Table of Contents

Handbook of Human Resource Management in Emerging Markets

Handbook of Human Resource Management in Emerging Markets

Research Handbooks in Business and Management series

Edited by Frank Horwitz and Pawan Budhwar

Bringing together a diverse set of key HRM themes such as talent management, global careers and employee engagement, this remarkably wide ranging work on managing human resources in more than 20 emerging markets is written by world-leading experts in HRM in emerging markets and based on leading-edge research and practice.

Chapter 14: Performance management and high performance work practices in emerging markets

Arup Varma, Pawan Budhwar and Sneha Singh

Subjects: business and management, human resource management, international business, development studies, development economics

Extract

In this chapter, we discuss performance management systems (PMSs) and high performance work systems (HPWSs) in emerging economies. We start by discussing PMSs, with specific emphasis on PMSs in global organizations. We follow this up with an introduction of HPWSs, and then discuss PMSs and HPWSs in emerging economies. While the list of emerging economies keeps changing, and is rather long, as one might expect, in this chapter we have concentrated on five key emerging economies – China, India, Mexico, South Korea, and Turkey. Performance management is the process through which organizations set goals, determine standards, assign and evaluate work, coach and give feedback, and distribute rewards (Fletcher, 2001). In this connection, organizations all over the world face the challenge of how best to manage performance, including finding ways to motivate employees to sustain high levels of performance. In other words, organizations must develop and implement PMSs that are appropriate for their environment in such a way that high levels of performance can be achieved and sustained over time (DeNisi, Varma and Budhwar, 2008). While all organizations need to address these issues, the way a firm decides to go about addressing these issues is dependent on its location and context. In other words, differences in local norms, culture, law, and technology, make it critical that organizations develop and/or adapt techniques, policies and practices that are appropriate to the setting (see for example, Hofstede, 1993).

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