...located in Detroit, Michigan and planning to expand its business in Arizona. The company has net revenue $10,000,000 and expected to stay the same revenue growth at -3 % at least for the first year. They have 650 employees and add additional 130 employees to a new office in Arizona. The company’s turnover rate is at 20% and they try to remain at the same rate after expansion in Arizona. Our team will provide them with a performance management to achieve their business success into the Arizona market. Business Objectives The first step for performance management is the business strategy. Managers and employees need to define their goals and set them up with the mutual goals. The process of establishing the strategy must be a collaborative work between managers and employees. Once establishing the strategy, the company should focus on the goal. There is main task of a performance management for Clapton Commercial Construction. • Reduce turnover rate by 10% within the first of the fiscal year. Due to expanding to Arizona, it might be difficult for managers and employees in Detroit, Michigan to follow up their new strategy. There will be new 130 employees in Arizona and the company makes sure to help them fit in the company’s frame and philosophy. This process will be accomplished by temporary or permanent transferring employees from Detroit HQ who provides high efficient training, job performance and company’s culture. In addition, managers will keep communicating with new employees...
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...Critical Incident Method Critical incident An unusual event that denotes superior or inferior emplyee performance in some part of the job The manager keeps a log or diary for each employee throughout the appraisal period and notes speciic critical incidents related to how well they perorm. Behaviroal Checklist Method The rater checks statemnets on a list that the rater believes are characteristic of the employee’s performance or behavior. Behaviorally Anchored Rating Scale Productivity measures Appraisals based on quantitative measures that directly linnk what employees accomplish to results beneficial to the organization. -Criterion contamination -Focus on short-term results Management by Objectives(MBO) A philosopy of management that rates performance on the basis of employee achievement of goals set by mutual agreement of employee and manager. The appraisal focuses on four related categories Financial, customer, processes, and learning Ensuring the method’s success: Types of Appraisal Interviews Tell and sell – persuasion Tell and listen – nondirective Problem Solving – focusing the inteview on problem resolution and employee development. Appraisal Interview Guidelines: Invite Participation – Ask for a self-Assesment Change Behavior – Problem Solving Focus Minimize Criticism – Express Appreciation Establish Goals – Be Supportive Follow Up Day by Day Factors That Affect an Employee’s Performance Motivation Environment Ability ...
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... Strategic Compensation Chapter 7 Discussion Questions 1. You are a compensation analyst for Worry-Not Insurance Company, which is located in Hartford, Connecticut. Define the relevant labor market for insurance adjusters and data clerk. Describe the rationale for your definition. In my opinion I would be responsible for administering company compensation programs. This would be the market of how much the rates for these jobs are. I would evaluate and analyze salary, determine pay grades of the now labor market, and also I would get input on the compensation surveys. I would pre establish guidelines to perform the functions of the job. I would than report findings to the manager. 2. Refer to table 7-2. Cross out salaries 26-35. Calculate the mean and median for this reduced data set. Mean- (1,337,500) based on 35 salaries = 38,214.49 Case Study 1. What are some strategic considerations in establishing a pay structure at Nutriment? Mr. Stewart needs to start off with the strategic analysis. In the planning the strategic compensation plan or strategy for the organization the company has to look into two individual – level consequences of a pay structure decisions, as internal pay standing and external pay standing. The company can use detailing of the job description and job analysis to maintain an up to date record of the suitable compensation plan for its employees based on...
