BC15-2 - Human Resource Management Assignment, Majan University College, Oman
Task: Present a case analysis.
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Answer - Business Management Case analysis
Brief about the case
Costa Vida looks forward to bringing fresh cuisines to United States customers.
The industry however is way too competitive that employees and customers pose constant challenges.
Nathan, CEO of Costa Vida, makes a study to understand what goes wrong in his firm and when he compares with In-N-Out, a burger joint, he observes that compensation strategy has to be reworked.
Employees receive $10 per hour on an average at In-N-Out and they also receive a range of benefits and this has contributed to the returns of the firm.
Due to the vast opportunities in the industry, workers tend to switch between firms easily.
Issues identified
Finding employees
Retaining employees - the topmost issue
Compensation strategy of Costa Vida is weak
Conceptual linkages
Compensation strategy is directly connected to the organizational culture and demonstrates the capabilities of a firm.
Compensation of the employees indicates the strength of the business and HR strategy.
When skills of the employees are extraordinary, the returns double and the returns directly lead to hikes in the compensation and build the reputation of the firm (Bucalo, 2018).
Externally fair payment
When the payment is externally fair,
The brand becomes competitive and more employees display interests to work
Attracting right talents can result in better production rates (Hoof, 2017)
It is feasible to satisfy customers.
Paying externally fair can also stay inline with the labor market rules and regulations.
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Internally fair payment
Paying internally fair is important as the company works to gain profits and the budgets should be chalked out carefully.
Internally fair payment can offer remuneration based on the employee's capability and eliminate differences between them (Hoof, 2017).
Analysis
Costa Vida has grown to 50 franchises in a period of 13 years and it is the right time to build a productive employee culture with the right compensation strategy draft.
With the employee's pay management, it is possible to communicate the vision to the audience and create better branding to Costa Vida.
Analyzing the present situation of the firm, it is clear that employees are in surplus but the culture is not attractive.
Nathan has to communicate to all his franchise managers to recruit employees and begin the association with training to fix the pay system.
It is mandatory to draft a plan that informs the returns for every dollar spent towards a resource.
Recommendations
The firm has to draft a compensation strategy that looks similar to In-N-Out. For instance, Costa Vida can offer free meals, good wage, flexible schedule, retirement plan and flexible schedule that will improve employee satisfaction towards the brand.
Subsequently, Nathan has to map the talent landscape of Costa Vida and adopt a pay strategy that is not only competitive but also attractive to the labor market (Hoof, 2017).
It is important to draw a line about the affordability of the brand and willingness. It is absolutely fine to compromise a bit on the margins initially to build a sustainable culture on a longer run.
Fair salary scale will have to be established and circulated by Nathan to all the franchise managers to achieve uniformity and motivate employees (Bucalo, 2018). This will also keep the internal stakeholders aware of the offerings.
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