How the company uses its own products or services to enhance the total compensation for its employees
L.L Bean uses their products to share with their employees, they pride themselves on the strategy they used in their earlier days in business. They describe it as back in the days when pay was 18 cents an hour, paid in brown envelopes of cash, Bean surprised employees with bonuses calculated as a percentage of profits (Reed, 2009). They also felt the commitment and obligation they have for their customers and employees. Bean was committed to the quality of life of their employees and customer. They strive for the opportunity to support their charity of choice groups being the United Way and the Portland Symphony Orchestra encouraging and employee …show more content…
L. Beans aligns their benefits with the integrity they displayed within their company. From the start of the business Leon focus his core values on maintaining his commitment to honoring his word to providing 100 percent satisfaction guarantee to his customers. His commitment leads the way for the company to obtain the consultant position for the military. As the company continues to grow L. L. Bean continues to honor their commitment to maintaining customer obligation, which lead to his commitment to the employees. Bean uses their employees as a resource in which the organization has invested and from which it expects valuable returns. (Noe, Hollenbeck, Gerhart, & Wright, 2017 pgs. 462-463). A strategy that continues to work for the benefit of the company and …show more content…
Bean would be to continue the reward program design for the employees increasing their desire to strive for success. The corporation of L. L. Bean believed in profit-sharing with employees long before it became a strategic compensation practice. (Reed, 2009) The loyalty the company presented to their employees demonstrated to the associate reflects the company willing to operate as a family friendly organization. However, during times of declining profit L. L. Bean can communicate with their employees, allowing them to have first-hand knowledge of how the company performance affects their incentives. This will create an environment with no secrets. As a result of the strategic review process, total rewards at L.L. Bean became a core business practice critical to the accomplishment of organizational goals. Traditional benefits offered at L.L. Bean include performance-based bonuses and cafeteria- style health
L.L Bean uses their products to share with their employees, they pride themselves on the strategy they used in their earlier days in business. They describe it as back in the days when pay was 18 cents an hour, paid in brown envelopes of cash, Bean surprised employees with bonuses calculated as a percentage of profits (Reed, 2009). They also felt the commitment and obligation they have for their customers and employees. Bean was committed to the quality of life of their employees and customer. They strive for the opportunity to support their charity of choice groups being the United Way and the Portland Symphony Orchestra encouraging and employee …show more content…
L. Beans aligns their benefits with the integrity they displayed within their company. From the start of the business Leon focus his core values on maintaining his commitment to honoring his word to providing 100 percent satisfaction guarantee to his customers. His commitment leads the way for the company to obtain the consultant position for the military. As the company continues to grow L. L. Bean continues to honor their commitment to maintaining customer obligation, which lead to his commitment to the employees. Bean uses their employees as a resource in which the organization has invested and from which it expects valuable returns. (Noe, Hollenbeck, Gerhart, & Wright, 2017 pgs. 462-463). A strategy that continues to work for the benefit of the company and …show more content…
Bean would be to continue the reward program design for the employees increasing their desire to strive for success. The corporation of L. L. Bean believed in profit-sharing with employees long before it became a strategic compensation practice. (Reed, 2009) The loyalty the company presented to their employees demonstrated to the associate reflects the company willing to operate as a family friendly organization. However, during times of declining profit L. L. Bean can communicate with their employees, allowing them to have first-hand knowledge of how the company performance affects their incentives. This will create an environment with no secrets. As a result of the strategic review process, total rewards at L.L. Bean became a core business practice critical to the accomplishment of organizational goals. Traditional benefits offered at L.L. Bean include performance-based bonuses and cafeteria- style health