International Human Resource Management

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International Human resource management can be defined as ‘Identifying and understanding how multinational organisations manage their geographically dispersed workforces in order to leverage their H.R resources for both local and global competitive advantage.’(Beardwell et al 2004).The objective of my essay is to explore the BRIC emerging economies, and come to a conclusion, on the implications for an Irish based HR Management system, working with these emerging markets. Emerging markets are developing countries this in itself creates its own issues in areas such as cost control, cultural issues and language issues. Firstly it needs to be discussed, why these countries are so important, and the implications these have on an Irish based Human Resource management system. The most commonly used definition in the management literature is ‘Emerging markets are defined as low income, rapid growth countries using economic liberalisation as their primary engine of growth. (Hoskisson et al 2000) cited in (Sauvant, 2008). It can be seen that there has been a shift to knowledge based growth in emerging economies. As can be seen in (Sauvant, 2008) that we don’t have dual economies but triple economies in China and India.(Sauvant, 2008).The BRIC are both the fastest growing and largest emerging markets economies.(Sauvant, 2008) They account for almost three billion people, or just under half of the total population of the world. (Sauvant, 2008). The BRIC have also contributed to the majority of world GDP growth recently. (Torrington et al 2011). There are many implications which will be discussed throughout the course of this essay such as competition between these emerging markets, emerging market strategy, flexibility between these markets and the cost control element between these markets. There are many implications for an Irish based HRM working with these emerging markets in areas such as managing a diverse team, regulation and ethical awareness. There are many challenges of managing a diverse global workplace such as the BRIC emerging economies that will be discussed in this essay. The aim for HRM is to continue to up skill there staff and try and convince people to go and work in these countries. From an employee perspective, there are many barriers from entering into these economies the first being the language barrier. HRM needs to be aware of all the areas such as cultural and language issues. HRM needs to try and help and meet employee needs in all of these areas. Not only do employers want to keep with the times in areas of training so do employees. HRM needs to be aware and understand key ethical issues and concerns. As economic growth in Europe and America is declining and struggling to reach the levels that it had in the past, emerging markets are starting to attract attention and become popular. (www.investec.ie).There are many challenges for HRM one of them being globalisation. Human resources are best positioned to help an organisation to be successful and bring its organisational strategy to life all across the world. (Lundby and Jolton 2010) A company can gain competitive advantage by focusing on their employees key strengths, skills and talents (Lundby and Jolton 2010). Human resource systems and processes are designed to ensure the order and positioning between the companies strategy and the organisations efficiency.(Lundby and Jolton 2010). Human resources provides value in its ability to attract develop and keep the best talent for the company so that they maintain competitive advantage. (Lundby and Jolton 2010) There are many H.R challenges that businesses face in trying to manage globalisation and doing business with the emerging BRIC economies. (Lundby and Jolton 2010) . Human resource strategies need to support and bring business strategies to life. In order to be able to do this HRM professionals must be fully aware and understand the business environment and the key talents in the organisation (Lundby and...
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