Recent orders
Employee Performance
Employee Performance
Introduction
The importance of motivating employees cannot be gainsaid as far as the performance, profitability and overall sustainability of the company in the long-term and the short-term is concerned. Needless to say, different techniques have been devised to motivate employees, with offering rewards being one of the most commonly used. In this case, the employees would be ranked into excellent performers, medium and poor performers in a 20/70/10 ratio. However, the effects of this forced ranking may be contrary to the expected results. Indeed, it tends to de-motivate employees and demoralize them (Ivancevich et al, 2009). This is especially considering the fact that it is extremely difficult to measure a large number of workplace skills, such as communication, in which case rankings may end up being arbitrary and poorly connected to performance. In addition, the aspect of singling out the poor performers and making them fear about the future of their jobs would hardly inspire or motivate them rather it would only scare them (Ivancevich et al, 2009).
Equity theory explains force rankings and states that in instances where employees feel that they have been treated fairly, they have higher likelihood of being motivated, while workers that feel that they have been subjected to unfair treatment would be prone to feelings of demotivation and disaffection, which may result in substandard performance (Ivancevich et al, 2009).
Apart from using forced rankings in motivating the workers, it would be more preferable to pay attention to the things that excite them. On the same note, enhancing one’s listening skills and communicating more frequently with the workers would essentially make them feel more significantly more comfortable discussing with or approaching their managers and bosses with issues, thereby enhancing their job satisfaction and eve cut down on errors.
Case 7.1
Keeping track of the performance of the employees is of utmost importance as it allows for the determination of the instances where their performance is falling. On the same note, it is imperative that the underlying causes for the drop in performance are examined rather than simply concluding that the lackluster performance of the employee emanates from deficiencies in their personality traits or undesirable attitudes. In the case of Joe, his performance was previously impressive since his hiring a few months ago. However, it has dropped significantly in the recent times. The diagnostic model may be used to determine the plausible performance problems.
Both Joe and the boss agree on the need for the improvement of Joe’s performance. While Joe may not be earning an amount sufficient to cover for his family and personal expenses, there is no evidence that the problem in his performance emanates from being inadequately motivated. Indeed, the problem with his performance emanates from the fact that he is poorly motivated and may even have unrealistic expectations. Joe feels frustrated by the fact that the architects do not take his opinions pertaining to the manner in which the job should be done seriously, simply because he is yet to obtain a degree. Indeed, he expects that the architects will at least be cognizant of the fact that he is experienced in his work and could offer some insights into the same. On the same note, he feels that the fact that he does not have a degree makes him stagnate doing the grunt work and earning peanuts (being the lowest paid person).
Questions to Joe
Do you feel that your performance is below par?
O you feel that you have the necessary resources to perform the job?
Do you feel that the performance incentives are equitably distributed?
Do you feel that you have the necessary training to perform your job? If not, does that interfere with your capacity to perform your job?
Do you feel that the work assignments make the best blend for you?
What expectations do you have for the entity with regard to the work environment it provides?
References
Ivancevich, J. M., Konopaske, R., Matteson, M. T (2009). Organizational Behavior and Management. New York: McGraw Hill
HIMAX TECHNOLOGIES INC
Financial Statement
Student’s Name
Affiliation
Course
Date
HIMAX TECHNOLOGIES INC
Annual Balance sheet for the year ended 12/31/31
Assets
All numbers in millions of US Dollars $ (‘000,000,000)
2013 (12/31/13) 2012 (12/31/12) 2011 (12/31/11) Current Assets Cash and Short-Term Investments – Total 237 213 191 Receivables – Total 201 209 181 Inventories – Total 177 117 113 Current Assets – Other – Total 25 28 31 Current Assets Total 640 567 516 Non-Current Assets Property Plant and Equipment – Total (Net) 61 53 57 Investment and Advances – Equity 0 0 0 Investment and Advances – Other 22 13 25 Intangible Assets – Total 33 36 31 Non-Current Assets – Other– Total 4 6 16 Non–Current Assets Total 120 108 129 ASSETS TOTAL 759 675 645 Liabilities and Shareholders’ Equity
2013(12/31/13) 2012(12/31/12) 2011(12/31/11)
Liabilities
Current Liabilities
Debt in Current Liabilities 106 73 84
Account Payable/Creditors – Trade 151 136 134
Income Taxes Payable 17 10 4
Current Liabilities – Other 30 24 23
Current Liabilities Total 304 242 245
Long–Term Liabilities
Long-Term Debt Total 0 0 0
Deferred Taxes and Investment Tax Credit — 0 1
Liabilities (Other) 3 4 4
Long-Term Liabilities Total 3 4 5
Liabilities Total 307 246 250
Minority Interest – Balance Sheet 4 0 0
Shareholders’ Equity
Preferred/Preference Stock (Capital) – Total 0 0 0
Common/Ordinary Equity – Total 450 428 393
Shareholders’ Equity Total 450 428 393
LIABILITIES AND SHAREHOLDERS’ EQUITY TOTAL 759 675 645
The assets are listed in order of liquidity, most liquid current assets appear first, Current asset appear first such as the cash, bank balances and short term investments, receivables, inventories. Current assets are expected to be converted to cash or use within an operating period. Inventories and accounts receivables appear at the bottom of current assets as noted in the HIMAX technologies financial statement. Long term assets are then presented with Property which includes plant property and equipment this are physical used in the course of operations. Intangible assets are intellectual property but in HIMAX case they are not specified, the company then identifies other noncurrent assets which might include a prepaid expense.
