In: Economics
How to develop a global HR plan.
In 3000 words (6-7 pages) please include 5 references and 2 journal articles. The paper should address the following questions. (Select based on which paper you will research)
The future of HR paper: What has been the evolution of the HR function? What are the emerging trends which affect the industry? Where does the research indicate that the industry must change and why? Which external factors are influencing changes in HR? How do the new workforce and the ways in which people are now working affect the role and future of HR?
Measurement paper: How to measure the value of HR? Which are the most important elements to measure in the HR function and how do they impact people and the business? Give three examples of companies and how their HR function measures their success? Explain the growing use of data analytics in the use of HR measurement. Which are the key emerging indicators to measure HR performance and which measurements are no longer useful or needed?
Global HR paper: What are the key factors to consider when HR expands globally? How should HR select and prepare people for ex-pat assignments? What should HR do to ensure that local cultures are taken into consideration when developing a global HR strategy? How should the HR organizational structure be established when expanding globally? Which home country (corporate) policies should be modified to incorporate local culture abroad?
Evolution of HR function :
The HR function has three different stages in evolution that are:-
Business function: Personnel administrative role
Example: employee data management, payroll, attendance.
Business Partner: Fulfilling 'business needs'. The business partner is being replaced by talent value leader.
Example: recruitment and training.
Strategies Partner: acting as a leader by identifying the area of competencies and allocating them for achieving organisational goals.
Example: planning strategies, Risk management, compensation study
Trends that are affecting the industry present /future :
Scope for change
The industry needs to shift from the traditional approach to a modern approach. The increase in technical advancement will change the functioning of HR.
HR should be given more of a strategic partner role than the typical recruitment and detail management roles.
As the growing technology has acquired this department from HR.
The management now seeks for new roles for HR.
The working environment is changing so is the employee's needs and demand so HR must change to a new way of thinking in order to satisfy them.
Affecting external factors :
Technological advancement in the field of artificial intelligence (AI), data analytics, robots, social listing are some of the external factors affecting HR operations.
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