Human Resource Management in the Global Environment

Human Resources Management in the Global Environment 1 Human Resources Management in the Global Environment Today’s job market is rapidly becoming globalized and more companies are entering into international markets in a variety of ways. Some companies are building plants in other countries, some companies are exporting products overseas, and some are entering into alliances with foreign companies. No matter how the involvements begin, the reality is that in today’s world, managing global human resources is something that is growing. Global competition is driving changes in organizations throughout the world. Companies are attempting to gain a competitive advantage and a way to accomplish this is to expand internationally.†¦show more content†¦Human Resources Management in the Global Environment. The Journal of American Academy of Business, Cambridge. Vol. 8, Num. 1, 120-121) Five major functions of global human resource management are (1) recruitment and selection, (2) development and training, (3) performance evaluation, (4) remuneration and (5) labor relations. When recruiting new employees, the classification of the employee is very important. The company should focus on allowing a balance between the practices of their own country and others to ensure the person they hire fits the personal characteristics fit for the job. It is very important for companies to have managers with a global perspective. Providing various trainings and developmental opportunities is a way to ensure managers are kept familiar with current procedures and current events. The ability to learn what others are doing in another country can be found beneficial to others, as incorporating new techniques can allow for growth and development. Performance evaluation is going to depend on the overall strategy set forth by human resources. Companies must evaluate employees from different countries which can be a very difficult task because consistency for performance comparisons is conflicted with the background of people of different cultures. There are two major concerns when formulating compensation for employees from different countries. The first is the complexity which arises when trying to give a comparable andShow MoreRelatedHuman Resource Management (HRM) in the Global Environment Essay examples2826 Words   |  12 Pagescultural understanding and tolerance. (Okpara, 2008. p 30.) Global enterprises face the challenge of managing and developing human resources in the global setting. International or global resource management is about the world-wide management of individuals, not simply managing expatriates. (Moti, 2011) This paper will discuss key skills and qualifications that are deemed necessary for an overseas assignment for an individual in a management position. 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