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Overview of 3M

The 3M has been founded on 1902 and stands for Minnesota Mining

and Manufacturing. Until then, the company has become one of the leading

organisations when it comes to diversified technological products and

innovations. 3M is most commonly known as a diversified manufacturing

technology industry which is operating in various parts of the world. The

company is very well known for its being innovative and their ability to launch

several breakthroughs among its products because of the creativeness and

inventiveness of their employee. It can be said that 3M are composed of

resources which are committed in terms of pioneering innovative products and

technologies which is growing faster than the economies that they serve.

These innovative technologies and products have been able to deliver

positive results. Aside from the ability of the company to innovate, the

company is also known for valuing their customers by providing them

innovative products that would meet and satisfy their de mands and their

employees by providing them high opportunity for growth and development to

become future leaders of the organisation. This can be attributed to the

human resource management system of the organisation.

Employee retention and Development Initiatives

In order to become an employee choice, 3M has been bale to make

some changes in terms of the structures of their human resources to as to

give greater empowerment with their employees (Mullins, 2004) as a way of

improving and enhancing productivity and sustaining employee retentions. It

can be said that leaders of 3M has been able to initiate human resource

management system which gives much values with their people.

In order for the company to retain innovative, creative, and inventive

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employees, they utilise the elements of Human resource development so as

to improve their entire organisational performance. Accordingly, HRD of the

3M human resource management incorporates all the activities and

processes involved in making the organisation achieved total development

and competitiveness. Consequently, it is significant to note the HRD plays a

vital and essential task in the organisation in order to make the employees be

a valuable asset. HRD has a key role to play in leve raging the knowledge of

the organisation specifically the enhancement of the abilities and skill of the

employees (Sambrook, 2000).

3M finds out people who personify creativity who hold wider interests

and are efficient problem-solvers. In addition, 3M management tends to retain

employees who are resourceful, energized, and self-motivated and an

employee who promote a strong working ethics. It can be noted that

because of 3M leaders like William McKnight, the company has been able to

focus on leadership development among employees.

One of the main reasons for the 3M human resources management

and development transition is the realization of companies with regards to the

essential contributions their people resources can generate; business an d

workplace organizations have become more aware that human resources are

unique competitive advantages that should be given due consideration. By

means of employing knowledge-like mechanisms within 3M, the company is

able to retain the best and the most m anageable people that they have.

Furthermore, these practices allow them to enhance the potentials of their

staff members and create a more flexible and competent employees

(Holloway, 1998).

Rewards and Compensation

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3M is always known for providing better reward and compensation

system. As part of their human resource management, the company provide

competitive market pay which is aligned with the performance of each

employee. Their pay structures follow policies and regulations which govern

compensation in the specific country that they operate. For instance, it United

States, the competitive pay structure of the 3M provides an intensive and

flexible benefits program which includes retirement, medical, dental as well as

life insurance and saving and investments initiatives to enable employee

establish a strong financial stability. In US, the reward and compensation is

known as the Total Compensation which not only provides a professional

workplace which promotes innovation and rewards performa nces but also

provide pay along with profit sharing, annual or sales incentives and limited

stock units for eligible or qualified employees, medical including the

prescription, vision and dental coverage which is paid with pre -tax dollars with

Flexible Spending Accounts, insurance for qualified employees as well as

their dependents at groups rates, Short and long-term disability benefits to

assist employees who cannot work because of injury or illness, retirement

benefits including 3M pension plan and a 401 (k) plan and the chance to

purchase 3M stock at 85% of its fair market value via the General Employees

Stock Purchase Plan (Competitive Compensation, 2008).

In terms of rewards and recognition, hard and extra effort are duly

rewarded and recognized via an array of award programs. In addition, the

company sponsors worldwide and many corporate award programs to

recognize employees who make significant contributions to 3M. Furthermore,

many departmental and divisional areas o 3M and staff units ar e also

conducting their own specific recognition and rewarding system. Across 3M,

human resource management can select from various monetary and non -

monetary awards to show their appreciation for exceptional employees.

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Reasons why people Choose 3M

Aside from the efficient compensation and reward system, as well as

the ability of the management of 3M to provide opportunity for growth and

development among individual employees, there are also other reasons why

3M has been chosen by different employees. One of these is the ability of the

company to provide respect in terms of dignity and worth of each employee,

by encouraging their highest level of performance in a challenging, fair, and

cooperative workplace. Herein, the rights of each employee are highly

respected and the employees are being empowered to say their opinions. In

addition, the employee of 3M has also great chances of being free to work in

a creative and innovative manner.

Another reason is the ability of the management to provide i ndividual

challenge through proper placement, orientation, and employee development.

In this regard, the employees are given the chance to be equally developed to

have a more stable career in the future.

Selection and Recruitment

In line with recruitment and selection process, the company has been

able to provide a comprehensive and understandable Employee Recruitment

Policy. Gaining competent employees at all levels of the organization are

more than a matter of training. It stems from changes in recruitment and

selection philosophy (Ashkenas et al, 1995). Staffing the most competent

employees, staffs and managers is a continuous challenge for the human

resource management. In this regard, 3M select and recruit the most efficient

and qualified employees for the positions. 3M¶s recruitment process is guided

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