The classifications of assets are defined in terms of property and possessions of the business they include: Fixed assets not acquired for sale but for business purposes they include, property, plant and machinery. They can also be classified as wasting Assets as they are prone to wear and tear. : Circulating Assets that are held for sale bills receivable although not defined in the report stated above: Intangible assets have no physical existence and do not represent anything valuable: Contingent assets like uncalled capital in which they happen after an event and then Outstanding Assets which are expenses paid in advance but are not received by the limited company in a fiscal year (Eisen, 2007).
Cash and cash equivalent is an asset that are highly liquid can only be converted into cash example saving accounts, bonds, money market, and treasury Bills. They appear on a financial statement of an organization and include cash in bank and cash in hand accounts. Cash is generated from the sale proceeds of products and services, borrowing from financial institutions and creditors and from capital contribution from owners or shareholders. They do not deteriorate in value until maturity.
Current liabilities are debts a company owes and are payable within a fiscal year. Examples of current liabilities include Loans, consumer deposits; Federal taxes account payables, interest payable and reserves.
Total Current liabilities (For the period ending 12/31/13)
=Debt in current liabilities + Accounts payable/creditors + income taxes payable + current liabilities
(All numbers in millions of US Dollars$ (‘000,000,000))
304=106+151+17+30
Total Current liabilities (For the period ending 12/31/12)
=Debt in current liabilities + Accounts payable/creditors + income taxes payable + current liabilities
(All numbers in millions of US Dollars$ (‘000,000,000))
242=73+136+10+24
Current liabilities are essential to enable an investor know how much a company owes in the short term. The current ratio or quick ratio usually determine whether a company can pay off its current liabilities. Most investors would invest in a company that has less debt within a financial year or progressed in paying off debt in a financial period. Paying debts requires one to change some assets to cash, this will help you compare how much current asset you have and lets you know how much liquid cash you have. A balance sheet summarizes the company’s assets liabilities and shareholders’ equity at a specific point in time to analyze how a company pays for things (Weygand, Kieso, 2008).
Reference
Eisen, P. J. (2007). Accounting Barron’s business review series business, Review books (5 ed., pp. 177-200). New York: Barron’s Educational Series
Weygand, Kieso, P. D. K. A. L. D. (2008). Hospitality financial accounting (2 ed., pp. 110-145).New Jersey: John Wiley and Sons.
Fidelity Bank Financial Statements-HIMX (HIMAX TECHNOLOGIES INC0
Employee motivation
Name
Institution
Professor
Date
Employee motivation
In motivating the employees, job enrichment and job sharing are the most suitable reward techniques that I would prefer. Job enrichment is suitable because it enhances an employee to maximize their skills and expertise through allocation of variety of tasks at the workplace. This is a perfect motivation technique because apart from reducing chances of boredom and that could result low job productivity, the technique also provides the employee with the opportunity to maximize their abilities and also develop new skills. In addition, job enrichment makes the work more interesting as the employee is looking forward to learning new skills during working time. Job sharing on the other hand is a suitable motivational technique as it enables an employee to share their job responsibilities with another person thus creating more time for their personal activities. It involves coming up with a planned work shifts whereby two different employees fill out for one another. The method not only reduces issues related with fatigue that could lower motivation but also enables the employees to have more time for their personal tasks thus reducing conflicts and stressors involved with lack of adequate personal time.
In certain circumstances this motivational combination may be hard to implement. Such cases include a scenario where there is a high expectation of task accountability. Job sharing for instance may lack accountability if the involved employees make a mistake of fail to sign a record book once their shift is complete. This may result to irregularities and low work productivity hence becoming a disadvantage to the employer. Both techniques may also become impossible to administer in an autocratic led organizations such as the military whereby a person is supposed to stick to the task assigned to them.