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Hello again, I'm Helene Tenzer,
a professor of
International Management
at LMU Munich School
of Management.
In our continuing journey
through International
Human Resource Management,
we will now zoom in
on International
Performance Management,
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but what exactly is
performance management?
Imagine it as a guiding process
that helps organizations
establish goals,
evaluate the work of
individual employees,
and, most crucially, gauge
the successful for implementation
of business strategies.
When we take this concept to
an international scale in
multinational corporations,
the topic gets a
bit more complex.
This complexity comes
from local factors
like a country's culture
and specific practices,
which create variance in how
performance management
is applied and received.
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International
performance management
serves two primary goals,
to evaluate employee's
work and to
find out which development
programs they still need.
The evaluation function
includes a range of tasks.
First, supervisors need to
set clear goals for
their employees.
These goals must be
smart, specific,
measurable, attainable,
relevant, and timely.
Later, supervisors need to
monitor progress
towards these goals
and provide feedback
to employees so
they know where they stand and
what they need to improve.
Tracking goal attainment also
provides robust data that
influences decisions around
pay promotions and
job assignments.
It helps to identify
high potential employees which
companies should
work hard to retain,
but it also provides a means of
warning employees about
unsatisfactory performance.
It helps management in
making discharge decisions.
The development function of
performance management also
includes several tasks.
It identifies
the training and
development needs
of individual employees.
It aids managers to enhance
their present performance and
to nurture their
future potential,
and it motivates
employees by recognizing
and celebrating their
contributions and endeavors.
In the international arena,
balancing these goals demands
a keen understanding of varied
cultural expectations and
operational practices
ensuring that the strategies
employed are attuned to the
local and the global context.
