Pest Analysis

Topics: Economics, Economic growth, Retailing Pages: 7 (2164 words) Published: June 19, 2013
3. (a) training program
Companies who work hard to meet the needs of their employees can cultivate a work atmosphere conducive to productivity. Being able to plan for the needs of employees by thinking ahead can help to improve the rate of skilled employees who chose to remain working for a company. Improving the employee retention rate can reduce the money companies spend on finding and training new employees. It is important to consider employees may want or need and what the company can reasonably supply. Providing specialized on-site training, even if provided by senior members of the company, and offering one-on-one assessment and coaching sessions, can help employees reach peak performance rates. After being hired on, a strong training and mentoring program can help a new member of the staff get up to speed on company policies and any current or ongoing projects they will be working on. To help employees perform at their best, a company can follow up with continual training programs, coaching, and regular assessment. Investing in the development of its employees can allow a company to turn out more consistent products. Incentive system

An incentive program represents a substantial investment to most organizations. Engaging all employees to participate in the program will help them receive a sufficient return on their investment. Based on the concept of quality performance, incentive programs will increase an employee's perception of themselves in achieving their program goals. In order to properly motivate, programs must be designed to offer a variety of products and services to employees based on their interests and needs. The programs need to have carefully determined their rewards methodology in order to maintain an employee's motivation. In addition, successful campaigns require clearly defined rules, aligned rewards, efficient communication strategies and measurable success metrics. By combining each of these elements into the program, companies are better able to engage program participants and enhance the overall program effectiveness. In order to create an effective incentive program, an organization must keep the overall objective in mind when considering program design and implementation. Objectives should be clearly defined based on the company's goals and need to be specific so employees understand their expectations. Objectives can vary depending on the needs of each organization and they should be challenging, yet achievable. If objectives are viewed as unattainable, the program will not be successful. Once the program goals have been defined, all aspects of the program should be measured against this goal in order to ensure the program's success.

3.(b) communication network
Communication is the exchange of useful information between and among people and organizations to support decisions and coordinate activities. Within an organization, information should be communicated to management and other employees who need it in a form and within a time frame that helps them to carry out their responsibilities. Communication also takes place with outside parties such as customers, suppliers and regulators. Management should ensure that there are open lines of communication for both staff and management to use. Open communication fosters reporting of both positive and negative results to the appropriate level of management without the fear of reprisal. Management should ensure that it takes the proper actions to address these results. For example, management may decide to: establish new goals and objectives to take advantage of newly identified opportunities; counsel and retrain staff to correct procedural errors; or adjust control activities to minimize a change in risk. Hierarchy of objective

Objectives are the organization's desired outcomes. They are a product of the planning process and are necessary for coordinating efforts within an organization. Without clearly defined objectives, employees could...
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