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Pages:
2 pages/β‰ˆ550 words
Sources:
3 Sources
Style:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
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MS Word
Date:
Total cost:
$ 8.64
Topic:

Link Between Compensation and Evaluation to Organizational Objectives

Essay Instructions:

Demonstrate college-level communication through the composition of original materials in Standard English.
Introduction: A company’s mission, vision, and values must be aligned with the company strategy. Then each of the functional areas of the company has its own strategies that align with the overall company strategy. In this assessment, you will explain how a company can link its compensation and performance evaluations to the organization’s innovation objectives and strategy. Read the case study below and respond to all the checklist items.
Case Study: Evaluations, Compensation, and Firm Objectives
Braintrust Toys is a toymaker that has as its mission, “Our purpose is to expand the minds of children 1 month–100 years old.” Currently, they use a product development strategy but believe that maybe they need to orient their company towards an innovative strategy.
Their current objectives are to:
*Invent 10 new toys every year and reinvent at least 10 more.
*Increase revenues by 15% per year.
*Employ motivated and committed workers.
*Provide safe and intellect-expanding toys for everyone.
Braintrust Toys has operated as a medium-sized company for about 20 years. Their compensation to date has been based on longevity at the company. The employee evaluations were performed by their managers after reviewing their results based on their influence on (1) increased department product output (75%), and (2) increased department sales (25%) at the end of the year. With the increasingly mechanized and digitized toys, and now robotics involved in toy making, many employees have been let go or offered early retirement due to their obsolescence.
The new objectives in line with the new innovation strategy include:
*Enhance attributes and convenience in at least 20 existing products.
*Launch at least 15 new products that appeal to new customers and new markets.
*Develop five new markets.
*Hire personnel that thinks innovatively.
*Hire diverse support personnel and designers who are customer service oriented to support new products and markets.
The 200 remaining employees are beginning to worry, and feel their compensation and evaluation process needs an overhaul.
Checklist:
*Explain how Braintrust can link their compensation and evaluations to the company’s new objectives and innovation strategy. Describe how compensation and evaluations work together to help the company achieve its new objectives and innovation strategy.
*What methods of performance evaluation might they use?
*Explain your reasoning for using the methods of evaluation you chose.
Disclaimer: The organization and characters depicted in this exercise are fictional. Any resemblance to real organizations or individuals is purely coincidental.
The paper should be a minimum of 2-page Microsoft® Word® expository essay in APA format and citation style with additional title and references pages.
Make sure your paper is logical and insightful using correct Standard English spelling and grammar.
Ensure there is an introductory paragraph, each paragraph has a minimum of 3–4 sentences, and a closing paragraph is provided.

Essay Sample Content Preview:
The Link Between Compensation and Evaluation
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The Link Between Compensation and Evaluation
Braintrust is a toymaker organization that designs, manufactures, and distributes toys for its customers: households with children or organizations providing daycare services, including schools. The organization's mission statement is to expand children's minds for 1 month-100 years. For the past 20 years, the organization has relied on a product development strategy. The company, however, is looking to align with customer demands and the business environment that has called for a change in business strategy. As a result, there is a need to establish how the transition will highlight the links between compensation and performance evaluation. Current employees worry that the new business strategy will leave them jobless or underpaid.
Current Situation & Proposed Solution
Braintrust's current objectives include the invention of at least ten toys and reinvention of another ten annually based on the current business model, increasing revenues by 15% annually, employing and retaining committed workers, and producing intellect-expanding toys. Based on these objectives, managers evaluate employee performance based on their impact on increased departmental output (75%) and increased department sales (25%), while compensation is based on longevity at the company. However, increasing mechanization and digitization in toy-and-products forced the organization to lay off some employees while offering others early retirement because of their obsolescence. This situation threatens the organization's competitiveness, especially from an innovation point of view.
The proposed solution is for Braintrust's leadership to adopt an innovative strategy. Within this strategy, the innovation strategy must be aligned with the new objectives, which include enhancement of convenience and attributes in at least 20 current products, launching at least 15 new products annually, developing new five markets, hiring innovation-oriented personnel, hirer a diverse staff with a focus on customer satisfaction....
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