Critically assess the main implications of globalisation for HRM, and Essay

Critically assess the main implications of globalisation for HRM, and analyse the future challenges for people management within - Essay Example Most organisational systems in today’s global markets have had a continued decrease in investment. This happens amid the increasing middle level organisations’ call for more foreign direct investment and securing market positions in the competitive market. As a result, organisations have been forced to redefine their strategies. â€Å"Therefore, it is important for organisations to adapt to the changing environments, develop a resistance to negative market forces in an effort to achieve customer satisfaction† (Amos, 2008). Within the changing environment, human resource managers owe to formulate quick and immediate human resource strategies that will help an organisation retain its personnel while helping them develop their profession through training and seminars. There are enormous challenges surrounding the future of people management in any organisation setting. This calls for sufficient and constant attention on management of resources regardless of positive trends in results that often cause excessive optimism in the future financial status of the company. In fact, there is a need for a continuous development of effective Human resource plan and implementation at all levels. In so doing, the human resource should develop its capacity operationally as well as strategically. This should be done in a manner that compliments changes in an organisation while at the same time maintaining a strategic balance. In this case, sound human resource policies need to be put in place first before attempting more complicated changes in company practices are implemented. Introduction Globalization is the integration of the entire operations, processes and strategies of an organization in an effort to generate diversity of cultures, goods, services and facts. Since, globalization strongly emphasizes on diversity, it has a deep effect on the manner in which companies manages its operations and workers. Therefore, it is vital for the executive to underst and the impact globalisation has on human resource management. â€Å"Globalisation entails efforts meant to increase the flow of goods and resources across regional and international borders† (Amos, 2008). Moreover, globalisation encompasses the surfacing of corresponding organisational structures with a view to expand international financial activities and dealings. Human resource management has never received proper attention it deserves in today’s global economy. Most human resource managers lack basic skills of organisational management more importantly due to globalisation. It is important to note that business environment is a complex one today. The market has become more competitive and complex than it used to be due to globalisation. It is because of this competition and complexity that businesses strive to survive by focusing hard on competitive strengths in an effort to develop long term strategies for them. It has now emerged that most organisations have sta rted moving away from old ways owing to their inappropriateness in today’s competitive market. Indeed the new market environment calls for a new approach in human resource management as this saves organisations in the face of the upcoming global environment. â€Å"Numerous human resource management challenges have come up due to the rapid growth in business trends in the past few