Performance Measurement of Ernest & Young

Topics: Strategic planning, Strategic management, Employment Pages: 8 (2103 words) Published: February 11, 2013
Business Application Report
Performance Measurement
This BAR studies Ernest & Young’s employees in Core Business Service and how Ernst & Young does not align its mission and vision to its employee’s performance measurement, compensations and ultimately personal and professional goals.

Table of Contents
EXECUTIVE SUMMARY------------------------------------------------------------------------------------------------------- 2 INTRODUCTION ---------------------------------------------------------------------------------------------------------------- 3 SITUATIONAL ANALYSIS ----------------------------------------------------------------------------------------------------- 4 Mission ---------------------------------------------------------------------------------------------------------------- 4 Vision ------------------------------------------------------------------------------------------------------------------ 4 MAJOR STRATEGIC ISSUES ------------------------------------------------------------------------------------------------- 4 ANALYSIS OF THE ALTERNATIVES FOR ADDRESSING THE STRATEGIC GOALS -------------------------------- 5 ALTERNATIVE 1: Hire EY Advisory Group ------------------------------------------------------------------------------- 5 ALTERNATIVE 2: Hire External Consultant ------------------------------------------------------------------------------ 6 ALTERNATIVE 3: Form a Change Management Committee ------------------------------------------------------- 6 IMPLEMENTATION PLAN ---------------------------------------------------------------------------------------------------- 7 CONCLUSION ------------------------------------------------------------------------------------------------------------------- 8 APPENDICES -------------------------------------------------------------------------------------------------------------------- 9 Appendix A: Functional Units in CBS ------------------------------------------------------------------------------------ 9 Appendix B: Ernst & Young Mission Statement ---------------------------------------------------------------------- 9 Appendix C: Ernst & Young Vision Statement ----------------------------------------------------------------------- 10 Appendix D: Sensitivity Analysis – Alternative 1 -------------------------------------------------------------------- 10 Appendix E: Sensitivity Analysis – Alternative 2 --------------------------------------------------------------------- 11

Executive Summary

Ernst & Young LLP (“EY”) is a successful global professional service firm provides assurance, tax, advisory, transaction advisory services to its clients. Along with PwC, KPMG, Deloitte Touche the four professional firms together are known as the Big Four. Today, EY operates in 144 countries and with 141,000 employees working together with clients and respective communities to achieve common goals. After years of transformation, today’s EY is a global firm that requires its employees across the world to abide by professional code of conduct, policies, practices and guidelines. Its performance measurement and compensation policies are also articulated by the global head office which resides in United Kingdom. The business environment changes so rapidly however EY has not updated its performance measurement and compensation policies to keep the same pace as the economy. Also, EY has number of global policies, practices and guidelines address common issues around the world but results may not be as desirable as the difference in culture and the nature of each issue are simply unique and different. Different Business Units and different sub functional units have different goals and should be measured upon different criteria. This report will particularly examine the Core Business Service (“CBS”) (see Appendix A for an example of CBS’ functional units) line in EY Canada and in the end provides strategic recommendation and implementation plan....
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