The Impact of Globalization on Human Resource Management

The Impact of Globalization on Human Resource Management Since the age of exploration and colonization, people of the world have been travelling and spreading their culture, religion, knowledge and resources throughout the world. This vast exchange causes globalization. In recent decades, the effect of globalization on economy, politics and society within individual countries has increased exponentially. Most notably, the system of trade between countries through import and export has significantly affected the standard of living, economy growth and general availability and affordability of products and services previously thought of as rare or luxurious. Globalization also affects the mix of people within a country due to foreign direct investment that provides the avenue for a foreign company to set up branches internationally. These branches are then staffed with host country nationals (HCN), parent country nationals (PCN), third country nationals (TCN) or a mix of the three. This affects how human resource management recruits, trains and pays their employees as each individual’s status is taken into account. Other aspects of human resources that are affected by globalization are forecasting due to the uncertainty of an international market; retention of staff as casualization of the workforce increases and contracting becomes the norm; policy consistency globally as well as several culture and cost related issue brought on by expatriation and outsourcing of the laborShow MoreRelatedImpact of Globalization on Human Resource Management4652 Words   |  19 PagesImpact of Globalization on Human Resource Management Bhushan Kapoor, Professor and Chair, Information Systems Decision Sciences, Cal State University, Fullerton, USA ABSTRACT The roles and responsibilities of Human Resources departments are transforming as the modern business faces pressures of globalization. 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