Performance Management Plan
September 29, 2014
TO: Bradley Stonefield, Proprietor, Landslide Limousines
FROM: Dorothy Maxwell
DATE: September 29, 2014
SUBJECT: Performance Management Plan
CC: Traci Goldman
Atwood and Allen have put together some recommendations based on your current business strategy to boost performance. We will be looking at the different subjects that come up with a performance management plan that the company will use to identify areas of improvement and expertise. We are aware that Landslide will be at -$50,000 in expected revenue for the first year and is planning for twenty-five employees. It is imperative that we come up with a strategy to maximize performance and minimize turnover rates. In order to do this, we will need to look at the subjects listed to define Landslide Limousine’s overall performance management plan.
Alignment of the performance management framework to the organizational business strategy
Performance appraisals play an important role in the overall objective of performance management. Performance appraisals serve as a tool to help employees develop their overall standards by helping them realize their full potential and provide information to employees and managers for decision making. Appraisals provide reasons employees change positions or if more training is needed or a promotion. It provides feedback to employees, to developmental needs and to also help spot organizational challenges. Using the management by objective (MBO) process establishes objectives that employees need to accomplish and set agreeable standards by both the employees and management. We suggest having immediate supervisors, self-appraisals and customer feedback to evaluate performance. Immediate supervisors are more familiar with the employees’ performance and are responsible for employment decisions. Self-appraisals give the employee the opportunity to rate...