doctor, pharmacies, vision, and dental Walmart maintains employee motivation through these benefits The health insurance plans include, among others, a vision plan, dental plan, life insurance, accidental death & dismemberment insurance, and accident insurance These benefits address the human resource management goal of employee retention - Dental insurance: Employees have at least one free cleaning a year - Disability insurance: + Short-term disability basic is automatically provided by Walmart – at no cost to employees – and provides up to 50 percent of their average weekly wage, up to $200 per week (except in California, Hawaii, Rhode Island and New Jersey) + Short-term disability enhanced coverage increases employees' benefit to 60 percent of their average weekly wage, and has no maximum weekly benefit except in New York, which has a $6,000 weekly maximum + State disability plans automatically cover associates in California, Hawaii, - New Jersey, New York and Rhode Island Associates in these states are not eligible to enroll for Walmart’s enhanced coverage, except in New York where a similar plan is available Health insurance: Walmart does offer health insurance benefits to its employees and offers health savings to its customers WalMart Health Insurance is available for full time and part time associates More than one half of Walmart’s employees receive health care insurance for themselves Page | 19 20 and for their families through Walmart, amounting to over one million people Almost 95% of their entire staff has coverage through some provider, either through Walmart or another source According to the US Census, almost 17% of the employed United States population is unemployed, so Walmart’s 5% rate is well below the national average Depending on the state, individual coverage is available for as little as eleven dollars a month and children can be covered for both full time and - part time associates for only fifty cents per day Vision insurance: employees at Walmart will get eyes check every year and be able to buy glasses, eyewear, lenses, with low cost at Walmart Vision Centers - AD&D insurance: World-class treatment for serious conditions Associates enrolled in most Walmart medical plans have access to some of the best specialists and hospitals in the country through Walmart’s Centers of Excellence program - Life insurance: Provided employees with SmartLife insurance, which include term life insurance and whole life insurance 5.2 Childcare - 16 weeks of paid time off for new birth moms Walmart offers an enhanced maternity benefit and parental leave policy that allows birth moms to receive up to 16 weeks of paid time off New dads, non-birth moms and adoptive parents are also offered a full six weeks of paid parental leave In addition, Walmart offers a $5,000 adoption benefit Qualified full-time hourly and salaried employees in the U.S are eligible 5.3 Health and wellness - $9 gym membership Physical wellness is also so important, which is why Walmart’s employees have access to thousands of fitness locations with the Walton Life Fitness Pass - Partnerships with centers of excellence for quality care Page | 20 21 Employees enrolled in most Walmart medical plan options have access to centers of excellence for various serious health procedures Walmart has created partnerships with select outstanding healthcare institutions like Cleveland Clinic, Johns Hopkins Hospital, Mayo Clinic and others to provide full coverage (yes, full coverage!) under most Walmart medical plan options for certain specialty care for Employee like cancer, spine or joint (hip and knee) replacements, transplants, heart and weight loss surgery - No-cost counseling sessions Emotional wellness is important now more than ever At no cost to Walmart’s employees, through Resources for Living, they offer three individual face-to-face sessions with a licensed counselor per year 5.4 Financial perk - Employee discount: 10% discount in Walmart stores Employees and their family members save 10% on general merchandise, fresh fruits and vegetables at any Walmart store If employees work at Sam’s Club, they receive a free Sam’s Club Plus membership, valued at $100 per year - Stock options:Walmart workers are given a lower/discount price to buy stock from Walmart They offer an associate stock purchase plan with company matches - Stock purchase plan: A company match for stock purchases Through the Employee Stock Purchase Plan, Walmart matches 15% of the first $1,800 Employee contribution, up to $270 per plan per year 5.5 Reimbursements - Tuition reimbursement: College for just a dollar a day The organization has achieved its goals through training employees, benchmarking and sharing ideas that could effectively lead to the promised incentives Seminars and workshops enabled directors, managers, team leaders, Page | 21 22 and supervisors to gain skills, experience, and knowledge on how to coordinate, unite, and relate with each other In the other aspect, front line employees can take advantage of Walmart’s $1-a-day, debt-free program, Live Better U, to earn associate’s and bachelor’s degrees in business, supply chain