Expatriate Performance Management System (EPMS) of Coca-Cola and KING Beverages

Performance Management
Your Name
Subject and Section
Professor’s Name
May 14, 2023
Overview
Understanding the modes of creating an effective expatriate performance management system (EPMS) is necessary for a company's competitive advantage, especially in a highly competitive industry. This is particularly true with supervening circumstances requiring significant changes and the interoperability of different organizations. Accordingly, this essay will focus on two companies Coca-Cola and KING Beverages, which are multinational corporations that operate in the beverage industry. To effectively evaluate and develop an expatriate performance management system in these corporations, analyzing performance management processes in multinational corporations is essential.
Variables to be Addressed
An effective EPMS must consider five crucial variables when designing its strategy. Each of which will be discussed in greater detail in the following.
The first variable, the compensation package, is designed to attract and retain the best talent for the job. In addition to base salary, the compensation package should include incentives such as bonuses, stock options, and relocation expenses. This will ensure that expatriates feel valued and are incentivized to perform at their best.
Aside from the compensation package, task and roles is also critical. The task and roles of an expatriate should be clearly defined and communicated to them. This will help to ensure that expatriates clearly understand their responsibilities, which will help improve their job performance (Darawong et al., 2016). Also, expatriates should be given the necessary resources and support to perform their duties effectively.
Third is Headquarters' support, which provides expatriates the necessary support, including training, communication channels, and feedback. This will help to ensure that expatriates can adapt to the new environment and perform their jobs effectively. A robust support system will also help boost morale and increase job satisfaction for expatriates.
Fourth is the host environment in which the organization (organizations) operate. The host environment should be conducive to expatriate job performance. This includes the availability of necessary resources, such as office space, equipment, technology, and a safe and healthy living environment. This will ensure that expatriates can perform their jobs without distractions or obstacles.
Finally, cultural adjustment is a critical variable for expatriate success. Cultural adjustment includes language training, cross-cultural training, and support from local employees. A cultural adjustment will help expatriates build relationships with local employees, improving their job performance. A strong understanding of local customs and practices will also help expatriates communicate effectively and work collaboratively with their local colleagues.
Based on these variables, an EPMS must consider these five variables to ensure that expatriates can perform their jobs effectively and achieve the company's objectives. By providing the necessary resources, support, and incentives, companies can attract and retain top talent while ensuring that expatriates can adapt to new ...