'Employee Performance Essay\r'

'The attend to of producing an environment in which individuals can practise duties to the opera hat of his or her ability is known as proceeding direction. The processes of execution forethought start when the familiarity requires an employee to perform a specific and ends when an employee departs from the organization (Heathfield, 2013). At Riordan Manufacturing thither atomic number 18 some(prenominal) important berths that depend on the public presentation management system to vouch that employees get hold of fellowship tick goals and objections. Riordan Manufacturing work management systems ar actually important.\r\nThe twain positions chosen by team up D to discuss in this paper ar the node renovation rep and promontory fiscal officer. police squad D will describe the superior general function of performance management systems, suggest two stock evaluation orders for the positions, suggest two business evaluation modes for all(prenominal) posit ion, and forge the advantages and disadvantages of the methods concerning each position. Team D will in any case comp atomic number 18 and line of credit possible compensation plans for the two positions and explain the enormousness of providing employee benefit plan to the customer service rep and chief fiscal officer positions at Riordan Manufacturing.\r\n universal Function of Performance Management\r\nRiordan Manufacturing expends performance managing systems that imply annual cover modifications based upon performance, along with employee credit programs. Riordan’s determines the familiarity’s annual pay changes by the position in relation to the immaterial market, along with performance expectations set by the company. The performance expectations fall into tether categories, which are does non meet, meets, and exceeds. growth in pay is always a motivator for increasing performance and productivity among employees. Riordan Manufacturing also offers three kinds of puritys/programs for their employees under their performance management systems. The company offers an big(p) employee award once a year. Riordan’s management and employees nominate mettlesome performance employee who have achieved high rating in employee performance. The company’s commission of executives reviews the candidates selected and presents the winner with the intimately outstanding employee’s award.\r\n ace qualification is modeling respect for diversity, which is something that Riordan is serious about. Riordan rewards the grade the company has in the morals of employees. The other award given by Riordan is the higher(prenominal) status award. The company gives these awards to employees as he or she complete shareer milestones at one year, fifth year, tenth year, and 20th year. Although the seniority award is non monetary, it is important for the employees to notice that Riordan is noticing their subjection and contri justion s to the company. The last program offered by Riordan under their performance management systems is the employee suggestion program.\r\nThe company gives this reward to employees when he or she make suggestions for products put into place. The employees receive a $25 check and their picture in the company newsletter; although this does not measure the staff’s daily performance it does motivate them to make contributions for the bully of the company. Using performance management systems helps Riordan enjoin the employee’s performances and motivates each employee to work as a team. For ex international amperele, utilize the annual pay adjustments it would becoming apparent to Riordan executives that employees were not doing their bloodlines if they rated â€Å"does not meet” for two years in a row, it would be time for a face-to-face.\r\n work Evaluation Methods\r\nRiordan Manufacturing periodly employs 550 employees. The company has positions ranging from pr oduction to chief legal counsel. The company takes pride in displumeing passing do employees. Each position at Riordan plays a vital role to the company’s success. Therefore, company expects each employee to focus on achieving the company’s mission and goals. Many of the company’s transmission line functions performed by employees assist Riordan in maintaining a rivalrous advantage on the market. Two important positions held at Riordan Manufacturing are the customer service representative and the point Financial ships officer. The customer service is one of the much faces of Riordan as the employee interacts directly with the customers of Riordan. The Chief Financial Officer takes on the responsibilities within Riordan and directs the human imagings functions along with the financial operations. The customer service representative is a of import position that would work well with the mixed bag method.\r\nThe classification method works well with orga nizations that have several(prenominal) locations or many employees. Therefore, Riordan classifies each customer service representative with other similar agate line matter or classes. The advantage of using the classification method is that it will allow Riordan to organize easily the many positions along with establishing a compensation package for each position based upon their classification. Some of the disadvantages whitethorn complicate several positions appearing to fit in more than one class or the classifications may depend biased or subjective judgments. With the chief financial officer (chief financial officer) possessing a more critical position and role within the company, the ranking method may also be beneficial to Riordan.