Hrm/531 Performance Management
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- Date Submitted: 02/08/2015 11:43 AM
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Performance Management Plan
HRM/531-Human Capital Management
February 2, 2015
Performance Management Plan
Effective performance management plans are extremely important for Landslide Limousines to be successful. Atwood and Allen have outlined a performance management plan that aligns the performance management framework with the strategies of the business, developed an organizational performance philosophy, performed job analyses to identify necessary skills needed by employees, identified methods for measuring employee’s skills, developed a process for addressing skill gaps, and developed an approach for delivering effective performance feedback to employees. Implementing the outlined plan, in conjunction with Atwood and Allen’s recommendations, will ensure success for Landslide Limousines and its employees.
Performance Management Framework Alignment
Landslide Limousine’s organizational business strategy is to provide clients with first-class transportation services. Currently Landslide’s owner, Bradley Stonefield, anticipates a first year revenue of $50,000 with an expected 5% increase for the first couple of years. In addition, Stonefiled estimates a 10% turnover rate.
According to researchers at a global management consulting firm, “there is a clear relationship between a company’s organizational performance management and its financial performance” (Freifeld, 2013, para. 3). Typically, a company’s largest investment is employees, so a company is financially dependent on those employees being productive. To align performance management with the business strategy, Stonefield will need to make a full commitment to performance management by setting achievable employee-specific goals, monitoring employee achievements on a regular basis, and linking learning to employee performance (Freifeld, 2013). Alignment of business strategies and performance management will create clear lines of communication for goals and expectations between employees and...
HRM/531-Human Capital Management
February 2, 2015
Performance Management Plan
Effective performance management plans are extremely important for Landslide Limousines to be successful. Atwood and Allen have outlined a performance management plan that aligns the performance management framework with the strategies of the business, developed an organizational performance philosophy, performed job analyses to identify necessary skills needed by employees, identified methods for measuring employee’s skills, developed a process for addressing skill gaps, and developed an approach for delivering effective performance feedback to employees. Implementing the outlined plan, in conjunction with Atwood and Allen’s recommendations, will ensure success for Landslide Limousines and its employees.
Performance Management Framework Alignment
Landslide Limousine’s organizational business strategy is to provide clients with first-class transportation services. Currently Landslide’s owner, Bradley Stonefield, anticipates a first year revenue of $50,000 with an expected 5% increase for the first couple of years. In addition, Stonefiled estimates a 10% turnover rate.
According to researchers at a global management consulting firm, “there is a clear relationship between a company’s organizational performance management and its financial performance” (Freifeld, 2013, para. 3). Typically, a company’s largest investment is employees, so a company is financially dependent on those employees being productive. To align performance management with the business strategy, Stonefield will need to make a full commitment to performance management by setting achievable employee-specific goals, monitoring employee achievements on a regular basis, and linking learning to employee performance (Freifeld, 2013). Alignment of business strategies and performance management will create clear lines of communication for goals and expectations between employees and...