The evolution of HRM into a global context is primarily driven by globalization. Globalization refers to the increasing interconnectedness of economies, cultures, and societies worldwide. As companies expand their operations into foreign markets, they need to manage their human resources in a global context. This involves adapting HR practices to different cultural, legal, and regulatory environments.
Global HRM Key Features
- Cultural diversity: Manage employees from different backgrounds.
- Legal compliance: Comply with labor laws in multiple countries.
- Global talent: Attract, develop, and retain talent worldwide.
- Compensation and benefits: Offer competitive and culturally appropriate rewards.
- Cross-cultural training: Prepare employees for different cultures.
- Expatriate management: Support employees working abroad.
- Global knowledge management: Share knowledge and expertise across the organization.
- External Challenges: To be aware of political, economic, technological and ecological challenges