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International performance management

Published on March 31, 2024   11 min

A selection of talks on Management, Leadership & Organisation

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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.

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