Implementing a Performance Management System for Reevenrs; Group project

Summary

Group one presents a comprehensive performance management and reward system designed for reevents, an NYC-based event planning company focused on sustainability. The team of graduate IO psychology students outlines a process that includes job analysis for key roles, custom performance appraisal forms, and a reward system aligned with reevents' values. They emphasize the importance of intrinsic motivators, tailored rewards, and a culture of collaboration and fairness. The proposed system integrates performance-linked rewards, competitive compensation, and a profit-sharing scheme to support employee engagement and organizational growth.

Takeaways

• 😀 Performance management is a continuous, dynamic process aimed at improving individual and team performance, ensuring alignment with organizational goals.
• 😀 Reevents is a NYC-based event planning company focused on sustainability and using events as a tool for environmental education.
• 😀 The performance management system designed for Reevents was tailored to their values and operational realities, considering both their mission and organizational culture.
• 😀 The team behind the performance management system consists of four graduate IO psychology students with diverse backgrounds in event planning, finance, HR, and management.
• 😀 A detailed job analysis was conducted for four key roles: Head of Events, HR Manager, Event Coordinators, and Executive Assistants, focusing on responsibilities, skills, and success criteria.
• 😀 Supervisory roles (Head of Events and HR Manager) require leadership, communication, legal knowledge, and a mix of quantitative and qualitative performance evaluations.
• 😀 Non-supervisory roles (Event Coordinators and Executive Assistants) are evaluated based on behavior (professionalism, communication) and results (client satisfaction, deadline adherence).
• 😀 Performance appraisals for each role were customized with behavioral anchor rating scales (BARS), minimizing ambiguity and including specific examples for actionable feedback.
• 😀 The reward system integrates intrinsic motivators like autonomy, mastery, and purpose, aligning with Reevents' values of collaboration, fairness, and sustainability.
• 😀 The proposed reward system includes performance-based compensation, additional paid time off for high performers, professional development opportunities, and a profit-sharing scheme.

Q & A

What is the main objective of performance management in an organization?

Performance management is a continuous, dynamic process aimed at improving both individual and team performance. It ensures everyone in the organization is aligned with its goals and moving in the same direction.

Who is the team behind the performance management and reward system proposal for reevents?

The team consists of four members: Marine, Chance, Bey, and Adrien. They are graduate IO psychology students specializing in understanding workplace dynamics and designing systems to enhance productivity and employee well-being.

What is the mission of reevents, the company the proposal is designed for?

Reevents is a NYC-based event planning company with a strong focus on sustainability. Their mission is to make each event as close to 100% sustainable as possible, using events as a vehicle for environmental education.

Why was job analysis important in developing the performance management system for reevents?

Job analysis was crucial because effective performance management and rewards rely on a clear understanding of each job's core duties, responsibilities, and what success looks like in each role. This helps design an aligned and effective system.

What are the four key roles analyzed for the performance management system at reevents?

The four key roles analyzed were: head of events, HR manager (supervisory roles), and event coordinators, executive assistant (non-supervisory roles).

How are performance evaluations for supervisory roles like head of events and HR manager structured?

For supervisory roles, performance evaluations focus on both quantitative outcomes, such as client satisfaction and financial accountability, and qualitative feedback, such as leadership skills and people management.

What is the significance of including behavioral anchor rating scales (BARS) in performance appraisal forms?

BARS helps minimize ambiguity by clearly defining performance levels. It also includes sections for specific examples and anecdotal evidence to make the feedback more concrete, actionable, and objective.

How does the proposed reward system align with reevents' culture?

The reward system is designed to align with reevents' culture of collaboration, fairness, sustainability, and employee well-being. It includes both intrinsic motivators, such as autonomy and purpose, and extrinsic rewards like performance-based bonuses.

What are some of the key rewards in the proposed system for high-performing employees?

High-performing employees will receive additional paid time off, opportunities for personal and professional development, and access to company-funded skill-building programs.

What is the profit-sharing scheme introduced in the proposal?

The profit-sharing scheme allows all employees to share in the success of the company, promoting collective focus on goals like efficiency and sustainability. It aligns individual efforts with the company's overall objectives.