This essay delves into the realm of International Human Resource Management (IHRM), specifically examining performance management within the banking sectors of the United Kingdom (UK) and Pakistan. The introduction establishes the core concepts of IHRM, emphasizing its role in multinational corporations (MNCs) and its various functions, including performance management. The literature review explores key IHRM models, such as P.V. Morgan's three-dimensional model, the 5-P Model, and the Harvard Model, along with the convergence and divergence theories. The main body then shifts focus to a comparative analysis of the UK and Pakistan, utilizing Hofstede's cultural dimensions to highlight the cultural differences and their impact on performance management practices in the banking sectors of both countries. The essay emphasizes how cultural nuances influence HRM strategies. The analysis explores the challenges and opportunities in performance management, offering insights into the critical business tools and strategies employed by banks in both countries to enhance employee performance. The essay concludes by summarizing the key findings and discussing the implications of cultural differences on IHRM practices. References are provided at the end of the essay.
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