Module 7-1 Milestone 3

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1 7-1 Final Project: Milestone Three Katie Colon Southern New Hampshire University OL-690 Responsible Corp Leadership January 28 th ,2024

Milestone 3: 7-1 2 Recommendations People Wal-Mart is the largest retailer both nationally and internationally and has approximately 10,500 stores in twenty-four different countries. Employing 2.1 million people worldwide and 1.2 of them in the US alone (Wal-Mart, Corporate Walmart, 2024) . An organization as vast as Walmart encompasses numerous stakeholders, each wielding varying degrees of influence over its strategic trajectory. Ensuring the satisfaction of all stakeholders with the organization's direction is paramount. Over the past decade, Walmart has prioritized enhancing its sustainable footprint, engaging investors, employees, consumers, and suppliers. However, despite these efforts, Walmart has faced scrutiny and criticism over discrimination lawsuits and its stance on wage levels (Tobin, 2023) . While strides have been made to address discrimination, the interests of employees as stakeholders remain only partially met. Therefore, it is recommended to reevaluate employee needs and formulate improvement plans. Walmart's employees have persistently advocated for a wage increase, with the minimum hourly rate gradually rising from $7.25 to $14 by March 2023 (Wal-Mart, Corporate Walmart, 2024) . Studies suggest that higher wages would not only enhance employee health and quality of life but also contribute to gender and racial equity. Research indicates that increased wages could extend employee lifespans, reduce preventable health issues, and alleviate mental health symptoms. Adequately compensated employees feel valued, leading to heightened motivation, productivity, and retention. Following a wage reassessment, utilizing tools like the MIT Living Wage Calculator can aid Walmart in determining region- specific living wage standards, ensuring employees can support themselves and their families (Aneja, 2021) . In the realm of sustainability, Walmart has made significant strides since 2005, focusing on climate, nature, waste, and supply chain people. However, the goal of becoming a 100% regenerative

3 company may seem daunting. To enhance environmental policies, Walmart could prioritize specific sustainability goals, such as transitioning to 100% renewable energy for its facilities. This includes initiatives like transforming all long-haul trucks to be energy efficient and eliminating plastic bag usage in stores in favor of more environmentally friendly alternatives like paper bags or composite plastic bags. Additionally, investing in annual river clean-up initiatives can help mitigate plastic pollution, aligning with Walmart's commitment to environmental stewardship (Wal-Mart, Culture, Diversity, Equity & Inclusion , 2023) . Profit Walmart's sustained growth and profitability are attributed to its commitment to sustainability and expansion endeavors. However, amidst rising inflation, Walmart must maintain a collaborative relationship with suppliers to uphold cost-efficiency and prudent purchasing decisions. It is crucial to mitigate surplus purchases, as overproduction and overstocking can erode profits. While striving for sustainability goals, Walmart must prioritize quality over expediency, understanding that initial investments in superior materials and methods yield substantial long-term savings. Employee turnover rates in the retail industry, averaging around 60%, significantly impact on organizational profitability. Walmart has faced public scrutiny regarding wage disparities and discrimination lawsuits, incurring legal fees and potential settlement claims. To proactively address these issues, it is advisable for Walmart to bolster its Public Relations (PR) and Human Resources (HR) teams. These teams can devise proactive strategies for implementing changes that may impact employees or local communities positively. Furthermore, reviewing and adjusting employee wages can mitigate turnover rates. Increasing wages align with Walmart's commitment to employee well-being and can alleviate financial strain among workers, reducing the number of departures due to inadequate compensation. This proactive approach not only fosters a more stable workforce but also enhances Walmart's reputation as a socially responsible employer.

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4 Implementations People: Implementing change is a crucial endeavor for all organizations, and it requires a systematic approach to ensure effectiveness. Addressing Walmart's negative reputation regarding employee wages is paramount. Reevaluating wages entails sacrifices from Walmart but promises long-term improvements (Wal-Mart, Corporate Walmart, 2024) . To facilitate this process, Walmart should initiate regional focus groups comprising both employees and management. These groups can articulate the cost implications of high turnover rates and the strain of understaffing due to inadequate wages. Furthermore, Walmart can introduce several initiatives to incentivize current employees during the wage review process. These incentives demonstrate appreciation for employees' contributions and enhance morale. The following incentives are recommended (Aneja, 2021) : 1. Hourly Incentives: Offering monetary rewards to employees who voluntarily take on additional shifts beyond their regular schedule. 2. Lump Sum Bonus Incentives: Introducing a bonus program that spans a defined period, such as six weeks, rewarding employees for extra hours worked. For instance, employees who work an additional 48 hours within the specified timeframe could receive a $1000 lump sum bonus. 3. Happy Birthday Day Off: Granting employees a paid day off on their birthdays signifies appreciation for their individuality and allows them to enjoy their special day with friends and family. These initiatives not only demonstrate Walmart's commitment to valuing its employees but also foster a positive work environment conducive to productivity and retention. Plant:

