Performance Management

Performance Management Student’s Name Institutional Affiliation Course Instructor Date Performance Management Five Variables That Should Be Addressed in An Expatriate Performance Management System. Various factors weigh heavily in the management of expatriate performance across multinational corporations. The first factor is the cultural adaptability of expatriates. Cultural adaptability refers to how well employees stationed abroad can fit in and blend into the host country's culture (Bader et al., 2021). Since these employees act as stewards of the companies they represent, they must gel and align their behavior to the cultural attitudes of native citizens. Expatriates must seek to understand the culture of the host country to tailor their conduct and mirror the company's image in a way that represents the people's culture. Cultural adaptability calls on the expatriates to understand and maintain healthy boundaries with the locals and to respect their way of life during interactions. Signals that expatriates may identify in assessing positive cultural adaptability during performance management include positive feedback from the locals, excellent engagement with the host country shareholders’ and a positive outlook in handling cultural-related setbacks. The second variable that should be addressed in expatriate performance management is goal alignment. In international business, MNCs employees must align their goals with the market needs of the host country. These workers must clearly understand their roles and responsibilities in facilitating and delivering market success in abroad markets (Varma et al., 2022). One of the most efficient ways of ensuring that set objectives align well with local market conditions is through setting specific, measurable, achievable, relevant, and time-bound (SMART) goals. For maximum results, MNCs must always require their expatriate workers to continually review and adjust the set goals with the help of management. Reviewing and adjusting these goals ensures that unmet economic gaps within international markets are identified and addressed. The third variable that needs to be addressed in expatriate performance management is performance metrics. These metrics are important because they help to define the corporate standards that MNCs must meet while operating in the host country (Wang & Varma, 2019). Multinational corporations can assess the performance management of their expatriates by looking at how good or bad their target levels are versus the existing market share, determining if the applied crisis mechanisms in the market are yielding results, or whether local teams are delivering innovative mechanisms that help to address the unmet market needs of the host country. The fourth variable is feedback and support systems. At all times, MNCs must ensure that expatriate performance management accommodates room for feedback. The progress of MNCs in overseas markets can easily be tracked if there is effective feedback between the expatriate home offices and their management abroad. The existence of a seamless system that allows the management of home countries to liaise with abroad management on the performance of expatriates limits human resource problems from unproductive workers (Varma et al., 2022). Feedback and support systems allow MNC management at home to know the challenges expatriate workers may b...