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Herman Miller

Essay by   •  December 10, 2013  •  Essay  •  428 Words (2 Pages)  •  3,483 Views

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1. What is your evaluation of HMI's financial performance? How does its performance compare to prior years? the competition?

Herman Millers financial performance was good going into the recession and above its counter parts in the recession years posting only a minor net operating loss once. (2010 .04% loss) In 2011 stead positive growth occurred returning HMI to net gains. After earnings declined in 2009 and 2010 HMI they recovered nicely in 2011 posting a Net earnings increase of 150% year over year.

Competitors are facing similar issues as HMI but with strong ergonomic designs and a great reputation HMI has a distinct advantage.

2. What are the non-monetary benefits and how do they facilitate strategy execution at HMI?

Herman Miller offer several non-monetary benefits that range from the usual, health Insurance, to unusual, concierge services. These non-monetary benefits fit well into the strategy of hiring and retaining high quality work force in an effort to increase efficiencies and lower costs. The more normal benefits, see below, keep HMI competitive when hiring and help keep a workforce healthy. This allows for the best prospects to be hired and a quality workforce inplace. The less common services also attract a higher quality workforce but there are additional benefits. The Gym Memberships will encourage workers to work out and studies have shown that working out lowers absenteeism due to both physical illness and mental illness. The concierge service and On-Site services will make things more convenient for employees lower stress and distractions while increasing focus on work. Finally the tuition reimbursement at 100% allows employees to gain higher skills and more usable knowledge to improve HMI as a company

Normal Benefits More Unique Benefits

Insurance: Health, vision care & prescription plans Gym memberships

Short-term & long-term disability insurance Concierge services (e.g. dry cleaning, greeting cards & take-home meals)

Long-term care insurance and On-site services (e.g. massage therapy, banking, personal trainers).

Employee assistance programs. 100% tuition reimbursement

Flexible spending accounts

Life insurance & accidental death insurance

3. Describe the culture at HMI. Would you characterize HMI's culture as healthy and largely supportive of good strategy execution? Explain.

HMI is a Strong-Culture company that is focused on the employee and a sustainable, eco friendly strategy. It is most certainly a healthy and supportive of a good strategy execution. This is evident in

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