5 To implement the recommendations for Walmart's environmental policy, several steps need to be taken (Wal-Mart, Corporate Walmart, 2024) . Firstly, Walmart should review all planned locations for openings and initiate orders to transition these sites to renewable energy sources. Regarding the recommendation to convert all long-haul vehicles to energy-efficient models, Walmart must engage with its suppliers to negotiate favorable terms and secure the necessary materials for the transformation. They should assess whether it is more cost-effective to retrofit existing vehicles or procure new ones, possibly replacing a set number each quarter until the entire fleet is upgraded. For the final recommendation concerning the reduction of plastic waste, Walmart should collaborate with suppliers to source paper bags, reusable bags, and composite plastic bags. Each store should establish a recycling center to responsibly dispose of current plastic bags, preventing them from contaminating community water sources. Furthermore, stores should implement marketing strategies to encourage customers to bring their own bags, offering incentives for doing so. In cases where customers don't bring their own bags, stores can introduce a nominal fee for the use of recyclable bags, thus discouraging single-use plastic consumption (Wal-Mart, Culture, Diversity, Equity & Inclusion , 2023) . Profit: To effectively implement the recommendations outlined above and sustain Walmart's continued profitability, several steps must be taken. Firstly, Walmart needs to collaborate closely with its suppliers to discern which products can withstand reductions in purchasing power without compromising quality. High turnover rates can significantly impact an organization's bottom line, so Walmart must take measures to mitigate this issue. This involves conducting annual reviews of employee health plans to ensure competitiveness and desirability, as well as

6 conducting regional wage reviews to align with local cost-of-living standards. Hiring dedicated PR and HR staff is crucial for Walmart to address its negative reputation within communities. These personnel will be responsible for reviewing all initiatives and policy changes to ensure alignment with Walmart's new focus on Diversity, Inclusion, and Equality (Wal-Mart, Culture, Diversity, Equity & Inclusion , 2023) . Opportunities 1. Community Stakeholders a. Positive change to the image b. Reduced turnover positively impacts consumers. 2. Industry a. remains a leading retail sustainability organization. b. set the bar for existing organizations. 3. Profitability a. good for business i. short term and the ii. long term? b. opportunities for business growth because of these policies.

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7 References Aneja, S. (2021, February). Total Retail . Retrieved from Out of Fashion: Why Turnover in Retail is So High, and What to Do About it. : https://www.mytotalretail.com/article/out-of-fashion-why-turnover- in-retail-is-so-high-and-what-to-do-about-it Citizen, G. (2022, September). Giving Compas . Retrieved from 12 Facts About Plastic Pollution You Need To Know: https://givingcompass.org/article/10-facts-about-plastic-pollution-you-absolutely- need-to-know Impact, H. (2023, March). Human Impact . Retrieved from A Five Dollar Raise Could Transform Walmart Associates' Health and Well-Being.: https://humanimpact.org/wp-content/uploads/2021/10/Five-Dollar-Raise-Could-Transform- Walmart-Associates-Health-HIP-10-11-21/pdf Tobin, B. (2023, February). Insider . Retrieved from Walmart workers to begin seeing higher paychecks on March 2 but their minimum wage will still be below Amazon, Costco, and Target: https://www.businessinsider.com/walmart-to-boost-minimum-wage-end-month- but-not- enough-2023-2 Wal-Mart. (2022, March 12). WalMart History . Retrieved from Wal-Mart.com: https://corporate.walmart.com/about/history Wal-Mart. (2023, March 12). Culture, Diversity, Equity & Inclusion . Retrieved from Wal-Mart: https://corporate.walmart.com/purpose/culture-diversity-equity-inclusion.com

8 Wal-Mart. (2024). Corporate Walmart . Retrieved from Sustainability: https://corporate.walmart.com/purpose/sustainability

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