Many companies are seeking an opportunity to expand their business overseas. However, each country has different cultural and market. In order to enable the expansion, Global HRM is needed to recruit, manage & help the employees are able to work in the overseas company. Global HRM also need to understand how to manage & integrate between people & company in the global context.
There are several key features of Global HRM:
1. Planning & Recruitment: Global HRM team need to plan carefully for the recruitment & the policy. At the end, Global HRM team is required to select the most suitable employee for the company. Recruitment can be done in 3 ways such as: Ethnocentric Approach (sending the people from parents company to overseas company), Polycentric Approach (hiring local people), Geocentric Approach (mix of both).
2. Salary: There are 3 types of salaries: based salary, foreign service premium & allowances (based on the status and needs).
3. Training & Development: Training & Development are able to help the employee adapt with the work and also make sure they are ready to work. In addition, company must keeping checking their employee performances.
Global HRM is really interesting & challenging because a lot aspects need to be overseen such as: technology development, language, social politic, law & cultural. However, it will be very beneficial for the company because they can expand internationally.