CASE STUDY ANALYIS Premiumsoft Essay

1592 Words Apr 17th, 2015 7 Pages
CASE STUDY ANALYIS: PREMIUMSOFT

BY: SWATI SHARMA
MBI 620
Date: March 15, 2015

SUMMARY

This Case Study analysis is aimed at understanding, analyzing and evaluating the challenges that PremiumSoft is facing: there are two major challenges: Recruiting and retaining talented Individuals and maintaining the current work culture environment with growing staff PremiumSoft is a company that provides Software solutions. Lin and Roy Choi primarily founded it as a Web design company in year 1999. However this web design company provided the seed money to grow it into a software development company. PremiumSoft’s main software solutions are “Navicat” and “ Navicoder”. Navicat was launched in 2001 as a database tool that manages
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Work responsibility was built in employees as result of mutual trust and loyalty. Extremely competitive compensation package was provided to the employees along with one-month bonus after a year of employment. Team building and independence in time management for their employees was a part of company culture in order to retain and manage the creative staff. As stated by Lin, PremiumSoft had extremely low turnover rate of 10% over five years, which suggest PremiumSoft was very well able to retain its staff for a long period of time. Staff evaluation and compensation were not done in a systemic manner rather PremiumSoft had informal evaluation of its employees because of closely connected company culture and small company size. At the same time PremiumSoft showed little tolerance for bad work ethics and discipline issues, such employees were given a warning followed by official warning letter, after which they were let go.

Challenges to Overcome
As we have presented before the two major challenges that PremiumSoft was facing were Recruitment and retaining of talented staff and maintaining the work environment with growing number of staff.
1) Recruitment and retaining of talented staff
In response to the growth and expansion of PremiumSoft, recruitment at PremiumSoft was the prime agenda. The current recruitment process at premium Soft was fairly limited in approach yet effective. They were only

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