Tracy Is the Chief Financial Officer for Trendy in a Box

Essay

Tracy is the Chief Financial Officer for Trendy in a Box, a publicly traded fashion delivery subscription-based company headquartered in New York City. Trendy is entering its fourth year in business and has experienced annual sales growth every year. Their customers vary in age, gender, and geographic location. Trendy's includes accountants, customer service reps, warehouse staff, and personal shoppers, personal shopper is the most sought-after position in the organization. All employees, except for warehouse workers and personal shoppers, have the option to work in-office or remotely and this has created some unique tax issues for Trendy in a Box to overcome. Tracy is preparing for the company's annual employee meeting where they discuss the past year and reveal plans for the upcoming year. Tracy is consulting all departments and asking each for data. Tracy would like to see Trendy continue growing and would like to present a plan to all Trendy's employees at the upcoming meeting. With all of this in mind, answer the following questions with the objective of preparing Tracy for the meeting.
a. What are some examples of financial performance measures this company could use and why choose those? Would other companies use the same measures?
b. What are some examples of nonfinancial performance measures that Trendy company could use and why choose those? Will all Trendy's departments use the same measures?
c. One company-wide goal is to improve staff evaluation procedures. What are the five most important aspects of the staff performance evaluation process from the employee's perspective, and how can Trendy ensure they are thoroughly addressing each?
d. The company is considering hiring new employees and must determine the best way to compensate the new hires. Based on the information provided above, what type of compensation would be the most sensible choice?
e. If you were a manager at this company, how would you describe the importance of performance measurement to the rest of the management team, and how would you describe it to other employees?