International Human Resource
Added on 2020-02-23
15 Pages3551 Words89 Views
Business DevelopmentLeadership ManagementProfessional Development
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Running head: INTERNATIONAL HUMAN RESOURCE MANAGEMENTInternational Human Resource ManagementName of studentName of UniversityAuthor note
1INTERNATIONAL HUMAN RESOURCE MANAGEMENTTable of ContentsIntroduction......................................................................................................................................3Nature of International human resource management.....................................................................3Contemporary needs of business in strategic decisions...................................................................4Trends and challenges for IHRM....................................................................................................5Impact of these trends and challenges on the IHRM practices of Foster’s Group..........................7Cross cultural similarities and differences.....................................................................................10Criteria for selection and management of international managers................................................10Issues in international business......................................................................................................11Approaches to international human resource management...........................................................11Conclusion.....................................................................................................................................12References......................................................................................................................................13
2INTERNATIONAL HUMAN RESOURCE MANAGEMENTIntroductionThe international human resource management is basically similar to the management ofhuman resources through inclusion of various HR activities, payroll, talent managementprocesses along with processes of recruitment and selection of employees on an internationalscale. The IHRM includes all the major activities of managing human resources throughmanagement of business functions such as recruitment, selection, training, appraisal ofperformances and termination of employees too, all of which are done on an international levelfor promoting successful business operations and improve organizational efficiency. The variousfunctions of IHRM could help Foster’s Group in Australia to achieve the goals and objectivesand gain competitive advantage over its competitors in both local and international levels (Alfeset al., 2013). The topic will focus on the various trends and challenges for international HRMand its probable impacts on international business of Foster’s Group in Australia(fostersbeer.com, 2017). Nature of International human resource managementWhile managing IHRM within a multinational corporation, three different types ofemployees are involved such as the home country employees, host country employees and thehired country employees. The Home country employees find working at Foster’s Group the mostconvenient, because they stay at Australia only and this can allow them to work at the placewhere the corporate headquarter is located. The employees who belong from Australia where thesubsidiary is located are the host country employees whereas the employees who are neitherhome country employees nor host country employees, though work at the subsidiary corporate
3INTERNATIONAL HUMAN RESOURCE MANAGEMENTheadquarter re third country employees (Armstrong & Taylor, 2014). An employee from someother country working at the Australian Multinational corporation could be a third countryemployee. Institutional theoryis an important theory concerned with the international HRMpractices that allows for consideration of various processes to establish structures, schemes,rules, norms and routines as important guidelines for management of social behavior. Theinstitutional theory enables to combine the various components of IHRM, manage the HRMpractices on an international level, and ensure business success with ease and effectiveness. Thiskind of theory can help in managing proper flow of the global human forces and form powerstruggles (Bratton & Gold, 2012). Contemporary needs of business in strategic decisionsThere are various contemporary needs for business in making strategic decisionsincluding gaining sustainability related to finance, environment and even enabling propercertification and licensing to manage the business functioning properly. Foster’s Group is knownfor its good quality beverages including Wine and beer and so proper management of supplychains is essential. The contemporary needs of the organization include gaining sustainability bytaking care of the vineyards, extract the best quality juices and make great wine and beer, whichcan ensure running business responsibly and generating huge amounts of profit in business.Enough revenue should be generated so that it could cover the costs and continue the businessoperations to meet the contemporary needs of gaining financial sustainability (Brewster et al.,2016). Foster’s Group, Australia has good amount of capital and enough funds to meet theobjectives of the organization and make premium quality wine so as to remain successful in thebusiness long run.
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