Landslide Limousines Performance Management Plan

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Landslide Limousines Performance Management Plan Jessica Steele HRM 531 February 17, 2014 Rosie De Cosmo Introduction Performance management is a critical key component to the success of an organization. The purpose of this report is to suggest a performance management plan for Mr. Bradley Stonefield, owner of Landslide Limousines, a small service business located in Austin, Texas. According to Mr. Stonefield, in the first year he expects net revenue of $50,000 with a 5% net revenue increase for the first couple of years in addition he plans to employee 25 people and is predicting a 10% turnover rate. The performance management plan developed for Mr. Stonefield will cover the following areas; alignment of the performance management framework to the organizational business strategy, organizational performance philosophy the job analysis process to identify the skills needed by employees, methods used for measuring the employee's skills, process for addressing skill gaps and an approach for delivering effective performance feedback. The Organization and Performance Management Organizational management refers to the company's business plan; performance management refers to how the employees within the organization carry out the day-to-day operations. Organizational management and performance management should align with one another. The organizational management tool I am suggesting for Landslide Limousines is a balanced scorecard. “A Balanced Scorecard defines what management means by "performance" and measures whether management is achieving desired results. The Balanced Scorecard translates Mission and Vision Statements into a comprehensive set of objectives and performance measures that can be quantified and appraised” (Kaplan, 2005). The scorecard will measure 4 areas: Financial performance, this will ensure Mr. Stonefield has a way to measure

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