Study Of The Optimization Of Performance Management Of LY Corporation

For a long time,coal has taken the first place of the production and consumption of primary energy in China.Like other commodity markets,coal industry was turbulent by the global outbreak of the COVIC-2019,which exacerbated the uncertainty of the global economy and severely recessed the world economy.In the context of the new economic normal,the global economic growth has slowed down,China has increased its support for new energy sources,and the traditional energy structure has entered a period of adjustment.The increase in energy conservation and environmental protection requirements makes the coal industry must actively transform and adjust.At present,the performance evaluation methods of most coal enterprises in China are still relatively backward.Entering a period of transformation and upgrading,coal industry of China urgently needs to shift its focus from the traditional development model that focuses on financial results to an innovationdriven and meticulous management track.Therefore,a scientific performance appraisal system should be established.It is particularly important for the development of the coal industry.Taking LY Group Corporation as the research object,the research aims to explore the transformation of the performance management system concepts and methods of coal enterprises under the new development requirements.The overall performance evaluation system of LY Group is studied by questionnaire surveys and on-site interviews.Although LY has established a performance evaluation system,it overemphasizes operating performance and production indicators.At the same time,there are also deficiencies such as single evaluation subjects,incomplete indicators,unreasonable indicator weights,untimely evaluation feedback and complaints,performance in a mere formality,and lack of employee growth.Basing on an in-depth analysis of the current status and problems of LY corporate performance evaluation,the main body of performance appraisal of LY group company is selected based on different indicators and different purposes through analysis.Combining the characteristics of the coal industry and LY’s own characteristics,analytic hierarchy process is used to propose a KPI indicator system with five dimensions of "finance,customers,internal operations,safety and environment,learning and growth".In particular,environmental indicators have been added as a comprehensive consideration,not only focusing on economic benefits,but also focusing on social benefits.In the meanwhile,KPI indicators with three dimensions,namely work attitude,work ability,and work performance is applied in front-line employees for reconstructing the employee performance evaluation index system of LY Group.Then,supervision and guarantee system and a tracking feedback mechanism is established to ensure the continuous improvement of the management of the performance evaluation system of LYCorporation.The redesign of the company’s performance evaluation system not only improves the personal performance and potential of employees,but also has positive significance for the improvement of the company’s management level and the realization of corporate strategic goals.The application of the multi-dimensional performance index system also plays a role in supplementing and improving the performance management methods and theoretical research of related resource-based enterprises.The operability of the performance system of LY corporation has certain reference and guiding significance for companies in the coal industry.The comprehensive application of multi-dimensional indicators will he LY enhance the overall competitiveness of my country’s coal industry,and also provide new development ideas for related resource-based industries to get rid of current financial difficulties and achieve further upgrading and transformation.11 figures,16 tables and 65 references are included.