Trends and challenges in IHRM of Wesfarmers Report 2022

RUNNING HEAD: WESFARMERS 1
Trends and challenges in IHRM of
Wesfarmers
Student Details:

WESFARMERS 2
Executive Summary
MNCs are expanding their business across countries and HRM are facing challenges to
set uniform organization policies and culturally uniting the diverse populations in the formation
of one employee community. Furthermore, the role of HRM has evolved with the changes in
competitive market atmosphere which plays a strategic role in the achievement of any MNC.
There is an increase in competition globally and locally. Therefore, organization needs to
become resilient, adaptable, customer-focuses and agile to achieve the targets while expanding
business in foreign countries. Therefore, this report solely focuses on the new trends and
challenges faced by IHRM of Wesfarmers along with recommendations to overcome the
challenges faced by HR Managers and members.

WESFARMERS 3
Contents
Introduction......................................................................................................................................4
Trends and challenges......................................................................................................................4
Globalization................................................................................................................................5
Globalization of human capital................................................................................................5
Corporate and cultural differences...........................................................................................5
Employment and Tax laws......................................................................................................6
Long-distance communication challenges...............................................................................6
Demographic changes..................................................................................................................6
Ageing Population...................................................................................................................7
Generation Y............................................................................................................................7
A Surge in female employment...............................................................................................7
Technological changes in the employment market.....................................................................8
Better services to line managers..............................................................................................8
Enhancing management...........................................................................................................8
Effective recruitment...............................................................................................................8
Data management and critical analysis....................................................................................9
Recommendations............................................................................................................................9
Effective cross-cultural management..........................................................................................9
Short-term international assignments..........................................................................................9
Training and Development........................................................................................................10
Mobile and Flexible workforce.................................................................................................10
Stipulated timelines...................................................................................................................10
Experts’ advice..........................................................................................................................10
Leveraging technologies............................................................................................................10
Conclusion.....................................................................................................................................11
Bibliography..................................................................................................................................12

WESFARMERS 4
Introduction
Wesfarmers Limited is an Australia and New Zealand chemicals, trade, fertilisers,
manufacturing and safety produces, coal mining multi-national company. Headquarters of
Wesfarmers is in Perth, Western Australia with AU$65.98 billion of profit in economic year of
2016. Wesfarmers is the major Australian company in terms of revenue which now overtaking
MNCs like BHP Billiton and Woolworths. Wesfarmer has employee strength of approximately
220,000 (Wesfarmers, 2019). Additionally, the Board of Wesfarmers is robust advocate of
decent corporate governance. The Panel of Wesfarmers is dedicated in delivering a satisfaction
return to their shareholders and fulfillment of its corporate governance accountabilities and
responsibilities in the better interest of the organization and their shareholders. Wesfarmers
divisions are providing many job-specific and career developments of training opportunities
which covers technical knowledge, consumer service, leadership, teamwork and many more.
Furthermore, these programs are available for all employees. At a Wesfarmers level, the talent
team basically focuses on the capability and the potential of leadership team and general
managers who ensures the required capabilities, which are requires for the future to maintain the
model of leadership. Furthermore, Wesfarmers focus on standards of talent, which is developing
cross-divisional talent and help in individual development through highest and critical potential
leaders. Therefore, this report focuses on the Trends and challenges along with implications to
overcome the challenges and trends in Wesfarmers.
Trends and challenges
International HRM of Wesfarmers places highest focus on numerous responsibilities and
functions like orientation, relocation and conversion facilities to support employees to adapt a
new and dissimilar atmosphere outside the country. Additionally, in Wesfarmers selection of
employees needs careful evaluation of the personalities of the applied candidates (Hurn, 2014).
Development and training exceeds beyond knowledge and orienting training to comprise
sensitivity training and area experiences which enables the manager to comprehend the
understanding cultural differences in an improvised manner. The three chief trends and
encounters in IHRM of Wesfarmers are: