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2. Globalization and HRM

  • Definition of Globalization:

    • Increasing interconnectedness and interdependence of countries and their economies.
    • Involves the free flow of goods, services, capital, technology, and people across national borders.

  • Drivers of Globalization:

    • Technological advancements (transportation, communication)
    • Economic liberalization (reduction of trade barriers)
    • Political changes (regional economic integration blocs)
    • Global competition

  • Impact of Globalization on HRM:

    • Increased competition for talent
    • Emergence of global teams
    • Need for international assignments
    • Challenges in managing a diverse workforce
    • Ethical considerations (labor standards, human rights)

  • HRM Strategies in a Globalized World:

    • Global standardization: Implementing consistent HR policies across all global locations.
    • Local adaptation: Adapting HR policies and practices to meet specific needs of each local market.
    • Transnational approach: Balancing global standardization with local adaptation.
    • Developing global HR competencies: Equipping HR professionals with knowledge and skills to manage HR in a global context.

  • Challenges in Managing Global HR:

    • Cultural differences
    • Legal and regulatory compliance
    • Managing global mobility
    • Building a global HR infrastructure
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