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An evaluation of strategic human resource management

   

Added on  2020-05-28

22 Pages5833 Words919 Views
Running head: EVALUATION OF HRM STRATEGIESEVALUATION OF HRM STRATEGIESName of the StudentName of the UniversityAuthor Note

1EVALUATION OF HRM STRATEGIESExecutive SummaryThe aim of this report is to discuss about the initiation of the effective strategy of humanresource management by KIA Motors in their operation in India. The business environmentof India is being discussed this report along with determining the challenges andopportunities to be faced by KIA motors in operating in India. In addition, variousapproaches related to human resource management are also been discussed in this report.Various theories of human resource management are being discussed, which will help KIAmotors to effectively manage their employees. This report concludes with providing variousrecommendations according to the issues to be faced by them in the Indian market.

2EVALUATION OF HRM STRATEGIESTable of ContentsIntroduction....................................................................................................................3Determination of the external environment of India......................................................4Employee Involvement..................................................................................................7Importance of Human resource management in employee engagement...................7Reward management......................................................................................................7Initiation of the reward system...................................................................................7Initiation of Transformational leadership...................................................................8Evaluating the effectiveness of HRM strategies............................................................8Analysis of the differences between global HRM strategies.........................................9Training and Development...........................................................................................11Relationship between organizational performance and HRM.................................11Analysis of the national, cultural and organizational issues........................................13National issues related to HRM...............................................................................13Cultural factors affecting HRM strategies and training expatriate..........................13Organizational factors that affect HRM...................................................................14Performance management........................................................................................14Performance appraisal methods...............................................................................15Management skills required in international business.................................................15Conclusion....................................................................................................................16Recommendation..........................................................................................................17References....................................................................................................................18

3EVALUATION OF HRM STRATEGIESIntroductionThe current business scenario is much more competitive in nature than it was a decadeago. This is due to the reason that, more business organizations are entering in a particularbusiness sector, which is further increasing the competition and reducing the profitability.Thus, majority of the contemporary business organizations are opting for globalization inorder to enter in new foreign countries and to enhance their market share and market presence(Cavusgil et al., 2014). However, initiation of the globalization requires updated andcustomized approach of the human resource management. This is due to the reason that, thebusiness environment in the home and host country will be different and thus, organizationswill require customized approach of human resource management according to the criterionof the host country (Beardwell and Thomson 2014). The more effective will be the policies ofthe human resource management; the efficient will be the business operation in the hostcountry.KIA motors are one of the leading automobile organizations in the world based inSouth Korea. They are having their brand presence in different countries around the worldwith having their product portfolio ranging from SUVs, hatchbacks to Gran Tourismo andelectric vehicles(Kia.com 2018). However, being one of the largest automobile markets in theworld, India is not still having the access to the vehicles of KIA. In the recent time, KIAmotors have initiated the process to enter in the Indian market by 2019. However, they willrequire effective policies and strategies of human resource management in order to suit theIndian environment. This report will discuss about the probable approach of human resource managementto be adopted by KIA Motors in doing business in India. Moreover, the business environmentof India as the target country will also be analyzed in this report. In accordance to the Indian

4EVALUATION OF HRM STRATEGIESbusiness environment, strategies of human resource management will be discussed in thisreport. Determination of the external environment of IndiaPolitical India is having the largest democracy in the world and having stable political scenario.Taxation system is also well developed, which will have favorable impact on the business of KIA motors.However, the higher rate of tax will cause extra costburden on the organization (Bose and Jalal 2017).In the recent times, government of India is promoting “Make in India” initiatives to attract foreign investments (Goswami and Thakur 2016). Business friendly initiatives are being promoted by the government by offering special economic zones and taxincentives.Economical Since 1991, India is one of the most liberal and business friendly countries. In the case of the automobile sector, India is having the opportunity of 100 percent foreign direct investment. India is being considered as one of leading developing countries in the world with having the highest GDP growth rate in the world (Malhotra 2014). Thus, KIA Motors will have huge business opportunity in India.However, major population of India is still under the poverty line and thus, the target market will not equal to

5EVALUATION OF HRM STRATEGIESthe total population. Social India is the second largest populous country in the world. Thus, the market opportunity is huge in India.Middle class society is rapidly increasing in India and thus, it will be huge opportunity for KIA motors to sell their affordable models in India (Binswanger-Mkhize 2013).India is the largest country in terms of youngest population. Thus, maximum population is in the verge of starting their professional career. This is an opportunity for KIA Motors to target the young professionals. However, Indian market is already having huge number of competitors in the automobile sector. Thus, it will be a challenge for KIA Motors to gain market share bycompeting with the established players. Technological In the recent time, India is witnessing huge growth in technological sector due to increase in foreign players and investments. India is having one of the largest IT sectors in the world. Thus, it will be easy for business organizations to have the access to the latest IT solutions (Jha 2013).India is having low cost access of the updated technologies. Thus, the cost incurred in technology will be less for KIA Motors.However, KIA Motors will require more updated technologies to develop cheaper and fuel efficient small

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