Harvard Case - Harrah's Entertainment, Inc.: Rewarding Our People
"Harrah's Entertainment, Inc.: Rewarding Our People" Harvard business case study is written by Thomas J. DeLong, Vineeta Vijayaraghavan. It deals with the challenges in the field of Organizational Behavior. The case study is 16 page(s) long and it was first published on : Jul 23, 2002
At Fern Fort University, we recommend that Harrah's Entertainment, Inc. implement a comprehensive, multi-faceted approach to employee recognition and reward. This strategy should be anchored in a strong understanding of the company's core values, employee needs, and the competitive landscape. It should leverage a combination of financial, non-financial, and experiential rewards, tailored to individual employee preferences and contributions.
2. Background
Harrah's Entertainment, Inc. was a leading gaming and entertainment company facing challenges in attracting and retaining top talent. The company's traditional reward system, heavily focused on financial incentives, was failing to motivate employees and foster a culture of engagement. This case study explores the company's efforts to revamp its reward system, moving towards a more holistic approach that recognizes and rewards employee contributions across various dimensions.
The main protagonists of the case study are Gary Loveman, the CEO of Harrah's Entertainment, and the company's Human Resources team tasked with implementing the new reward system.
3. Analysis of the Case Study
This case study provides a compelling example of the need for a strategic approach to employee recognition and reward. Harrah's faced several challenges:
- Low Employee Morale and Engagement: The traditional reward system focused on financial incentives, which failed to motivate employees and foster a sense of belonging.
- High Turnover: The lack of employee engagement led to high turnover rates, impacting operational efficiency and customer service.
- Competitive Landscape: The gaming industry was becoming increasingly competitive, making it crucial to attract and retain top talent.
To address these challenges, Harrah's implemented a multi-pronged approach, drawing inspiration from the principles of Organizational Behavior and Human Resource Management:
- Shifting from a 'Carrot and Stick' to a 'Carrot and Carrot' Approach: The company moved away from purely financial incentives and introduced a range of non-financial rewards, such as public recognition, opportunities for growth, and flexible work arrangements.
- Focusing on Employee Needs and Preferences: The company conducted extensive research to understand employee needs and preferences, tailoring rewards accordingly.
- Empowering Employees: The company empowered employees to take ownership of their careers and development, providing them with opportunities for growth and advancement.
- Building a Strong Organizational Culture: The company emphasized the importance of teamwork, collaboration, and customer service, creating a positive and supportive work environment.
Frameworks Used:
- Maslow's Hierarchy of Needs: The company recognized the importance of fulfilling employees' needs beyond basic financial security, incorporating social, esteem, and self-actualization needs into its reward system.
- Herzberg's Two-Factor Theory: The company focused on both hygiene factors (salary, benefits, work conditions) and motivators (recognition, responsibility, growth opportunities) to enhance employee satisfaction and motivation.
- Expectancy Theory: The company ensured that employees believed their efforts would lead to desired outcomes, and that the rewards offered were valuable and attainable.
4. Recommendations
To further enhance Harrah's reward system and build a thriving organizational culture, we recommend the following:
- Develop a Comprehensive Reward Strategy: This strategy should be aligned with the company's core values, business objectives, and employee needs. It should encompass a mix of financial, non-financial, and experiential rewards.
- Implement a Robust Performance Management System: This system should provide clear performance expectations, regular feedback, and opportunities for development.
- Foster a Culture of Recognition and Appreciation: Implement a system for recognizing and rewarding employees for their contributions, both big and small. This can include public recognition, peer-to-peer awards, and personalized rewards.
- Offer Flexible and Personalized Benefits: Provide employees with a choice of benefits that meet their individual needs, such as flexible work arrangements, childcare assistance, and wellness programs.
- Invest in Employee Development: Offer opportunities for professional growth, such as training programs, mentoring, and leadership development initiatives.
- Promote Diversity and Inclusion: Create a workplace where all employees feel valued and respected, regardless of their background, gender, or ethnicity.
- Utilize Technology and Analytics: Leverage technology to track employee performance, identify trends, and personalize rewards.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations align with Harrah's mission to provide exceptional customer service and create a positive and engaging work environment.
- External Customers and Internal Clients: The recommendations aim to improve employee satisfaction and engagement, which directly impacts customer service and brand reputation.
- Competitors: The recommendations are designed to help Harrah's stay competitive in the talent market by attracting and retaining top talent.
- Attractiveness ' Quantitative Measures: The recommendations are expected to lead to improved employee retention, reduced turnover costs, and increased productivity.
6. Conclusion
By implementing a comprehensive and strategic approach to employee recognition and reward, Harrah's Entertainment can create a thriving organizational culture that attracts, motivates, and retains top talent. This will ultimately lead to improved customer service, increased profitability, and a stronger brand reputation.
7. Discussion
Other alternatives not selected include:
- Focusing solely on financial incentives: This approach may be effective in the short term but fails to address the long-term needs of employees and may lead to a culture of entitlement.
- Implementing a one-size-fits-all reward system: This approach ignores individual employee needs and preferences, leading to dissatisfaction and disengagement.
Key Assumptions:
- Employees are motivated by a combination of financial and non-financial rewards.
- The company is committed to investing in employee development and creating a positive work environment.
- The company has a clear understanding of its core values and business objectives.
Risks:
- The new reward system may not be effective if it is not properly implemented and communicated.
- The company may face resistance from employees who are accustomed to the old system.
- The company may need to adjust the system over time to meet changing employee needs and market conditions.
8. Next Steps
- Form a Task Force: Assemble a cross-functional team to develop and implement the new reward system.
- Conduct Employee Surveys: Gather feedback from employees to understand their needs and preferences.
- Develop a Communication Plan: Communicate the new reward system clearly and effectively to all employees.
- Pilot Test the System: Implement the new system on a pilot basis before rolling it out company-wide.
- Monitor and Evaluate: Regularly monitor the effectiveness of the new system and make adjustments as needed.
By taking these steps, Harrah's Entertainment can ensure that its new reward system is successful in attracting and retaining top talent, fostering employee engagement, and driving business success.
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Case Description
Marilyn Winn, head of human resources at Harrah's Entertainment, must make a recommendation to the company's president and CEO about whether the existing bonus payout program is effective at motivating employees or whether it should be revised and/or replaced. A recent downturn in economic conditions led Winn to wonder whether customer service payouts were the most efficient way to make Harrah's a service-driven and customer-driven company.
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