Human Resource Management in Global Economy

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The role of the Human Resource Management in today's global economy is ever changing with the rapid change in competitive market environment and the realisation that Human Resource Management must play a more strategic role in the success of any business enterprise.


Moreover, they should be more adaptable, resilient, agile, and customer-focused to succeed. And within this change in environment, the Human Resource managers have to change in order to become a strategic partner, an employee sponsor or advocate, and a change mentor within the organisation. In order to succeed, Human Resource Management must be a business-driven function with a clear understanding of the organisation's ultimate goals and be able to influence essential decisions and policies of the organisation. Generally, the emphasis of modern day Human Resource manager is on strategic personnel preservation and skills advancement. Human Resource professionals will be coaches, counselors, mentors, and succession planners to help motivate organisation's members and their loyalty. The Human Resource manager will also promote and fight for values, ethics, beliefs, and spirituality within their organisations, especially in the management of workplace diversity (Chan, 2004).
Business organisations today have a clear and accelerating tendency toward downsizing that is the slow and methodical dismantling of an area - its redefinition and decentralization in the direction of the other areas of the company. Human Resource Management is not an exception on this trend. ...
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