Provide separate feedback on the peer responses below. Is there something else they should consider that’s not mentioned in their response to the Admont Monastery organization? Do the KPIs they chose adequately measure the intended success?
Response 1
“Based on Environmental analysis and Benedictory values, which is to produce quality products. The company took pride in making high-end products. “We want to create something in which we take pleasure ourselves, combining functionality and good design — and that’s only possible with quality.” (Sternad, D., 2016)). Neuner believed strongly in product development, which is not a bad idea, but only if they had the technology to make this happen. This would bring up more opportunities, such as targeting new markets and increasing revenue streams.
An effective way to key performance indicators is to collect monthly data to ensure that the system is adequate. The primary purpose of KPI is to monitor the progress of a new plan or strategy. With Neuner’s intention to invest in product development, it would be vital to have a team keep track of the results. In this case, since the CEO and the executive team have come up with the strategy, I believe that first-line managers would be responsible for implementing the design because they oversee the operation and are very much involved in the day to day operation.
Sternad, D. (2016). Long-Term Orientation In The Benedictine Monastery Of Admont. https://hbsp.harvard.edu/
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Response 2
“Stepping into the modern age and utiizing the resources of the internet could be a great strategy that could assist The Benedictine Monastery of Admont move into a new direction. The Monestary has invested in real estate, partnered with local insurnace companies and has also invested in the stock market. The Monestary prides itself in community philanthropy and also creating sustainable jobs for employees and aiding them to successfuly graduate real estatae academy (Sternad, D. 2016). It is noted that although The Monestary has experienced several accomplishments, it also experienced challenges. For example, cost optimization projects and the need to work with employment agencies to meet service order levels (Sternad, D. 2016).
Key Performance Indicators or KPIs are defined as how an organization measures its progress acheiving defined goals/objectives (Pride, et al., 2019). The Monestary should have its human resource and recrutiting team utilize a KPI to create an objective survey or candidate tracking system to hire employees instead of using employment agcencies. It is understandlbly cheaper to use employment agencies because The Monestary would not have to pay for employee benefits. However this tactic is not working for the company, STIA has seen no profit from this at all. The Monestary could possibly save the same amount of money with direct hires but just hiring them to work part time. The Monestary likes to play it safe, it tries to refrain from taking risks (Sternad, D. 2016); However, in todays business world, an organizations ability to step out on a limb and make risky decisions is what sets it apart from competitors. The Monestary shoud utilize online candidate tracking systems like Paylocity or Workday. Highlight open job positions withing the organization, have HR create a formative benefits package to attact new talent, recruiting then needs to do their job and find candidates that collerates with The Monestary’s entrepreneurship and leaderships mindset and hire those individuals. The human resorce or recruting team could then create a survey or just a spreadsheet tracking the expense spent from hiring stage to onboarding those new hires. The need to compare the money that is spent using the employment agency. This survey does not end once the individuals are hired though, it should spand througout training and also cover workers who are benefits eligible and those who are not.
I believe these metrics should be housed within the talent acquisition team because those individuals play a huge part in hiring new talents.
References
Pride, W. M., Hughes, R. J., & Kapoor, J. R. (2019). Foundations of business (6th ed.). Boston, MA: Cengage Learning. https://ng.cengage.com/static/nb/ui/evo/index.html?deploymentId=58326623535012656204310067965&eISBN=9781337386999&id=1635820428&snapshotId=3196706&
Sternad, D. (2016). Long-Term Orientation In The Benedictine Monastery Of Admont. Published March 21, 2016. https://services.hbsp.harvard.edu/lti/links/content-launch
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