Approaches of Global HRM
Fundamentally there have been different approaches to International Human Resource Management.
1、Ethnocentric Approach: This approach believes that Parent country practices should be followed in all countries in managing Human Resources. They are good enough to manage in-country.
2、Poly-centric Approach: This approach of IHRM believes that the host country practices and culture are relevant and IHRM must give blend host country practices in managing Human Resources to make it effective.
3、Regiono- centric: This approach gives importance to commonalities of a region and adopts practices of the region. Thus practices vary from region to region.
4、Geo-Centric: This approach is much matured and accepts that practices in different geographies have different strength. Thus best practices should be adopted in different countries it may be from any geographies.