Explore BrainMass

Explore BrainMass

    Performance Managment Plan

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Phone Conversation with Bradley Stonefield
    Traci: Hi, this is Traci.
    Bradley: Hey, Traci, this is Bradley Stonefield returning your call.
    Traci: Hey, Bradley, did you get the recommendations for the pay and benefits strategies I sent over?
    Bradley: Yes, I got them and I'm still looking them over, but they look really good so far.
    Traci: Great! While you review those, I'd like to have my employees start working on some recommendations for a performance management plan for you. Is that all right?
    Bradley: That would be great. What information do you need from me?
    Traci: I think I have everything I need, but let me just run through it with you to make sure our information is current. Let me pull up my list. OK...type of business?
    Bradley: Limousine service.
    Traci: New location?
    Bradley: Austin, Texas.
    Traci: Current location?
    Bradley: Same place.
    Traci: Number of employees?
    Bradley: Plan for 25.
    Traci: Annual Net Revenue?
    Bradley: I expect -$50,000 annual net revenue this year.
    Traci: Revenue growth?
    Bradley: 5%, for a couple of years.
    Traci: OK, that's the information I have on file, so we're good to go there. We'll also need to know your turnover rate.
    Bradley: Sure. I'm going to predict an annual employee turnover rate of 10%.
    Traci: All right. That should be all the information we need right now to come up with some recommendations for you. We'll get them over to you within the next week or two.
    Bradley: That sounds great!
    Traci: OK, have a great week.
    Bradley: You too.

    © BrainMass Inc. brainmass.com June 4, 2020, 4:21 am ad1c9bdddf


    Solution Preview

    Performance Management Plan: Recommendations

    Employee Ratings
    Employee performance ratings may be necessary to help the organization stay on track, with
    respect to organizational goals. They should not be used to force competitiveness or as a means of
    coercion to get desired results. Employee goals should be attainable, should support the organization's
    mission, and should take into account varying levels of knowledge, skills, and ability. McNamara (2013)
    suggests using the SMARTER acronym for establishing employee performance ratings.
    S-specific goals that do not leave any question. Ie: Limo drivers earn 85% customer satisfaction rating.
    M- measurable, must be able to determine if specific goals were met. Ie: Customer satisfaction survey for each limo driver.
    A-achievable, employees should have resources and skills to accomplish established goals. Ie: limo drivers should have daily access to cars and should have customer service skills. Reduction of fuel usage through the selection of optimal routes (providing the optimal routes are safe) is another achievable goal that directly ties in to the organization's costs and profits.
    R-relevant, related to organizational goals. Customer satisfaction improves company's public image and Increases referral rate, and helps maintain loyal customers, to the extent they can be loyal in the limo ...

    Solution Summary

    Performance management plans are given to develop ratings of employees.