As the organizations continue to grow globally at a rapid pace, nations are increasingly permeable to the international exchange of knowledge, capital, goods and services, giving rise to more complexities and uncertainties. Intensified rate of globalization is evident from the changing trends in foreign direct investment which is increasingly indicating a shift toward developing economies like China and India. Growing internationalization is breaking down organizational and geographical boundaries with business processes and structures undergoing complete transformation. This has brought the role of human resources to the fore as the competitiveness of these organizations is contingent on their ability to adapt and design human resource strategies that can sustain global nuances and dynamics. International human resource management (IHRM) from an organization’s perspective is defined as the effective management of human resources in global markets for multinational companies(MNCs), in order to gain a key source of competitive advantage and to be globally Continue reading
International HRM
International Human Resource Management (IHRM) – HRM from an International Perspective
International Human Resource Management International Human Resource Management (IHRM) involves ascertaining the corporate strategy of the company and assessing the corresponding human resource needs; determining the recruitment, staffing and organizational strategy; recruiting, inducting, training and developing and motivating the personnel; putting in place the performance appraisal and compensation plans and industrial relations strategy and the effective management of all these functions from an international perspective. The strategic role of HRM is complex enough in a purely domestic firm, but it is more complex in an international business, where staffing, management development, performance evaluation, and compensation activities are’ complicated by profound differences between countries in labor markets, culture, legal systems, economic systems, and the like. It is not enough that the people recruited fit the skill requirement, but it is equally important that they fit in to the organizational culture and the demand of the diverse environments in which the organization Continue reading
EFQM Excellence Model
The European Foundation for Quality Management (EFQM) Excellence Model was introduced in 1991 as the framework for organizational self-assessment and as the basis for judging entrants to the European Quality Award, which was awarded for the first time in 1992. A number of factors have encouraged many western countries to introduce quality awards. Among these were: the importance of quality for competitiveness, and contribution of benchmarking and self-assessment techniques to improving performance. The award models are used extensively throughout the world by leading companies and can thus be used for international benchmarking comparisons. A framework designed to assist organisations achieve business excellence through continuous improvement in the management and deployment of processes to engender wider use of best practice activities. It enables the calculation of scores against a number of criteria that can be used for either internal or external “benchmark” comparisons. It is hoped that the results of these Continue reading
Electronic Human Resource (e-HR)
e-HR stands for Electronic Human Resource. The term e-HR refers to deal Human Resource Management transactions using an internet. E-HR aims to keep information available to employees and managers at anywhere at any time. E-HR may include organizations HR portals and web applications, Enterprise Resource Planning, HR service centers and interactive voice response. There are three identified levels of e-HR such as publishing of information (delivered by intranet medium), automation of transactions with integration of workflow (intranet or extranet used) and transformation of the HR function (redirect HR function towards a strategic one). E-HR is characterized in field of HRM as having numerous innovations in Technology and it provides wider potential in term of usages including employee self service, information sharing, functions administration and production of reports. e-HR make use of technology to create a real-time, information-based Self-service, interactive work environment. With e-HR, managers can access relevant information and data, Continue reading
What is Workforce Diversity?
Workforce diversity is when a job hires people that are different or similar and puts them in the same workplace to work together. It’s basically the bringing together of different people to one workplace. Some things that would make them similar or different could be their age, background, physical abilities, disabilities, race, religion, gender, and sexual orientation. Workforce diversity is important because it lets companies grow and become more competitive. With workforce diversity comes many great perks and benefits such as creativity, innovation, and a great reputation. Having diversity in the workplace gives a company a lot of great and different types of talent. With this it makes the company more profitable and even more successful. With diversity in the workplace it can be a way to solve issues and customer needs many different ways. Diversity cause many new ideas for companies. With diversity a company gets local connections, different Continue reading
Developing a Global Management Cadre
Global management of business is increasingly important to almost all business firms today as they extent their business operations globally. As the international business of a firm increases, the firms must be managed globally. This confronts managers with many new challenges, including coordinating production, sales, and financial operations on a worldwide basis. As a result, companies today have pressing international HR needs with respect to selecting, training, paying and repatriating global employees. Inter-country differences affect a company’s HR management processes. Cultural factors suggest differences in values, attitudes, and therefore behaviors and reactions of people from country to country also change. Differences in economic and labor cost among countries are also important and will help to determine whether human resources emphasis should be on efficiency, commitment, or some other factors. Industrial relations between the worker, the union, and the employer influence the nature of a company’s specific HR policies from country Continue reading