Human Resource Management in the Global Market
International human resource management refers to the issues that come about in respect to Internationalization of a business. Global firms are associated with the promotion of organizational efficiency and standardization.
Domestic and local businesses are less complex compared to international businesses in their nature and characteristics.
Employers have to develop Human Resource policies and procedures so as to handle challenges that are associated with global assignments such as deployment, cultural diversity, cost projections, compensation, assignment letters, family support, relocation assistance, benefits and tax programs.
There are three main issues that are associated with human resource management in international businesses.
The first issue is Expatriation in which key positions in overseas operations are assigned to expatriate workers.
Compensation is the second issue whereby expatriate and local workers compensation must be addressed alongside that of workers in the home country.
Last but not least is Repatriation. When an employee retires or finds it necessary to return his home country to continue working for the company, the human resource management must put this into consideration (Houseman 38).
The above issues have significant consequences on the performance and perspectives of expatriate and local workers and the human resource management staffing effectiveness.
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