Introduction The Walt Disney Company characterizes a truly massive business composed of four strategic professional units (SBUs) which, with the consideration of the consolidated revenue, represented roughly a whopping 35.5 billion dollars in 2007. The four SBUs are Disney Consumer Products, Studio Entertainment, Parks and Resorts, and Media Networks Broadcasting, and these can be further subdivided into 28 categories and are composed of a surplus of brands. The only two fundamental commonalities that can be deduced upon inspection of the entirety of the Walt Disney Company’s holdings are entertainment and information. Every business activity the organization is engaged in is related in some manner to providing its consumer base entertainment
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Businesses would be able to better to retain those with the greatest talent if they can pay based upon the individual and his market value. Pay needs to move from a determination based upon job descriptions to being based upon a person’s professional development activities. Total compensation includes pay, recognition, promotion and development opportunities, and non-monetary benefits (Milkovich, 2010). The Walt Disney’s Company strategy incorporates a compensation strategy that rewards performance. This includes individual merit increases and the performance objectives to be met in order to receive them. Disney does rewards workers, but individual rewards are limited to recognitions. Total compensation must be individualized and should provide a wide array of potential benefits, such as bonuses, recognition, promotions, training, and more. Training begins at the Disney Organization where cast members are taught to be leaders, regardless of their job descriptions (Disney, n.d.). Educational experiences at the Disney Organization are geared to meet the learning style of the individual employee. Employee empowerment plays a large part in retention at The Walt Disney Company. Through their training, Disney make its employees understand they’re empowered to solve guest problems with no set amount [of money] if they think it’s required” (Kukreja, 2011). This empowerment extends beyond attending to guest needs through the co-worker recognition program. Every employee is empowered to positively recognize another member’s quality of work and effort to make the guests’ experience exceed their expectations. Managers who observe an employee being exceptionally helpful or diligent at their job are encouraged to reward their employee with cards, trinkets, gift cards, or just a pat on the back. Such
Businesses would be able to better to retain those with the greatest talent if they can pay based upon the individual and his market value. Pay needs to move from a determination based upon job descriptions to being based upon a person’s professional development activities. Total compensation includes pay, recognition, promotion and development opportunities, and non-monetary benefits (Milkovich, 2010). The Walt Disney’s Company strategy incorporates a compensation strategy that rewards performance. This includes individual merit increases and the performance objectives to be met in order to receive them. Disney does rewards workers, but individual rewards are limited to recognitions. Total compensation must be individualized and should provide a wide array of potential benefits, such as bonuses, recognition, promotions, training, and more. Training begins at the Disney Organization where cast members are taught to be leaders, regardless of their job descriptions (Disney, n.d.). Educational experiences at the Disney Organization are geared to meet the learning style of the individual employee. Employee empowerment plays a large part in retention at The Walt Disney Company. Through their training, Disney make its employees understand they’re empowered to solve guest problems with no set amount [of money] if they think it’s required” (Kukreja, 2011). This empowerment extends beyond attending to guest needs through the co-worker recognition program. Every employee is empowered to positively recognize another member’s quality of work and effort to make the guests’ experience exceed their expectations. Managers who observe an employee being exceptionally helpful or diligent at their job are encouraged to reward their employee with cards, trinkets, gift cards, or just a pat on the back. Such