The business world today is abuzz with rampant competition and all the firms are thriving to be on the market’s highest deck so that they remain within the customer’s priority preferences. In this vein, there has been a remarkable and consistent increase in the numbers of organizations that are internationalizing their operations. As more and more markets are internationalizing, more numbers of countries and their firms are integrating into the global economy. The expansion of these markets and firms, however, has tremendously contributed to the international movement of workers across boundaries.
Moreover, this expansion causes subjective issues concerning people, their management and their career development, that can often become extremely critical to the corporate citizens. In this setting, the concepts of international human resource management become doctrinal for the board of directors, managers and employees, assisting them in managing day-to day operations in the global business village.
The primary components of IHRM include
- HR Planning across the boundaries to ensure strategic resource implementation
- Recruiting and selecting the right talent in line with the organization’s policies
- Training and developing the selected talent with the required skills of working across boundaries to adapt into cross cultural environments
- Designing expatriate wage structures appropriately to ensure conflict-free workflow
- Appraising expatriate performance with geocentric involvement of home and host country managers
- Repatriating expatriate employees upon completion of project while taking care of reverse culture shock and rehabilitation requirements.