Explain the greater benefit in the long-term this decision

Assignment Help Financial Management
Reference no: EM132261855

Memo : Positive Message

Assignment: As the Human Resources Manager at XYZ Industries, Inc., it is your pleasure to announce the addition of annual performance-based bonuses for mid-level managers and above. These bonuses will require annual performance reviews to discern the amount of the bonus. Draft a memo explaining this scenario to this specific group of employees.

Preparation: Review Chapter 10: Writing Routine and Positive Messages (Especially pgs.266-267)

Format: Memo formatting can be found on page 167-168, 590 in your book.

The format of your memo tells your employees a lot about your sensitivity and professionalism. Since you do not want to upset any employees unnecessarily, you should also be conscious of your wording when explaining culturally-sensitive subjects. Pay particular attention to your memo's margins, line spacing, font type and size, and placement of memo parts such as the addressees, subject line, and body.

Address the memo to all mid-level managers and above at your company.

Recommended Organization

Header: Begin your memo with the four standard memo heads (Date, To, From, Subject).

Body/Discussion: In the first paragraph of the body, start off with the good news. Memos do not begin with greetings or salutations. Explain what factors could have contributed to this new development (i.e. increased sales, raising stock price, etc.) and why the decision was made to reward employees with the surplus funds.

The second paragraph is where you explain the new process that the employees can expect. Outline the way that reviews will be handled, and by whom. Feel free to be creative (yet somewhat realistic) when outlining how the performance scores will translate into bonuses (i.e. tier system, seniority, contribution value).

In the third paragraph, be sure to validate any anticipated concerns employees may have about this adjustment. Explain the greater benefit in the long-term this decision provides and conclude your memo by indicating how the reader may contact you if he/she has any questions. In general, this section should be "short & sweet," making sure that the employees know what is expected of them.

Reference no: EM132261855

Questions Cloud

Brief description of the business problem : Brief Description of the Business Problem/ Opportunity you Plan to Address and a General Description of your Strategy.
Consider different types of qualitative data collection : Summarize the use of qualitative data to support business decision making. Consider different types of qualitative data collection.
What is best source of wine in optimum price-rating ratio : Australian Wine Importers (AWI) asked you to develop a data mining method of classifying imported wines based on: Price category (as 5 equal size bins).
Penetrating price and skimming price strategies : Can you think of a type of business or an industry that can naturally benefit from one or the other price strategies?
Explain the greater benefit in the long-term this decision : Explain the greater benefit in the long-term this decision provides and conclude your memo.
Tension between departments due to organization : There has been increased tension between departments due to organization wide changes brought about by a recent merger.
Describe how externality of make new homeless shelter : Externalities can have a significant positive or negative affect on a property's value. Describe how externality of make new homeless shelter
Consider zoning as possible land use control : Consider zoning as possible land use control and explain how zoning affects market value of land in the fraser valley area of british Columbia?
Terms of real estate appraisal : What factors will influence your final decision to buy this Timeshare and pay the price you would pay for the Timeshare?

Reviews

Write a Review

Financial Management Questions & Answers

  Foreign company acquisition

Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.

  Financial management for profit and non profit organizations

In this essay, we are going to discuss the issues of financial management in a non-profit organisation.

  Method for estimating a venture''s value

Evaluate venture's present value, cash and surplus cash and basic venture capital.

  Replacement analysis

This document show the Replacement Analysis of modling machine. Is replacement give profit to company or not?

  Business finance task - capital budgeting

Your company is considering using the payback period for capital-budgeting. Discuss the advantages and disadvantages of this technique.

  Analysis of the investment

In this project, you will focus on one of these: the additional cost resulting from the purchase of an apple press (a piece of equipment required to manufacture apple juice).

  Conduct a what-if analysis

Review the readings and media for this unit, including the Anthony's Orchard case study media. Familiarise yourself with the Anthony's Orchard company and its current situation.

  Determine operational expenditures

Organisations' behaviour is guided by financial data. In the short term, such data will help determine operational expenditures; in the long term, historical data may help generate forecasts aimed at determining strategic plans. In both instances.

  Personal financial management

How much will you have left over each half year if you adopt the latter course of action?

  Sources of finance for expansion into new foreign markets

A quoted company is considering several long-term sources of finance for expansion into new foreign markets.

  Long term financial planning

This assignment is designed for analyze Long term financial planning begins with the sales forecast and the key input in the long term fincial planning.

  Explain the role of fincial manager

This assignment explain the role of fincial manager, function of manger. And what are the motives of financial manager.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd