Walmart Risk Management
Options for dealing with risk Walmart’s hiring practices could improve the situation by managing the hiring practices at the manager’s level. Even though the company has a ‘no discrimination’ policy, giving full responsibility to the manager at the local level may promote prejudices that the managers themselves are not aware of . These prejudices might include providing higher salaries to male workers and a tendency to promote men over women. In the wake of the recent developments, Walmart has initiated several steps to win back the support of the women.
Women comprise 70% of Walmart’s work force at the floor level. Yet, women only comprise 33% of Walmart’s management. There is no doubt that Walmart has to put policies in place that encourage and promote female employees. We propose the following options for dealing with the issue:
- The statistics presented at the court hearing have shown that women were paid 80% of wages that men were paid for doing the same job. The difference of pay has to be leveled immediately. Walmart can make no excuses for paying differently for the same job. If the manager at the local level is responsible for hiring and compensation, policies should strictly reinstate the need for equal pay.
- Walmart need a woman CEO or atleast 50% women on the board of directors and 50% women in the management. Walmart is a company that is comprised mostly of women at the floor level. The customers who shop most at Walmart are also women. The company cannot but take seriously the group that comprises its largest consumer group.
In the wake of the recent developments, Walmart has realized that a company is only as good as its last good deed. Walmart has used . In a New York TImes article dated September 14, 2011, Walmart announced that it planned to spend $ 20 billion over the next five years trying to source materials from women owned businesses. The article made headlines under the name “Walmart to Announce women friendly plans” as the company faced the possibility of being sued by independent plaintiffs after the class action law suit had been dismissed.