MT203_Unit7_Assignment

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1 Unit 7 Assignment: Evaluations, Compensation and Firm Objectives Purdue University Global MT203: Human Resource Management Professor Hone December 5 th , 2023

2 A medium-sized company that has been around for 20 years, by the name of Braintrust Toys, is currently facing issues with their compensation, evaluation, and objectives. The outdated objectives of Braintrust Toys are to invent 10 new toys every year and reinvent at least 10 more, increase revenues by 15% per year, employ motivated and committed workers, and provide safe and intellect-expanding toys for everyone. The company is looking to change over to an innovative strategy which Lamb et al. (2018) states will implement new objectives that are to enhance attributes and convenience to increase customer sales. Objectives will include enhancing 20 existing products, launch at least 15 new products that appeal to new customers and new markets, develop 5 new markets, hire personnel that think innovatively, hire diverse support personnel and designers who are customer oriented to support new products and markets. Due to the changes in objectives, and the introduction of robots in the workplace, many of the employees have been let go, which has led to the staff questioning their own compensation and the evaluation process. For Braintrust Toys to overhaul their objectives would mean that they would also have to make changes to their compensation and evaluation processes for their remaining and future employees. The current evaluation system is 75/25 split based on increased department product output (75%) and increased department sales (25%), now due to the change in technology and goals, the company should be revamping these measures to reflect the new goals/objectives. Compensation has long been determined on longevity with the company, which may have been ok in the past, but in modern times it is better to stay competitive in the market. To better serve both the company, and keep turnover low, the evaluation system should be changed to a Management by Objectives process. Employees will work harder and fight for a company that they believe in so it is important for them to understand their roles and what their objectives are,

3 this is what MBO will help them accomplish (CFI n.d.). According to Wright et al. (2021) Breaking down goals by department will help foster teamwork which leads to increased output for the business. To be specific, the manufacturing team will have their own metrics while the sales team will have their own, this change will also impact compensation as teams that can accomplish their goals will receive good reviews and higher pay. Braintrust Toys can address their own issues by looking over the processes that they have in place, like how they managed to change their objectives. Changes in technology lead to changes in manufacturing processes, ultimately leading to new business objectives. When the changeover occurred, they should have looked at their compensation package to see if they were still competitive in the market, and how well their evaluation system fared for their current staff. Regardless of the goal, the success of the business comes from the people on the front line, and for Braintrust that would be their manufacturers and salespeople, by tying changes in goals to the processes above, they will be more successful.

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4 References CFI Team(n.d.) Managing by Objectives (MBO). CFI. https://corporatefinanceinstitute.com/resources/management/management-by-objectives- mbo/ Lamb, C. W., Hair, J. F., & McDaniel, C. (2018). MKTG (11th ed.). Cengage. Wright, R.A.N.J.H.B.G. P. (2021). Fundamentals of Human Resource Management (9th ed.). McGraw-Hill Higher Education (US). https://purdueuniversityglobal.vitalsource.com/books/9781264185160

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