Performance Evaluation Memo: Strategic Goals and KPIs Insights

2-2 Memo: Performance Evaluation Alex Seamster 3-10-2024 Memo Date: 3-19-2024 To: TransGlobal Airlines Leadership Team From: Alex Seamster Subject: Performance Evaluation This purpose of this memorandum is to discuss the possible acquisition of two smaller aviation firms in the Caribbean specializing in chartered flights for luxury vacations using light aircraft (60 passengers or less) and assess the organizational benefits of acquiring these aviation firms. I will identify strategic goals and key performance indicators (KPIs) to help evaluate the company’s performance. SMART Goal I will identify one strategic goal using SMART criteria for four subtopics: financial, internal process, customer, and learning and development. The SMART criteria is an acronym for five aspects when setting goals: specific, measurable, achievable, relevant, and time-bound (Watts, 2022).

A. Financial The ultimate financial goal is to increase revenue. The goal would be to see a 20% increase of the next 3 years with this new merger. The first year 3%, year two 6%, and year three another 11% for a total of 20%. There will be new destination and departure locations therefore expanding our customer base. The KPI for this goal is simply seeing an increase in revenue reports. B. Internal Process Internally we would like to see employee satisfaction at an overall 90% rating. It is important for the employees to be happy as they are the biggest ambassadors of the company and reflect on the customers overall experience. The KPI for this goal with be through yearly employee surveys. C. Customer Before COVID-19 as a company we were seeing 27% new customer growth annually. I think we can easily see this number returning as vaccines after hit the market and travel bans and restrictions have lifted globally. With now being able to travel to the Caribbean this will also aid to the increase in a new customer base. The KPI for this will be tracked by customer surveys and brand loyalty sign ups. D. Learning and Development

With the expansion into a new corner of the market, Caribbean Islands, will come with job growth opportunity. Employees will have to ability to transfer into higher level positions and take advantage of the current learning and development opportunities and expand the company internal growth. The KPI for this goal will be based on the number of employees we see transferring into higher positions to see if this was a success or failure.

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Resources 1. Watts, R. (2022, May 4). The Ultimate Guide To S.M.A.R.T. Goals . Forbes Advisor. Retrieved March 20, 2024, from https://www.forbes.com/advisor/business/smart-goals/

2-2 Memo- Performance Evaluation

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