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Macy's, Inc. Message Board

  • rwcva rwcva Oct 24, 2012 9:35 AM Flag

    Macy's policies toward employees

    Please note. Macy's is a publicly owned corporation, one that investors seek to increase profits and share value. Macy's hires and MAINTAINS employees who ADD to that profit. Customers that hold store accounts buy more products and HIGHER TICKET products with HIGHER PROFT MARGINS. Therefore, employees who add new accounts are rewarded and those who do not are encouraged by lack of bonuses to LEAVE, QUIT, before they get fired for NOT ADDING TO THE PROFIT LINE.

    It is the same for upper level management, if a divsional vice president, heads a division that does not HAVE a history of ADDING PROFITS then that person is reassigned or TERMINATED.

    Macy's seeks to satisfy it's INVESTORS, by a strategy of marketing to satisfy customer needs and purchases PROFITABLY to it's national market. Satisfying employees comes in THIRD! If an employee finds that impossible to work with, then they should seek employment elsewhere.

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    • your post is groundless. Not all good employees feel comfortable pushing people to add new accounts/credit cards. I refuse to shop at Macy's for that reason. I was tired of in my face clerks harranging me to set up an account.

    • and thus M profits have been rising.

    • you_have_got_to_be_kidding2 you_have_got_to_be_kidding2 Oct 25, 2012 10:34 PM Flag

      "Please note. Macy's is a publicly owned corporation, one that investors seek to increase profits and share value. Macy's hires and MAINTAINS employees who ADD to that profit. Customers that hold store accounts buy more products and HIGHER TICKET products with HIGHER PROFT MARGINS. Therefore, employees who add new accounts are rewarded and those who do not are encouraged by lack of bonuses to LEAVE, QUIT, before they get fired for NOT ADDING TO THE PROFIT LINE."

      LOL You are so funny I hope you are not an investment analyst.

      Sentiment: Strong Sell

    • Ask or seek a comment form a Macy's employee who has recently had a "Performance Review". Opening new accounts is very HIGH on the list. In paychecks, bonuses for opening new accounts can add $20 to over $100 a week to a paycheck. In some commission departments, the percentage level of commissions INCREASES as the percent of new accounts increases. PAYCHECKS matter to most employees especially in commission departments.

      That is NOT 19th century management it is 21st centrury management. If you don't like where you work, THEN LEAVE! There are lots of potential employees just waiting to jump in to commission jobs that can pay $45K to over $100K thru bonus levels.

      • 1 Reply to rwcva
      • Well, in a short space of time, you have backed away from your most inane comment:

        "Therefore, employees who add new accounts are rewarded and those who do not are encouraged by lack of bonuses to LEAVE, QUIT, before they get fired for NOT ADDING TO THE PROFIT LINE."

        The only effort it takes to get a customer to open and account is to ask if they have a Macy's credit card. The actual results are a random function based on who is on line for a particular clerk. So what your ridiculous point is that clerks who have the bad luck that the people they wait on already have Macy'scredit cards or don'twant them are at risk of being fired? Give me a break!

    • Wow, you are really a believer in 19th century management style.

      A 21st century manager recognizes that a company has stakeholders: customers, investors, employees and suppliers. If you don't satisfy all four, your top and bottom lines suffer.

      Employess "add new accounts?" Really? I would imagine that a high percentage of Macy's customers use a Macy's credit card and benefit from receiving discount coupons, but that many other customers choose to use bank credit cards. I doubt that "adding new accounts" ranks high on any employees list of duties, although cahiers at any retail store will try to interest customers using bank credit cards in a company credit card.

      Demotivating employees in a retail store, particularly those who interact with customers can be a disaster. Don't believe me? Just ask a JCP investor who haas experienced a 50% equity loss this year.

      I hope that your simplistic, outdated view of how a company balances stakeholder interests doesn't reflect an equally simplistic view of how to pick investments

      Sentiment: Hold

 
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