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Executive Summary Southern Group Co.Ltd

   

Added on  2021-05-03

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Business DevelopmentLeadership ManagementLanguages and CulturePolitical Science
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Executive Summary Southern Group Co.Ltd_1

UNIVERCITY OF MAHATMA GANDHIINTERNATIONAL HUMAN RESOURCS MANAGEMENTMay 2017SHEHAN PERERATEL : 077 3378673ID NO: 2015/MGU/MBA/12-07
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EXECUTIVE SUMMARY Southern Group Co.Ltd. is heading their way for Globalized Business ascurrently trade liberalization and technological advancements haveencouraged companies to expand internationally and trade their productsand services on a global scale. The world’s largest companies havestretched across borders to the point where they have greater operationsand more employees in other parts of the world than in their countries oforigin.Binding companies through infrastructure and trade links brings greatopportunities, but it also increases operational risks. Seismic events,whether economic, political, regulatory or societal, impact the entire valuechain in developing and developed countries.To ensure that Southern Group is heading in the correct path it is vital todirect its employees properly. This Human Resource Plan is setup havingthe said intention as the Company is now moving to its new era ofGlobalized business.iiiINTERNATIONAL HUMAN RESOURCS MANAGEMENT –SHEHAN PERERA
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ContentsEXECUTIVE SUMMARY..................................................................................III1INTRODUCTION................................................................................62GLOBAL EXPANSIONS PLANS OF SOUTHERN GROUP.............72.1Establishment of standards for the roles......................................82.2structure for developing employees in Sri Lanka.........................82.3development of multicultural management skills.........................92.4Improvement of global business skills........................................102.5Encouraging all employees to adopt a global mind-set.............102.6Global career path..........................................................................112.7Strengthening human resources functions.................................112.8Global human resources governance system.............................122.9Global human resources meeting.................................................123INTERNATIONAL HUMAN RESOURCE MANAGEMENT.............133.1Trends..............................................................................................133.1.1International Recruitment and Hiring...........................................143.1.2Progressive Approaches to Benefits and Compensation..........153.1.3Introduction of Social Media.........................................................153.1.4Professional Development............................................................153.2Challenges.......................................................................................163.2.1Change Management......................................................................163.2.2Leadership Development...............................................................163.2.3HR Effectiveness Measurement....................................................173.3Implications.....................................................................................184IHRM FUNCTIONS...........................................................................204.1Recruitment and Selection............................................................204.2Training and Development............................................................214.3Performance Management.............................................................235.RECOMMENDED APPROACHES..................................................246.CONCLUSION..................................................................................277.References........................................................................................28ivINTERNATIONAL HUMAN RESOURCS MANAGEMENT –SHEHAN PERERA
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1INTRODUCTIONBorders are no longer restrictive. Companies are not constrained by the physicalboundaries of the countries where they are located and can now choose from the besttalent available to build innovative and competitive global workforces.Many workers in emerging countries are as skilled as those in developed countries;women outpace men in higher education; and older workers are staying in their jobslonger. Businesses no longer have a “typical” worker—diversity in terms of gender,ethnicity and religion abounds within organizations.To understand how the make-up of the global workforce has shifted and willcontinue to do so, it is crucial to first explore the forces that are driving thesechanges in a way of a Human Resource Plan. Expansion of transnationalcompanies, migration patterns and technological advances are thecharacteristics of an increasingly globalized world and economic system. Ofcourse, with the increased diversity and internationalization of the workforcecomes the unavoidable clash between personal culture and corporate culture.Additionally, there are new challenges associated with global operations—including human and labour rights violations, corruption and local regulations—that have forced Southern Group to look for new ways to manage risk whileincreasing opportunity.1INTERNATIONAL HUMAN RESOURCS MANAGEMENT –SHEHAN PERERA
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2GLOBAL EXPANSIONS PLANS OF SOUTHERN GROUPFigure 2: Plans for Global ExpansionSouthern Group’s employees around the world must always think from theheadquarters’ perspective in order to demonstrate leadership. The humanresources department uses various opportunities and tools to convey andshare with employees messages on the importance of thinking of Sri Lanka asjust one area in the world and of changing one’s mind-set to work with a globaloutlook. Following expansions pertaining to Human Resources have beenadopted by the Southern Group to success in global business.2INTERNATIONAL HUMAN RESOURCS MANAGEMENT –SHEHAN PERERA
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