SOCIAL SECURITY

Social Security Administradion and Effective Performance Management

Social Security Administradion and Effective Performance Management

Social Security

Social security in terms of the organization refers to the financial security an employer offers the employees in the form of pension, provident fund, old age benefit, and so on. These are vital for a company to maintain a positive image in the public and with its employees. Many countries including the US have taxes to insure that the employees are covered. Unfortunately Able corporation faces issues regarding this, as its previous employees in the US are no longer getting their pension (Franco, 2004).

Description of Organization

Able Tool Corporation is a leader in prototype work, short-run manufacturing, rebuilding and repair of process, machinery since 1984. The company is a well known brand with its saw brands capturing 40% of the market, while the company's other products are low quality, and occupy less than 3% of the market share.

Industry/ Market Trends

The Industry has a number of competitors which are proving tough for the corporation. The industry is experiencing very slow growth is the US, with consumer usage growing at less than 5% annually. Europe, Asia and the Middle East can be good markets for the company as they are experiencing goo growth. These countries are evolving in culture by adopting technology and emphasizing on construction and the induction of women in the workforce. (Moncrieff, J. 2001).

Mission / Objective

Able Corporation's mission statement is “to become the leader in the power tools industry by providing the customer with dependable, price-effective, and modern products, while establishing quality in the client support system. The company aims to grow consistently by relying on quality human resource and adapting new technology to give its customer the best product possible”.

Organization's Strategic Planning Process

HRM's Role in Planning Process

HRM`s role is to promote effective performance that can serve administrative and development process. A variety of ideas are also linked with capability-based appraisals of people; cause, traits self-concepts, attitudes, cognitive behavior skills and work habits (Schippman, 2000). Performance management is most commonly used in the place of work, and can be applicable anywhere people work together — schools, churches, community meetings, sports teams, health setting, governmental agencies, and even administrative settings. It is the effective function of HRM to increase the efficiency of the organization by bringing improvement in the performance of individuals (Gerhart, B. 1996).

Current HR Department

The company's HR functions include a number of tasks including the organization`s ...