Corporate Strategy On Resource Management -Myassignmenthelp.Com

Question: Discuss About The Corporate Strategy On Resource Management? Answer: Introduction International human resource management involves the function of human resources such as recruitment as the first and foremost, then selection, guidance and progress, presentation appraisal and discharge done at the international level and other activities such as worldwide skills management, emigrant management and so on. Global competition and differences have resulted in the development of global organizations to develop their international human resources strategies. International human resource management is simply the process of managing the people in an international setting. It should be conducted in at least two countries. International HRM looks into a wider range of human resource activities unlike the domestic HRM. This process looks into the matters related to employee belongings of more than one country. With a greater involvement of HR manager in the personal life of the employees, a balanced work relationship is maintained. But there are disadvantages as greater amoun t of risk exposed in the international assignments. The general practices carried out in the process of IHRM are international staffing, pre- exit training and development for the international assignments, repatriation, and management activities being performed at the international level and there can be compensation issues in the international assignments(Brewster, Houldsworth, Sparrow, Vernon, 2016). There are different major trends and challenges associated with the practices of International Human Resources Management. IHRM is applicable to international, multinational, global and transnational corporations. MNCs have operating units situated in foreign countries, which work as autonomous units. As the head of HR in an MNC, the issues that can be looked up to are Globalization, Demographic changes and Technological Changes. Trends and Challenges In the recent days, companies and organizations experience both opportunity and the challenge of recruiting global employees who vary in race, culture, background, age and gender. As the head of the HR department, it is a really difficult to ensure the success of organization in such a varied and global environment. Globalization Competition at a global basis is the new fad where the employers and the employees visualize themselves as the international player in the global HR markets. There is a stiff competition going on at a constant rate between the countries as the consumers have a flexible pattern of purchasing. For instance, two renowned technological companies in a country are recruiting employees from another country by promising them a successful career(Armstrong, 2014). Political perspective Politics is considered within the national political systems. This is because the national governments are responsible controlling the security and the economic welfare of the people and also protect the human rights and the environment within their periphery. With the ongoing change in the global ecology and a more combined economy along with other global trends, the political activity is rapidly taking place at the international level. There are different political integration schemes above which the politics take place under a globalized business. Cultural perspective With the expansion of the companies across international borders, accessing the global market place becomes easy for both small and large business. The cross cultural team members are becoming more common and the business is getting benefitted from the diversified knowledge. In an international business scenario, the form of professionalism varies from one country to another. Therefore the IHRM process should be practiced in such a way as not to hurt the sentiments of any employees(Sparrow, Brewster, Chung, 2016). Economic perspective International business carries a significant amount of share in GDP in various countries. Different companies in different countries are in the search for new growth opportunities across the transnational boundaries. International business and HRM can be responsible for exciting the major sectors of the economy which will lead a better prospect for growth of profit. Thus IHRM and globalization together refers to the interconnection and interdependence between different countries that are coming together from the combination of different integration aspects such as trade. Social perspective With the effect of globalization in international human resources management, the relationship and connection among the nations have grown and developed. IHRM can be considered as a method to bring in globalization. It has led to an increase in the application of technology which gives way to liberalization of transnational trade and the resource movements. The increasing pressure of the consumers and the rapid increase in the international competition has forced to drive globalization in the international market. Impact of globalization on knowledge sharing Knowledge management is a subject which is practiced on a global scale in todays world. It refers to the people and giving them the opportunity to work in such an environment where they can boost up their knowledge and develop themselves. Knowledge is considered as the basis of competition, therefore, as the head of HR it will be required to set strategies about the organizational knowledge and capabilities for supporting the intended strategy(Alfes, Shantz, Truss, Soane, 2013). Impact of globalization on employee satisfaction There are certain external factors which are considered to be influencing the working environment and global work force is taken as one such factor which affects job satisfaction by increasing demands. Cultural similarities and differences The ability to communicate with efficiency is a major challenge in the global