The aim of this study is to review the contemporary issues in Human Resource Management (HRM) that affect organisational performance. The management of performance is very crucial for the overall production of labour. Management, therefore, carries the responsibility of assessing and improving the workforce’s output through individual staff development and informal organizational groups. The study is going to revolve around effects of globalisation on HRM, reviewing the most current developments and putting these issues in focus. Due to globalization, managers had to rethink the concepts of HRM, thus bringing a shift from earlier practices and concepts.
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There are factors that extrinsically influence the development and delivery of a corporate HRM practice. Firstly, there is an economic position surrounding a business. This involves issues such as whether banks are willing to lend money and on what conditions. Should banks be unwilling to give loans and are demanding in repayment of loans, the situation could be very unfavourable for a company and could greatly affect HRM. Political climate is another strong factor, where the government is bent on increasing taxes or cuts off departmental budget; this would have a significant effect on HRM too.
Intrinsically, the company’s strategies are especially pertinent. These factors determine how quickly the company forges ahead. Technological advancement also affects how HRM operates. Video conferencing could be a good illustration of this point and is used as a means to save time and resources on communication. These strategies and technological advancement are greatly influenced by extrinsic factors.
Due to changing trends of global competition and global recession, HRM calls for development of means of sustainable performance. Corporate entities are therefore re-evaluating their modes of operation and management. New technologies are being used, relocating workforce and changing the face of their organisations. Human resource managers hold the key to organizational efficacy and strategic business plans.
- To understand the contemporary Human Resource Management systems;
- To establish factors that affect Human Resource Management and the best way of dealing with the changing factors;
- To find out the significance of globalization on Human Resource Management.
Relevance of Research
This research is of substantial importance in the determination of global factors that have changed the face of HRM, and how to cope with these factors that are both internal and external. This research is also aimed at dissecting the employees’ engagement in corporations. It is important how managers involve their employees in decision-making and shaping policies, employees’ personal growth and development. It is also meaningful to understand and value the necessity to motivate employees and enhance their performance by adjusting to their social needs and preferences. The organisation should also take into account the need to create a fruitful working environment that enhances employees’ innovativeness and freedom to express personal opinions and ideas.
The human relations theory (Mayo 1933; Maslow 1954), sought to understand how psychological and other social factors influenced performance in the work environment. The focus shifted from the output of labor to recognition of people as an invaluable resource. From these humble beginnings Human Resource Management developed the concepts and practices that utilize this theory on a deeper level.
Henri Fayole (1841), on the other hand, considers six tenets of management as pillars of any good management plan and strategy. Among them are: planning, commanding, coordinating, organizing, forecasting, and controlling. However, with dynamism of life, only the correct balance of them all can work appropriately. Thus, to supplement these short comings of the imbalance, Human Resource Management changed too, to fit with the dynamics of today. There are massive reports and books that review this topic.
The research is dependent on HRM reviews and scientific database sources relevant to the issues that are contemporary in the HRM. Research comes mainly from the secondary materials such as reviews, books, seminal work, the internet, and other pertinent materials.