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... MKT/421 (BSDS1DBAM2) Class Home Week1 Week2 Week3 Week4 Week5 Full Syllabus Week2. Strategic Planning and Positioning. Jul 22 - Jul 28Week2 Strategic Planning and Positioning Jul 22 - Jul 28 / 13 points Tasks Complete the Learning Team Charter. Objectives/Competencies 2.1Identify the components of an effective marketing plan. 2.2Conduct a SWOT and competitive analysis. 2.3Apply the market research process in discovering and answering business questions. 2.4Apply a segmentation model to create a target market and develop a positioning statement. Learning Activities Required Reading Basic Marketing, Ch. 2 43 Reading Basic Marketing, Ch. 3 14 Reading Basic Marketing, Ch. 4 11 Reading Basic Marketing, Ch. 7 10 Reading Basic Marketing, Ch. 18 7 Discussion Favorite Brand Discussion 24 Discussion Product and Organization Selection and Approval 6 Discussion Research and Discussion 3 Video The Five Competitive Forces That Shape Strategy 1 Video Target: Inside the Bullseye 2 Video Positioning 11 Video Marketing Research and Segmentation 4 ERR Week 2 Electronic Reserve Readings Assignments ASSIGNMENT STATUS FRIENDLY NAME TITLE DUE DATE POINTS UNREAD COMMENTS Participation Week 2 Participation Due Jul 28, 11:59 PM /3 Presentation Marketing Mix Presentation Submitted /5 5 Paper Personal Branding Plan Paper Due Jul 28, 11:59 PM /5 Total Points /13 Course Progress 4.7 / 8 (58.75%) of points...
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...increase market share and gain a competitive advantage. Gap Analysis: Global Communications In response to the external threats from competitors Global Communication has re-evaluated their current business model and has embarked on a new strategic plan. Whereas this new course may lead them to regain market share they failed to recognize the value of their long term workforce. Global Communications has to take action and respond to the external threats in the telecommunications industry if they are to remain competitive. Whereas these changes may bring success they are full of challenges. Examples of these challenges include implementing the new strategies so they succeed in improving the company’s current position in the telecommunication industry and effectively deal with pending litigation from the Union who strictly opposes the outsourcing of call centers to Ireland and India as this will contribute to laying off employees in the United States. The corporate cost cutting and layoffs will have a negative impact on moral, thus affecting the productivity of the remaining employees. To mitigate these risks Global Communications will conduct a strategic analysis that will assist the firm in improving and developing their strategic plan. The analysis will include an examination of the firm’s performance in the current market, their impact...
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...successfully are products of well-defined and thoughtful planning, hence it can be said that businesses who neglect planning, essentially plan to fail as they ineffectively provide procedures which should be executed in order to provide a positive direction for the organisation to pursue. In essence, planning is crucial as it minimises uncertainty so staff will better construct suitable responses to change or any problems which may arise as they have a guide to refer to, establishes a sense of purpose thus enabling a coordinated effort to fulfil the set goals and reduces waste such as monetary resources and time consequently leading to more efficient outcomes and processes. The potential for either success or failure ensues from how clearly goals are delineated and the manner in which procedures are implemented with the aim of fulfilling them, the type of plan an organisation utilises and the effectiveness of strategic management. Goals can be delineated as, “statements of intended results that are general in nature … measureable on a naming or ranking scale of measurement” (Kaufman 1988) and are an integral part of an organisation’s plan and when management fail to specify these objectives, they are unsuccessful in establishing a sense of purpose for all within the firm inevitably leading to business failure. They are crucial as they create purpose for the plan and establish its significance, that being, giving a path and meaning to what the firm hopes to accomplish, and outlining the...
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...the organization’s goals • Establishing an overall strategy for achieving those goals • Developing plans for organizational work activities. – Types of planning • Informal: not written down, short-term focus; specific to an organizational unit. • Formal: written, specific, and long-term focus, involves shared goals for the organization. 2 Why Do Managers Plan? • Purposes of Planning – Provides direction – Reduces uncertainty – Minimizes waste and redundancy – Sets the standards for controlling 3 Planning and Performance • The Relationship Between Planning And Performance – Formal planning is associated with: • Higher profits and returns on assets. • Positive financial results. – The quality of planning and implementation affects performance more than the extent of planning. – The external environment can reduce the impact of planning on performance, – Formal planning must be used for several years before planning begins to affect performance. 4 How Do Managers Plan? • Elements of Planning – Goals (also Objectives) • Desired outcomes for individuals, groups, or entire organizations • Provide direction and evaluation performance criteria – Plans • Documents that outline how goals are to be accomplished • Describe how resources are to be allocated and establish activity schedules 5 Types of Goals • Financial Goals – Are related to the expected internal financial performance of the organization. • Strategic Goals – Are related to the...