environment. Misunderstanding can arise out of miscommunication which can give way to organizational conflict. Speaking the same language is not enough to avoid miscommunication because conflict can take place due to difference in ethnicity, race and culture. Moreover, communication is directly proportional to organizational performance. Critical evaluation of globalization The global trends vary from one country to another. The major issue that is addressed in the above subject is that if globalization has led to any change in the organizational performance improvement. To critically evaluate the impact of globalization the concept of culture, economy, society and politics have to be taken into consideration. If the positive impacts are looked into then globalization has developed a better economy by introducing new technologies. On the contrary, the growth in international business has led to income inequality in industrialized and non- industrialized countries. Demographic changes The change in demography has caused a shift in the work patterns. The major prospect is the growing population which can lead to two kinds of concerns-one, the possible loss of the managerial memory and intellectual property with the retirement of the employees and two, succeeding demand for the post retirement pension and welfare services. Evolution of the new generation who are neither educated nor employed is a rising concern as a result of change in demography(Jackson, Schuler, Jiang, 2014). Political perspective The change in demography is triggered by the mechanism of birth, death, age and migration. There is always an opportunity for incorporation and also the change in boundary and identity. In this way the boundary of population can be withdrawn which would not have been possible in biological populations. There are some issues in it such as surges of young people in the developing world, increase in the ageing population in the developed countries and the effect of growing urbanization. Cultural perspective There is constant increase in the internationally operating companies. The global market is opening up to invite the foreign companies and new innovations in the business for successful growth. It is important to gain knowledge about the manners and customs of the foreign culture before welcoming the companies. This will set a healthy way of carrying out the business. Economical perspective There are some developing countries who are putting effort to reduce poverty but there are many left to do so(Lucio, 2013). Energy and environmental security tends to be the primary issue in the potential for long- term economic goal. In the contemporary boundary- less world, there seems to be very less threats that can evolve into major problems. Social perspective It is a fact that sociology and demography showcase mutual separation and indifference in international human resources management. The major social factor that influences business on a global scale is the change in customer preferences. Things that were popular previously might become outdated in the recent years. There are various styles and preferences which paves the way for long term products and services. For instance, in the process of recruitment the characteristics of the employee that were considered ten years ago have been revised to some new characteristic traits. Changes in demographics pose to be a major factor in the world of international business(Kramar, 2014). With the ageing of the population, the market of some products and services sinks with the growth of new innovations. Change in the gender ratio and various religious, racial and ethnic groups in the community has a significant effect on the business is conducted by a company. Impact of demography on knowledge sharing Although knowledge sharing among the employees is an integral part of the organizational activities but there are some cases in which there is reluctance on the matter. Knowledge is identified as the most important resource for any organization. Therefore all the organizations are trying to focus on the advantages that they will get by knowledge sharing. As the head HR it is a responsibility to value knowledge sharing for the benefit of the organization. Impact of demography on employee satisfaction In this era, international human resources management and development has been of great importance because individuals have found their own positions in the management and social processes. Demographic factors, along with the organizational factors, have a great impact in this regard. Cultural similarities and differences The globalization of HRM and other businesses in todays world is an obvious condition for the future growth and success of the organization(Zhong, 2016). There are factors which need some modification that are directly associated with the legal regulations of other countries but also to the cultural traits of their nation. The effect of some dimensions of the national culture is the chosen content of HRM in companies of few countries. Critical evaluation of demographic change Demographic factors play a major role on the human resources management practices in an organization. It has become the responsibility of the head of HR department to keep equilibrium in race, gender and ethnic diversity. It has become an important task for the companies nowadays to keep workplace balance in consideration. So, the demographic factors affect the HR practices related to recruitment, planning selection and security of workplace. Technological changes With the change in workforce structure, the potential IT is resulting in job loss and a struggle in the narrow industrial skills. Innovations in technology can be both beneficial as well as pose threat. There are only a handful of people who can work in the prime location but not all. Such a fad has made way for workplace diversity and cross- cultural performance. Political perspective The impact