Executive Summary
This proposal identified the mechanism and tools needed for the management of Coca-Cola to implement an approach to establishing education and training of personnel to enhance employees’ professional and personal development. The company review was carried out, and particular attention was paid to financial performance reflecting the success of the corporation in the global market, despite the relative drop in profits compared to previous years. The principles of the intervention were described in the context of a work plan that included highlighting stakeholders, the resources needed, the procedures to implement, and the time frames. Potential outcomes for the employees of the company and the corporation itself were identified. The conclusions were obtained that, by addressing the principles of diversity management of cultural communication, Coca-Cola’s managers could increase subordinates’ professional potential and strengthen the brand value.
Introduction
The development of global corporations depends not only on effective strategies for managing finances and market promotion but also on the effective work of employees. Stimulating the productivity and loyalty of the staff is the key to productive work and motivation to achieve the highest operational outcomes. To appreciate the value of organizational initiatives aimed at increasing employee engagement at the Coca-Cola Corporation, the role of education, training, and both professional and personal development will be reviewed. Addressing the ethical and multicultural aspects of working in the company is the key to high productivity, and the use of available resources for staff development is an essential aspect of the corporation’s market success.
Company Overview
Coca-Cola is the oldest company in its market segment, namely the production of soft drinks. It was founded 136 years ago; by now, the corporation’s business has developed significantly: Coca-Cola owns more than 500 beverage brands (Zhang, 2019). The company delivers to most of the world’s countries and is a leader in its field, despite competition from PepsiCo, its market rival. The corporation’s profits are in the billions of dollars, which, in turn, allows the company to allocate significant funds for marketing programs and internal needs.
The global business of the corporation explains the need to follow sustainable financial practices and strategies for interacting with personnel. Failure to control performance is costly, and since Coca-Cola operates in most regions of the world, the scope of control is extremely high (Zhang, 2019). One of the ways to maintain consistently high operational productivity is to create an environment in which employees have an opportunity to realize their full potential. Therefore, stimulating the professionalism of subordinates is of high importance as an initiative aimed at maintaining the leadership of the corporation in the international arena and ensuring smooth and efficient operation in each of the departments.
Ways to Promote Education and Training
Creating a supportive environment in which company employees can hone their skills and improve teamwork is a valuable opportunity for Coca-Cola. The management of the corporation can resort to several strategies to achieve this goal. Given the available assets, the organization can afford to allocate funds for additional training for its employees. Stakeholders should be involved, a work plan drawn up, resources chosen, time frames defined, and potential results highlighted.
Stakeholders
Given the goal stated, several categories of stakeholders should be distinguished. Firstly, the company’s employees themselves are the target audience to which the intervention should be directed. Akbar and Khanfar (2020) offer to perform interviews, which is a convenient algorithm for collecting data and identifying the willingness of employees to participate in professional development courses. The authors note that globally, the corporation has more than 700,000 employees, which explains the need to implement adequate mechanisms to control performance and increase productivity (Akbar & Khanfar, 2020, p. 21). Therefore, among this number, identifying those wishing to improve individual qualifications should be carried out, guided by the current operating results and line managers’ reports.
Secondly, the management personnel of the corporation should be involved in creating an enabling environment aimed at promoting the development and training of subordinates. According to Maisoni et al. (2019), Coca-Cola’s organizational culture is consistent with that of global corporate businesses and focuses on stimulating cross-cultural interaction and encouraging diversity in teams. With these criteria in mind, senior and line managers should identify areas where performance needs improvement and offer their employees to participate in training programs designed to improve their skills. Such an initiative is justified by the vertical management structure and flexible leadership styles promoted in the company.
Finally, HR employees are another category of stakeholders who are responsible for implementing the employee training program. By utilizing an Indonesian branch, Maisoni et al. (2019) evaluate the participation of HR specialists in the work of the company and note the importance of appropriate encouragement and engagement programs designed to rally the team. Following the guidance of senior managers, HR departments should compile reports on the productivity of their branches, identify the most vulnerable areas of work, and offer recommendations for involving employees in training programs. When adhering to such a program, the company can introduce an adequate mechanism for the professional development of subordinates. Moreover, under this strategy, there is an opportunity to avoid bias in the assessment caused by an inadequate approach to addressing the personal interests of staff from a cultural perspective. Thus, this practice is successful in the context of the existing requirements for a culture of professional communication and can be utilized in the corporation.
Work Plan
The work plan for the implementation of the program aimed at using education and training opportunities at Coca-Cola involves following several stages. To begin with, a strategy for interaction between HR professionals and employees should be compiled. In view of the global business of the corporation, cultural differences when interacting with subordinates are essential to take into account. This applies not only to regional distinctions but also to employees’ individual views. For instance, as Sakyi et al. (2021) argue, “Coca Cola celebrates Diversity, Inclusion and Equality, with its focus on improving the cause of LGBTQ communities” (p. 238). This means that the intervention program should be personal in nature. Based on the previous activities on identifying participants in the improvement project, branch managers should be tasked with drafting projects that include both the financial nuances of work and the individual preferences of the employees involved. This will contribute to avoiding bias in selecting subordinates for participation in the educational program and help address the principles of diversity management, which is a valuable perspective in today’s corporate environment.
The financial aspect of the engagement program is a critical part of employee training. Appropriate risk management practices should be applied to ensure that the allocation of funds is secure and can address the most pressing issues. The finance department of the company should prepare a preliminary analysis of the costs required to implement the provisions of the training program. Particular attention should be paid to the funds planned to be spent on the purchase of resources because, when taking into account the distinctive needs and interests of employees, estimates may differ for different regions. This procedure involves close interaction with local managers to draw up the most objective financial plan, designed to ensure the required conditions of cooperating with subordinates.
