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Human Resource Management And The Global Marketplace

1598 words - 6 pages

Management PAGE \* MERGEFORMAT 9
Running head: HUMAN RESOURCE MANAGEMENT AND THE GLOBAL MARKETPLACEHuman Resource Management and the Global MarketplaceMarch 27, 2010AbstractThe author discusses the importance of Human Resources Management and the three key components that she views to be the most affective in the global market place in the next 10 years: Strategic Human Resource Management, Comparative Human Resource Management, and International Human Resource Management.IntroductionMore companies are beginning to recognize the importance of managing their Human Resources (HR) department as efficiently as possible. It is virtually impossible to read anything that pertains to the success of a business without stories that detail the success of the company due to how effectively they manage their employees. As the environment becomes more global, managing people also becomes more challenging, more volatile, and subject to rapid change and surprise. What we are witnessing within Human Resource Management (HRM) is the rapid appreciation for and development of all aspects of global activities and issues connected to HRM. The importance of managing people effectively in the global market is so great, that many companies are devoting a great deal of time and attention to the subject. Here is what I view to be the most important factors affecting the practice of HRM in global market place within the next 10 years.Human Resource PracticesDifferent countries have different national cultures that have different human resource management implications. One of the challenges faced by organizations as they globalize their operations is the adaptation of their HR practices to the new set of cultures in which the organization is operating and the creation of a manner of operation which is both comfortable to the organization, and appropriate for those cultures. This market challenge is true for firms all over the globe. As organizations become more global and begin to do business in greater numbers in different countries, the number and different types of cultures represented in their workforce also changes. As this number increases and as organizations attempt to treat each different culture with respect, practical issues can arise which may make doing business increasingly more difficult. For example, which religious and secular holidays need to be honored based on the cultures represented in the workforce? There may also be questions may arise regarding what the official language of the workplace will be and whether the speaking of other languages to co-workers will be accepted. Of course, many other aspects of individual motives vary such as legal, the political labor market, and economic conditions, these are critical for comparative HRM.In the global context, there are three areas of HRM that continues to evolve and over the next ten years will continue be a mainstay and key components for a successful global market place. The global market place will be...

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