COMPANIES by 6% in noontime and its

 COMPANIES
BACKGROUND:  ”Waynn Resorts
limited ,owns and operate Wynn Las Vegas and Encore in Las Vegas, Nevada
as  well as Wynn Macau and the Wynn
Palace located in the special Administrative region of Macau in the People’s
Republic of China .The company holds more Forbes Travels guide five stars than
any other independent hotel company in the worlds and is  led by Chairman of the Board and Chief
Executive Officer, Stephen A.Wynn, who possesses more than 5 years of
development experience of casino resorts”.(Wynn resorts )

 

 

 

SEXUAL
HARRASMENT ALLEGATION ON WAYNN FOUNDER

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Casino magnate
Steve Wynn facing sexual harassment allegations

CBC NEWS JAN 26 2018

The founder of Wynn Resorts Steve Wynn has been under scanner
for various allegations of sexual harassment. A number of women say they were
harassed or assaulted by the company.

In one case the company had made a settlement of nearly 7.5
million us dollars. The report relies on interviews with over a hundred people
who were associated with the company in the past and saw a followed pattern of
sexual miscount.

 

 

COMPANY
RESPONSE TO SUCH ALLEGATIONS

Wynn enterprise has strong denied the allegations made on its
founder and says all such allegations are based on such untrue allegations. The
company reply to such allegations were “Wynn enterprise is full committed to
operating at the highest ethical standards and maintaining a safe and
respectful culture “. It further states that there all the tactics done by
Steve EX- Wife.

Wynn Response to such allegations: ”The idea that I ever
assaulted any women is preposterous ”.

 

 

 

EFFECT
OF SUCH ALLEGATIONS ON THE COMPANY

January 27, 2018

”Even though in the eyes of the law a company is a separate
legal entity (artificial person) having its own existence and not being
associated with a particular individual. Said that even though company is a separate
legal entity it still need individuals to run it and to succeed. Hence any
actions done by these individuals do have some effect on the companies
reputations and its earnings ”.

 As the report of the
various sexual harassment case broke out about involving Steve Wynn the company
saw a downfall in its share by 6% in noontime and its losses further
accelerated during afternoon closing down over 10% at $180.29. Further Steve
Wynn net worth fell by nearly 250 million USD and as on January 28, 2018 Steve
had to step down from Republicans  
national committee as he handed over the resignation letter to the RNC
Chairman.  (CBC NEWS)

 

 

 

 

ROLE
OF HUMAN RESOURCE MANAGEMENT IN THIS SCENARIO

 January 29, 2018

There were various cases of sexual harassment that was filed
with the human resource department at Wynn flagship casino and the department
had actually taken various steps so that such incidents will no longer happen.
In the year 2005 after an incident of sexual assault was filled with the human
resource department in which managers stated that Wynn forced to have sex. The
company had a pay a settlement fees of 7.5 million USD. (CBC NEWS)

This incident clearly illustrates us that no matter who might
the person be, a strong human resource management can get justice for the
victim, even though such incidents effects the reputation of the company and
has to pay some compensation to the deceased.  

 

 

 

DISCIPLINE
THAT SHOULD BE ADOPTED BY HUMAN RESOURCE MANAGEMENT

 

FORUMLATING INVESTIGATION COMMITTEE: An
investigation committee should be set up by the HR department and this
committee and no string should be attached to this committee.

The committee members should have a personal interview of each
and every complainant, their statement should be taken down by the members.

Once all the data has been collected the company should look
out the similarities between different cases. The company should find out the
common sexual assault rhythm and patterns.

Once analysis is done a detailed report of the matters should
be submitted to the board of directors. The report should be made free from any
error and under no pressure from any department. (CBC NEWS)

FOMULATING A STRONG ANTI-HARRASMENT POLICIES AND TRAINING
STAFF TO RECOGNISE AND REPORT SUCH BEHAVIOUS :

The human resource managers should adopt various policies to
minimize and eliminate assault cases in the work place such policies should be
implemented as it violates various basic laws of CANADA like Canada Human
rights act and the Canadian labour code and the criminal code.

The department can also set up various department wherein the
victim can go and report such incidents, and strict actions should be
undertaken.

 

 

 

 

 

 

 

 

WORKS
CITED

“Investor Overview.” WYNN RESORTS LTD,
wynnresortslimited.gcs-web.com