of power and politics in the technology of HRM is the outcome of the changing nature of the workplace environment on a global scale and the part of power and politics in this modification. The information about the effect of power and politics is essential for eliminating the constraints for sustainable development of HRD, improvement of the global system and creating individual who are politically and socially responsive(Purce, 2014). Cultural perspective If the impact of national culture is kept in mind along with the chosen trend and content of HRM in certain organizations, then the connection between the different dimensions of national culture, policies and procedures of an area can be established. There are organizations within the structural framework of the internationalization of business which can create business entities in some other countries. Economical perspective The global and economical modification is to the human resources management is in need for implementing a function driven by the market in all the possible approaches and thus, manages the diversity in the continuously increasing cross- cultural work environment(Obeidat Abdallah, 2014). The disruption in the trade barriers and the evolution of a free market economy on an international scale has increased competitiveness in the firms. Social perspective The understanding of the new innovations in technology for the society begins with an apprehension of the type of elements composed in the given technology. Recently, internet has become the ever increasing area of inquisitiveness along with the style among the individual users and there are few systematic tasks on the organizational traits that are related to IT(Messersmith Wales, 2013). Impact of technological change on knowledge sharing The information and communication technology has an impact on the knowledge sharing behaviors in many organizations. It had an objective to address the qualitative methodology and the outcome of which showed that the technological factors are involved within the work environment culture. Impact of technological change on employee satisfaction There lies dark cloud in the connection between employee involvement and the organizational activities along with the challenge in the Information Technology. The new innovations deliver an important possibility which can develop the organizational performance by employee development. Cultural similarities and differences In international human resources management, the differences in culture and ways to deal with it are considered as one of the main challenges. it will be the responsibility of the head of HR to understand the cultural similarities and differences for developing strategies that are accepted equally in other countries(Deresky, 2017). Critical evaluation of technological change With the constant increase in global economic landscape there is a rapid growth of international export of goods and services. It can be observed that the growth in absolute values is taken into consideration for high- income economies. Recommendation As the head of HR it becomes the responsibility to make the elementary contribution for the development of the organizational culture and extraordinary staffing. If the organization is large then the head of HR will have roles which involve more responsibility and authority. The HR managers have the responsibility to lead various departments such as training, compensating and recruitment. The role of the head of an HR keeps on changing with the change in modern organizations and firms. There must be a similarity in the requirements for developing and changing organizations. They are able to identify that organizations will compete for talent in the near future. Conclusion Therefore it can be concluded from this assignment that international human resources management refers to management of human resources functions at the multinational companies. IHRM is bothered about managing the employees of different nations keeping in mind the change in demography, technology and the differences in culture and community. Apart from managing the basic functions of HRM such as recruitment, training and development, the IHRM also looks into the expatriate management. Cultural distance and institutional factors among other external factors affect the external environment which makes IHRM complicated. References Alfes, K., Shantz, A. D., Truss, C., Soane, E. C. (2013). The link between perceived human resource management practices, engagement and employee behaviour: a moderated mediation model. . The international journal of human resource management, 330-351. Armstrong, M. . (2014). Armstrong's handbook of human resource management practice. . Kogan Page Publishers. Brewster, C., Houldsworth, E., Sparrow, P., Vernon, G. (2016). International human resource management. . Kogan Page Publishers. Deresky, H. (2017). International management: Managing across borders and cultures. . Pearson Education India. Jackson, S. E., Schuler, R. S., Jiang, K. (2014). An aspirational framework for strategic human resource management. . Academy of Management Annals, 1-56. Kramar, R. (2014). Beyond strategic human resource management: is sustainable human resource management the next approach? The International Journal of Human Resource Management, 1069-1089. Lucio, M. M. (2013). International human resource management: An employment relations perspective. . Sage. Messersmith, J. G., Wales, W. J. (2013). Entrepreneurial orientation and performance in young firms: The role of human resource management. International Small Business Journal, 115-136. Obeidat, B. Y., Abdallah, A. B. (2014). (2014). The relationships among human resource management practices, organizational commitment, and knowledge management processes: A structural equation modeling approach. International Journal of Business and Management, 9. 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