Performance Management Plan
Derrick Meaderds
HRM/531
August 24, 2015
Jim Scholes
Performance Management Plan
In order for Landslide Limousine to succeed is to have a performance management plan in place. I will be putting together some recommendations based on your current business strategy to increase performance. I will be looking at the different topics to come up with a performance management plan that the company will use to identify areas for improvement and areas of expertise. I know Landslide Limousine will be at a -$50.000 in expected revenue for the first year and is planning on 25 new employees. It is imperative to come up with a strategy to maximize performance and minimize turnover rate to ten percent or less. In order to do this, I will need to look at the topics listed to define the companies overall performance management plan:I will be putting together some recommendations based on your current business strategy to increase performance. I will be looking at the different topics to come up with a performance management plan that the company will use to identify areas for improvement and areas of expertise. I know Landslide Limousine will be at a -$50.000 in expected revenue for the first year and is planning on 25 new employees. It is imperative to come up with a strategy to maximize performance and minimize turnover rate to ten percent or less. In order to do this, I will need to look at the topics listed to define the companies overall performance management plan:One of main purpose of having a performance management plan is to outperform your competition. You are starting your company for the ground up and there are many other limousine companies in Austin, TX. You are expecting -$50,000 net revenue the first year and 5% revenue growth in the next couple years. You plan on having 25 employees the first year and you are predicting a 10% turnover rate. I have some recommendations to get you moving forward on making your...