Harvard Case - Lockheed Martin: The Employer of Choice Mission
"Lockheed Martin: The Employer of Choice Mission" Harvard business case study is written by Clayton M. Christensen, Michael Overdorf. It deals with the challenges in the field of General Management. The case study is 23 page(s) long and it was first published on : Mar 9, 2000
At Fern Fort University, we recommend that Lockheed Martin implement a comprehensive, multi-faceted strategy to achieve its "Employer of Choice" mission. This strategy should focus on attracting, developing, and retaining top talent by leveraging a combination of innovative initiatives, robust employee programs, and a strong commitment to diversity and inclusion. This approach will not only enhance Lockheed Martin's competitive advantage in the talent market but also contribute to its overall business success by fostering a culture of innovation, collaboration, and high performance.
2. Background
Lockheed Martin, a global aerospace, defense, security, and advanced technologies company, faces the challenge of attracting and retaining top talent in a competitive market. The company's 'Employer of Choice' mission aims to position itself as a preferred workplace by offering competitive compensation, benefits, and career development opportunities. The case study highlights the company's efforts in implementing various initiatives, including employee engagement programs, diversity and inclusion initiatives, and leadership development programs. However, the company faces challenges in effectively communicating its value proposition to potential candidates and fostering a culture of innovation and collaboration.
The main protagonists in this case study are:
- Marillyn Hewson: The CEO of Lockheed Martin, who is responsible for setting the company's strategic direction and ensuring its success in achieving its goals.
- The Human Resources Department: Responsible for developing and implementing strategies to attract, develop, and retain talent.
- The Leadership Team: Responsible for driving change and creating a culture that supports the company's 'Employer of Choice' mission.
- Employees: The key stakeholders who are impacted by the company's initiatives and contribute to its success.
3. Analysis of the Case Study
To analyze Lockheed Martin's situation, we can utilize a combination of frameworks, including:
- SWOT Analysis:
- Strengths: Strong brand reputation, global reach, diverse portfolio of products and services, commitment to innovation, strong financial performance.
- Weaknesses: Perceived as a bureaucratic organization, challenges in attracting and retaining younger talent, potential for talent gaps in emerging technologies.
- Opportunities: Growing demand for aerospace and defense technologies, increasing adoption of digital transformation, expanding into new markets.
- Threats: Intense competition, economic uncertainty, changing geopolitical landscape, talent shortage in STEM fields.
- Porter's Five Forces:
- Threat of new entrants: High barriers to entry due to significant capital investment, regulatory hurdles, and technological expertise required.
- Bargaining power of buyers: Moderate, as Lockheed Martin has a limited number of large customers, but they can negotiate favorable terms.
- Bargaining power of suppliers: Moderate, as Lockheed Martin relies on a network of suppliers, but they can negotiate favorable terms due to their scale.
- Threat of substitute products: Low, as Lockheed Martin offers specialized products and services with limited substitutes.
- Rivalry among existing competitors: High, as Lockheed Martin faces competition from other large defense contractors, such as Boeing, Northrop Grumman, and Raytheon.
- Balanced Scorecard: This framework can be used to assess Lockheed Martin's performance across four key perspectives:
- Financial: Revenue growth, profitability, return on investment, cash flow.
- Customer: Customer satisfaction, brand loyalty, market share.
- Internal Processes: Innovation, efficiency, quality, delivery time.
- Learning and Growth: Employee satisfaction, talent acquisition, employee development, innovation.
4. Recommendations
To achieve its 'Employer of Choice' mission, Lockheed Martin should implement the following recommendations:
1. Enhance Employer Branding and Talent Acquisition:
- Develop a compelling employer brand story: Clearly communicate Lockheed Martin's values, culture, and career opportunities to attract top talent.
- Leverage digital platforms and social media: Utilize targeted online campaigns, employer branding videos, and employee testimonials to reach potential candidates.
- Invest in data-driven recruitment: Use data analytics and AI-powered tools to identify and attract qualified candidates from diverse backgrounds.
- Partner with universities and STEM organizations: Foster relationships with educational institutions to create pipeline programs and internship opportunities.
2. Foster a Culture of Innovation and Collaboration:
- Promote a culture of continuous learning: Encourage employees to participate in training programs, workshops, and mentorship opportunities.
