What are three key factors in an effective performance appraisal process?

Here is the Scenario:

Marylee: Hey, Traci, this is Marylee Luther. I wanted to talk to you about getting some recommendations for pay and benefits strategies. I have a list of some things I’d like you to keep in mind. I can send you the list if you need me to, but I’ll just summarize it for you real quick.

One: We want to be comparable to other commercial construction businesses.

Two: Because we’re expanding into Arizona, make sure the strategies will work well there.

I’m sure those strategies will have to be different from those we use in Detroit, Michigan.

Three: Again, we plan to add an additional 20% to our current workforce of 650 employees.

Four: We have an annual net revenue of $10,000,000.

Finally, we expect our current -3% revenue growth to stay the same, at least for the first year.

I think that’s it. If you could use that information to give me some recommendations, I would greatly appreciate it! Thanks so much, and talk to you more soon.

Must be at least 600 words with 2 peer-review sources.