Business Plan Assignment Example | Topics and Well Written Essays - 1250 words - 1

Business Plan - Assignment Example Issues raised by the survey The fact that the person who conducted the survey, Paul had previously worked as Director of HR for Utiliscan and later moved to Plasted as HR Director, is very revealing that there is an issue of lack of professional advancement in the company. Interpreting the issues that were raised by the survey, a close examination would reveal that they were in fact interrelated as employees perceive that the lack of performance reviews to be the root of other issues that include lack of opportunities to improve their skills and therefore, no opportunity to be promoted. Moreso, the employees also thought that since there is no performance review, it will not matter how they perform because they will be receiving the same pay regardless of how they do their job. This caused the employees to feel despondent because they see their jobs as career dead ends without any prospect of getting better nor advancing in the career ladder nor an increase their pay. Such that it wi ll not be surprising that employees will leave the company at the first sign of opportunity as attested by its former HR Director and the very person who conducted the survey. ... Second, there is also an opportunity cost associated to it and also when waiting for the new employee learn the job. And lastly and worst, the skill of the previous employee which has been acquired from the company is transferred to its competitors with minimal cost to the competitor such as the case of Paul, the former HR Director. If the current exodus of employees to competitors will not stop, Utiliscan will inevitably lose its valuable knowledge base to its competitors through its lost employees and that could mean losing the business in the long run. Solution The solution to the root of the problem is the implementation of performance management and making the job interesting so that employees will be more motivated to work. Performance management is the procedure or method used in evaluating the performance of a certain employee for a given period of what the employee has done or how productive he or she is. It is also the process of obtaining relevant information about an empl oyee and determining its worth to the organization by analyzing the given information. The analysis of an employee’s performance involves its recent accomplishment in the organization, its deficiency, strengths and weakness to determine whether the employee is suited for promotion or needs to be retrained. It also serves as a feedback mechanism to immediately solicit information from the employees about their jobs so that management can quickly respond to them. Included in performance management is career-pathing where employees can see where their careers will be going if they are going to do well with respective jobs. Performance management can also address the issue that 87% of the employees think that there were no promotion opportunities. Performance appraisal, a