Accordingto Frank Jennings, the Vice president of human resources at WeaveTech Company, the organization has been on the verge of variouschallenges. Retrenchment of 20% of the company’s managers is one ofthese difficulties. At the beginning of January 2014, Jennings wasordered to lay off 20% of the corporation’s staff. The greatestchallenge here is determining who to cut off and who to maintain. Thestrategy to use in laying off the employees is also anotherpredicament. The Weave Tech Company has also been experiencing somedecline in performance as a result of inadequate knowledge andskills. Some of other performance bottlenecks identified includepersonal divorces, sicknesses, and deaths. Nonetheless, Weave TechCompany have had an opportunity to diversify its operations to theproduction of outdoor apparels and has abruptly shifted to high-performance clothing. The main reason behind this abrupt change beingthe fact that outdoor clothing is the segment of the sports-clothingmarket with the highest degree of growth (Beer & Swiercz, 2015).
WeaveTech Company has its objectives embedded in the organization’smission and the vision statement. The corporation focuses on ensuringproduction of high-quality and high-performance clothing that meetcustomer demands. It also aims at providing opportunities to itsemployees to develop their skills in order to remain competitive.Beyond that, the management of Weave Tech Company is dedicated toensuring returns maximization (Beer & Swiercz, 2015).
Processand compliance metrics are some of the performance metrics that canbe employed in the course of monitoring the progress of Weave TechCompany and evaluating the efficiency and effectiveness of itsbusiness strategies. Process parameters are critical in theevaluation of strategic processes. Here the management enacts processimprovement objectives and measures the progress against these goals.Compliance metrics can be used to estimate periodic performancethrough activity reports. These metrics assess progress against thecompany’s accessible objectives and goals (Okes, 2013).
Inorder to achieve the laid down objectives, Weave Tech Company wouldrequire some workforce plans that cover the profile of the currentlabor force, training, and development programs. Some of theseschemes would be, development of training programs, seminars andconferences to ensure a high rate of employee retention. The companyshould also come up with new recruitment strategy the will enable itto source its employees from all over the world. Another workforceplan would be strengthening management and leadership at all levels.Lastly, the company needs to make plans that ensure worker motivationthrough special recognition to high performing employees (Smith,2012).
Developmentof the workforce programs mentioned above has utilized the use ofboth internal and external information. The external information usedinclude data on the challenges that the organization has been facingwhich emanate from the external environment such as competition.Information of on policies and regulations enacted by the state andthe labor laws. The internal information used include information onlinkages between the labor force issues and the entrepreneurialplanning processes. Sources of funds, initiatives and projectsundertaken by Weave Tech Company, the organizational structure andthe current capabilities of the company in its process of deliveringproducts and services.
Thereare several legal and regulatory issues that might have a greatimpact on the company’s workforce plan. Factors such as industrialregulations, lawsuits, limiting regulations and labor laws may haveeither negative or positive effects on the labor force plan prepared(Carton & Hofer, 2006). However, there are several mechanismsthat the company may adopt to mitigate the risks associated with thelegal issues listed above. They include drawing up contingency planswhich may be used when the primary plans do not go as expected,undertaking insurance policies for insurable risks that emanate fromlegal and regulatory issues and provision of enough training toemployees to ensure they have enough information on complianceissues.
Thethree- year strategic plan has been developed to document the humanresource department targets and priorities for the next three fiscalyears. This program addresses various issues relating to the successof the workforce plans set by this department.
Customersatisfaction score, employee satisfaction rating, gross margin, cashflow and productivity.
Keyinitiatives for sourcing, recruitment, and hiring
Comeup with a new recruitment strategy the will enable the company tosource its employees from all over the world and to cut down the costof recruitment reduces by 20% each year
Keyinitiatives for talent management and employee retention
Todevelop training programs, seminars and conferences that promote bothpersonal and professional growth to ensure a high rate of employeeretention.
Successionwill be based on merit and performance. The company will strengthenleadership at all levels of operations, and the immediate successorcan only be the next best-performing employee
Someof the exit strategies recommended for the company include bleedingthe corporation dry on daily basis, liquidation and selling thecompany to other favorable organizations
Compliancewith federal laws and regulations
TheWeave Tech’s three-year workforce plan has been developed in linewith the state’s laws and regulations. Unless there is a change inthese statutes the company has fully complied with each of them. Inthese that there is a change in any of the laws the company isflexible enough to adjust its plans to comply with the law.
Beer,M. & Swiercz, P. (2015). WeaveTech: A high performance change. Boston:Havard Business School
Carton,R. & Hofer, C. (2006). Measuringorganizational performance.Cheltenham, UK: Edward Elgar.
Okes,D. (2013). Performancemetrics: the levers for process management.NewYork: Prentice Hall
Smith,T. (2012). Strategicworkforce planning.Scott’s Valley, CA: Create Space.