Compensation Management Of the West jet - myassignmenthelp.com

Question: Discuss about the Compensation Management Of the West jet. Answer: In the recent years, WestJet Airlines has failed to stay stable due to rise in various factors. This includes various unforeseen events like terrorist attacks, increase in security costs and airport expenses that affect the travelling of passengers. The main goal of WestJet Airlines is to enrich the lives of people all over the world by providing friendly, safe and affordable air travel. The foundation of the organization corporate culture is having passionate and caring attitude. Since the beginning, WestJet was established with a vision to establish a friendly workforce by hiring efficient employees committed to customer services (YouTube., 2018). The company delivered low ticket prices to its customers through proper operational efficiencies by reducing maintenance cost. From the starting, the growth of WestJet Company is depended on the high involvement of managerial practices. The company gives freedom to its employees to do whatever they can to develop best flying experiences for their guests. The passengers are generally known as the employees or WestJetters (Westjet.com., 2018). The flight attendants are constantly given proper training about customer services, their language and culture. WestJet has been rewarded as the best airline with best corporate culture since several years (Long Singh, 2018). The employees are highly participative in the company due to the intrinsic rewards. Employees are treated as per the company's corporate culture. Recently, WestJet had started a share purchase plan where the employees are free to invest up to 20 percent of the earnings in the business shares (Ingram, 2000). The company then matches this shares with it free shares. The corporate culture may be changing due to the job pressure in recent times. Moreover, in the ever increasing competition environment, threats from Air Canada and other airlines is also rising. According to WestJet CEO Gregg Saretsky, the employees are allowed to make mistake but not at the cost of company (McCullough, 2018). Change is generally good for the company but the organization should not be afraid for the required change. The companys workers should be lead efficiently and over management should not be made. WestJet culture is all about empowerment and engagement by adopting a collaborative style. The ownership or employee platform is very powerful in the companys corporate culture. By launching WestJet encore, the organization made huge change in the business model. The core to companys success was launching of single aircraft type. The CEO and the mangers cant just deliberately avoid the facts relevant for their businesses. If certain things are ignored business environment, economic condition and general market are doomed to fail. The management techniques should be more focused and consistent. Customer services and quality matters the most for WestJet owners. Therefore evolving strengths in financial resources and technology is required. Moreover, the factors affecting the productivity of WestJet employees should be ascertained to ensure long-term prosperity of business in dynamic corporate environment. References: YouTube. (2018).WestJet - Who Are We?.YouTube. Retrieved 28 January 2018, from https://www.youtube.com/watch?v=aIkAWv-K0qo McCullough, M. (2018).Interview: WestJet CEO Gregg Saretsky on the power of company culture.Canadian Business - Your Source For Business News. Retrieved 28 January 2018, from https://www.canadianbusiness.com/leadership/gregg-saretsky-westjet-interview/ Westjet.com. (2018).Culture| WestJet.Westjet.com. Retrieved 28 January 2018, from https://www.westjet.com/en-ca/about-us/jobs/culture Ingram, M. (2000).Culture one of the keys to WestJet's success.The Globe and Mail. Retrieved 28 January 2018, from https://www.theglobeandmail.com/report-on-business/culture-one-of-the-keys-to-westjets-success/article4412516/ Long, R. J., Singh, P. (2018) Strategic Compensation in Canada (6th ed.). Toronto, Ontario. Nelson Education (page 32).