Performance management
Performance management is crucial for an organization going through transition especially since employees are the most affected. Most of the employees are undergoing a career crisis since most them have to adjust personally and professionally to the new work environment, an obligation that is not that easy but has to be implemented if one wishes to keep their job. BP Oil on the other hand, has the mandate of helping their employees in the transitional period since the employees need some time to adjust to their new working environment. It is for this reason that the management of the organization is mandated to practice efficient transitional management otherwise it will lose many employees both skilled and none skilled
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Ideal performance determines the progress being made by and organization in its attempts to meet its organizational goals. BP has to conduct performance management on its new stake holders and staff to ensure maximum output and profitability in the organization since it ensures that the employees are working towards the achievement of organizational objectives which is essential. According to the Australian Human Resource Institute (2016), BP can do so by planning, establishing, monitoring, reviewing and evaluating itself, its talented workforce and the individual performance of each employee in the firm. The issues that BP’s performance management will incorporate include remuneration of employees, their training and development, disciplinary procedures and counseling, job planning, compensation and incentives. The constituents of performance management give a framework in which the employees operate (University of Carlifornia, 2016). In the transitional phase that the firm is undergoing, the human resource department at BP Global can decide to implement the following performance management system to ensure efficient service delivery in the …show more content…
BP oil has the mandate of overseeing effective implementation of the approaches to limit the career crisis likely to occur in the transition process. Some employees are likely to question Akber and his son on whether they made the right call by accepting to be acquired by a multinational company leading to change of the organization’s structure. They might disapprove the move to protect their own interests especially on their salaries and the incentives they were receiving at the organization. The new model of the organization might have some limitations that might not favor the employees thus making them become hostile. In case the employees have a trade union, it can champion for equal or fair working conditions at the new firm. To avoid any controversies with the employees, BP’s human resource officials have to ensure that they convince the employees that the move made by the firm is the best and that they have better chances working in the new organization than the previous
In 2010, there was a huge oil spill near the Gulf of Mexico that we now know as the BP Oil Spill today. The Spill sent about 170 million barrels of crude oil into the Gulf of Mexico. The spill killed 11 men aboard the deep-water Horizon. The BP Oil Spill impacted the environment very negatively. There were different types of environmental impact as a result of the Oil Spill, but the two that grabbed my attention the most are the Polluted Air and the Contaminated Food Chain. The first impact that grabbed my attention was the Polluted Air. Because of the Oil Spill, the air around the surroundings neighborhoods was polluted. All the lightest chemicals in the oil that had spill evaporated within hours of the incidence forming air pollution particles. These particles that are in the air poses significant threats to the human health from being inhaled. The chemical found in the particles that was formed is known as Volatile, which has been known to cause respiratory irritation and central nervous system depression (Solomon & Janssen, 2010). The second impact that grabbed my attention was the contamination of the food chain, specifically the food chain of sea animals that lives near the Gulf of Mexico. Scientists found traces of oil in zooplanktons; this could only mean that the sea creature has had contact with the spilled oil. According to the Staff at Houston Business Journal (2012), “Baby fish and shrimp feed on the tiny, drifting zooplankton, and then introduce contamination and pollution to the larger sea creatures in the food web.” With these findings, it isn’t going to take long before the baby fishes become grown and caught by fishermen and before we know it, it’s on our dinner plate. And here we are eating fishes w...
In April 2010, KK BB, the CEO of Marshall & Gordon, a leading public relations firm met with the firm’s leadership committee off-site in Miami. This off-site brought together Marshall & Gordon’s executive committee, practice and regional heads, and senior HR officers to discuss on redesigning the firm’s compensation system. A global advisory taskforce, under the direction of an external consulting firm, had spent three months collecting and analyzing data. Marshall & Gordon hired external specialists to design the new performance management program. The specialists proposed that the senior managers and human resource form a global advisory unit together with Marshall & Gordon partner to represent the firm’s five regions of the firm and lead the design process. The advisory unit surveyed all consultants in February in order to understand their way of thinking about the fairness, worth, and effect of the current performance management system. Majority of the interviewees responded to the corporate surveys implying that the subject was topic was especially exciting to them. Interviews gave insights on present and prospective business plans and direction. The survey also showed that specific focus across certain employee populations should be given. Six current hires from key competitors were also interviewed to comprehend competitor pay practices and compensation program structures. Further focus groups discussions and key information interviews enabled the taskforce’s to understand the needs of certain groups within Marshall & Gordon’s worker population. The survey culminated with the taskforce conducting interviews of 20 partners and principals togeth...
The company Steel Co, which has been established for around 30 years, has been in a steady decline during the current recession and although a Divisional Director has been employed by the owner the fortunes of the company have not improved. The staff is unhappy, unproductive and unimpressed by the Human Resource system that currently exists in the company. The pay structure that currently exists within the organisation has been much debated among employees who feel it is unsatisfactory. The Business Adviser will research Performance and Reward management tools in order to help the company develop a more suitable Performance and Reward system to use. A variety of sources will be used in order to evaluate the system and tools against other organisational frameworks. The pay structure within the company will also be looked at in order to identify any possible changes that could be made.
The organizational success is vastly dependent on its employees and the organizational structure it is based on. The organizational structure refers to the system of distribution of work roles within various employees and management levels and the way the various functions are coordinated within the individuals and departments in order to achieve the organization’s goals . Different organizational systems have different levels of output in various domains. So the company’s strategies should be in line with its corporate objectives and the higher tier management should continuously monitor the company’s strategies and performances to ensure its progression towards the desired outcomes. Therefore there are currently the following issues in W.L.
