Explain benefits and drawbacks of performance management systems.

Option #2: Strategic RecommendationsSelect a company that has been on the Fortune 100 list in 2018, 2019, and/or 2020. Pretend that the CEO, CFO, and COO of the company have hired you, as an External Consultant, to make recommendations regarding the organization’s processes. The processes to be covered in this report include:Recruitment and Selection (Module 3)Performance Management (Module 4)Compensation and Benefits (Module 6)In at least 10 full pages of text (not including the cover page or reference page[s]), discuss the following topics in order, using the prescribed section headers in bold.Cover PageIntroductionProvide details about your selected organization (e.g., mission, vision, values, industry, and locations).Strategic Recommendations for Recruitment and SelectionExplain the critical nature of recruitment and selection. Identify the differences between these two functions.Then, explain the strengths and drawbacks of the chosen organization’s recruitment and selection processes.Strategic Recommendations for Performance ManagementExplain benefits and drawbacks of performance management systems.Justify why organizations should provide frequent, detailed, and timely feedback.Explore details about your selected organization’s performance management system and explain its strengths and areas for improvements.Strategic Recommendations for Compensation and BenefitsProvide details about what factors a compensation and benefits system must consider (i.e., internal and external influences).Explain if variable pay or base pay should be utilized. Justify your rationale for the selected pay types as based upon your organization’s industry.Review information about the organization’s compensation and benefit offerings. Do you believe these offerings are competitive? Why or why not?Explain how the organization’s geographical locations might influence compensation and benefit offerings.ConclusionReferencesRequirements:For this assignment, refer to the area of the Writing Center entitled Writing an Effective Essay(Links to an external site.). You may also want to view the sample paper entitled APA Sample Paper.(Links to an external site.)You can download and save the APA Template Paper from this page(Links to an external site.)as your own paper and replace the placeholders with your own information. This template is already formatted in APA style according to the CSU Global Writing Center(Links to an external site.). Do not change the formatting of this template.Write a 10-page paper, or about 4200 words, not including the title and reference pages, which are required.Your paper must be properly cited and formatted according to the CSU Global Writing Center(Links to an external site.).Include a formal references page. This is an individual paper; however, you should reflect on our discussion forums and incorporate ideas from there, as appropriate.You must support your analysis with at least eight scholarly references.The CSU Global Library(Links to an external site.)is a good place to find these sources. You cannot use Wikipedia or any CSU Global assignment. For this assignment, a credible source is defined as:A scholarly or peer-reviewed journal article.A government-based website or publication.A trade or industry journal article, publication, or website, including those from trade organizations such as SHRM.org and TD.org.