TO: Traci Goldman
FROM: Gabriella Hristofis
CC: Bradley Stonefield
DATE: May 18, 2015
SUBJECT: Performance Management
I will be putting together some recommendations, based on the current business strategy, to increase performance. I will be examining the six characteristics for performance management framework. Landslide Limousine will be at a -$50.000 in expected revenue for the first year and is planning on 25 new employees. It is imperative to come up with a strategy to maximize performance and minimize turnover rate to ten percent or less. In order to do this, I will need to look at the topics listed to define the companies overall performance management plan:
I. Alignment of the performance management framework to the organizational business strategy.
Performance reviews play an important role in the overall objective of performance management. Performance reviews serve as a tool to help employees improve their overall standards by helping them realize their full potential, and also provides information to employees and managers for decision-making. Reviews provide reasons employees changed positions whether they needed more training or promotion, or needed to be let go. They provide feedback to employees, provide developmental needs, and help spot organizational problems. Using the management by objective (MBO) process establishes objectives that employees need to accomplish and sets agreeable standards by both employee and management. I suggest having immediate supervisors, self-appraisals, and customer feedback to evaluate performance. The supervisors or direct managers are most familiar with the individual’s performance. “Self-appraisals give the employee the opportunity to rate themselves in regards to their job performance.” (Cascio, 2013) It provides the opportunity to be involved in the performance appraisal process. Customer feedback is also very useful input for employment decisions, such as promotion, transfer and...
References: Cascio, W. F. (2013). Managing Human Resources (9th ed.). New York, NY: The McGraw Hills Companies, Inc..
Duggan, T. (2014). How to Develop a Skill Gap Analysis. Retrieved from http://smallbusiness.chron.com/develop-skill-gap-analysis-39872.html
Heathfield, S. (2014). 360 Degree Feedback: The Good, the Bad, and the Ugly. Retrieved from http://humanresources.about.com/od/360feedback/a/360feedback.html
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