Table of Contents
The Coca-Cola Company.
Career Management Practice.
The HR process still belongs to one of the essentials among the company’s success factors. As described in the assessment ‘war for talent’ published in the McKinsey Quarterly Journal 20 years ago, companies were already suffering a shortage of executive talent and that this competition for new talents will intensify. However, just finding and hiring the right people is not the only obstacle that was identified. The attraction and retaining of the workforce are the key. Therefore, the company needs to give the employee the opportunity to refine and create his value proposition. Then, to attract and retain the people you need, you must create and perpetually refine an employee value proposition. That done, you must turn your attention to how you are going to recruit great talent, and finally develop, develop, develop!” (Chambers et al. 1998) These principles haven’t become obsolete until today. This assignment will take a look at the HR activities of The Coca-Cola Company and will evaluate them in comparison to recent trends and benchmarks.
The Coca Cola Company
Coca-Cola is an American company with a 131 year-long tradition of producing non-alcoholic beverages. It is in business since 1886 originating from Atlanta, Georgia serving 1.9 billion servings a day to more than 200 countries in 2016. This makes Coca-Cola the global No. 1 provider of sparkling beverages, juices, juice drinks and ready-to-drink coffee. TCCC manufactures, distributes, and markets non-alcoholic beverages along with fountain syrups and concentrates, such as flavoring ingredients and sweeteners. The portfolio includes 500 brands and 3,500 beverage products featuring 21 billion-dollar brands. (Appendix 1) Coca-Cola’s mission statement involves three key statements: to refresh the world, to inspire moments of optimism and happiness, and to create value and make a difference. (The Coca Cola Company 2016A)
Career Management Practice
With a network of over 700 thousand associates worldwide HR management is a fundamental activity for Coca-Cola. The process is composed of internal and external recruitments in which, the Coca-Cola Company (TCCC) established a common procedure and framework to maintain quality standards to a certain level. In the external search, Coca-Cola is always on the lookout for new talent, be it inexperienced hires, the Coca-Cola graduate program, or the University Talent Programme. (JobTestPrep 2017) As it costs on average up to $4000 to recruit an employee for an open position the recruitment process needs to make sure the person and their abilities are fitting perfectly to the vacant position. (The Stewart Group 2016) As previously mentioned, recruitment starts with being attractive to talents and applicants. TCCC achieves this with several initiatives and a clear statement towards employees of being part of a community with shared values and stating it is a local business on a global scale with a unique culture and a strategy to grow from within.
This means that a new employee is fully integrated and has a variety of development programs to choose from as well as having ‘one of a kind experiences like being a brand ambassador at the Olympics or FIFA World Cup. TCCC puts also a lot of effort into the acquisition of new talents, as they are supporting students in the ‘University Talent Program’ or are creating new platforms like the ‘All women hackathon’, to name two of them. Coca-Cola Company’s recruitment process of external applicants also follows a specific multi-step practice as seen below, where they want to find the ideal candidate, who combines the attributes of ‘Creative and fresh thinking’- the spirit of collaboration-pragmatic and commercial mindset. (The Coca Cola Company 2017B)
The current recruitment process of TCCC combines all the features of a global player assuring to find the right person for the position and can be seen as highly effective. TCCC can also create the so important attractiveness for new applicants, through the popularity of its brands, the creation of a corporate culture that values every position, as well as putting up several initiatives. However, these things are more or less taken for granted by a global company and lack a certain degree of uniqueness. The changing environment where the trend is going towards a more candidate-driven market, where applicants are using interviews to determine if the company fits them and their lifestyle is one of the central topics pressuring companies to adapt. (Glassdoor 2016) In order to respond to this development, companies need to include new digital and cognitive technologies like VR and channels to target the new generation of talents. Platforms like LinkedIn and Glassdoor are gaining even higher importance in the next years and are central for the search to employees. Here it is key for TCCC to build a digital employment brand on a defined strategy that is recognizable and transparent to benefit from the socialized online environment where people are sharing experiences and evaluate their employers. (Deloitte 2017)………….