The company had received a high rating in different areas like employee turnover, compensation, work diversity and morale Prashanth and Gupta, [pic 1] Figure 1: In addition to this, there are so many types of reward strategies and mostly companies used two strategies such as Intrinsic Rewards and Extrinsic Rewards Bussin and Van, Thus, FedEx Company is providing rewards to their workers by increasing salaries which is totally based on their performances Bussin and Van, Nevertheless, this system really provides some constructive results towards the performance of the company Kaur, Currently FedEx providing services in more than countries and their core business is to provide transportation services around the globe and also they delivers businesses products in different parts of the world Fedex.
Furthermore, by the use of degree appraisal system in FedEx, it allows them to get their best managers. FedEx, previously known as Federal Express, is a major player in the package delivery market.
This appraisal system is creating awareness among all of the employees and also to the senior management. This kind of appraisal system will motivates the managers and they start cooperating with their workers otherwise they will lose the position very soon and due to this risk they work really hard to keep their position safe.
It is the procedure to obtain, analyze Performance management in fedex corp commerce essay records information regarding the employees of the company to evaluate and improve their performances. Therefore, each year over of FedEx workers participates in this program. FedEx Official Logo, Source: This system is totally based on the understanding of the needs of the organization and its employees and how they can be satisfy with it.
The survey on FedEx which is conducted in Canada, there was just one complaint registered that is regarding the engaging workers of the organization is quite slow. However, there are so many types of performance appraisal systems which are exists and every company is using different methods which basically best suitable for them to improve their performances.
Basically degree appraisal systems allow the employee to get feedback from various sources where it may have reported by the customers and the staffs, and because of Performance management in fedex corp commerce essay information, the organization will be able to identify the strengths and the development needs Gary, Actually this developing system will improve the chances of employees which are seeking actively to contribute to the attainment of their employer objectives.
The reason to found best manager is that if the manger gets low score in two times during the employee appraisal then the position will be awarded to some other employee. FedEx Company is currently using extrinsic reward strategy which is to motivate their workers and this reward system usually focuses on Salary, Promotions, Bonuses and Fringe benefits.
Fred Smith is current Chief Executive who founded the company and when he was student in Yale University, he comes up with an idea of a global logistics company. Later in FedEx a leading global logistics solutions provider, recognized one of the best companies in US.
Moreover, FedEx Company also provides paid leave to those employees who applied for the wedding leave, maternity, paternity leaves as well. Actually if we look at the degree appraisal system, it gives so many benefits towards organization.
By this system, organizations seek to measure employees so they can improve their capabilities and performances and distribute rewards. Therefore, with the help of real time performance, FedEx Company achieved some high competitive advantages by using degree appraisal system in their organization which really improved worker engagement and leadership development Leanne and David, But unfortunately, this appraisal system has some challenges as well which can impact negatively so the organizations can take some wrong decisions as well towards their workers Kaur, This appraisal is one of the best methods which organizations can used to motivate their employees.
This system is very much reliable and convenient for the employees because it is allowing two ways of feedbacks. In addition to that, FedEx Company provides some other rewards as well such as discounts on air tickets, discounts on personal shipping, and pension scheme after retirement Heneman et al.
FedEx Company cares their employees a lot; therefore, they come up with a special program which is knows as Leadership Evaluation and Awareness Process LEAP which basically is to encourage their non-managerial employees so they can move up to the managerial posts Galagan, FedEx founds out that this programs is quite useful tool for them and for their workers as well.
Evaluation FedEx Company is one of the largest organizations in the world which provides services using degree appraisal for evaluating performance throughout the company. Nowadays, majority organizations are using degree appraisal system for both personal development and evaluation.
Furthermore, FedEx Company is also using variable payment method where they are giving rewards to those persons who are contributing individually or as group for the company.
Basically this system supports the organization in order to make some better interpersonal relationship between departments and improve relations between managers and the subordinates Kaur, In addition to that, organization can also create Survey Feedback Action SFA which actually focused towards the communication of workers.
Reward Strategy Reward strategy provides a sense of purpose and direction as well as a framework to develop reward policies, practices and its processes. Mostly organizations which are using this system actually want to give value to the input of their employees regarding the effectiveness of their supervisors and the managers as well.FedEx’s mission statement states that the company will revolutionize global business practices that will define speed and reliability.
Federal Express, through the years, did just that. The company’s particular ability to provide high value-added supply chain, as well as effective packages that also covers the transportation while relating information and. - FedEx Overview FedEx is the world’s largest express delivery, ground small-parcel delivery, less-than-truckload freight delivery, supply chain management, customs brokerage, trade facilitation and e-commerce solutions company with more thanemployees worldwide and delivering more than million packages daily.
FedEx Corp is the world's biggest express transportation company. They generate over $20 billion in annual revenue. FedEx Corp is the largest provider of e-commerce and supply chain management 2 / Marketing Communication: Source Friendly couriers and customers with shipping needs are depicted in all of FedEx’s commercials.
FedEx plans to focus on these five strategies to grow as a business. Grow core package business; Grow internationally; Grow our supply chain capabilities; Grow through e-commerce & technology; Grow through new services & alliances; Certain statements herein are considered forward-looking statements, such as statements relating to.
The intent of this study was to analyze public presentation direction in FedEx Corp. The major findings indicate that FedEx ever be advanced.
HROB/ IBS Center for Management Research PY CO Human Resource Management: Best Practices at FedEx Corporation T This case was written by K.
Prashanth, under the direction of Vivek Gupta, IBS Center for Management Research.Download