Performance Management System and Total Rewards Plan for Weavertech

1756 Words Jun 18th, 2016 8 Pages
Performance Management System and Total Rewards Plan for WeaverTech
Southern New Hampshire University OL 600 Strategic Human Resource Management

INTRODUCTION
Due to the acquisition of WeaverTech formally known as Johnson-Ware an apparel company by CVX Partners, a private equity firm, there arose a need for the company to change its line of business to high-end segment of the apparel industry (Beer & Swier, 2015). Before the acquisition of the company by the new owners, WeaverTech was a closely owned family entity that had been formed in 1905. Before the proposal to change the company customer base, the company exclusively relied on the military (70%) and security (30%) as the only customers for the
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In addition, there is need for constant feedback, development and collaboration, teamwork and communication (Chand, 2015). Consequently, this will require to update workers both at individual level and group level of the progress made so far and what is needed to be done to achieve the goals and objectives that have been put in place. Such strategy should be accompanied with elaborate reward and compensation that not only emphasizes on quantity but also quality and creativity.
Performance Appraisal Methods that are Applicable to WeaverTech
Several appraisal methods can be used to evaluate employees at WeaverTech. The Graphic Rating Scale Method can be used as it is simple but effective at the same time. Management by Objectives (MBO) can also be applied since in this method the superior and the subordinate managers of an organization formulate the goals jointly and then the employee will be assessed using this predetermined objectives (Holley, Jennings, & Wolters, 2011).
Legal and Regulatory Issues to Consider with Regard to Performance Management Methods
Some of the legal issues that WeaverTech should consider while undertaking performance management include avoidance of abusive or wrongful appraisal of employees, consideration of equal employment opportunities in the case of hiring and

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