The process of producing an environment in which individuals can perform duties to the best of his or her ability is known as performance management. The processes of performance management start when the company requires an employee to perform a specific and ends when an employee departs from the organization (Heathfield, 2013). At Riordan Manufacturing there are many important positions that depend on the performance management system to ensure that employees achieve company set goals and objections. Riordan Manufacturing performance management systems are very important. The two positions chosen by Team D to discuss in this paper are the customer service rep and chief financial officer. Team D will describe the general function of performance management systems, suggest two job evaluation methods for the positions, suggest two job evaluation methods for each position, and determine the advantages and disadvantages of the methods concerning each position. Team D will also compare and contrast possible compensation plans for the two positions and explain the importance of providing employee benefit plan to the customer service rep and chief financial officer positions at Riordan Manufacturing. General Function of Performance Management
Riordan Manufacturing uses performance managing systems that include annual pay modifications based upon performance, along with employee recognition programs. Riordan’s determines the company’s annual pay changes by the position in relation to the external market, along with performance expectations set by the company. The performance expectations fall into three categories, which are does not meet, meets, and exceeds. Increase in pay is always a motivator for increasing performance and productivity among employees.
Riordan Manufacturing also offers three kinds of awards/programs for their employees under their performance management systems. The company offers an outstanding employee award once a year. Riordan’s management and employees nominate high performance employee who have achieved high rating in employee performance. The company’s committee of executives reviews the candidates selected and presents the winner with the most outstanding employee’s award. One qualification is modeling respect for diversity, which is something that Riordan is serious about. Riordan rewards the value the company has in the morals of employees.
The other award given by Riordan is the seniority award. The company gives these awards to employees as he or she complete career milestones at one year, fifth year, tenth year, and 20th year. Although the seniority award is not monetary, it is important for the employees to notice that Riordan is noticing their loyalty and contributions to the company. The last program offered by Riordan under their performance management systems is the employee suggestion program. The company gives this reward to employees when he or she make suggestions for products put into place. The employees receive a $25 check and their picture in the company newsletter; although this does not measure the staff’s daily performance it does motivate them to make contributions for the good of the company. Using performance management systems helps Riordan rate the employee’s performances and motivates each employee to work as a team. For example, using the annual pay adjustments it would becoming apparent to Riordan executives that employees were not doing their jobs if they rated “does not meet” for two years in a row, it would be time for a face-to-face.
Job Evaluation Methods
Riordan Manufacturing currently employs 550 employees. The company has positions ranging from production to chief legal counsel. The company takes pride in attracting highly qualified employees. Each position at Riordan plays a vital role to the company’s...
References: DeCenzo, D., & Robbins, S. (2007). Fundamentals of human resource management (9th ed.), retrieved from The University of Phoenix eBook Collection database.
Heathfield, S., 2013, Performance Management, Retrieved from
Riordan, Michael (August 15, 1999) Retrieved from https://ecampus.phoenix.edu/secure/aapd/CIST/VOP/Business/Riordan/docs/HR/EmpFiles/Dale%20Edgel%20Offer%20Letter.pdf
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