Performance Management in MNC's- A Study on Aker Solutions, A Multinational Corporation, Kakinada

Abstract

In the era of globalization where most of the companies are MNC’s that deals with various countries and with various sets of people culture and beliefs identifies the most important aspect of human resource management that is performance management which acts as a set of practices through which work is defined, reviewed and rewarded, and employee‘s capabilities are developed. In these global dealings Performance management enables a business to define strategic goals, also measure and manage performance against those goals. Thus Performance management is a set of integrated, closed-loop management and analytical processes, supported by technology, that address financial as well as operational activities. The present study emphasizes the policies and practices adopted for effective performance management in Aker Solutions, and to examine the appropriate methods and strategies to develop the individual and organizational performance.