MGMT 453 – Week 1 Blog

2020 Fortune Best Companies to Work For HR Analysis

The companies from the 2020 Fortune Best Companies to Work For I chose to analyze for this blog were Bank of America in the Financial Services and Insurance sector, Hilcorp Energy Company in the Manufacturing and Production sector and The Cheesecake Factory Incorporated in the Hospitality sector. One of the most surprising things that I found was included on the page for The Cheesecake Factory. First was the fact that a restaurant chain was included on the list for the top 100 companies to work for in the United States. Most restaurant chains, especially fast food, tend to have people looking for a job that gets their career started and help build a resume to eventually catapult them into a more desired position.

After conducting our practice simulation using HRManagement, it was rather clear how volatile the entry level positions were having up to 50 resignations per quarter. At The Cheesecake Factory, nearly 75% of their employee base has been with the company somewhere between 2-5 years saying that the people they work with are the reason they love the place they work. From a Human Resources perspective this is a hard thing to control or create in a work atmosphere as it relies entirely on the employees in the workforce. Employees at Bank of America stated that the benefits the company provides as the main reason that BOA is a great place to work, with 94% stating that the the company made them feel welcome when they joined the firm. following suit, Hilcorp Energy employees stated termly bonuses as a reason that makes the company a great place to work at by rewarding performance and loyalty to the company.

In conclusion, after reviewing the reasons why employees enjoy working at these companies, I believe that the most difficult aspect of an HR managers job would be employee retention. Especially with retail and food work sectors, many people are looking for a position that will provide some basic income while they look for a better/permanent position. I myself spent a lot of time in my high school years working in retail at Fred Meyer and became very aware of how often kids or even adults would take up entry level positions only to leave the company within the same month they were brought on with the company.

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