Wal-Mart China was named â€œ2006 China Retail Industryâ€™s Best Employerâ€ at the 8th China Retail Summit.
The annual China Retail Summit is one of the most important trade gatherings organized by the China Chain Store and Franchise Association (CCFA). Only three companies won the honor this year. Apart from Wal-Mart, the other two winners were Wushang Bulksale Chain of Wuhan and Jia Jia Yue of Shangdong Province.
Candidate companies for the best employer award were recommended by both the public and the enterprises themselves. Some basic requirements include an excellent corporate culture and business ethics, as well as a harmonious employee relationship. Benefits and compensation should be above the industry average.
According to the CCFA, Wal-Mart was selected for its pursuit of the three basic beliefs of Respect for the Individual, Service to the Customer, and Strive for Excellence, the career opportunities the company has provided to its associates, as well as its localization efforts.
Wal-Mart Chinaâ€™s People Strategy is to â€œKeep-Get-Growâ€. Wal-Mart says it encourages its associates to do their best by providing them with good and fair promotion career opportunities through its succession plan. It also offers the associates consummate training and promotion systems, such as Store of Learning training for operation managers. Over 80% of the store managers are promoted from within and all Wal-Mart China stores are managed by local associates.
Earlier this year, Wal-Mart starting allowing unions into its mainland China stores.