Paper Example on Enhanced Performance in Emerging Pharmaceuticals: Changes for Improved Efficiency

Introduction

Benefits and remunerations are some of the essential elements that enhance performance in any organization. The Emerging pharmaceuticals have had its benefits and salary well stipulated based on each employer's job description; however, some changes may be initiated to make the operations and performance of the Emerging pharmaceuticals more effective (Freeman, 2010). It is with much appreciation that the stakeholders are informed that most of the changes to be addressed have been reached from in-depth research and benchmarking from some of our worthy competitors such as Medtronic Company.

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Identified Gaps

• The budget accounts are audited, and audit finding are to be reviewed by the legislative to ensure that the salary and remuneration are in line with the law;
• The tuition fee should involve all the workers who are legible regardless of the position or age;
• The members of a Needs Assessment Committee should be installed to represent the emerging pharmaceuticals and employers that are critical to ensuring commitment and follow-up;
• An evaluation team to be initiated to keep track of hard-working employees and reward them appropriately.

Misalignments

Change in the emerging pharmaceuticals may be caused by the fact that some positions that have not been created such as an evaluation officer's post to help with the issues of evaluation and reward individuals based on their scores; and thus may alter some project in existence. If the change is effected, it may adjust certain operations and even leads to layoffs and redundancies of some employees. There is also a looming change in business structure with human resource changing the business organization. For instance, the introduction of new bookkeeping and modes of initiating benefits to the employees; this will be based on the report from the evaluation team toward those individuals who deserve the specific bonus. And also updating of auditing software is derived as a significant cause and need for change.

The significant changes within the Emerging pharmaceuticals may effectively help to compete with some of t our worthy competitors such as the Medtronic organization.

Emerging Pharmaceuticals Rewards Components that Should Be Increased, Reduced, or Stay to the Same

Currently, the Emerging pharmaceutical in effectively adapting how it rewards its employees; however, mostly those in senior positions seem to gain more as compared to their juniors. The salary and benefits structure needs to be updated to be able to compete in the market and persuade more competent employees effectively. The profitability of the Emerging pharmaceuticals will increase as we enhance our clients' service tradition and appropriately update the salary and benefits of the employees. For instance, the yearly profit of $ 1,000,000, 3 senior staff and reduced vacancies occupied need to apply for the Emerging pharmaceuticals; Most of our staff trained in customer service and their benefits updated based on the evaluation reports. Nonetheless, the cash flow should continue to be minimized as per costs used in settling the salary and benefits of employees within the Emerging pharmaceuticals organization. And again, the initiated payment plan for employees that are currently applied by the accountant needs to stay the same as well.

My Rationale behind the Changes

I find the changes proposed to be significant to the entire Emerging pharmaceuticals organization. We, as an organization, should always be in a position to update our systems and conduct an employee satisfaction study; it helps to facilitate performance by building organizational capability and capacity. The proposed changes such as rewarding the employees based on the evaluation report and their scores assist in aligning the organizational practice with the values of the Emerging pharmaceuticals (George, Jones & Sharbrough, 2005). This case is especially compelling for the Emerging pharmaceuticals to determine the values of its employees. Moreover, the change would be critical in building the required capabilities and individual competency for the employees.

The Overall Impact of Each Proposed Change

The change will have to be initiated as soon as possible to be able to update the changes in our system. The rollout to take place within the stated period of 6 months and any adjustment in time will be communicated appropriately to all the stakeholders. During the process of implementation, the activity will always be kept on track by the evaluation team who will then complete a report and present it to the stakeholder in due time.

Demographic Information

Overall, gender is an essential element to analyze benefits and compensation data by gender to determine differences between the groups. From the data given, it tends that there are more men in the industries (63.4% females). The gender disparities enhance the possibility of promoting the manager in which the management can delegate the roles. The continually growing number of employees will call for practical evaluation of employees and rewarded effectively based on their performance score. Moreover, the tuition fees proposed need to be increased to facilitate the workers and prepare them for any possible chances of promotion. The fees can be increased to ensure that those employees who have decided to enhance their skills are in a position to efficiently finish their training.

The Degree that the Existing Population that Will be Affected by the Proposed Changes

Nonetheless, the proposed change of the Emerging pharmaceuticals may result in ambiguity and job uncertainty, thus building a deteriorating work environment (Kraatz & Block, 2008). If not adequately addressed, the existing population may lead to poor performances and even overspending on the project. Some employees may also be against the change; thus, it would be essential to involve the human element in the process to deter any further forms of resistance from the employees.

References

Freeman, R. E. (2010). Strategic management: A stakeholder approach. Cambridge university press. Retrieved from: https://books.google.com ' Business & Economics ' General

George, J. M., Jones, G. R., & Sharbrough, W. C. (2005). Understanding and managing organizational behaviour. Upper Saddle River, NJ: Pearson Prentice Hall. Retrieved from: https://www.homeworkmarket.com ' sites ' default ' files ' understanding

Kraatz, M. S., & Block, E. S. (2008). Organizational implications of institutional pluralism. The Sage handbook of organizational institutionalism, 840, 243-275. Retrieved from: https://www.profemilyblock.com ' uploads ' kraatz_and_block_-_instituti..