Analyzing the Future Role of Human Resource Management (HRM)

This essay examines the contemporary state of Human Resource Management (HRM) within international business organizations, emphasizing the transformative pressures of digital advancement and globalization. It evaluates the evolving role of HRM policies and their contribution to improving organizational practices, particularly in the context of global talent acquisition, development, and retention. The essay highlights the increasing relevance of HRM in managing a culturally diverse and virtual global workforce, arguing that effective human capital management is crucial for achieving a sustainable competitive advantage. Ultimately, it posits that the significance of HRM is set to grow in the coming decades due to the rising demand for skilled employees in the next-generation business landscape.

Running head: FUTURE OF HUMAN RESOURCE MANAGEMENT
Future of Human Resource Management
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This essay intends to present the contemporary scenario of human resource
department within international business organizations. It will further evaluate the role of
HRM policies and its contribution towards betterment of organizational practice in future
days. According to Bondarouk and Brewster, (2016), The roles and accountabilities of this
particular department is going through a transformation as the contemporary business firms
are confronting with pressures of digital advancement and globalization. In order to sustain in
such a competitive market, regular operations are needed to execute efficiently. Therefore,
technically companies are in search of global talents as well as to develop and retain human
resource, the relevance of HRM department is increasing in contemporary organizational
practice. As per the study of bin Atan, Raghavan and Mahmood, (2015), the future of HRM
can be considered prosperous as it is directly integrated with the both the employees and
organization’s performance.
In this context, if the example of multinational IT companies are taken; the impact of
globalization can be experienced precisely (Deadrick et al., 2015). Most of the companies are
working on foreign projects due to the shortage of talent in developed countries. As argued
by Vaiman, Haslberger and Vance, (2015), the challenge is to reduce the gap between
worldwide shortages of talent as compared to its demand. According to the market trend, the
necessity of HRM is increasing as the time progresses because of high demand of the skilled
employees for serving business requirements of next generation. The global workforce is
highly culturally diverse, carries different lingual background and its virtual nature demand to
be managed efficiently. Companies with long term objectives, if are capable of managing and
estimating the human capital properly, likely to gain immense competitive advantage.
Therefore, it can be stated that human resource management is relevant to the context of
accomplishing organizational goals. As per the market trend, the significance of HRM is not
going to decline in coming two decades.

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References
bin Atan, J., Raghavan, S., & Mahmood, N. H. N. (2015). Impact of training on employees'
job performance: A case study of Malaysian small medium enterprise. Review of
Management, 5(1/2), 40.
Bondarouk, T., & Brewster, C. (2016). Conceptualising the future of HRM and technology
research. The International Journal of Human Resource Management, 27(21), 2652-
2671.
D. L., Deadrick, D. L., Lukaszewski, K. M., & Johnson, R. (2015). The influence of
technology on the future of human resource management. Human Resource
Management Review, 25(2), 216-231.
Vaiman, V., Haslberger, A., & Vance, C. M. (2015). Recognizing the important role of self-
initiated expatriates in effective global talent management. Human Resource
Management Review, 25(3), 280-286.