What are the basic HRM issues/challenges to be addressed by an international business?
This post is adapted from “High-Impact Human Capital Strategy: Addressing the 12 Major Challenges Today’s Organizations Face,” (AMACOM, August 2015) by Jack
Phillips and Patti Phillips of the ROI Institute. If you enjoyed this article, join SmartBrief’s e-mail list for our daily newsletter on HR, recruiting and retention. It is one thing to sell products and services to a global market base when the need is there and the consumers want the product, but it is another thing entirely to employ a foreign workforce to make that happen in each country. From the very first time that a company has employees in another country, it faces many issues. There are 10 very important challenges that are faced by most multinational companies:
These challenges are consistent with those found in many studies. For example, IBM’s most recent “Global Chief Human Resources Officer Study” identified developing agile leaders, retaining critical talent, improving productivity, and sharing knowledge as very important challenges for today’s environment. The human capital strategy should direct some very important, and sometimes sensitive, issues:
What are the basic HRM issues to be addressed by an international business?Rules, Regulations and Labor Rights
Safety rules, labor practices and compensation can differ from one country to another. Harmonizing employment policies, labor administration, and industrial relations is a difficult task for international business.
What are international HRM issues?There are many issues such as political-legal, labour market, different cultures,language barriers and employment practices that are constraining MNCs seekingto standardise their original practices in the host country.
What are the challenges of international business?5 Common Challenges of International Business. Language Barriers. ... . Cultural Differences. ... . Managing Global Teams. ... . Currency Exchange and Inflation Rates. ... . Nuances of Foreign Politics, Policy, and Relations.. What are five key human resource issues that a global HR manager needs to address as an organization expands into international markets?We're going to look at seven aspects of international human resource management that you should be prepared to handle to make your expansion a success.. Recruiting and hiring staff. ... . Complying with employment regulations. ... . Running payroll. ... . Managing compensation and benefits. ... . Navigating cultural differences.. |