Hrm 531 Performance Management Plan

Performance Management Plan - Bollwood Hotels

Based in Minneapolis, Minnesota Bollwood Hotels have approximately 25,000 employees, with plans to increase staff by 20% when it opens locations in India; Bollwood has a five percent employee turnover rate and expects the same with expansion in India. At present, the annual net revenue is $100,000,000 with expected growth of 15% revenue. This report will provide recommendations on a Performance Management Plan for Bollwood Hotels’ global expansion into India.

An effective Performance Management Plan (PMP) will encourage employees to in many situations, to work beyond what they believe is achievable (Dooley, et.al, 2013). The essential elements of a viable performance management plan involves an employee performance appraisal involving feedback between the employee and manager, career/job development, and permitting the employee to establish motivating objectives-goals without fear of reprisal Oracle, 2012). Additionally, an efficient PMP needs the following variables:

• Establishing Expectations

• Continuous Monitoring of employee performance

• Developing the capacity to perform required tasks

• On-going review and rating of employees performance

• Rewarding good performance (Oracle, 2012).

For Bollwood Hotels, an additional consideration for an effective performance management plan is to acknowledge the differences between American and Indian cultural values without imposing ‘Cultural Imperialism’, the expectation of an indigenous population to abandon its beliefs for the beliefs of a larger, more economically sound population (Mohan,2011). India is one of the oldest, unchanged cultures in the world, yet with increased globalization from Western Economies, such as the United Kingdom and the United States, long-standing cultural values are increasing challenged in pursuit of increasing profits (Princeton, 2013).

Establishing Expectations

Bollwood management must take into consideration that PMP criteria...