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Employee Retention of Coca-Cola Company

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Pratik Kukreja
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Employee Retention of Coca-Cola Company - April 6th, 2011

Get Detail information about the Coca-Cola Company Employee Retention policy. Different strategies for Human Resources management. Understand company policy.

The Coca-Cola Company (NYSE: KO) is a beverage retailer, manufacturer and marketer of non-alcoholic beverage concentrates and syrups. The company is best known for its flagship product Coca-Cola, invented by pharmacist John Stith Pemberton in 1886. The Coca-Cola formula and brand was bought in 1889 by Asa Candler who incorporated The Coca-Cola Company in 1892. Besides its namesake Coca-Cola beverage, Coca-Cola currently offers more than 500 brands in over 200 countries or territories and serves 1.6 billion servings each day.[3]
The company operates a franchised distribution system dating from 1889 where The Coca-Cola Company only produces syrup concentrate which is then sold to various bottlers throughout the world who hold an exclusive territory. The Coca-Cola Company owns its anchor bottler in North America, Coca-Cola Refreshments.
The Coca-Cola Company is headquartered in Atlanta, Georgia. Its stock is listed on the NYSE and is part of DJIA, S&P 500 Index, the Russell 1000 Index and the Russell 1000 Growth Stock Index. Its current chairman and CEO is Muhtar Kent.

High employee turnover rate has been considered as one of the highest
drivers for direct and opportunity cost to rise for companies . In the
Coca Cola Retailing Research , Blake (2000 ) estimates that about US 5 .8
billion annually are lost in the supermarket sector alone due to
employee turnover . More importantly , this figure significantly reduces
the profitability of firms to as much as 40 . Hence , the mantra that
human resources or people are still the most important factor of
production considering the improvements in technology is still a
prevalent notion among scholars and businessmen alike (Buckingham and
Vosburgh , 2001 . With this in mind , human resources management is driven
to attract and retain employees that have proved valuable in the company
over periods of time .
Essentially , employee retention and the reduction of employee turnover
rate had been studied in the literature and in company case studies .
However , despite the numerous studies provided to us , there are still
debates that need to be resolved on the most potent factors that would
make employees stay . This presents a case study of Coca Cola
Company particularly its program on employee retention , the issues and
challenges that it faces in terms of employee turnover , its impact on
the company both financially and operationally , and the improvements
that can be made in to enhance the employee retention program and
reduce turnover rates .
Employee Retention : Factors and Drivers
Employee retention on a macro-scale had generally been impacted by the
external economy in general and the trends in the business sector (Frank
and Taylor , 2004 . On a micro-scale however , employee retention are
affected by programs /policies of the company , wages and benefits in
relation to its competitors , skills , training and promotion , employee
motivation and satisfaction as well as other factors that are internal
to the company . For instance , while the US economy had been considered
at a low level in recent years , employee turnover had been maximal in
the periods 2002-2003 because of the downsizing that had been prevalent
in US companies . Add to this factor , employee discontent according to
the survey of the Conference Board (2003 ) had been highest since 1995
and that employees are only waiting for a market recovery to look for
other jobs (Kaihla , 2003 .
Hence , aside from these factors that needs to be considered by
companies , employee turnover affects the cost of the US economy by at
least US 5 trillion annually (Journal of Business Strategy , 2003 ) and
reduces stock prices and earnings to about 38 (Sibson , 2000 .
Consequently , aside from the financial impact of employee turnover ,
employee retention has been directly correlated by Dresang (2002 ) to
increase productivity as well as customer loyalty .

Diversity is an integral part of who we are, how we operate and how we see the future.

Our inclusive culture is defined by our seven core values: leadership, passion, integrity, collaboration, diversity, quality, and accountability. Our central promise at The Coca-Cola Company is to refresh the world in mind, body, and spirit, and inspire moments of optimism; to create value and make a difference.

Two assets give us the opportunity to keep this promise – our people and our brand.

The Coca-Cola Company leverages a worldwide team that is rich in diverse people, talent and ideas.

As a global business, our ability to understand, embrace and operate in a multicultural world -- both in the marketplace and in the workplace -- is critical to our sustainability.

Our diversity workplace strategy includes programs to attract, retain, and develop diverse talent; provide support systems for groups with diverse backgrounds; and educate all associates so that we master the skills to achieve sustainable growth. Our diversity workplace strategy includes programs to attract, retain, and develop diverse talent; provide support systems for groups with diverse backgrounds; and educate all associates so that we master the skills to achieve sustainable growth. For more information, review our Global Diversity Strategic Framework.

According to the 2005 Annual Report,[10] the company sells beverage products in more than 200 [11] countries. The report further states that of the more than 50 billion beverage servings of all types consumed worldwide every day, beverages bearing the trademarks owned by or licensed to Coca-Cola account for approximately 1.5 billion (the latest figure in 2010 shows that now they serve 1.6 billion drinks everyday). Of these, beverages bearing the trademark "Coca-Cola" or "Coke" accounted for approximately 78% of the Company's total gallon sales.
Also according to the 2007 Annual Report, Coca-Cola had gallon sales distributed as follows:
43% in the United States
37% in Mexico,India, Brazil, Japan and the People's Republic of China
20% spread throughout the rest of the world
In 2010 it was announced that Coca-Cola had become the first brand to top £1 billion in annual UK grocery sales .
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Last edited by yash_naik24; August 13th, 2014 at 11:59 PM..
   
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Business Education
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Re: Employee Retention of Coca-Cola Company - May 29th, 2015

Employee retention is very old concept. Employee are the pearl of the river, they create company's brand and develop it . Employee when leave one company to avail the opportunity somewhere else, they take away their clients too and because of that they suffer huge loss. To give you employee the facility they needed and a perfect salary with performance appraisal.
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