University of PhoenixThe economic downturn has forced many companies to analyze its current operations to ensure that its business strategies include plans to overcome the current economy successfully. Unfortunately, the current economic state created a trend that have influenced many company leaders to make the necessary decisions that involved corporate restructuring or reorganization that impacted its human capital. Because of current market trends and the prevalent global competition, ensuring that the right people are in place is imperative in achieving company goals. Therefore, evaluating the role of human resource management (HRM) in response to trends in the current economy, globalization, technology, diversity, e-business, and ethics is imperative in aligning human capital with business strategies to achieve business and financial success.
Role of Human Resources ManagementThe role of HRM is valuable in an organization. According to Noe, Hollenbeck, Gerhart, and Wright (2007, p. 3), "Decisions such as whom to hire, what to pay, what training to offer, and how to evaluate employee performance directly affect employees' motivation and ability to provide goods and services that customers value."
However, HRM is also responsible for recognizing the poor performers and must face the task of terminating such positions if results are not aligned with company strategies. As a result, a company is left with a high performance human capital that will provide the company the advantage over the competition (Noe, Hollenbeck, Gerhart, and Wright, 2007, p. 5).
GlobalizationTechnology in communication has truly influenced many employers in looking at alternative solutions in achieving its strategic goals. For example, American companies are using outside agencies to manage its customer service because outsourcing helps a company focus on internal expertise and less time managing people, which also helps cut costs. Competition with oversees labor force is also affecting U.S. jobs because some companies are outsourcing to...