Select an existing business that aligns their business strategy with employee performance. You may also use your own company. Consider the effect this alignment has had on sustaining good business strategy. Then prepare a 500 word discussion and include the following:
Evidence of this organization's usage of performance management techniques
Evidence of this organization's measurement techniques surrounding performance against their strategic plan
Evidence of financial metrics demonstrating strong business performance
I would like to use American Express
American Express utilizes performance management techniques to align their business strategy with employee performance. The company had a significant drop in earnings in 2001, and set ambitious cost-savings goals to save "more that $250 million dollars annually between 2002 and 2004" (The American Express Company, 2010). Part of this reduction included reducing the IT workforce by 50 percent. The company wanted to make sure that it retained its best talent during this turbulent time, as well as continued its reputation as an employer of choice. To do this, American Express developed a performance management program focused on manager accountability and employee development. The company rewards employees for demonstrating qualities that have been determined as high impact culture traits. The company also created targeted tools to help managers and employees identify core skill requirements and encourage employee self-development. Furthermore, American Express invested in coaching first line managers to learn how to provide constructive feedback.
The premise of American ...
This detailed solution looks at American Express Company's alignment of business strategy with employee performance. Includes APA references.