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... | | |Policies | | |Resource Allocation | | |Managing Conflict | | |Matching Structure with Strategy | | |Restructuring, Reengineering, and E-Engineering | | |Linking Performance and Pay to Strategies | | |Managing Resistance to Change | | |Creating a Strategy-Supportive Culture | | |Production/Operations Concerns When Implementing Strategies | | |Human Resource Concerns When Implementing Strategies | CHAPTER OBJECTIVES After studying this chapter, you should be able to do the following: |1. |Explain...
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...appraising appropriate styles for situations, and contributing and discussing relevant expertise, liaising with and assessing professional colleagues, and managing and evaluating a supporting team. 4. Conduct internal research on HR-related problems at work, and communicate results effectively to colleagues and peers. Learning Outcomes: At the end of this course, students should be able to: 1. Explain what human resource management is and how it relates to the management process 2. Illustrate the human resources responsibilities of line and staff (HR) managers 3. Discuss and illustrate each of the important trends influencing human resource management 4. Describe important trends in human resource management 5. Explain why strategic planning is important to all managers 1|P age 6....
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...includes decisions regarding variable pay and benefits • It suggests an exchange relationship between the employee and the organization • It involves design, development, implementation, communication and the evaluation of reward strategy and process of the organization Compensation Objectives 1. 2. 3. 4. To reward employees’ past performance fairly, in line with efforts, skills and competencies To attract and retain competitive high performing employees To motivate the high performing employees and reinforce desirable employee behaviour To remain competitive in the labor market 5. 6. 7. To align employees’ future performance with organizational goals To communicate the employees their worth to the organization To provide employee social status • Strategic compensation – Using the compensation plan to support the company’s strategic aims. – Focuses employees’ attention on the values of winning, execution, and speed, and on being better, faster, and more competitive.. • IBM Strategic Compensation Planning • Strategic Compensation Planning – Links the compensation of employees to the mission, objectives, philosophies, and culture of the organization. – Serves to identify the net monetary payments made to employees with specific functions of the HR program in establishing a pay-forperformance standard. – Seeks to motivate employees through compensation. Compensation Policy Issues • • • • • • • • Pay for performance Pay for seniority Salary increases...
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...When it comes to developing strategic pay plans it is important to have a good understanding of some basic factors to determine pay rates. Employee compensation is “all forms of pay going to employees and arising from their employment” (Dessler, 2013, p. 352). According to Dessler (2013), it consists of both “direct financial payments and indirect financial payments.” As we explore the case study of Acme Manufacturing, we will see the salary inequities and the struggles that the newly appointed president, Joe Black, has to go through to fix those issues. In an article titled “Fair Pay or Power Play?” Shin (2013) reported that “pay inequity provides strong motivation for CEOs to restore equity.” For this case, I will identify some issues and recommend some plans to resolve the salary inequities in the Acme case. Some key issues that existed within Acme Manufacturing were: lack of individual equity, internal equity issues, no pay structure for salaried employees, and lack of legal considerations in compensation. Equal Pay Act of 1963 (EPA) “makes it illegal to pay different wages to men and women if they perform equal work in the same workplace.” (“Laws Enforced by EEOC,” n.d.). With the previous president, Bill George, salaried employees bargained their pay. Joe Black identified that there were female supervisors that were earning less than male supervisors. Ultimately the underlying issue was management failed to create a compensation plan that aligned with a reward strategy...
