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Case Study: Best Laid Incentive Plans - Essay Example

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The company manufactures different kinds of consumer durable. The company CEO is Keith Randall and the Chief Administrative Officer is Hiram Phillips. Hiram Phillips is also the Chief Financial Officer of…
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Case Study: Best Laid Incentive Plans
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Download file to see previous pages The frame also focuses on how the elements impact the organization.
In the company, there is performance metrics. This is a result of the company focusing more on customers that it does to the employees. The customers are given the first priority while the employees of the company are not given so much attention. The other metric in Rainbarrel Company is employee turnover. The company has a high percentage of employee turnover and thus incurring a lot of operational costs. The two metrics are as a result of poor leadership and management in the organization. Hiram, who was the Chief Financial Officer, had established the wrong metrics in the organization. The wrong metrics were on the side of customer service, shipping and Research and Development Department. On the side of the customer service, The CEO of the company never paid attention to the people and the customers. The company did not know how to improve individual performance. The company should have used intangible rewards in order to motivate its employees. The company would also have improve the performance by public recognition of the well performing employees, giving letters of recognition and giving a word of appraisal to the employees. The motivational tools are very effective and yet many organizations do not put in to use the tools. The company has various departments, among the shipping, department, Research and Development department and the Human Resource department. The departments are headed by different officials in the organization. The objective of the Rainbarrel Company is to build, sustain a high performance culture. The company’s mission is to establish performance metrics by sacrificing short term operations gains to long term success of the company. The company policy is to establish performance metrics which are focused more on the customers than on the employees. ...Download file to see next pagesRead More
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