Staffing, Performance Management & Compensation Report
Staffing, Performance Management & Compensation Report
Executive Summary
This report was generated to assist American Express in visualizing how the use of internal recruitment to fill vacancies of higher-level positions by linking the staffing, performance management, and compensation plans. How these links can further strengthen the organizational culture by being internally aligned with the vision of employing the most superior and dedicated staff. The research findings will show that when an employee has a clearly defined career path, they inevitably become more dedicated and motivated to achieve common company goals and standards.
To ensure successful transition to an internal recruitment policy, Team Fabulous will be recommending the following: * Adopt new hiring and progression policies. * Implement new appraisal training programs. * Adopt use of new performance appraisal forms that include employee self-appraisals and individual development plans. * Adopt a new compensation structure.
Analysis of the vast information that was gathered has indicated that the proper use of a comprehensive performance management system provides both intrinsic and extrinsic rewards which results in a higher level of motivation for current employees and makes employment attractive to prospective employees.
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Table of Contents
Letter of Transmittal i
Executive Summary ii
Introduction 5
Purpose 6
Methodology 6
Findings 7
Career Pathing 7 Career Pathing through Performance Evaluation/Advantages 8 Job Analysis 9 Job Descriptions 9 Hiring Policies 10 Progression Policy 11 Performance Management System 12 Performance Appraisal 13
Appraisal Training 14 Compensation Analysis 15 Compensation Structure 16 Conclusion 18
References 19
Executive Summary
This report was generated to assist American Express in visualizing how the use of internal recruitment to fill vacancies of higher-level positions by linking the staffing, performance management, and compensation plans. How these links can further strengthen the organizational culture by being internally aligned with the vision of employing the most superior and dedicated staff. The research findings will show that when an employee has a clearly defined career path, they inevitably become more dedicated and motivated to achieve common company goals and standards.
To ensure successful transition to an internal recruitment policy, Team Fabulous will be recommending the following: * Adopt new hiring and progression policies. * Implement new appraisal training programs. * Adopt use of new performance appraisal forms that include employee self-appraisals and individual development plans. * Adopt a new compensation structure.
Analysis of the vast information that was gathered has indicated that the proper use of a comprehensive performance management system provides both intrinsic and extrinsic rewards which results in a higher level of motivation for current employees and makes employment attractive to prospective employees.
ii
Table of Contents
Letter of Transmittal i
Executive Summary ii
Introduction 5
Purpose 6
Methodology 6
Findings 7
Career Pathing 7 Career Pathing through Performance Evaluation/Advantages 8 Job Analysis 9 Job Descriptions 9 Hiring Policies 10 Progression Policy 11 Performance Management System 12 Performance Appraisal 13
Appraisal Training 14 Compensation Analysis 15 Compensation Structure 16 Conclusion 18
References 19
References: 100 best companies to work for. (2010). Retrieved from http://money.cnn.com/magazines/fortune/bestcompanies/2010/snapshots/73.html About American express American express salaries. (2012). Retrieved from http://www.glassdoor.com/GD/Salary/American-Express-Salaries A more rewarding way to work Call center team lead. (2012). Retrieved from http://jobview.monster.com Career pathing Grote, D. (1996). The Complete Guide to Performance Appraisal. New York: Amacom American Management Association. Henemann III, H. G.-M. (2012). Staffing Organizations Seventh Edition. New York: McGraw-Hill Irwin. Hourly rate for customer service representative. (2012). Retrieved from http://www.payscale.com/research Milkovich, G Performance appraisals as career development. (2012). Retrieved from http://appraisals.naukrihub.com Richardson, M Salary for discover financial services llc employees. (2012). Retrieved from http://www.payscale.com/research Salary for visa,inc Salary wizard. (2012). Retrieved from http://salary.com