Here is below an answer for the question:
Social and Economic Reasons for the Transition in HRM:
- Globalization: As companies expand internationally, HR needs to manage a diverse workforce, adapting policies to different cultures, laws, and markets.
- Talent Mobility: With companies needing top talent worldwide, HR now manages relocation, international assignments, and visas.
- Technological Advancements: Remote work and digital tools have made managing a globally dispersed workforce easier, requiring HR to support virtual teams.
- Demographic Shifts: Changing workforce demographics, like aging populations and youth in emerging markets, demand strategic talent management.
- Competitive Advantage: HR is now integral in giving organizations a competitive edge by effectively managing talent globally.
Evolution of HR Functions and Roles:
- Strategic Focus: HR has shifted from an administrative role to a strategic one, aligning human resources with business goals.
- Global Mobility: HR now manages global mobility, including expatriate assignments and international recruitment.
- Diversity & Inclusion: HR promotes inclusive practices to manage diverse teams across different regions.
- Employee Experience: HR focuses on supporting employee well-being, especially for those on international assignments.
- Learning & Development: HR emphasizes training for leadership in diverse environments and managing remote teams.
Conclusion:
HR has evolved to support global strategies, focusing on talent mobility, employee experience, and strategic leadership, making it a key factor in organizational success.