Be Own Products And Services - 1416 Words

L.L. Bean: Own Products and Services L.L. Bean is a brand with strong roots in Maine, and their products and services embody their love and appreciation of the great outdoors. Employees of the company are likely to be active and enjoy an outdoor lifestyle, which puts L.L. Bean in a great position to use its own products and services to enhance the total compensation for its employees. Bean maintained a philosophy that if the employees were passionate about the company and the outdoors, then the customers would also be. Profit sharing with employees was a foundational belief of Bean, and employees were greatly rewarded when the company performed and exceeded expectations. A few of the products and services that Bean used to enhance total†¦show more content†¦Developing an HR department that was a strategic business unit, allowing it to strategically design a measurable compensation and benefits program. The need for a multi-channel marketing approach was another subject ident ified during the strategic review, which allows customers multiple ways to purchase products. Another internal strength is the portion of the compensation plan that encourages employees to take advantage of the companies products through employee discounts and equipment rental programs. Weaknesses Bean operated on premise that profits are an outcome of strong customer service, and was a byproduct of such. The lack of corporate focus on targeting specific strategies to increase profits was a glaring weakness. Their business model had never been challenged externally, and the company was still operating with a focus on catalog sales instead of refocusing efforts on the growing wave of retail and ecommerce. The company recognized they were in desperate need of employees who could process data and bring the web presence up to par with other competitors in the outdoor lifestyle industry. How the Company Responded From a total rewards perspective, the reorganization allowed the company to develop ways to improve the satisfaction of its employees. Linking pay to performance and other compensation incentives was an asset when recruiting talented technology professionals to come in and build