McMaster The Way To Reduce Employee

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Chris Bemus, Larry Floyd, Kallesha Mandley, LaTonya O'Neal

Who We Are...., You Ask?

• McMaster-Carr Supply Company, Est. 1901

• Is a private, family-owned supplier to industrial and commercial facilities worldwide, specializing in next day delivery of Maintenance, Repair and operations

• Maintains over 555,000 products in a catalog offering a variety of mechanical, electrical, plumbing, and utility hardware not usually located from a single source.

Opportunities…..

Why Employee's Should Stay

• Medium salary is $65,000

• 100% Tuition Reimbursement

• Company paid health insurance

• Average annual bonus equaling 4.5 months pay

• 25% company contribution to deferred profit sharing trust

What People Are Saying...

Ensuring Employee Security

• Build high trust partnerships with employees• Guarantee employment policies i.e. Lincoln Electric

• Clear requirements for promotion and incentive increase

• Removing ambiguity to upward mobility

Decentralizing Decision-Making

• Involving employees in the decision-making process creates ownership• Delegate decision-making throughout the organization

• Incorporate well trained & supported self-managed terms

• Provide training and accountability

Example: Ritz-Carlton

Selective Hiring Practices

• Hires to fit requirements• Don't only hire base on educational pedigree

• Carefully evaluating new hires-requirements

• Utilize the right people for the selection process