Business Psychology, Mentoring, and Monitoring Report for XYZ plc.

This report analyzes the application of business psychology, mentoring, and monitoring within XYZ plc., a media company facing financial challenges. The report outlines the company's situation, the appointment of a new CEO, and the implementation of mentoring programs to address employee retention and skill gaps. It details the role of SBK elite in providing mentoring services, including various mentoring schemes such as selection and matching methods. The report further covers the training of mentors and the implementation plan, including costs and timeframes for various initiatives like technological skill development and workforce retention. It emphasizes the importance of mentoring in improving employee capabilities and overall organizational performance, concluding with a discussion on the benefits of these practices for sustainable growth and development. The report references key academic sources to support its findings.

Business Psychology,
Mentoring and Monitoring

INTRODUCTION
Business psychology and mentoring is basically a concept which is applied in
business to improve the performance of organization. Mentoring helps in strengthening the
capabilities of employees in order to increase their productivity. Here, some evidences will
be given that will help in successful development and growth of business. Also, some
mentoring schemes which will maximize profit generation capacity of company will be
discussed. Some measures to improve the performance of XYZ plc. will be provided as
well along with powerful mentoring to organization.

OVERVIEW OF ORGANIZATION
XYZ plc. is a media based firm that has emerged as the largest pay-tv enterprise in
Australia. Head office of this organization is situated in Queensland, Australia. The
company was a leading producer and it was creating a turnover of almost AUS$500m. But
recently, company is suffering from a economic crisis which has decreased its profit to
$200m. New CEO is appointed for the enterprise to again maximize profits. Priscilla brown
has developed new planning for the successful growth and development of business.

1. A SUMMARY OF BACKGROUNDS AND EXPERIENCE
 Being a business psychology practitioner, I was asked by the Chief executive officer to
prepare the latest strategies for this organization as a proposal to provide mentoring to
staff members.
 SBK elite is basically a group which has started its career as a psychology coaching and
mentoring team.
 CEO of XYZ has offered a great deal for strengthening the employees of enterprise.
 Priscilla have decided to provide mentoring to employees of company. she have also
decided to provide technological skills to the existing employees therefore she had
selected psychology practitioners to perform the these practices.

Cont..
 So, as a group member of SBK elite, I was chosen as a group leader among the team of
5 members which is a great opportunity to grant services to company.
 I was asked to coordinate and manage the activities in providing business psychology
services to workforce of XYZ.
 Priscilla was so impressed with my presentation and she had also informed that
planning and strategies has to be developed so that company could be able to
restructure and maintain a sustainable position in the future.
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2. EFFECTIVENESS OF MENTORING PROGRAMS
Priscilla Brown has identified many challenges as in a very short span of time,
company cannot sustain its employees and a lot of workers have quit the job. She has
decided to restructure the growth and development of company by implementing new
strategies.

Cont....
• Mentoring programs were initiated by a new CEO of company. It was observed that
there are many consequences which have brought the position of company at low level.
Such effective monitoring programs are as follows:
• New and potential employees are recruited again in order to sustain growth and
development of XYZ plc.

Cont....
• It was also found that there was lack of updated knowledge in old employees so, new
monitoring programs are established which aimed at providing knowledge of newly
implemented technology to old staff members.
• For providing the guidance to staff members, Priscilla required 50 mentors and 50
mentees to bring back financial potentialities of organization.

Cont..
• SBK elite has initialized several mentoring practices of empowering potential
employees so that losses of XYZ plc. can be recovered.
• Effective mentoring program has improved the potential capabilities of employees and
it has also helped in maximizing the efforts of employees.
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Cont....
• Activities of staff members are observed on the basis of their performance and then
mentor are appointed accordingly to improve skills and efficiency of workforce.
• Mentoring practice in promoting technological skills in existing employees
contributed towards effective output of XYZ plc.
• Application of monitoring practices in the company will be helpful in making the
business stable in order to achieve success

3. AN OVERVIEW OF THE MENTORING NEEDS
OF ‘XYZ PLC’
Organization can strengthen the activities by empowering their workforce to
produce desired outcomes. In recession period of XYZ plc., company had to face the
biggest threats. In this situation, enterprise requires a strong monitoring and mentoring
ideas to sustain growth and development of company.

Cont....
Recently, the entity is suffering from financial crisis so there is a great need of
psychological practitioners to provide appropriate services in order to regain effective
operations of company. This practice is performed to generate effective profits of this
organization.