Global Human Resource Management- New trends in HR management
The advent of globalization has led to the expansion of the organizations beyond geographical boundaries. The multicultural and multinational environment prevalent in an organization is seen in the diversity and cultural sensitiveness of its workforce. It’s a recognized fact that global business success is dependent on the ability of organizations to acquire and develop the best employees from around the world. People are pivotal to both global corporations’ survival and the wealth of nations. Further, the need for the global corporations to manage their human resources effectively, has led to global human resource management as a major strategic tool to strengthen the competitive position of these organizations.
A global corporation faces the challenge to maintain a local appeal in a host country without losing out on their international identity. The global human resource management paves way for the organizations to meet such challenges. The human resource management team works with an objective to generate cross-cultural sensitivities among globally located managers. Further they prefer hiring of staff across geographical boundaries and train them as per the cultures and sensitivities of the host country. They also need to ensure that global HRM policies are in tandem with, and in support of the organizations strategy, structure and controls.
International organizational strategies include a combination of centralized and decentralized decision making, with the core competencies are centralized and the rest are decentralized. Similarly, being a cross-cultural environment, it requires a high degree of coordination and control with a number of integrating mechanisms in place.
Being a very challenging task, most global organizations look for perfect human resource partner companies, one that can tailor a benefits package, specializing in the design and delivery of comprehensive HR & employee benefit services. Since multinational companies with a global workforce require efficient human resource administration, it is necessary that the HR organizations partnering with them should have an extensive industry expertise and good credentials in areas such as insurance, employee benefit consulting, retirement plans.
The Global human resource management organizations, which have carved a niche in employee benefits consultancy and administration, provide a spectrum of services, which includes Benefits Consulting and Procurement, Healthcare Cost Management, Eligibility Management, Legislative Compliance, Executive Benefit Consulting and an Online Employee Center. These organizations also facilitate their client company to provide their employees with firm human resources solutions specifically directed to employee benefits, payroll services, and the diverse and demanding needs of a globally mobile workforce.
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