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Performance ManagementJermaine ReynoldsBUS325: Global Human Resource ManagementProfessor Sandy HughesNovember 15, 2020
Performance ManagementIn the textbook International Human Resource Management, the authors define performance management as “a process that enables a company to evaluate and continuously improve individual, unit, and corporate performance against clearly defined, pre-set goals, and targets.” (1) When attempting to manage the performance of staff in a multinational corporation, there are certain variables that should be addressed in an expatriate performance management system. Thispaper will discuss five variables that should be addressed in an expatriate performance management system, analyze the elements within each variable, and evaluate the differences in conducting performance evaluations for expatriates that differ from a traditional performance management system.The Compensation PackageThe first variable is the compensation package. Compensations are a way of rewarding employees for their work performance. The perceived reward motivates an employee to perform their job efficiently and effectively. A lack of a motivating factor can lead to a decrease in the level of employee commitment and can also affect performance. Without the right compensation package, an employee will feel underappreciated and derive low satisfaction from their job.