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MB0043 Q1. Discuss the impact of Globalization on HR

The tendency of firms is to extend their sales and/or manufacturing to new markets abroad, and for business everywhere. The one element that is unique about every nation or company is its workforce.
A workforce that is knowledgeable and skilled at doing complex things keeps a company competitive and attracts foreign investment. Well-trained workers attract global corporations, which invest and provide employment opportunities to the workers, which in turn generate additional training and experience.
Technology: The most important use of technology in HRM is in an organization’s Human Resource Information system.
Trends in the nature of work: Technological and globalisation trends are in turn producing changes in the nature of jobs and work. Following are a few trends in the nature of work:
·         Information technology and personal computers have allowed companies to relocate operations to locations with lower wages.
·         Increased use of part time and temporary workers.
A service society: An enormous shift from manufacturing jobs to service jobs.
·         For service jobs new types of knowledge workers and new HRM method to manage them.
Knowledge work and human capital: The distinguishing characteristics of companies
today and tomorrow is the growing emphasis on human capital–the knowledge, education, training skills and expertise of a firm's workers.
·         This growing emphasis on education and human capital reflects several social and economic factors.
·         Now companies are relying more on employee’s creativity and skills.
Other trends affecting HRM: Equal employment opportunity laws that bar discrimination on the basis of race, age, religion, disability, sex or national origin, have been passed.
·         Virtually all managers are thus now legally bound to uncover and correct instances of discrimination.
·         Mandated health benefits, occupational safety and health requirements.
·         Union-management relations.
·         HR managers have to deal with all these legal constraints.
Workforce diversity: Diversity in the field of HRM can be defined as the situation that arises when employees differ from each other in terms of age, gender, ethnicity, education, etc.

Managing diversity means establishing a heterogeneous workforce to perform to its potential in an equitable work environment where no member or group of members has an advantage or a disadvantage.


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