Merrill A. “Pete” Miller Jr. is second member of the audit committee with five years of experience on Chesapeake’s Board of Directors. His education stemmed from U.S. Military Academy at West Point where he got his degree in Applied Science and Engineering. After serving five years in the United States Army, he went back to school and attained his MBA from Harvard Business School in 1980. Since that time, Mr. Miller has had various executive positions in drilling companies that work with oil and gas wells. He worked at Anadarko Drilling company for fifteen years before being promoted to CEO for a year. He then joined, National Oilwell Varco, Inc., a leading company in drilling solutions with operations globally. While he started at National Oilwell Varco, Inc. as a V.P. of Marketing, Mr. Miller continued to be promoted to various
Business risk management has been a widely crucial tool for firms to include in their operations and its importance cannot be overlooked. In the case of British Petroleum (BP) Gulf of Mexico Oil Spill in 2010, there was negligence and lack in the contingency plan and response of the company to the risks that arose. It became evident in this analysis that BP’s manner of handling the incident had a massive financial implication that ensued negative public perception and company reputation and value.
In every industry especially in the highly technical product such as lubricating oil, one particular company always stands out as the leader. They might have the highest sales and the largest customer base. But whether they are leader in the market or not their position in the market can always be under threat. It is understand form the case study that, Castrol might face a huge competition in the market. In order to improve the position of Castrol oil in the marketplace, they should follow some policy guidelines. In an open market economy where entry to market is less, industry leadership can be changed very quickly. Even established brands can be displaced with new one. So a company like Castrol with a leading market share over the world
At British Petroleum our goals are based upon our needs to foster and increase positive perceptions of our organization among employees and their families. We pride ourselves on setting the industry standard for drilling safety and employee retention in a worldwide market, however there is always room for improvement. British Petroleum seeks to bridge the business and workforce aspects of our company into more of a family like community. Our competitors are aware that we operate in a global market and bring on only the best for our worldwide team. Our workforce is one of the largest in the world, this is why aspire to cultivate that family like dynamic. After the Deepwater Horizon incident, our commitment to our employees undeniably impacted
Oil spills is contamination of the environment, especially marine area due to oil spillage from various kind of sources. The world production of crude oil increases from 59 million barrels at year 1980 to 79 million barrels at year 2015.
Performance management is a management tool used to value, monitor and measure a company’s strategies that ensure the efficiency and effectiveness of its product delivery. This management tool does not focus on the organisation and on its employees as well as stakeholders. It is a continuous process that entails that managers make sure that organisational and employee values are corresponding (Aguinis, 2005,p.1/2-1/5). Performance Management brings about the competencies in the employees, increases self-esteem by giving feedback to employees, there is a low number of lawsuits because it helps understand the company better (eThekwini Municipality, 2008,p.10-11). According to Pride, Hughes and Kapoor (2011, p.288) performance management creates motivation for employees; one theory of motivation is of Expectancy, which stipulates that employees satisfaction is driven by expectations of what an organisation will offer in return.
Indian Oil Corporation Limited, or Iocl, is an oil and gas corporation in India, with its headquarters in New Delhi. It is the world's 119th largest public corporation in India.
Pacific Oil Company The Pacific Oil Company is going through renegotiation. The company grew immensely early in its inception. The Pacific Oil Company is a “producer of industrial petrochemicals” (Lewicki, Saunders, & Barry, 2010). In 1979, the Pacific Oil Company established a contract with the Reliant Corporation. Pacific Oil Company purchased “vinyl chloride monomer” (VCM) from the Reliant Corporation.
Performance management is a process that guarantees an organisation and all of its available resources are working collectively and effectively towards achieving the organisation’s mission or goal. Performance management affords an understanding of what drives an individuals, and even organisations, performance at all levels. An understanding of performance management allows for the identification and minimisation of unproductive areas of an organisation, as well as an ability to predict future performance. It is a powerful tool that can be used by managers at all levels of an organisation to help improve a company’s productivity.
Organization is a group of people brought to gather to achieve specific goals. Goals can be achieved if team member are performing well. Performance is the results of activities given to the employees in an organization to be achieved within specific period of time. Evaluating the current performance of employees against past performances and organizational standards is known as Performance Appraisal (Dessler, 2005). Furthermore performance appraisal helps the company know how individual employees are performing and how to improve their performance thus improving the performance of the company (Grubb, 2007). A performance appraisal is propose in which the performance management system in an organizations set work goals, determine performance standards, provide performance feedback, determine training and development needs and distribute rewards as well as evaluating an employee’s job performance during a period of time. The performance of team member is much more than appraising individuals’ works, it is managing the business, so the performance of an employee is influences by the performance of an organization. It is target to achieve the best results for the planned strategic by managing activities of employees. There are many different opinions on the performance appraisals, some organizations do performance appraisals without any aim just follow others., where some organizations do performance appraisals to make sure they have a record of a piece of paper in the employee’s file – they are careless about do corrective action. But successful organizations understand the importance of combining performance appraisals into their performance management process and strategy plan as the success of any organizatio...
Performance management is used for the basis of promotion, reduction in force purposes (talent management), gives transparency of what an organization is looking for, merit increases, and lastly it provides protection against lawsuits for unlawful termination by keeping written documentation. Performance evaluations are advantageous to both the organization and the employee. A leading advantage of performance evaluations is it gives the employee an opportunity to create and achieve smart goals. Although performance evaluations primary function is to measure whether an employee is a good fit or a bad fit for the organization, its function is so much a broader. Performance management is tool purposely used to motivate employees to examine themselves and determine if they have selected the profession that is best for them; consequently the feedback an employee receives from their superior supports them with increase their knowledge and