Hrm 531 - Performance Management Plan

Performance Management Plan

Shyam Sunder Bansal

HRM/531

Sep 21, 2014

James Foote

Performance Management Plan

Bollman Hotel chains currently located in Minneapolis, Minnesota and now have a strategy to enter in the international market. The first destination for the international market to start with is India. This hotel chain current employee's strength is clocking to Approx. 25000 and expecting to employ more 5000 for new hotels in India. Bollman Hotel's current annual net revenue is $100,000,000.00 and expecting 15% additional revenue for the first year coming from a new country which accounts Approx. $15,000,000.00. As per industry standard and other factors, Bollman hotels are also braced with employee turnover rate of 5% and expecting to maintain same turnover rate. As we entering in a new country; India, The largest democracy in the world with altogether a separate business environment, culture, values, employees and customer expectation than USA. Our performance management framework must be as per norms and expectation of the new country, but same time aligning with our corporate strategy and Bollman hotels mission, vision and values.

Performance Management Framework

Hotels are the major component of leisure's or business travel. Hotel earnings based on primarily serving customer through well maintained rooms, In-rooms service, entertainment, restaurants and pub services. Since our performance management plan based on the organization objectives of exceptional hotel and customer services. It must also help and encourage individuals to understand clear role and responsibilities and perform duties in order to achieve individual and organization objectives. According to (Neetu Yadav , Mahim Sagar , 2013.) “There is a very limited mechanism available to help transform information into value-adding activities for the organization. Therefore, organizations need PMS to align performance targets and measures with company's vision and objectives, and to provide feedback on the existing measures and make corrective actions when required. The cause-and-effect relationships, feedback loop learning and systems approach can be some of the remedies which can help to make double loop learning and thus develop an effective PMS” Planning, coaching, and Appraisal are the key component of Performance management framework.  

Planning: This activity help organizations in aligning resources with organization objectives and strategies by utilizing scarce resources in regards to man, money and material. As part of this component, we setup clear expectation and objectives for each based on roles and responsibilities and providing right tools and technology required to perform jobs. Individual's objectives needs to decide between manager and employee with a clear path of contribution towards organization objective. Recruitment process must be closely linked with Organization goals, mission, and vision along with India culture, statuary law and values.