Management Ã¯Â¿Â½ PAGE \* MERGEFORMAT Ã¯Â¿Â½9Ã¯Â¿Â½
Running head: HUMAN RESOURCE MANAGEMENT AND THE GLOBAL MARKETPLACE
Human Resource Management and the Global Marketplace
March 27, 2010
The 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.
More 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 Practices
Different 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...