management, technology, health care and more In addition, Walmart covers the full cost of earning a high school diploma for employees and their eligible family members 5.6 Retirement Walmart has a 401(k) plan with a 6% match Long-term financial well-being is critical for organization’s associates, and Walmart makes it easy to double employee's retirement savings by matching 6% of their 401(k) contributions The benefit is available to full- and part-time hourly U.S associates and associates are eligible to begin saving on their first day of work 5.7 Other benefits - - Employees mentoring program: employees get paid while training, during orientation they are officially a Walmart Associate, and they will undergo a 90 day training period with Walmart Pathways Program as well as hands-on training with fellow team members A financial incentive for healthier life choices: Employees and their - families can be rewarded just for making better choices with the Thrive ZP Challenge of Walmart Eat healthier, take an afternoon walk or even save a little more money — all for a chance to win part of a $1 million prize pool Virtual doctor visits with no co-pay: Employees enrolled in most Walmart - medical plan options can choose to video chat with a doctor or talk to a mental health specialist through Doctor On Demand when it’s convenient for them And because of COVID-19, Walmart has waived the co-pay Meal: Walmart provides employees with paid lunch and free breakfast Page | 22 23 Work - Life Balance in Walmart The Work Life Balance at Walmart is rated: + By 4715 employees putting it in the Top 25% of similar size companies on Comparably + 53% of Walmart employees are satisfied with their work life balance while 52% feel they are burnt out ➔ A well proportioned work life balance is necessary to keep employees happy and productive About 74% of the employees at Walmart work eight hours or less, while 6% of them have a very long day - longer than twelve hours The Majority of Walmart employees are satisfied with their work life balance and feel burnt out In general, employees in the Customer Support department and employees with Entry Level experience believe they have good work life balance while employees in the Legal department and employees in the Executive department think there is room for improvement The following charts show the percentage of How Employees Rate Walmart’s Work Life Balance ❖ Walmart Expanding Maternity and Parental Leave Page | 23 24 Walmart says it's also expanding its maternity and parental leave policy because of the tax reform law Full-time hourly workers in the U.S will get 10 weeks of paid maternity leave; fathers and partners will get six weeks of paid parental leave Walmart's full-time hourly workers have previously received up to eight weeks of maternity leave at half-pay, with no parental leave benefit for fathers or partners The new policy will give full-time hourly workers at Walmart stores the same maternity and parental leave benefits as the company's salaried employees The changes affect more than million hourly workers The retailer is also creating a new benefit to assist associates with adoption expenses The benefit, which will be available to full-time hourly and salaried workers, will total $5,000 per child Employees who adopt also will be able to take advantage of paid parental leave III Strength and Weakness in Compensation of Walmart Strength ● Wal-Mart provides Weakness fair ● Walmart employees are low paid and compensation to its employees based not given fair compensation compared to the on their performance and contribution to the company to attract and retain skillful employees ● Competency based pay system rest of the retail industry Walmart's pay and employment policies have been the focus of protest by some workers and outside labor groups seeking to organize Walmart encourages employees to become a high achiever that can help Wal-Mart to grow and improve its performance ● Walmart offers many incentives employees ● In recent years, Wal-Mart has declined in the rate for the unionization of employees The company’s compensation rate is below to employees like gifts,vacation, movie tickets These non monetary awards are very effective because it can make employees feel appreciated competitors in its field This is a weakness that the company needs to tackle to improve the satisfaction of its employees and customers This is also seen as a negative impact on the economy, for their effort and contribution while being that the way they operate their underscoring a company value at the compensation plan affects other companies in Page | 24 25 same time ● Walmart's their surrounding areas insistence Lower wages means on lower employment rates, and ultimately, less keeping most hourly workers part- customers due to lowered customer service time, so as to avoid having to provide ● Walmart employees still raise a complaint a variety of benefits available to full- in regards to poor compensation packages that time employees have caused economic hardship for some employees ● Wal-Mart does not consider performance appraisal as a strategy to motivate women workers who make up 65 percent of