Ann Taylor is a company that operates within the United States. It specializes in women clothing including skirts, dresses, pants, shoes and accessories, among many other items. It has its headquarters in New York City and operates under four different divisions. The divisions are Ann Taylor Factory, LOFT Outlet, LOFT and Ann Taylor (Wikiwealth). It has excelled in area of specialty, thanks to the great superb organizational structure and efficient organization of its intellectual resources. It is, therefore, a prudent move to explore and keenly examine the mechanisms in place that have propelled this great entity to such levels of success.
One aspect of Ann Taylor as a flourishing organization is its ability to mobilize and utilize human capital. Any company intending to scale the heights of business excellence must be efficient in handling human capital (O’Connell). This starts with the process of recruitment and the selection models that a firm embraces. Ann Taylor identifies its personnel through competency-based models. This helps in capturing the best of human labor for each task within the organization, starting with subordinate staff to the highest management officials.
Knowledge is power. Knowledge economy seems to be one of business concepts that Ann Taylor as a firm highly embraces. Expertise and know-how is an attribute of Ann Taylor Company. The company believes and relies on knowledgeable personnel for most of its critical functions. There are also efforts that seek to enhance the efficiency of knowledge workers within the company. Some of the strengths that place Ann Taylor a step ahead of similar are its vastly knowledgeable and experienced personnel.
Another strong point in the operations of Ann Taylor Company is its firm grip on organizational diversity. This aspect of managing its intellectual assets is essential in ensuring that people working together tend to work with a lot of professionalism without inducing personal emotions. They have a propensity to treating one another as workmates and not friends since most of them would come from different parts of the country and even the world. People coming from different environments may come with different opinions, ideas, and may increase creativity within an organization. Ann Taylor makes full advantage of this hypothesis, and it seems to have turned out positive for them, basing on their continued growth (O’Connell).
The advancement in technology is helpful in enhancing communication among different players within an organization. Although most employees in Ann Taylor Company communicate with one another using phone calls, the management of the company utilizes electronic mail as a way of passing information to relevant persons. It is an efficient and affordable mode of communication as compared to mail posting and making telephone calls.
Besides, employees interact with one another freely and professionally through established employee network groups. This allows different members with skills that need coordination in the realization of some goal to work together as a team. Ann Taylor Company emphasizes on social capital as a tool for its growth and sustainability. Employees are even involved in decision-making processes of the company thereby increasing their stake in the business. This is important for business growth.
Ann Taylor Company has a very positive to its customers and the general public. Good reputation, as a way of fostering their intellectual capital, is highly regarded among employees and management of the company. They are known for producing the finest of chic women’s clothing brand. This helps them to retain their customers and attract many others. Earning respect from one’s customer is one crucial factor for any business entity. It keeps the going concern of the business some kind of reality.
While other companies in the industry use competency based models in their recruitment process, Ann Tailor has opted to source its human capital through focusing on individual talent. Given that the Company deals primarily with women's clothing, it is critical that the recruitment process incorporates the ability to identify and recommend products to customers with a definitive certainty. In light of this, Ann Taylor uses the Clifton Stregth finder, a strategic technique aimed at filtering those candidates whose qualifications do not match the company’s standards.
This online assessment tool analyzes the answers provided by the candidates and filters them on the basis of the approach and method in which the answer is presented. These criteria enable the company to categorize the candidates according to their competencies such as strategic, relator and achiever. This strategy ensures that an employee is assigned tasks according to their talents and capabilities (Chong). Therefore, avoiding cases of under or over tasked human resources which might result in significant losses, in the client base. Given women's sensitivity to clothing, the company strives to provide them with the best products through a well informed and knowledgeable human capital.
Ann Tailor’s approach towards attracting human capital does not focus so much on other competency recruitment methods. This is because the company realizes that the clothes business requires a distinctive talent and high etiquette standards. Therefore, while some candidates may indicate an aptitude in other competencies, they may lack the talent or etiquette standards. Therefore, the selection process aims at getting the best people for the job while at the same time providing the company with a competitive advantage in the market.
Once the company has acquired human capital. It is critical that these be developed in such a way that they are allocated optimally. Ann Taylor categorizes the human capital acquired according to their competencies; therefore, available talent concepts are linked in order to ascertain which employee is best suited for which tasks. These are deployed to areas where their impact will be significant according to their talents and abilities (Chong). This approach ensures that Ann Taylor realizes the highest returns as a result of optimal allocation of human capital.
Reward and remuneration are among the strategic methods in which a company can use to retain and attract highly talented employees. Ann Taylor recognizes success as an employee's responsibility. Therefore, their reward and remuneration scheme is premised on the employees input versus output (O’Connell). Therefore, highly competitive employees earn higher rewards based on their output. Ann Tailor has a significantly competitive and varied benefit scheme which reflect on the company’s dedication and appreciation to her employees. The benefits accruing to Ann Taylor’s employees include discounted prices on items, performance incentive programs, medical benefits, transport reimbursement, tuition assistance and paid leave among others. This factors are critical to creating financial stability for the employee’s; hence, capitalizing on their full attention on their work.
Ann Tailor’s strategic investment in human capital provides the company with a significant competitive advantage in the industry. This is observed through the recruitment process, where the company has tailored the process to suit its needs. Meanwhile, the company’s strategic allocation of resource ensures that human capital is invested in the most opportune areas. This ensures optimal benefits are realized. Additionally, the technological infrastructure, ensures that teams can operate electronically without resulting in redundancy or duplication of efforts.
The implementation of networking in the company ensures that information is disseminated and relayed immediately; therefore, avoiding costs that result from waiting time. Ann tailors remuneration strategy aims at ensuring that employees are highly motivated to maximize their input leading to increased outputs. This strategy ensures that employees remain faithful to the company while at the same time giving their best. The company’s human capital strategy is premised on putting value on the human aspect of the company; therefore, acting as a motivation towards increased performance in the workplace. This strategy has led to success in a relatively competitive market.