Thoery

A detailed Summary of Thoery

The goal of the HR system of Performance Management is to enhance employee actions in an attempt to achieve results that conform to the company's goals and visions. Upon studying Performance Management, I drew the conclusion that an effective manager will plan and implement an effective, efficient and comprehensive performance management system. To this end, successful management is tied to an individuals ability create a system in which team members have clear reasonable goals, a sense that they are related to company objectives, have sufficient resources and training, and receive timely useful feedback and constructive criticism. Through my studies regarding performance Management and Cybernetic Theory, I have formulated and broadened my own theories and perceptions regarding the importance of feedback and constructive criticism as it relates to the success of the HR system in attaining its goals and objectives.

About a month and a half ago, I took a new job as a manager of The Drink Nightclub. Despite having almost 2 years of management experience, I have discovered that I have had to make several adaptations and learn several new skills in order to achieve the results that are expected of me. Currently, I am very happ

y and comfortable with my position, the job description and the tasks and responsibilities I am expected to perform and accept. My high motivation and happiness within my new place of work can be directly attributed to the HR system utilized by the General Manager, Dave Urner. More specifically, the timely and constructive criticism and feedback I have receive profoundly impacts my performance and creates an environment that is very welcoming and comfortable for me. Dave and I meet twice a week, once in private and once in a group with other mangers within the company. During our private meetings, we discuss what I have accomplished in the last week and what I plan to accomplish (what are my goals?) for the upcoming week. I also get a chance to say what I think I did best, and also what my "areas of opportunity" are. Dave gives me instructive criticism through discussing the things he thinks I did best and the areas in which I have an opportunity to improve. Furthermore, when we are working together on a busy Friday or Saturday Night, he watches me and confronts me when I have a free moment and asks me what I did in the situation he observed and further gives me alternative suggestions in handling a similar situation if it arises in the future. He always tells me how happy he is with me and what I am accomplishing so quickly, but is also quick offer criticisms and alternative actions and solutions that I should take into consideration. I find that the way and time in which he delivers feedback, motivates and encourages me to constantly seek improvement and instills a desire to learn more.

Being part of the management team, my pay is salary based. However, my bonus structure is based on performance and targets. As the manager specializing in liquor control and promotions and marketing (a very unique dichotomy hey?), my bonuses are based on liquor variance and cost figures and the success of my promotion ideas based on the number of people through the door (it is measured by number of tickets returned). I receive a specified bonus dollar amount per tenth of a percentage point below the target percentage for liquor costs. Because our weekly liquor sales fluctuate $50 000 per week, a tenth of a percentage amounts to quite a bit. With a low liquor cost in mind and an attractive bonus I thought was attainable, I modified and implemented a better, more efficient liquor control system that reduces wastes and allows a more specific tracking of inventory. The result for me was almost being a more than half a percentage point below the targeted percentage!. This translated into a fairly large bonus for me as well as excessive praise from Dave, who wants the same system used in his other two clubs in Edmonton. Furthermore, I receive a specified amount per ticket I receive at the door for any one of my promotions or parties. In my first month, I had almost 750 tickets returned which also meant a fairly

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Approximate Word count = 1974
Approximate Pages = 8 (250 words per page double spaced)

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