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Impact of globalization on HRM
Impact of globalization in hrd
Impact of globalization on HRM
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Nowadays, it is obvious that the field of Human Resource Management (HR) is experiencing several intimidate for change. Shifts in the economy, globalization, domestic diversity, and technology have created new demands for organizations, and propelled the field in some completely new directions. Nevertheless, these challenges at the same time create innumerable opportunities for Human Resource Management and organization as well. However, we believe that these challenges also create countless opportunities for HR and organizations as a whole. Hence, the aims of this article are: to examine some of the challenges and opportunities that should influence the future of HR, and provide an overview of the very interesting articles included in the …show more content…
Globalization is said to be the organizations that operate on a global or international scale (Oxford Dictionary, 2014b). Research on HR in the international context has centered on three approaches to comprehend the issues that emerge in global environments: international, comparative, and cross-cultural HR (Parry, Stavrou-Costea, & Morley, 2011). It also outlines the anatomy of MNCs, and examines the unique set of HR issues that occur in these contexts (Budhwar & Sparrow, 2002). researchers believe that the factors that affect HR practices in global environments variables are contextual variables (such as the host country 's legal system, cultural distance between host country and employees ' country), firm-specific variables (such as the stage of internationalization, type of industry, link between strategy and structure), and situational variables (such as staff availability, need for control, locus of decision making), These factors has to be put into consideration so as to implements the …show more content…
The need for leadership development is very essential in any organization. The HR professions are expected to provide the important structures, processes, tools, and points of views to make best selection and develop the future leaders of the organization. World Federation of Personnel Management Associations. (WFPMA) reports that, “Across the globe leadership development has been determined as the as a critical strategic initiative in ensuring that the right employees are retained, that the culture of the organization supports performance from within to gain market position, and that managers are endowed to take on leadership roles of the future so that the organization is attainable in the long term”.
In conclusion, challenges and opportunities affecting the future of human resource management are very important aspect to consider in any business organization because without these challenges an organization will crumble. So understanding and fixing the challenges will bring success in
Human Resource embraces the spirit of mission of teaching, research and training (NJIT Website). Human Resource core purpose is to facilitate the transformation of work life at any organization to a standard that surpasses the organizational planning objective (NJIT Website). Human Resource Departments has several goals to include attracting, developing and retaining a premier and diverse workforce; anticipating trends and consequently providing strategic solutions; fostering creativity, innovation, and learning as a whole to foster and facilitate change; ensure compliance with all federal, state and local regulations, as well as overseas labor laws where applicable; and to promote fair and equitable treatment for everyone in the workplace (NJIT Website). In this paper we will discuss three scenarios that require assistance from the Human Resource Department (NJIT Website).
While there are many various global issues that affect the International Human Resource Management to run efficiently, there are two key concepts that play a major role in understanding how to approach them with cohesive and a well coherent strategy; they are the International Human Recourse Management Strategy and Understanding the Cultural Environment. In the International Resource Management strategy, many companies will do their research in finding companies that offer the following:
In today’s fast-paced, highly-competitive global marketplace, many companies are embracing the less cumbersome and more flexible decentralized human resource approach. However, there are advantages to centralization and some business professionals point out that in the global marketplace:
Noe, Raymond A., et al. Human Resource Management: Gaining a Competitive Advantage. 7th ed. New York: McGraw-Hill/Irwin, 2010. Print.
With the proliferation of the internet international Business transactions are more common today than ever. Globalization is now a key factor when creating a business strategy for most companies whether they are small family own businesses or huge corporations. Globalization however does not just involve selling a product in other countries. There are legal and cultural concerns that must be addressed. The legal aspects are fairly simple because in most places the laws are spelled out. It's the local customs, and regional way of doing things that can be tricky. Research on globalization has shown that it is not an omnipotent, unidirectional force leveling everything in its path. Because a global culture does not exist, any search for it would be futile. It is more fruitful to instead focus on particular aspects of life that are indeed affected by the globalizing process. (1). In this new economy, as it has been in the past, it will be the people not the machines who will determine a company's success. Having an effective Human Resource Management team that effectively analyze your company's current and future personnel needs is key in any business organization.
The only way to develop the kind of leaders a changing organization needs is to make leadership a critical criterion for promotion, and then manage people’s careers to develop it.
Globalization of human capital is where, human resources are sook after by companies from all over the world. Due to the increased demand for skills at a lower cost, companies will tend to look for employees to work in their premises from all over the world (Webforum, 2015). In this regard, since companies are extending their operations the entire world over, human capital globalization is inevitable since they will need to work with people from these countries for them to successfully exploit global markets.
Whether an organization consists of five or 25,000 employees, human resources management is vital to the success of the organization. HR is important to all managers because it provides managers with the resources – the employees – necessary to produce the work for the managers and the organization. Beyond this role, HR is capable of becoming a strong strategic partner when it comes to “establishing the overall direction and objectives of key areas of human resource management in order to ensure that they not only are consistent with but also support the achievement of business goals.” (Massey, 1994, p. 27)
I chose this particular concept due to the need for effective leadership in today’s workforce as it pertains to employee development. In most cases, many businesses have ineffective leadership development programs that are designed to tear down employees rather than build them up. I have experienced such a lack of leadership through past employment experiences, however, those experiences have afforded me the ability to recognize and prevent those issues from occurring today. I have noticed a lack of focus on behalf of organizations where employee turnaround is the highest. There is nothing more stressful than an organization that is continually trying to see you fail added in with the daily problems of an adult life. The importance of leadership development is found in the constant need for strong and intuitive leadership throughout today’s modern organizations (Rowland, 2016). Organizations of the modern setting will need to explore alternative and innovative avenues to implement effective leadership skills as it pertains to specific industry cultures and or competition. I personally believe that the diversification of today’s workforce has promoted a positive change in how employees are treated and how organizations operate competitively in today’s business
What are the HR Strategies that management must undertake and support to create a successful global presence to insure the success of an organization in meeting its goals and mission?
HUMAN RESOURCE CHALLENGES With the 21st century in motion, human resource management will face some of the old struggles and HR will be forced to face many new challenges. The main objective of HR is to recruit, retain, train, retrain and keep workers satisfied. Indeed, these responsibilities can be challenging in the 21st century, especially with changing roles, a multi-generational workforce, and globalization. Changing Roles.
Ulrich, D., Younger, J., and Brockbank, W. 2008. “The twenty-first century HR organization.” Human Resource Management, 47, pp.829-850.
In an effort to gain a working understanding of the Human Resources field, I chose to interview the Director of Human Resources for an organization in Miami, Florida. What I learned goes far beyond any classroom or textbook instruction. It is clear; the field of Human Resources will never be static, as society, technology, and legal environments change, so will the field of Human Resources.
Knouse, S. B. (2005). The Future of Human Resource Management: 64 Leaders Explore the Critical HR Issues of Today and Tomorrow. 58(4), 1089-1092.
In dynamic, global competitive markets, successful organizations are likely to be staffed with managers capable of adapting to constantly evolving roles, and with the capacity to achieve and sustain optimal levels of performance. The global market place has currently impacted the practice of human resources management in the United States and will continue in the next ten years.