Wal-Mart hourly paid workforce ● Walmart doesn’t provide holiday pay for employees (except Christmast) Organization stops holiday pay for year, it’s a reason to make employee’s satisfaction decline ➔ SUMMARY: As above information, it is found that Walmart has lag-the-market compensation policy, also called the market-minus philosophy Under this strategy, Walmart purposely pay their workforce lower than the market average Low-wage business model serves one purpose: Walmart can maximize profits IV Factor affecting this compensation of Walmart A, Internal factors: Compensation Philosophy of Walmart The human resource management approach in employee compensation and career development is founded on the minimization of costs Walmart is committed to minimizing the compensation packages without compromising the performance of employees The company has put in place career development strategies whose aim is to minimize turnover among employees by ensuring that there is maximization of the level of fit between the worker and their job positions Page | 25 26 Walmart’s mission: “We save people money so they can live better." “By running an everyday low cost company, we deliver every day low prices on great merchandise — and help customers around the world provide for their families” said by Walmart Hence Walmart pays for their employees with low wages for giving their customers low price products Worth of a Job: Walmart always gives employees fair compensation according to their role, level, and situation The wages and salaries tend to be higher for jobs involving exercise of brain power, responsibility laden jobs, creativity-oriented jobs, technical jobs With competitive positions, Walmart is willing to spend a lot of money to pay for employees With other positions, the compensation will depend on the performance, skill, value that employees create for the company, The Organizational Ability to Pay The revenue and profit of the company is one of the factors that decide an employee's bonus For example, monthly bonus, quarterly bonus, yearly bonus for employees will be higher if the profit of Walmart is higher Employee related In addition to all the above factors, employee related factors are also important in determining wage structure at Walmart These factors include performing on the job, seniority experience, and membership in the organization and their potential B, External factors: 1.Cost of Living The cost of living index also influences the employee compensation, in a way, that with the increase or fall in the general price level and the consumer price index, the wage or salary is to be varied accordingly Page | 26 27 2.The Economic A depressed economy generally increases the labour supply and lowers the market rate On the other hand, a booming economy results in greater competition for workers and the price of labour is driven upward Since the cost of living is commonly used as a pay standard, the economy’s health exerts a major impact upon pay decisions Cost of living typically rises as the economy expands 3.Laws Laws on minimum wages, hours of work, equal pay for equal work, payment of dearness and other allowances, payment of bonus, etc., have been enacted and enforced to bring about a measure of fairness in compensating the working class One law that greatly determines the compensation given to part time workers in the Wal-Mart stores is the Davis- Bacon Act which sets the prevailing wage The Fair Labor Standards Act is responsible for setting the minimum wage that should be complied with from the national level while the states use the Davis – Bacon Act or its equivalent This means that the company must meet certain specifics to avoid being at loggerheads with the authorities as well as labor activists 4.Competitor One should not overlook the importance of competition, such as Amazon.com or Shopify or Costco offering better health insurances to the workers 5.Labor Unions The powerful labor unions influence the compensation plan of the company The labor unions are generally formed in the case,where the demand is more, and the labor supply is less or are involved in the dangerous work and, therefore, demands more money for endangering their lives.The non-unionized companies or factories enjoy more freedom with respect to the fixation of the compensation plan Page | 27 28 The company has been known for its negativity towards unionized workers The company has numerous anti- union strategies that are intended to ensure that the associates approach the management directly to air their grievances This, however, doesn’t mean that the labor unions have no effect on the company There have been several complaints launched by labor unions to protest against poor pay and bad working conditions suffered by the Wal-Mart employees To counter this kind of negative publicity, the company was forced to increase the hourly pay and provide health insurance for all its part time employees after only six months of service The labor unions, thus, affect the company’s compensation practices even though it has successfully kept its workers out of the unions 6.Markets Wal-Mart stores inc has a policy of performance