\r\nThe ranking method for job evaluations is quite simple and in most instances inexpensive. This can often reduce the money worn-out(a) on implementing strategic techniques and be applied in other areas of Riordan such as company improvemen ts, or employee rewards. The disadvantage of the ranking method is that it can be subjective or rely heavily on a person or group of passel to determine the worth of each position. There are several job methods used to perform job evaluations; however, it is essential for Riordan or any organization to determine which one will most suites the company and assist in its success.\r\nCompensation Plans\r\nIt is important to have competitive and pull backive compensation plans to ensure that Riordan attracts highly qualified employees. There are many survivals or approaches to use with compensation plans. The employee’s position often dictates what fictional character of compensation plan he or she receives. For a customer service representative (CSR), compensation plans may imply a basic wage body structure along with a moral excellence pay incentive. With merit pay, the CSR receives an increase in pay based on a share (DeCenzo & Robbins, 2007). Employees who perfor m die typically receive a greater percentage increase. Another option is a pay-for performance program. This option uses performance measures to determine the employee’s pay rate and not just time spent on the job.\r\nEach employee’s pay rate depends on his or her individual, team, department, or organizational productivity (DeCenzo & Robbins, 2007). Both of these compensation plans are effective but some employees may worried about not knowing what his or her pay rate is forrader of time in the pay-for-performance program. The compensation plans for the CFO are different from those provided for CSR’s. As an executive member of Riordan, the CFO’s salary is substantially higher than the lower-level employees. For example, the current Riordan CFO, Dale Edgel, received an annual salary of $125, 00 with the ability to seduce up to 30% of his salary in executive bonuses (Riordan, 1999).\r\nCompensation plans for executive employees are considerably high er because of his or her level of responsibility. That responsibility not exclusively provides the executives with higher salaries but also compensation plans that include stock option plans. decision maker compensation plans serve the same purpose as those used from lower-level employees. Executive positions typically require specialized or innovational education and employees who meet those requirements can be very selective when choosing a job. The compensation plans for those positions must be very attractive to appeal to those individuals.\r\nImportance of Employee Benefits\r\nRiordan envision that benefits are essential in today’s workforce to retain current talent and attract new high-level talent. Riordan has benefit packages required by law, such as Social Security, Workers’ Compensation, Unemployment Compensation, and FMLA. The company also offers vacation benefits, 401k plans, childcare assistance plan, dental, educational assistance, flextime scheduling , and holiday pay to attract and retain employees. The company offers these benefits to regular employees when hired into the company, and he or she can pass more perks as tenure at Riordan grows. Riordan understands that employees affect a benefit package that promote a work life balance, the ability to take care of his or her family in case of a medical examination emergency, and to plan for his or her future.\r\nWhether the employee is the CFO or a CSR the benefit package does not change. Employees who mean a company is willing to take care of him or her makes job satisfaction and employee engagement much easier to achieve. Furthermore, employees who believe he or she is capable of advancing his or her career and the company paying for it helps entry-level employee. The company encourages customer service rep to believe that he or she has a future in becoming a future chief financial officer.\r\nRiordan provides Education avail Programs to help employees grow a skill set t hat relates to his or her role in Riordan. Although it does not stock-purchase warrant advancement, it does promote engagement and sustain performance for the company’s staff. Riordan commits to making each employee know he or she is a value to the company from the give-up the ghost of the company to the entry-level jobs. The company understands that providing benefits in today’s economy is important in attracting the most knowing and motivated individuals and believe the company’s start of benefits help accomplish goals and promote a sanguine work environment.\r\nConclusion\r\nRiordan Manufacturing recognizes the processes of performance management are essential in today’s on the job(p) environment. Riordan Manufacturing Corporation’s process of performance management will assist the company in enhancing employee job satisfaction and commitment. Riordan Manufacturing used various job performance methods for each individual job position the c ompany. These job performance methods help the company to maintain financial strength and promote employee growth. Riordan performance management’s process also includes an attractive compensation, employee benefits plan to attract highly qualified employees. Using this process is what helps Riordan Manufacturing ensure employees achieve company goals, and objections, and sustain the company’s employee job satisfaction.\r\nReferences\r\nDeCenzo, D., & Robbins, S. (2007). Fundamentals of human resource management (9th ed.), retrieved from The University of Phoenix eBook Collection database. Heathfield, S., 2013, Performance Management, Retrieved from http://humanresources.about.com/od/glossaryp/g/perform_mgmt.htm Riordan, Michael (August 15, 1999) Retrieved from https://ecampus.phoenix.edu/secure/aapd/CIST/VOP/Business/Riordan/docs/HR/EmpFiles/Dale%20Edgel%20Offer%20Letter.pdf\r\n'