Performance Management System and Total Rewards Plan for Weavertech

1736 Words May 27th, 2016 7 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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However, a number of flaws in the current performance system that may have to be rectified include; the recent decrease in the amount of bonuses of senior managers relative to hourly employees as it is demotivating, the fact that at least 20 percent of the workforce are not satisfied with the current system says a lot, and revelations that individual performance deficiency and decline of knowledge and skills over time shows that the company does not give room for creativity (Beer & Swier, 2015). Finally, the lower score that planning, budgeting and focusing was given shows that the particular managers under this obligations are incapable of delivering.
How the Performance Management System could be changed to Enhance WeaverTech Organizational Strategy, Mission and Support for Employees
Since the company has consistently produced high quality and high performance apparel that has commanded high price from the primary market, the US Navy, the company needs to make slight changes in order to achieve and enhance its organizational strategy, mission and support for employees. With organizational strategy, and mission, the company should make the change from to high-end apparel industry gradually without creating much implications on its commitment to employee welfare. For instance, instead of retiring the existing workforce, the company can actually expand operations so that the primary market share remains constant while opportunities in the high-end cloth market
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