PROBLEMS OF HUMAN RESOURCE MANAGEMENT IN THE PROCESS OF GLOBALIZATION AND THEIR SOLUTIONS

Abstract:

The phenomenon of globalization has significantly changed the human resource management (HRM) environment by offering new opportunities while creating new risks. Critical problems are relating to multicultural work force, skills mismatch, technological changes, changes in the labor market, legal and ethical compliance, etc. These problems are made worse by the speed of transformation and the growing integration of economies around the world. This paper analyzes the major challenges that the HRM function faces in the environment of growing globalization and attempts to offer ways of solving these problems. Such strategies include the use of inclusive approaches to handle cultural diversity, developing and supervised training and retraining measures, the use of technology in working from home and working in the hybrid model, designing of flexible organizational structures and creating effective control mechanisms. Taking into consideration these challenges may improve employee retention, make better use of the resources put in the core processes, and can help in better overall performance of the company in the globalized world