Human Resource Management - Best Practices at the FedEx Corporation |
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"Unlike a factory which churns out goods, FedEx as a service company has only people - couriers to pick up and deliver goods and document, customer representatives and sales executives. If we hire the right people, train them, equip them and manage them properly, they will provide service that will satisfy customers and in turn those customers will reward us with business after business that generates profits."1 - Malcolm Sullivan, Managing Director, FedEx (South Pacific). Introduction
FedEx was among the first few companies in the world to develop a formal HR policy which viewed employees as a means for achieving long-term growth and profitability. Framed and valued since FedEx's inception in 1973, the people-service-profit (PSP) philosophy (Refer Exhibit I) viewed employees as the key contributors to the company's profitability.
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1] As quoted in the article, "FedEx Strategy to Stay
Ahead of Competition," by Jimmy Yeow, Business Times, July 21, 1999. |
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