Another important stage, designed to provide conditions for the training and development of Coca-Cola’s personnel, is involving the necessary resources. In addition to the specific materials that include the theoretical models and business ideas, the participation of mentors in this process can play an essential role. According to Sakyi et al. (2021), mentoring is a principle of diversity management because, by following the principles of employees’ equality and their distinctive needs and personal interests, different approaches to training can be relevant. The company’s management can successfully use social media as a resource where relevant materials can be found, and professional mentors are attracted. This is particularly true for the training of young employees who utilize modern digital platforms. As Sakyi et al. (2021) remark, “social media has bridged the digital divide, which has led to convergence of media platforms” and contributed to expanding resource bases (p. 223). As a result, with the help of professional mentors, employees can acquire the necessary skills and gain valuable knowledge and experiences that are difficult to obtain while working in the usual way.
Establishing an educational regime is another important component of the program to promote the training and professional development of Coca-Cola’s personnel. Although many employees are ready to participate in specific courses, for some, this may be challenging to combine work responsibilities with education, which can be a barrier to participation. Consequently, the management of the company should encourage those subordinates who effectively apply time management skills. Akbar and Khanfar (2020) suggest paying attention to special compensation practices designed to motivate staff and encourage active involvement in the professional development program. Coca-Cola is a corporation with huge profits and a high market reputation, and by allocating funds for special incentive projects, it positions itself as a company responsible for the well-being of its employees. Moreover, compensation programs directly correlate with performance and promote the active involvement of subordinates in the work process (Akbar & Khanfar, 2020). Therefore, while resorting to such tactics, Coca-Cola’s management can ensure the loyalty of employees and, at the same time, prevent a decline of operational efficiency due to the participation of specialists in educational projects.
Time Frames
To complete all the declared procedures, several months may be required due to a large number of branches of the corporation and numerous employees in different regions. One of the conditions for accelerating this process is conveying to the staff all the benefits of participating in the education and training program. Tien (2020) emphasizes the relevance of Coca-Cola’s welfare policy and notes the great opportunities that open up for highly qualified employees. Preparing the reports by HR employees and line managers can take several weeks. Going forward, senior managers should review the current operating outcomes and identify those areas of work and regions where optimization is desirable. Based on this data, after approximately a month, recommendations will be given to local branches. However, employees should have equal access to education and training because this is in line with the idea of ​​democratic leadership and intercultural interaction. The programs themselves can take from two months to six months, and the specifics of the topics depend on the content of mentoring projects and subordinates’ personal interests.
Potential Results
It is assumed that the proposed algorithm for involving Coca-Cola’s employees in the education and training program will not only increase the operational results of the work process but also improve the interaction among colleagues. In addition, such significant aspects will be addressed as diversity management and employee engagement. For managers, working directly with subordinates can reveal weak business aspects and help determine the best development prospects. As Sakyi et al. (2021) state, “knowing about the diversity of the workforce helps us adjust our ways on how to handle interpersonal relationships and communication without creating friction and conflict” (p. 40). In other words, teamwork will be strengthened because employees will feel supported by their managers, who will be aware of subordinates’ personal needs and their individual but not only professional interests.
In terms of corporate outcomes, Coca-Cola will be able to strengthen its reputation and confirm its status as one of the most influential global brands if it promotes training and development for its employees. Zhang (2019) mentions the corporate social responsibility (CSR) programs that the company adheres to, such as green manufacturing and helping vulnerable communities. The proposed form of improving the efficiency of the workforce can be regarded as an element of CSR. By introducing training and education courses, the organization uses its resources and capabilities to help subordinates realize their professional ambitions and personal interests. This approach is a valuable contribution to strengthening the brand value and increasing customer loyalty globally.
Conclusion
Coca-Cola, as a globally recognized company, should promote education and training to develop the professional and personal potential of its employees by addressing the principles of multiculturalism and diversity management. The corporation has been in the market for many years and is a leader in its segment, which reinforces the need for it to follow ethically adequate mechanisms for interacting with subordinates. The list of stakeholders included in the work to promote education includes employees themselves, managers, and HR specialists. The work plan involves identifying branches where optimization programs should be promoted, attracting the necessary resources, engaging with professional mentors, and establishing a sustainable compensation system. The entire training program can take up to six months. However, during this time, Coca-Cola’s employees will be able to enhance their professionalism, and the company itself will be able to reap significant benefits through increased credibility and improved operating results.
References
Akbar, M. S., & Khanfar, F. (2020). Benefits and compensations in employees’ motivation. Asian Journal of Economics and Business, 1(1), 19-33.
Coca-Cola reports third quarter 2021 results. (2021). The Coca-Cola Company. Web.
Global revenue and financial results of the Coca-Cola Company from 2009 to 2021. (2022). Statista. Web.
Maisoni, H., Yasri, Y., & Abror, A. (2019). Effect of organizational culture, leadership and compensation on employee engagement in Coca-Cola Amatil Indonesia Central Sumatra. Advances in Economics, Business and Management Research, 64, 837-845.
Sakyi, K. A., Musona, D., Mweshi, G. K., & Tayali, E. M. (2021). Synoptic review of theory and practice of diversity management. International Journal of Human Resource Studies, 11(1), 204-249. Web.
Tien, N. H. (2020). Staff motivation policy of foreign companies in Vietnam. International Journal of Financial Management and Economics, 3(1), 1-4.
Zhang, Z. (2019). Risk analysis of two leader drink company: PepsiCo and Coca-Cola. Asian Business Research, 4(3), 42-47. Web.