The Wynn Resorts are an embodiment of luxury and quality. The founder, Steve Wynn has invested a lot of time and money in the infrastructure and the human resource of his establishments. His resorts are not only built for comfort and pleasure, they are run by staff that is trained to create the best experience for the clients. All employees, from the cleaners to the room attendants know how to make clients happy (Jae-Kyoung)
The management works on the principle that it is people who can make fellow people happy. If a company fails to make employees happy, they will let out their frustrations on the customers. In the hospitality industry, this is not desirable because customers pay a lot of money to have a good experience. Wynn Resorts ensures that the employees are content at all times so that they can serve customers very well and make them happy. When the employees are happy the customers will be happy and business will perform well (Kalamas & Kalamas 35). As far as Wynn is concerned, the human resource department is the most important department in any organization.
Wynn believes that it is the responsibility of management to ensure that employees are motivated. He uses an example of newspaper writing. When the employee is job secure, he or she can write excellent. However, if the newspaper company is facing financial issues, or the boss upsets the writer, the quality of work will be poor because the writer is worried about his or her future (Jae-Kyoung). The boss must ensure that the company is stable and that writers are treated properly so that they can maintain the best frame of mind for writing. In the same way, managers in any business should ensure that employees remain motivated through proper compensation, communication and safe working conditions.
Yahoo and Wynn resorts have different approaches to career development. The Yahoo process is largely informal while Wynn resorts use a more formal approach. The organizational structure at Yahoo focuses on job performance and not rigid hierarchical systems. All level of the organization mingles freely within the organization. The chief executive officer does not get preferential treatment such as an exquisitely furnished office, access to luxurious dining, lodging or private transportation. The current C.E.O, found at Yahoo, unlike Warner Brothers, there were designated parking spots, offices or eating spaces. All employees are equal and are treated as people and not according to their job titles.
Yahoo recruits employees based on expertise and experience; all employees are well qualified to perform their duties. This is why the company concentrates on creating a friendly working environment in which employees are free innovate. The company founders did not see the need for employees obey a strict dress code, confine themselves in offices or limit interaction between all levels of management (CEO EXCHANGE 18). At Yahoo, outsider integration occurs faster because of the social nature of the workplace. Staff can easily rely on fellow employees during the exploration and trial stage of development. Advancement and career growth occur at the individual’s pace since they expected to perform even without supervision.
The situation at Wynn Resorts is slightly different. The founder, Mr. Wynn has ensured that the organization has an organized managerial system. The human resource department is one of the most important departments in the organizations. After selection, employees are oriented on the organizational history, philosophy, rules and procedures. Additionally, the new employees are introduced to human resource policies, employee relations and the organizational culture.
The exploratory and trail stages of career development take place faster because employees are under pressure to fit in with the rest of the organization (Kalamas & Kalamas 67). Since the resort values its employees, it is easy for employees to advance and grow their careers within the organization. This is because with time, employees feel as part of the organization and its mission to make its clients and employees happy.
Both Yahoo and Wynn Resorts promote career development through different approaches. Yahoo is an internet based company whose value is tied to its ability to create innovative web based products. It is therefore imperative that Yahoo creates and maintains an environment that is conducive for creativity and innovation. On the other hand Wynn Resorts operates in very formal industry. The hospitality industry operates within hierarchical systems which are highly defined. Some of the important departments within the hierarchy are food production and service, housekeeping, front office, finance and human resource. Career development is still possible within these structures. Employees can grow from one level of employment to the next through experience and additional training (Kalamas & Kalamas 12).
Steve Wynn the founder of Wynn Resorts is at the growth, maintenance and decline stage of his career as an entrepreneur. According to Kalamas & Kalamas (88), this stage of career development is characterized by acceptance of organizational realities, a great ability to deal with change and a mastery of strategies for getting ahead. Mr. Wynn has built his company from nothing, lost it in a hostile take-over and rebuilt it again. He focused, resourceful and visionary. He is also independent and experienced in provision of luxurious hospitality and gaming services. Mr. Wynn has built a reputation for himself as a perfectionist who strives to create the most memorable experience for his employees and clients. Despite his demanding career, Mr. Wynn makes time for his family and friends (CEO EXCHAGE 21). This balance is an indication of his preparation for retirement and the achievement of a balanced life.
The C.E.O of Yahoo, Mr. Terry Semel is also at the establishment and advancement stage of his career development. He adapted successfully to his big career change and the difference in organizational structure. The CEO learnt to work within the new system enough to produce impressive results two years into his tenure. He was able to achieve this by redefining his position as an excellent manager, learning how to work independently and focusing on results (CEOEXCHANGE 18). Mr. Semel has silenced critics who questioned how he would perform in the Silicon Valley given his lack of technical training. He has successfully proven that he can adopt his marketing prowess to suit any business model or industry. His career at Yahoo is slowly edging towards growth and maintenance as he gathers more experience and becomes more responsible for strategic business decisions.
CEO Exchange. Betting on big ideas: How taking risks can reap rewards“ featuring Stephen A. Wynn and Terry S. Semel. Web. 10 December 2011
Jae-Kyoung, Kim. Wynn’s Management Philosophy. Web. 11 December 2012
Kalamas, David J, and Joan B. Kalamas. Developing Employee Capital: Setting the Stage for Lifelong Learning. Amherst, Mass: HRD Press, 2004. Internet resource.