Compensation

Live Case Study

Compensation at Neiman Marcus

HRM 290 Live Case Study

Sabrina Travers

I chose to research the compensation strategy of Neiman Marcus. Neiman Marcus is a luxury specialty retail department store operated by the Neiman Marcus Group in the United States. The Neiman Marcus Group also owns Bergdorf Goodman (specialty retail department store) and a direct marketing division, Neiman Marcus Direct, which operates catalogue and online operations under the Horchow, Neiman Marcus and Bergdorf Goodman names (“Neiman Marcus”). This company sales upscale clothing, footwear, furniture, jewelry, beauty products, electronics, and housewares. Neiman Marcus has built a legacy of providing outstanding customer service, sailing the highest quality merchandise, and obtaining the best employees.

History

Neiman Marcus was founded by Herbert Marcus Sr., Carrie Marcus Neiman, and A.L. Neiman. On September 10, 1907 the first store was opened. The store was lavishly furnished and stocked with clothing of a quality that was not normally found in Texas. Within a few weeks the store’s initial inventory was completed sold out. Neiman Marcus was instantly a success, and its first several years were quite profitable. During the 1930s and 1040s the store decided to include a less expensive clothing lines (due to the Great Depression) along with its high-end items (“Neiman Marcus”). Today, Neiman Marcus has over 40 stores and is still operated under its original name and still headquartered in the city (Dallas, Texas) where it began.

The Company’s Philosophy

Neiman Marcus is committed to excellence. To fulfill their promise of superior customer service, they hire the best people and educate and empower them to satisfy customers. Associates have the opportunity to develop to their full potential in a climate of dynamic growth, teamwork, and open/ direct communication (Associate Handbook 3). In order to ensure Neiman Marcus is getting the best employees they rely on the...