Performance Management Policy

Purpose The New Day Company, LLC is committed to fostering high performance and continuous improvement among our workforce. Our Performance Management Policy establishes a structured approach to assessing employee performance, promoting professional growth, and ensuring alignment with our strategic business goals.

Scope This policy applies to all employees of The New Day Company, LLC, across all departments and levels of the organization.

Policy Statement The New Day Company, LLC recognizes the value of effective performance management in achieving our mission and business objectives. This policy provides a framework for setting performance expectations, providing regular feedback, and facilitating employee development.

Performance Evaluation Process

• Initial Goal Setting: Employees and their managers will collaboratively set performance goals aligned with company objectives at the start of each evaluation period.
• Ongoing Assessment: Regular performance assessments will occur to provide employees with feedback on their progress towards achieving their goals.
• Annual Review: A formal review of each employee’s performance will be conducted annually, taking into account feedback from peers, subordinates, and clients where applicable.

Responsibilities

• Employees: Expected to actively engage in the performance management process, seek constructive feedback, and work towards the continuous improvement of their skills and competencies.
• Managers: Responsible for providing consistent and objective performance evaluations, offering guidance, and supporting the professional development of their team members.
• Human Resources: To facilitate the performance management process, ensure its consistent application across the company, and provide support to both employees and managers.

Performance Improvement Employees whose performance does not meet expectations will receive a clear plan for improvement, including specific targets and timelines. Continued failure to improve may result in further action, up to and including termination.

Promotions and Compensation Decisions regarding promotions and salary adjustments will be informed by the performance management process, ensuring fairness and meritocracy in such decisions.

Commitment to Professional Development The New Day Company, LLC is dedicated to the professional growth of our employees. We encourage ongoing development through various training and educational opportunities aligned with career paths and business needs.

Review and Amendments This policy will be reviewed regularly to ensure it remains effective and reflective of the best performance management practices. Amendments may be made in response to internal feedback and changes in industry standards.

Acknowledgment of Excellence We recognize and reward outstanding performance that significantly contributes to our business success and upholds our company values.

The New Day Company, LLC is dedicated to the success of our employees and our organization. Through this Performance Management Policy, we aim to build a culture of high performance, mutual respect, and continuous improvement.