- Empower employees to contribute ideas: Implement suggestion boxes, innovation challenges, and hackathons to foster creativity and problem-solving.
- Create cross-functional teams: Encourage collaboration across departments to leverage diverse perspectives and expertise.
- Promote a culture of feedback and recognition: Implement regular performance reviews, provide constructive feedback, and recognize employee contributions.
3. Enhance Employee Engagement and Retention:
- Offer competitive compensation and benefits: Ensure that compensation and benefits packages are competitive and aligned with market trends.
- Provide flexible work arrangements: Offer options for remote work, flexible hours, and compressed workweeks to improve work-life balance.
- Invest in employee well-being: Provide access to wellness programs, mental health resources, and employee assistance programs.
- Create opportunities for career growth: Offer internal mobility programs, leadership development opportunities, and mentorship programs.
4. Strengthen Diversity and Inclusion:
- Set diversity and inclusion goals: Establish clear targets for representation across all levels of the organization.
- Implement diversity and inclusion training: Provide training to all employees on unconscious bias, cultural sensitivity, and inclusive leadership.
- Create employee resource groups: Establish employee-led groups for underrepresented communities to foster a sense of belonging and support.
- Promote diversity in leadership: Encourage the advancement of women and minorities into leadership roles.
5. Leverage Technology and Analytics:
- Implement a robust HRIS system: Use technology to automate HR processes, track employee data, and analyze performance metrics.
- Utilize AI and machine learning: Leverage these technologies to automate recruitment, identify talent gaps, and personalize employee experiences.
- Develop data-driven decision-making: Use data analytics to inform talent acquisition, development, and retention strategies.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with Lockheed Martin's core competencies in technology, innovation, and global reach, while also supporting its 'Employer of Choice' mission.
- External customers and internal clients: The recommendations address the needs of both external customers, who require innovative solutions and reliable products, and internal clients, who seek a rewarding and fulfilling workplace experience.
- Competitors: The recommendations aim to position Lockheed Martin as a leader in the talent market by implementing best practices and innovative initiatives that differentiate it from its competitors.
- Attractiveness: The recommendations are expected to improve Lockheed Martin's attractiveness to potential candidates, leading to a more diverse and talented workforce.
6. Conclusion
By implementing these recommendations, Lockheed Martin can create a more attractive and competitive workplace, attracting and retaining top talent. This will contribute to the company's long-term success by fostering a culture of innovation, collaboration, and high performance.
7. Discussion
Other alternatives not selected include:
- Outsourcing HR functions: While this could reduce costs, it could also lead to a loss of control over talent acquisition and development.
- Focusing solely on financial incentives: While competitive compensation is important, it is not enough to attract and retain top talent.
Key assumptions of the recommendations include:
- Commitment from leadership: Successful implementation requires strong leadership support and commitment to change.
- Employee buy-in: Employees need to be engaged and motivated to embrace the new initiatives.
- Availability of resources: The recommendations require investment in technology, training, and employee programs.
8. Next Steps
To implement these recommendations, Lockheed Martin should:
- Develop a detailed implementation plan: Outline specific actions, timelines, and resource allocation for each recommendation.
- Establish a dedicated team: Assign a cross-functional team to oversee the implementation process and monitor progress.
- Communicate the vision: Clearly communicate the 'Employer of Choice' mission and the benefits of the new initiatives to all employees.
- Measure and evaluate: Track key performance indicators (KPIs) to assess the effectiveness of the initiatives and make adjustments as needed.
By taking these steps, Lockheed Martin can transform itself into a truly 'Employer of Choice' and achieve its strategic goals.
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Case Description
A Lockheed Martin manager is faced with the decision of where to focus the organization's resources in order to develop a world-class employee development system. The manager's recommendation will serve as the basis for the company's goal of becoming an Employer of Choice in the minds of its current and prospective employees. Compounding the difficulty of his decision is the pressure from the current financial, operational, and cultural challenges facing the business. With the defense industry becoming more cost competitive and contracts being awarded to non-traditional defense industry suppliers, Lockheed Martin is faced with a need to reduce its cost structure while developing employee talent and future leaders who can adapt quickly to change and effectively lead in this new environment.
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