HRM Strategies
Globalization is changing the business world in many ways. Thus, strategic HR strategies are also affected when the company is expanding (Torrington et al. 2014). HR specialists should pay attention to specific factors that often shape the way the company develops. They have to make sure that newcomers will be able to complete the necessary tasks and that they will fit into the company that already has its established culture.
Thus, one of the factors that have an impact on HRM is the creative change any expanding company is undergoing. Halim and Ha (2010) stress that expanding companies often try to develop new products and they often try to enter new markets. This needs a strategic vision as well as a great deal of creativity and flexibility. Therefore, the company’s staff should be ready to generate new ideas and develop strategies to ensure the organization’s further expansion in specific markets. Expansion is associated with hiring new people. HR specialists should recruit people who have the necessary creative capacity to meet the needs of the growing company. At the same time, HR professionals have to make sure that the new employees will perfectly fit in. Training and development should be well-thought and should be based on the organization’s culture and cultural peculiarities of the region.
Another important factor that may affect the strategic HRM of the organization is the trends existing in the global and local markets. Friedman (2007) emphasizes the need for understanding global business trends, cultural peculiarities of the region, local employment practices as well as innovative methods, which will make HRM effective. The researcher argues that growing companies are expanding to other markets where quite different traditions and regulations may exist. HR professionals have to take these peculiarities into account. Otherwise, the company risks failing the competition. Anyim, Ikemefuna, and Mbah (2011) also stress that understanding local peculiarities is crucial for the efficient development of new divisions of the company. However, it is still necessary to employ methods and strategies that have been used in other settings. Certain global trends can positively affect the development of the company in this or that environment and make it more competitive as local companies often lag when it comes to the implementation of innovative HRM strategies due to the lack of resources or flexibility.
In conclusion, it is possible to note that the two factors affecting a growing company are local as well as global HRM trends and the need for creative capacity. Thus, companies have to employ both global and local HRM strategies to gain a competitive advantage and respond to the needs of new markets. At the same time, HR professionals have to make sure that they hire creative people who value flexibility and change as only such employees will be able to come up with innovative ideas that will facilitate expansion. Of course, it is crucial to make sure that all these strategies are consistent with the organization’s culture, as it will ensure the company’s sustainable growth.
Reference List
Anyim, FC, Ikemefuna, CO & Mbah, SE 2011, ‘Human resource management challenges in Nigeria under a globalised economy’, International Journal of Economics and Management Sciences, vol. 1, no. 4, pp. 1-11.
Friedman, BA 2007, ‘Globalization implications for human resource management roles’, Employee Responsibilities and Rights Journal, vol. 19, no. 3, pp. 157-171.
Halim, HA & Ha, NC 2010, ‘The impact of human resource management strategy on human resource outsourcing’, Jurnal Pengurusan, vol. 30, pp. 3-23.
Torrington, D, Hall, L, Taylor, S & Atkinson, C 2014, Human resource management, Pearson Education Limited, Harlow.