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Coca Cola and PepsiCo are Fortune 500 companies and therefore other companies observe their human resource practices as models.
Motivating and managing human capital
It is imperative to recognise that both Coca Cola and PepsiCo take pride in their workforce. Pepsi, for instance, acknowledges that employees are its greatest assets while Coca Cola recognises contributions of its over 700,000 associates globally.
Pepsi has continued to focus on employee development by providing the right tools to ensure that employees can achieve their full potential at work. Moreover, it encourages employees to collaborate and grow together as a team as they undertake critical business decisions. The company has also developed performance and reward management systems based on core business strategies.
To motivate and manage its human capital, Pepsi focuses on employee welfare and offers the required leadership and direction. In addition, the company promotes career development and planning for all employees and ensures that they all receive appropriate training globally. Pepsi conducts regular employee performance to assess, reward and retain employees considered as assets to its organisational objectives. Human resource policies strive to promote a friendly work environment, flexibility and support for business situations.
Just like Pepsi, Coca Cola also promotes employee development. It starts from recruitment, development, reward to retention of employees. The company believes in equipping employees to achieve their highest potentials. Thus, it invests in learning and development and encourages its employees to focus on their career development. In addition, Coca Cola provides a list of core areas to guide individuals aspiring for leadership positions. Employees, however, must understand the expected performance standard and experience for every core area.
Coca Cola has developed certain values to promote employee engagement (The Coca-Cola Company 1). As a result, these values drive high performance teams, create competitive advantage and ensure sustainable growth. The company carries out employee engagement survey to ensure teamwork, inspire confidence and improve performance. Coca Cola also considers safety and health of its employees as components of performance management.
The companys culture promotes safety after a study that showed that employees lost significant time to accident related issues at work and home. At the same time, it focused on promoting healthy lifestyles to boost their performance. This is a form of motivation because the company supports employees with gym memberships and takes part in community health programmes, medical checkups and sports.
Communication between global subsidiaries has also become a critical point of performance management and motivation for both companies.
Both Coca Cola and Pepsi follow similar principles of human resource management for performance management and motivation. For instance, these companies start the process from recruitment, training and development, evaluation, rewards to retention (Mathis and Jackson 201). They continuously look for new ways to ensure that employees perform to their full potential and remain motivated. As workplace become dynamic, Coca Cola and Pepsi have embarked on employees health, well-being and safety at both work and home and managing diversity across the globe to motivate employees and improve performance (Schuler, Fulkerson and Dowling 365392).
Recommendations
Given that these companies work with several subsidiaries with huge workforce, communication sometimes become a challenge. Coca Cola and Pepsi must therefore review their communication channels to ensure that all employees understand performance measures and motivation principles. They continuously recruit new employees and thus the need to sustain a culture of performance globally is necessary. As companies seek for the best talents across industries, Coca Cola and Pepsi must strive to provide resources that support performance, manage diversity, reward and ultimately retain employees.
Works Cited
Mathis, L. Robert and H. John Jackson. Human Resource Management. 13th ed. Mason, OH: South-Western Cengage Learning, 2011. Print.
Schuler, Randall S, John R. Fulkerson and Peter J. Dowling. Strategic performance measurement and management in multinational corporations. Human Resource Management 30.3 (2006): 365392. Print.
The Coca-Cola Company. Our people. 2015. Web.
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