Freeman’s stakeholder theory – a theory that states that suppliers, consumers, employees, communities and financiers, all have to be equally valued in order for the business to be successful, is a theory that is not being practiced with the $250 billion company, Walmart. Starting on September 29, all Walmart employees will have to follow a new dress code: a collard white or blue shirt with black or khaki pants.
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Although the employees do not have to buy this new “look” from Walmart, they will however, have to get it elsewhere and/or pay for it themselves. Keep in mind that the majority of Walmart employees are often not the most financially well-off: “Walmart claims to… pay an “average, full-time hourly wage” of $12.92. But those earning closer to the minimum wage may fall below or just above the federal poverty level.” [2] Although there is a mixed response coming from Walmart employees regarding the new uniforms, there are loud cries of complaints. Simply put, many employees do not have the $30-$60 to invest in these new “uniforms” for work, when they are barely making enough salary for their living costs.
In my opinion, I believe that the company will enforce these new uniforms regardless of the fact that some of their own employees cannot even afford it. Walmart has been under scrutiny multiple times throughout the recent years and it is this type of business practice that shows negligence to their employees and community that will ultimately destroy the trust of stakeholders, creating a future risk of decline in the company.
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[2] – Jillian Berman, The Huffington Post