HR_Chapter 17.doc

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University of Waterloo
Human Resources Management
HRM 200
Katrina Di Gravio

Chapter 17 Managing Human Resource in a Global BusinessGlobalization of Business and Strategic HRVast majority of companies are finding that their success depends on their ability to market and manage overseas globalization means that companies must be managed globallyHR is one of the top three most important business functions in executing global strategyrelocation specialists a strategic partner as family issues have resulted in move to shortterm relocations extensive research may be required in regards to local hiring practices the availability of skilled labour and employment regulations as companies have gone global the number of their employees abroad has increasedfamily issues rank as the number one concern when it comes to employee relocation Three Broad Global HR ChallengesDeployment of skills where neededKnowledge and innovation disseminationIdentifying and developing talent on a global basisPractical Issues for Global Employeescandidate identification assessment selection who can do itglobal assignment cost projectionsspecific assignment letterscompensation benefits and tax programsrelocation assistancefamily support according to survey a typical relocating employee is a male manager aged 3640 years with a working spouse an income between 70 000100 000 and most likely a home owneran employee who rejects relocation will most likely do so because of concerns regarding children compensation and the spouses career issues are important because of the cost of expatriate failureearly return from an expatriate assignmentcan result in costs in excess of three times the employees salary todays expatriates are heading to china india brazil Russia mexico Singapore and hong kong Intercountry Differences Affect HRMalthough a multitude of cultural and ethnic backgrounds are represented in the Canadian workforce various shared values help to blur the otherwise sharp cultural differences a company that is operating multiple units abroad is generally not blessed with such relative homogeneity twothirds of the worlds nation are corrupt places to conduct business Intercountry differences Cultural factorsin different countriesprovinces oHofstede says that societies differ in power distance individualism vs collectivism masculinity vs femininity
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