LDRCB535 Competency 3

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University of Phoenix *

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Course

535

Subject

Computer Science

Date

Feb 20, 2024

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pptx

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12

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FREE MEALS PROGRAM
TURNOVER VS RETENTION 2 Over $1000 billion in annual cost
The Power of Free Meals • Employee savings • Fosters community • Decreases absenteeism • Increases productivity • Increases retention • Reduces costs 3
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INVESTING IN OUR PEOPLE Free Meal Program is not a “cost” for the change coalition PRESENTATION TITLE 4
Vision and Strategy 5
Communication 6
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Empower Broad-Based Action • Removing obstacles o Troublesome leadership o System issues • Praise leadership accepting the change o Give public “shoutouts” to the first to take proactive initiative on program • Provide benefit training o How redemption will occur o How redemption will show on POS, P&Ls, and other fiduciary reports • Allow two-way conversation o Receive feedback from employees o Address any need for changes in program 7
SHORT-TERM WINS 8 Quarterly benchmarks on employee participation Semi-annual benchmarks on employee retention
Sustain the growth 9
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Anchoring Change • Talk about the success of the Free Meal Program at every opportunity • Share stories about the success • Recognize those individuals that were the first to embrace and “runaway” with the program • Obtain new leadership belief in the program
SUMMARY PRESENTATION TITLE 11 1. Create a sense of urgency. 2. Form a powerful guiding coalition. 3. Develop a vision and a strategy. 4. Communicate the vision. 5. Remove obstacles and empower employees 6. Create short-term wins. 7. Consolidate gains. 8. Orient the culture towards change.
REFERENCES Atkins, J. & Way, S. (2013). Empower Broad-based action. . BCS. Retrieved from https://www.bcs.org/articles-opinion-and-research/empower-broad-based-action/ Castilla, L. (2021). Must-Know Walmart Employment Statistics. Gitnux. Retrieved from https://gitnux.org/walmart-employment-statistics/#:~:text=Walmart's%20employee %20turnover%20rate%20is,'Veterans%20Welcome%20Home'%20commitment CFI Team. (2024). Employee Wellness Programs. Corporate Finance Institute. Retrieved from https://corporatefinanceinstitute.com/resources/management/employee-wellness- programs/ Chamberlain, A. & Zhao, D. (2019). The Key to Happy Customers? Happy Employees. Harvard Business review. Retrieved from https://hbr.org/2019/08/the-key-to-happy-customers- happy-employees Coupe, K. (2022). Walmart Facing Store Manager Shortage Despite Big Pay Package. Morning News Beat. Retrieved from Das, P. (2019). Do employers have the appetite to offer free food? EBN. Retrieved from https://www.benefitnews.com/opinion/do-employers-have-the-appetite-to-offer-free-food Flowers, V. & Hughes, C. (1973). Why Employees Stay. Harvard Business Review. Retrieved from https://hbr.org/1973/07/why-employees-stay Gurchiek, K. (2019). Free Food Is a Tasty Benefit at Some Companies. SHRM. Retrieved from https://www.shrm.org/topics-tools/news/free-food-tasty-benefit-companies Holliday, M. (2021). 10 Benefits of Employee Retention for Businesses. Oracle NetSuite. Retrieved from https://www.netsuite.com/portal/resource/articles/human-resources/ employee-retention-benefits.shtml Lickerman, A. (2010). The Importance of Tone. Psychology Today. Retrieved from https://www.psychologytoday.com/us/blog/happiness-in-world/201008/the-importance-tone Margherio, C. (2019). Building Your Dream Team for Change. National Science Foundation. Retrieved from https://par.nsf.gov/servlets/purl/10148810 Miao, H. (2020). Walmart and McDonald’s are among top employers of Medicaid and food stamp beneficiaries, report says. CNBC. Retrieved from https://www.cnbc.com/2020/11/19/walmart-and-mcdonalds-among-top-employers-of-medicaid-and-food-stamp-beneficiaries.html O’Reilly. (2024). Successful Organizational Change: The Kotter-Cohen Collection. O’Reilly Platform. Retrieved from https://www.oreilly.com/library/view/successful-organizational- change/9781633691933/Text/15_Step_7_D.html Pereira, D. (2023). Walmart Mission and Vision Statements. The Business Model Analyst. Retrieved from https://businessmodelanalyst.com/walmart-mission-and-vision-statement/ Savoury Chef Foods. (2022). 5 Benefits of Providing a Free Meal to Your Employees. LinkedIn. Retrieved from https://www.linkedin.com/pulse/5-benefits-providing-free-meal-your- employees-savoury-chef-foods/ Sechrest, H. (2023). HR managers should remind their employees about THIS all-year-long for successful employee benefits plan engagement.. Indeed. Retrieved from https://www.linkedin.com/pulse/hr-managers-should-remind-employees-all-year-long-plan-holly-sechrest/ Tanner, R. (2023). Leading Change (Step 6) – Generate Short-Term Wins. Retrieved from https://managementisajourney.com/leading-change-step-6-generate-short-term-wins/ Webber, A. (2021). The Employee Turnover Formula & Why It Matters. Team Bonding. Retrieved from https://www.teambonding.com/employee-turnover-formula/ Walmart. (2024). Leadership. Retrieved from https://corporate.walmart.com/about/leadership Whitfield, B. (2023). The True Costs of Employee Turnover. Built In. Retrieved from https://builtin.com/recruiting/cost-of-turnover 12
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