Globalization and Its Impact on Hrd
Globalization and its Impact on Human Resource Development
ABSTRACT
Globalization has a major impact on the management of human resources in developing countries like India. The roles and responsibilities of Human Resource Departments are transforming as the modern business faces pressures of globalization. With accelerating globalization, organizations have had to change and new trends have set in even in the management of human resources. Globalization has forced organizations and their human resources to redefine their strategies. It is necessary for the management to invest considerable time and amount, to learn the changing scenario of the Human Resource Department in the 21st century. Now organizations need to place greater emphasis on attracting human capital rather than financial capital. In order to survive the competition and be in the race, HR Department should continuously update itself with the transformation in HR. Suitable HR Policies that would lead to the achievement of the organization as well as the individual's goals should be formulated.
The prime objective of the paper is to identify issues related with Globalization and its impact on Human Resource Development. The paper focuses on a number of outcomes of globalization, which promotes human resource development. It also states about several factors that inhibit the human resource development. Finally, the paper provides few strategy recommendations to develop human resources of developing countries in a changed situation of political economy of trade liberalization. Several articles of the renowned thinkers and practitioners are consulted to get a clear concept of the topic in respect to objectives mentioned above. Besides, different other publications were also consulted to make the paper informative and objective oriented.
Keywords: Globalization, Human Resource Development, Management of Human Resources, HR Challenges, HR Policies & Strategies.
INTRODUCTION:
Globalization is the
ABSTRACT
Globalization has a major impact on the management of human resources in developing countries like India. The roles and responsibilities of Human Resource Departments are transforming as the modern business faces pressures of globalization. With accelerating globalization, organizations have had to change and new trends have set in even in the management of human resources. Globalization has forced organizations and their human resources to redefine their strategies. It is necessary for the management to invest considerable time and amount, to learn the changing scenario of the Human Resource Department in the 21st century. Now organizations need to place greater emphasis on attracting human capital rather than financial capital. In order to survive the competition and be in the race, HR Department should continuously update itself with the transformation in HR. Suitable HR Policies that would lead to the achievement of the organization as well as the individual's goals should be formulated.
The prime objective of the paper is to identify issues related with Globalization and its impact on Human Resource Development. The paper focuses on a number of outcomes of globalization, which promotes human resource development. It also states about several factors that inhibit the human resource development. Finally, the paper provides few strategy recommendations to develop human resources of developing countries in a changed situation of political economy of trade liberalization. Several articles of the renowned thinkers and practitioners are consulted to get a clear concept of the topic in respect to objectives mentioned above. Besides, different other publications were also consulted to make the paper informative and objective oriented.
Keywords: Globalization, Human Resource Development, Management of Human Resources, HR Challenges, HR Policies & Strategies.
INTRODUCTION:
Globalization is the
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