The importance of globalization in the business environment has led to companies inculcating global HRM systems. In order to sustainably grow, organizations are now required to push for an internationalized HR. This has especially become prevalent following the development of communications, improvement in transportation, and the ease of importing and exporting goods and services. Keeping the 6 core areas of HR in mind, while also maintaining solutions to internal and external challenges that may arise in an international atmosphere, companies must adapt their policies to best fit into the host countries that they have expanded to. This requires focus on very specific features of HRM.
The key features of global HRM are as follows:
1. Recruitment - including searching and screening potential employees, evaluating them, and bringing them onboard.
2. Salary and Benefits - including wages, allowances, and rewards.
3. Training - including assessments, evaluation, and skill-building.
By planning HR policies that encourage international recruitment, development of skillsets, expatriate renumeration and performance appraisal, and repatriation, companies are preparing themselves for long-term success and profitability.