Working Capital Management Essay

1251 words - 5 pages

Market Equilibrium Process PAGE \* MERGEFORMAT 1
kudler Fine Foods is a premier gourmet grocery chain of stores which was established by Kathy kudler in 1998. The motive behind this endeavor was to serve the culinary needs of the customers who are searching for the finest meats, produce, cheese and wines. Kudler Fine Foods is a specialty food store with three locations (La Jolla, Del Mar and Encinitas). KFF's mission is to "provide its customers the finest in selected foodstuffs, wines, and related needs in an unparalleled consumer environment."Employee and Labor RelationsCurrently, all KFF's facilities are non-union facilities. KFF supports more than 200 employees and has received many awards for excellent treatment to its workers. KFF believes that human capital is most important asset and its leadership demonstrates respect for them which in turn not only improves communication but also builds trust. KFF's first priority is customer and in order to satisfy customer, KFF thinks its employees should be satisfied first. Trust goes both ways and KFF expects its employees also to trust its leadership. Compensation plan, wages and benefits that are offered at KFF are competitive. If employees have any complaints or concerns about working conditions or any other issues, they can express these concerns directly to the store manager or supervisor. KFF believes that the by conversation between the employees and supervisor small issues can prevent from growing into large misunderstandings or problems. If the issue is not resolved, employees are encouraged to participate in grievance procedure which is available to all full-time and part-time employees. Employees can submit a statement of Grievance form to the employee relation specialist. KFF fully demonstrates its commitment to employees by responding effectively to employee concerns.Employee Benefits and IncentivesKFF provides various benefits programs to full-time as well as part-time employees. Some of the benefits such as 401(k) Savings Plan, Health and Dental insurance, Life insurance, Educational Financial Assistance and Vacation Benefits are available to regular, full-time employees. Besides these benefits some benefits such as Child Care assistance programs, Wellness and Safety programs are available to both part-time as well as full-time employees.Incentives are an effective way to show that employee's efforts are greatly appreciated by the company. At Kudler Fine Foods although all the employees will be offered employee discounts for purchases in the store, some of the incentives are based on employee performance. Employees who receive exceptional performance review ratings will be eligible for base pay increase. Employee of the month from each store will be rewarded with cash incentive and will be offered to choose his or her own hours for work. Employee with the best performance in a year will be given a certification of employee of the year in the company's annual meeting.Employee...

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