JC Penny is a company that has been recording negative financial results in recent times. This has also translated to poor stock performance in the stock exchange. The issues affecting the company began at a small scale but have culminated to catastrophic levels. As a matter of fact, the company’s human resource department is made up of people hailing from various cultural backgrounds. A quick analysis of the present condition of the company reveals that the company is faced with ethical challenges which might hamper its growth. It is also clear that despite the many employees the company has, it has not been able to record positive financial results in recent years. In order to achieve this, the company has to revamp its human resource practices. This paper delves into unraveling the turnaround strategy that I will employ to ensure the company returns to profitability.
By definition, human resource management can be termed as those practices put in place to ensure people work together towards the realization of set goals and objectives. On the other hand, management involves the running and controlling of business activities of an entity. The use of a particular collection of human resource management models can profitably improve organizational performance and create a powerful force that can propel the company into transformation and performance in a short period (Patrick, 2016). In most instances, companies fail to achieve their desired goals because most employees are not meeting their end of the bargain which in the end leads to a decline in profitability and eventually culminating into the collapse of the organization. The necessary plans to transform the company include awareness of the company objectives and job descriptions, analyzing the company culture, assessing current employees, adopting an approach to transformation, laying off, hiring employees, training and developing employees, team building and lastly motivation of all employees.