Contemporary performance management in Global Context

Contemporary performance management in Global Context

Results are the tangible and readily measurable of the horizontal dimensions of performance. Two of the most widely applied result-based performance measurement and management methods, namely goal setting and balance scorecard.

In terms of the (prescriptive or descriptive)conception of work as a linear value-adding process, results can be defined as those tangible and intangible outcomes from work behavior or activity that management deems desirable and valuable in achieving organizational objectives conceived thus, the results domain may be seen as covering six main outcome categories:

1 product or service quantity

2 product or service qualities

3 financial outcomes

4 timelines

5 innovations

6 Stakeholder reactions

The global performance management system is based on corporate values and goals, tailored to the different countries, depending on cultural sensitivity and knowledge of the process of the direct feedback (M.Festing & J.Eidems, 2011).

The impact of HRM policies and practices on firm performance is an important topic in the fields of human resource management, industrial relations, and industrial and organizational psychology (Huselid, 1995).

Performance management in IHRM represents a designed and implemented intervention by the MNCs with the goal of the management of the performances of the global workforce (individual, team and organizational performances) so that those performances can contribute to the achievement of the global strategic objectives and results of MNCs.

Every year, in its Sustainability Report, Samsung presents its management practices and results, offering examples of the KPIs used in each of the most important areas: “for the purpose of monitoring and analyzing our efforts to ensure that all business activities are aligned with sustainable development, Samsung Electronics identified several key performance indicators with measurable data to guide our innovation in sustainability”(samsung,2013)

Indeed, one of the most important segments of the performance management at Samsung is represented by HR.As an incentive for the eco-management, through the “Samsung Electronics Annual Awards” the company recognizes the contributions made by the company’s organizations and individuals in the area of green management with prizes and additional points on their performance appraisals.(samsung,2013)

The performance management at Samsung is a combination of talent management, green management, integrity management, time management, financial performance and creative business strategies, in order to secure the company’s position among the global electronics leaders. (Samsung, 2013)

References

J.Shields, M.Brown, S.Kaine and C.Dolle-Samue,(2015) “Managing employee performance and reward concept,Practice,Stratagies,illustrated,Cambridge university press.

M.Festing & J.Eidems,(2011) A process perspective on transnational HRM systems-A dynamic capability-based analysis. Human Resource Management Review, 21(3), pp.162-173.

M.Huselid, (1995) The impact of human resource management practices on turnover, productivity, and corporate financial performance, Academy of Management Journal, 38(3): PP.635-672.

Samsung electronics, (2013) sustainability report (https://www.samsung.com%2Fis%2Fcontent%2Fsamsung%2Fp5%2Fglobal%2Fir%2Fdocs%2F2013sustainabilityreport.pdf&usg=AOvVaw38ZhiFhyHWtcc0OWHcHpRE), accessed 06 Dec. 2017 at 8pm.