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Assignment on International Human Resource Management and Change

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Added on  2021-02-19

Assignment on International Human Resource Management and Change

   Added on 2021-02-19

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International HumanResource Managementand Change
Assignment on International Human Resource Management and Change_1
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Performance Management Strategies .........................................................................................1New Market – Finland.................................................................................................................3Tesco balance scorecard steering wheel......................................................................................5Recommendations........................................................................................................................6Employee Engagement................................................................................................................7Management Of Change ............................................................................................................7CONCLULSION.............................................................................................................................8REFERENCES................................................................................................................................9EXECUTIVE SUMMARY.............................................................................................................1
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INTRODUCTIONInternational Human Resource Management refers to managing the personnel at theinternational level. It seeks to match the organisational goals and gives a competitive advantageabove competitors at both national as well as international level. International HRM comprise thefunctions like recruiting, selecting, training & development, performance appraisal done atinternationally. International HRM is different from that of HRM as it contains a broaderperspective and more involvement in their personal lives. Tesco is an British MNC dealing ingroceries and merchandise retailing. The company was founded 100 years ago and is situated atWelwyn Garden City, Hertfordshire, England, UK. Tesco is third largest retailer dealinginternationally calculated according to the gross revenues and ninth biggest retailer globallymeasured according to the revenues. Tesco is the market leader in the UK of groceries with 6800shops across worldwide. The report will highlight the performance management strategies thatwill be adopted by Tesco to evaluate or measure the performance of the employees that areemployed in Finland(Belizón, Morley and Gunnigle 2016). Furthermore the report contains therecommendations made to enhance the employee engagement. MAIN BODYPerformance Management Strategies Key Performance Indicators and Metrics: This strategy helps the organisation tomeasure that how the company, projects and individuals perform interlinked with the strategicobjectives and goals. The primary value of KPI's is enabling the performance driven by data andin bettering the decision making process. It is an instrument that navigates the performance levelfrom current position to where the business needs to be. Performance Appraisals: The tool when used the right way is powerful for positioningthe purpose and aim of individuals with the strategic goals of the organisation. To get the bestfrom this tool the process should be regular, fair, specific and should be constructed on the basisof two way conversation(Brewster and et.al., 2016). 360 Degree Feedback: This tool is the most effective one as it evaluates the individualsperformance from everyone's point of view. It gives the employees assessment from a broaderperspective. It includes the view of superior, subordinates, peer group and self. The employeesperformance is measured on the basis of their contribution in accomplishment of the objectives.This techniques enhance the productivity of the employees as they receive the view point of1
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every person around the individual and will help in analysing the performance of the employees.The result of this strategy are used in training and development of employees(Cascio andBoudreau 2016). Management By Objectives: This strategy defines the specific objectives set by theorganisation and then make plans how each individuals goals will be achieved. The simple ideabehind this technique is as each individuals objective is achieved and those employees who knowabout their performance and achievement are motivated. It involves measuring the performanceof individual and comparing them with the set standards. Performance Management Frameworks: One of the most popular and bestmanagement frameworks is Balanced Scorecard (BSC). This strategy helps the companies toclarify the techniques and communicate their priorities and goals, evaluate the progress bycalculating the objectives that are delivered and carry off the plans and see that the initiatives arein the right place to present the organisations strategic objectives. Reward and Recognition Programmes: Reward and recognition are the motivators ofperformance. These both are the important part of the performance management system and itcreates a method for appraising those employees who are good performers. For companiesreward is meant to be financial that is bonus but a simple praise and recognition of the goodperformance of the employees is enough to motivate them and boost their morale so that they cancontinue with the high performance(Cascio, 2015).So these are the various performance management strategies that be implemented toimprove the performance of the employees keep them motivated and boost their morale. Everystrategy has their own pros and cons, it depends on effectively the strategy is choose andimplemented in the organisation that is according to the employees. Tesco will adopt 360 DegreeAppraisal strategy to evaluate the performance of their employees. As Tesco is starting abusiness venture in Finland they have to hire some expatriates and some employees will be local.So to evaluate their performance 360 degree appraisal is used. The benefits of implementing thisstrategy is this gives feedback from the different perspective that is from managers, subordinates,peer members and customers it is beneficial as the individual interact differently with the peoplethey work. Individuals of Tesco that is the employees of the parent company and those ofFinland will be different with each other so this will give a detailed analysis of their behaviour.This strategy gives the development opportunities as the communication skills are improved and2
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