Adapting HRM Practices to Globalization: Strategies for Success in a Borderless Economy
Keywords:
Human Resource Management, globalization, multicultural workforce, talent acquisitionAbstract
This study explores the evolving landscape of Human Resource Management (HRM) in response to key challenges in the contemporary business environment. It investigates the impact of globalization, multicultural workforce management, talent acquisition and retention, and technological advancements on HRM practices. Drawing on a review of relevant literature, the study identifies strategies for addressing these challenges, including fostering cultural competence, promoting diversity and inclusion, implementing effective talent acquisition and retention initiatives, and leveraging technology for enhanced HRM practices. By adopting a proactive and strategic approach, HR managers can navigate the complexities of globalization, workforce diversity, and technological changes to drive organizational success and sustainability. The findings underscore the importance of HRM in aligning human capital strategies with organizational goals, fostering employee engagement and development, and ensuring compliance with legal and ethical standards. This study contributes to a deeper understanding of the evolving role of HRM in addressing contemporary challenges and guiding organizational performance in a dynamic and competitive business environment.
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