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JVA Corp. February 3, 2012 JVA Corporation has manufactured wireless technologies such as cellular phone, walkie talkies, intercoms and GPS units since 1995. Within that time JVA has grown to 17 acres of land and totaling 3 million square feet of warehouses, factories, offices, exercise room, etc. Due to JVA past success, the employees became accustomed to the amenities that this workplace has to offer. During the recent economic crisis that our country has faced, JVA Corp. has suffered from a net loss of $53 billion which is a 17% loss in the last fiscal year. As JVA HR Director, my team of consultants has reviewed the cost of all additional compensation programs that is offered by the company that exceeds the current base…show more content…
I propose that JVA Corp to eliminate most; if not all; of its wasteful expenditures which include to the compensation packages. The compensation packages includes many benefits such as a variety of discount on cell phones, gym memberships, home and auto insurance, and JVA Corp. credit cards as well as discount tickets which will be effective immediately. We are urging for all employees; including management; to take part in the cost cutting efforts. JVA Corp will need to make necessary changes to the guidelines for performance management and this will happen company wide. Performance management is a continuous process that consists of three steps: * Defining acceptable employee performance * Facilitating employee performance * Encouraging employee performance. JVA Corp will be restructuring and merging some department within the company. By doing this, duplication, redundancy, and administrative costs can be reduced without significantly reducing services. This will saves JVA Corp millions of dollars in man hours and resources. All salaries increases will be temporarily frozen due to the economic crisis; includes all (150,000 domestic employees and all international employees). JVC will begin to assess all employees’ wages for salary increases at the beginning of the new fiscal year. All managers will continue to give reviews and performances
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