based incentives that include bonuses paid after the financial results have been posted These bonuses are paid based on how well the company has performed during that financial period The basis of this strategy is that the company’s performance directly reflects how hard the associates have worked during that period However, Wal-Mart Stores Inc is a retail business that depends heavily on the market for its performance When the inflation is high, or market prices go up, the company suffers as well However, since it majors in the sale of basic commodities that are unavoidable, the company still makes profits even during difficult financial times Thus, the market does not necessarily dictate the compensation practices as such, but it could have a bearing on the performance based incentives in severe cases V RECOMMENDATIONS With the issues outlined above, we have some recommendations for Walmart to retain, attract employees and increase productivity and efficiency As well as helping the company grow and grow stronger in the retail field First, Wal-Mart should establish a proper compensation plan that would increase its productivity and at the same time, the company will be in a position to avoid some lawsuits against it, which are an expense to the company and consume a lot of time Page | 28 29 Second, it would be recommendable for Wal-Mart to establish a proper workers’ Union that is managed independently and that negotiates issues such as poor remuneration on behalf of workers Establish a properly managed Union for the workers would be appropriate so that it can be used as a platform for communicating their grievances instead of taking matters to court, which adversely affects the company reputation; moreover, advocating for such a union will enable the company retain workers for a long period since the union helps the company managing issues related to workers Thirdly, recommendation for Walmart is to develop a formal human resource program and fair performance review process to manage employee compensation When employees perform at a higher level, their pay rate may be justified according to their performance appraisals Providing faster promotions is another way to keep people motivated and improve their performance Employees can feel trusted and excited to move into the new position Fourthly, Walmart can improve the resulting imbalance by giving a more equitable emphasis on the incentives of managers, supervisors, and rank-andlife employees An applicable recommendation is to use an incentive plan that gives better incentives for low-ranking employees Instead of focusing on supervisors and managers, Walmart’s HR management can increase incentives for sales personnel, who are the bottom line and foundation of the retail business 5.Finally, Provide comparable compensation with high paying competitors Paying your employees a high competitive wage will also help reduce the perception of a career elsewhere as the superior choice Providing your employees with proper compensation will also help them feel confident that they can remain in your employment long-term because they are capable of taking care of their needs as well as their family needs Page | 29 30 CONCLUSIONS To conclude, Compensation management plays a large role in HR because it can impact employee retention, the hiring process, company performance, and team engagement The Compensation has brought impressive results in Wal-Mart Company as well as unexpected drawbacks Above is the research of my group about the Compensation System and Practices of Wal-mart Company Although our group has tried to implement, due to limited company information as well as professional knowledge, the essay may encounter some unnecessary errors The group hopes that Ms Ngoc will sympathize and comment so that the group can better Our group really appreciates your help! Page | 30 31 REFERENCES Works Cited Hunt, Steven T Common Sense Talent Management : Using Strategic Human Resources to Improve Company Performance Jossey-Bass, Vol 21, 5, 2014 240245 Kondo, Karli, et al Understanding the Intervention and Implementation Factors Associated with Benefits and Harms of Pay for Performance Programs in Healthcare Department of Veterans Affairs, Health Services Research & Development Service, Vol 2, 3, 2015 23- 45 Wal-Mart Stores, enhancing-sustainability/supporting-worker-safety-and-dignity Vol 12, 2, 2016 1- 15 Inc https://corporate.walmart.com/2016grr/enhancingsustainability/supporting-worker-safety-and-dignity https://www1.salary.com/WALMART-INC-Executive-Salaries.html Page | 31 ... purpose: Walmart can maximize profits IV Factor affecting this compensation of Walmart A, Internal factors: Compensation Philosophy of Walmart The human resource management approach in employee compensation. .. Balance in Walmart 23 III Strength and Weakness in Compensation of Walmart 24 IV Factor affecting this compensation of Walmart 25 A, Internal factors: 25 Compensation. .. Average compensation of e-commerce industry: 73,000 USD + Average compensation of Logistics industry: 74,750 USD + Average compensation of Retail industry: 49,789 USD + Average compensation of Information