登录查看更多内容

How can you negotiate employee performance expectations in different currencies?

由人工智能和领英社区提供技术支持

Negotiating employee performance expectations is a crucial skill for any manager, especially when you have to deal with different currencies. Whether you are managing a global team, outsourcing some tasks, or paying bonuses based on exchange rates, you need to be aware of the challenges and pitfalls of setting and measuring goals in different monetary units. In this article, you will learn how to:

此文章中的业界达人

由社区从 4 条内容中精选。了解更多

Mohamed Abugresha

Stevie? Awards Judger - Top LinkedIn Voice - MBA-CIPD_PMP_CMC_CPTD_ISO.9001
Binita Rathod

Strategic Human Resources (HR) Leader with a Passion for Building High-Performing Teams.
Mario Ceron, MBA, GRP ?, CECP ?

Managing Partner & CEO - Digitalization, Org Design, Future of Work | Equity/Rewards World-class Expert | WorldatWork…

1 Align your objectives

The first step to negotiate employee performance expectations in different currencies is to align your objectives with your employees and stakeholders. You need to communicate clearly what you want to achieve, why it matters, and how it aligns with the organization's vision and strategy. You also need to understand what motivates your employees, what their challenges are, and what resources they need to perform well. By aligning your objectives, you can create a shared vision and a common language for your performance management.

添加您的观点

Mohamed Abugresha

Stevie? Awards Judger - Top LinkedIn Voice - MBA-CIPD_PMP_CMC_CPTD_ISO.9001
举报内容
Establish Clear Communication: Clearly communicate performance expectations in a transparent and straightforward manner. Use language that is easily understood, avoiding complex terms or jargon. Define Key Performance Indicators (KPIs): Clearly define Key Performance Indicators (KPIs) that are measurable and aligned with the employee's role. Specify the expected outcomes, deadlines, and quality standards in a way that transcends currency differences. Use Universal Metrics: Whenever possible, use universal metrics that are not tied to a specific currency. For instance, focus on percentages, ratios, or numerical benchmarks that can be applied universally

已翻译

赞

2 Define your metrics

The next step is to define your metrics and indicators for measuring performance in different currencies. You need to choose metrics that are relevant, realistic, and reliable. You also need to consider the factors that affect the value of different currencies, such as inflation, exchange rates, and market fluctuations. You need to establish how often you will track and report on your metrics, and how you will adjust them if needed. By defining your metrics, you can set clear and consistent standards and expectations for your performance management.

添加您的观点

3 Negotiate your targets

The third step is to negotiate your targets and incentives for achieving performance in different currencies. You need to involve your employees in setting their own goals, and make sure they are SMART (specific, measurable, achievable, relevant, and time-bound). You also need to balance the rewards and risks of working in different currencies, and offer fair and transparent compensation and recognition. You need to consider the cultural and legal differences that may affect your employees' preferences and expectations. By negotiating your targets, you can create a sense of ownership and accountability for your performance management.

添加您的观点

Mario Ceron, MBA, GRP ?, CECP ?

Managing Partner & CEO - Digitalization, Org Design, Future of Work | Equity/Rewards World-class Expert | WorldatWork Partner DACH | Instructor of Instructors for Global Corporations | Startup Mentor | Author & Speaker
举报内容
In some companies targets are too easy, in some others targets are almost impossible. Start with the business plans. Then the figures have to be allocated by the leaders, perhaps with prior employee input, in a fair manner. They are not to be “too difficult”, or “too easy”. A common mistake is just to go LY+x% - people stop performing at YE, so that NY targets are not that high. Zero-base budget, expert consultation, benchmarking, may work better, specially when there’s seasonality or unreliable or non-existent recent history. Useful rule: 60-70% of people should at least reach target. Finally, currency fluctuations affects both business target figures and achievements, and also value of incentives. Specific analysis is required.

已翻译

赞

4 Monitor your progress

The fourth step is to monitor your progress and provide feedback on your performance in different currencies. You need to collect and analyze data on your metrics and indicators, and compare them with your targets and benchmarks. You also need to communicate regularly with your employees and stakeholders, and share your successes and challenges. You need to provide constructive and timely feedback, and recognize and reward your employees' achievements. You need to address any issues or conflicts that may arise due to currency differences. By monitoring your progress, you can track and improve your performance management.

添加您的观点

5 Review your results

The final step is to review your results and evaluate your performance in different currencies. You need to measure the impact and outcomes of your performance management, and assess how well you met your objectives and expectations. You also need to solicit and listen to feedback from your employees and stakeholders, and identify what worked well and what needs improvement. You need to celebrate your accomplishments and learn from your mistakes. You need to update and revise your objectives, metrics, targets, and incentives if necessary. By reviewing your results, you can close the loop and enhance your performance management.

添加您的观点

RAGHAVENDRA RAO SIRRA

Strategic HR Leader | Specializing in Talent Acquisition ??, Development ??, Retention ??, and Engagement ?? | Proven Expertise in Crafting Innovative HR Strategies?? and HR Policies ?? .
举报内容
Negotiating employee performance expectations in different currencies involves recognizing cultural differences, ensuring clear communication, adopting an individualized approach, providing continuous feedback, and establishing global standards with flexibility. The goal is to create an inclusive and motivating environment that respects diversity while aligning with organizational objectives.

已翻译

赞

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

添加您的观点

Binita Rathod

Strategic Human Resources (HR) Leader with a Passion for Building High-Performing Teams.
举报内容
Establish a standard value system that translates performance expectations into a common framework, irrespective of currency. Define clear, measurable performance metrics that are universally applicable. Ensure incentive structures are equitable and reflect the purchasing power parity of each currency region. Periodically review and adjust performance expectations and incentives to account for currency fluctuations.

已翻译

赞

Performance Management

+ 关注

给文章评分

我们借助人工智能创建了此文章。您认为这篇文章怎么样？

很棒不太好

举报此文章

查看全部

How can you negotiate employee performance expectations in different currencies?

1

2

3

4

5

6

1 Align your objectives

2 Define your metrics

3 Negotiate your targets

4 Monitor your progress

5 Review your results

6 Here’s what else to consider

Performance Management

给文章评分

感谢您的反馈

更多Performance Management相关文章

更多相关阅读内容

How can you negotiate employee performance expectations in different currencies?

1

2

3

4

5

6

1 Align your objectives

2 Define your metrics

3 Negotiate your targets

4 Monitor your progress

5 Review your results

6 Here’s what else to consider

Performance Management

给文章评分

感谢您的反馈

查看其他技能