Slide 1: Hi! My name is Danielle Regoni, and this is my presentation regarding the CVS Health Corporation and current human resources practices and concerns

Slide 2: CVS was established as a family-owned convenience store in Rhode Island in 1963, and since has grown into a multi-national corporation with over 7800 locations and over 218,000 employees. Today, CVS faces strong competition from similar retail pharmaceutical stores such as Walgreens, Rite-Aid, and privately owned stores

Slide 3: Over the past several years, CVS has experienced larger than average growth. This is due to several factors, such as greater offerings of generic pharmaceuticals and the growing number of American citizens with healthcare coverage.

Slide 4: Currently, CVS consists of 3 distinct lines of business: corporate headquarters, pharmacy services, and retail departments. Generally speaking, each store location consists of general management who are responsible for the overall store, and separate department managers for the pharmacy and retail divisions.

Slide 5: The online employer-rating platform Glassdoor.com has consistently rated CVS as “one of the worst places to work” for several years. Employees have expressed many concerns regardless of store location that can be placed into 2 main categories: concerns regarding the high-stress work environment and concerns regarding feelings of being “undervalued” by the company as a whole. These serious concerns should be addressed by CVS’ human resources department, and will be addressed throughout the rest of this presentation.

Slide 6: Regarding selection of new employees, CVS already utilizes a variety of assessment methods to employ high-quality candidates, and the majority of CVS’ current HR concerns revolve around problems with retention, not candidate selection. Therefore, no changes need to me made with the selection process at this time.

Slide 7: On this slide, CVS’ current benefits offerings are highlighted in red, and suggestions for additional employee benefits are listed in black. It is important to note that some of the current benefits offerings, such as opportunities for advancement & pay increases, wellness programs, and tuition reimbursement are highly limited, and should be enhanced.

Slide 8: CVS’ current performance review strategy, denoted in red, consists solely of an annual review with slight pay increase for receiving the highest designation of “Outstanding Performance.” However, it is suggested that for newly hired employees, the review process should consist of more than one formal review during the first year. Additionally, CVS management needs to foster more open communication to provide greater feedback to all employees throughout the year. Also, CVS currently does not utilize any goal-setting, employee recognition programs, or other rewards for goal achievement. Including such practices would significantly assist in helping employees feel more valued within the company.

Slide 9: The current training process at CVS could be described as “rapid on-boarding,” in which employees are expected to become highly productive very quickly. However, employees at CVS have repeatedly expressed concerns that these training practices are not adequately preparing

them for work expectations. Therefore, significant changes should be made to the training process including: company orientation, extensive customer service training, extensive job-task training, & periodic review of company procedures.

Slide 10: The 1st of 2 major HR concerns at CVS revolve around the high-stress environment in which employees work. If no actions are taken by leadership, the company will continue to experience high rates of turnover, as well as low task performance, high absenteeism, job dissatisfaction, and burnout.

Slide 11: By creating an extensive expansion in the number of store workers, CVS could effectively address a number of current employee concerns including: long work shifts with inadequate breaks, feeling ill-equipped to handle the high volume of customers, and struggles with handling customers and additional work tasks. Additionally, CVS should consider enhancing their wellness programs to include stress relief sessions, such as: techniques for handling stress and yoga or meditation classes.

Slide 12: The 2nd major HR concern within CVS stems from the employees’ feelings of lack of value within the company. This also leads to high absenteeism, high turnover, lack of motivation, and job dissatisfaction. A number of successful methods can be implemented to instill feelings of value within the company. These include employee recognition and incentive programs.

Slide 13: Currently, CVS contracts with a firm called “EthicsPoint” to provide an anonymous hotline for employees to report any concerns. However, if this method is not able to enact change within the company, then this procedure is highly ineffective. Instead, CVS should consider implementing more channels of open communication among employees at all levels, such as through instituting an open-door policy.

Slide 14: Despite CVS’ tremendous growth in recent years, the company continues to experience high employee turnover and high levels of job dissatisfaction. Unfortunately, the concerns expressed by multitudes of employees appear to have fairly straightforward solutions that the company should consider implementing. Thank you for your time!