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...Assignment #1: Setting the Stage for Strategic Compensation and Bases for Pay Katilia Y. Reed Professor: Kristin Araujo BUS-409 April 30, 2012 1. Describe the three main goals of compensation departments. Internal consistency- Compares all jobs with in a company and defines the relative value of each individual job establishing job structure or hierarchy. This ensures that the workers are being paid in relative comparison to the amount of skill, knowledge, training and ability the worker has as well as in relation to the level of each needed to be applied in order to perform the jobs proficiently Job analysis and job evaluations have to be done systematically in order to determine the levels needed and the wage amount comparable to work amount. Recognition of individual contributions- Establishes pay structures and identifies pay rate differences for jobs of unequal worth and the framework or recognizing differences in employee contribution. This will help to ensure that employees are paid according to their credentials, knowledge or job performance. Pay grades and pay ranges are structural features to the pay structure. Jobs are grouped for pay policy application. There is no single formula to determine what is sufficiently similar in terms of content and value to warrant grouping in to a pay grade. Pay ranges build upon the pay grades establishing minimum, maximum, and midpoint pay rates. Market competitiveness- This is the aspect that attracts new employees as...
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...Question With respect to hypothetical Business Organisation, Develop strategic intent and implementation after critical analysis of the environment. Case Study: SS SECONDARY SCHOOL Strategy is a unified, comprehensive and integrated plan relating strategic advantages of the firm to challenges of the environment. The strategy designed to ensure that the basic objectives of the enterprise are achieved. Strategic business management refers to a set of managerial decision and actions that determine the long run performance of a business or corporation, which is basically a process of achieving organisational objectives, by establishing a framework to perform various processes and focusing on relating the organisation to its external environment, that there is continuous interaction between the organisation and its environment. There are various limitations to strategic business implementation which includes complex and dynamic environment, rigidity, inadequate appreciation of strategic business management, limitation in implementation and seldom corporate strategy. Strategic management process involves three stages which includes strategy formulations, strategy implementation and strategic control. Strategic intent which is part of strategic formulation involves establishing a vision, mission and long term broad objectives. It is a big hairy and audacious goal that set by the organisation to be achieved at a certain period, which stipulate the kind of environment an organisation...
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...About Labor Relations Labor relations can refer broadly to any dealings between management and workers about employment conditions. However, according to investorglossary.com “labor relations refer to dealings between management and a workforce that is already unionized, or has the potential to become unionized”. Labor relations are more crucial to industries such as autos and airlines where there are heavily unionized workforces. In 1935 the United States labor relations were greatly affected by the passing of the National Labor Relations Act (NLRA). This act gave workers the right to form unions and bargain collectively. Labor relations have also been importantly affected by passing of the Taft-Hartley Act in 1947. This act “equalized the effects of the National Labor Relation Act by defining and prohibiting unfair labor practices by unions” (Flynn, Mathis, Jackson, 2011, pg. 229). It wasn’t until 1974 the healthcare industry was included in the National Labor Relations Act. However, unlike other industries Congress felt there should be some stipulations of unions within the healthcare field. Of the stipulations the ten day strike notice was in effect. The ten day notice demanded that a union give healthcare employers a ten day grace notice before starting a strike. If the notice was not presented the NLRA would not protect the strikers which could leave them jobless. “The process of unionizing healthcare employees has been relatively unchanged since 1974…” (Flynn, Mathis...
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...1. What are some strategic considerations in establishing a pay structure for Nutriment? 2. Should Jack suggest a pay policy to lead, lag, or match the market? Explain your recommendations in terms of internal and external equity issues and why? 3. How can the company offer the right recruitment package to new hires without alienating the current work force, but attain the desired internal culture for today and tomorrow? When properly designed, compensation systems promote desirable employee behaviors, which are instrumental to the successful implementation of business strategies. In the Nutriments company case, the manager would have to improvise and prepare a complete pay structure that is formatted to the needs of each job description provided. The management also has to look into the demand of the specific position. As a result, good fit, or alignment, between an organizations business strategy and its compensation systems should lead to improved organizational effectiveness. To establish a complete compensation package, Nutriment’s HR management consultant, Jack Stewart, needs to start off with the strategic analysis. This would help show the organization’s strategic plan towards its vision and mission and allow the organization to set the path for its compensation strategy. Compensation systems in organizations in the high-technology industry are distinct from those in the other industries and the differences are related to the degree to which firms are research...
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