HackndMedia

One artifact which I feel important and interesting

Global resource management :  

Before I thought there would not be significant difference in theories of domestic human resource management and global human resource management but when I searched and go through lots of theories and comparison between both of this there are lots of different key and theories.

It refers to the activities an organization carries out to use its international human resources effectively.

These activities include:

1.Determine firm’s HR strategy

2.Staffing

3.Performance Evaluation

4.Management Development

5.Compensation

6.selations

         

Several key factors make Global HRM different from domestic management:

1. Different labour markets
2. Mobility problems: legal, economic, cultural barriers
3. Different management styles
4. Varied compensation practices
5. Labour laws.

This artifact which deepened my understanding of theory :(Of course hofstede theory of cultural dimension)

• If we plan to do business with any international company this theory of hofstede would be more important when two person are from different culture and with different ideas and How will they behave ,How they should and how to leave a positive impact on them those all are important and which is very well explained by hofstede in his cultural dimension theory
• For example, If two persons meet for business meeting from different culture they do not know each other cultural value . If meeting with a female one can feel awkward like Japan they have very high which is 95 so I do not think they would like to deal with a female business partner because their cultural value and considerations.
• All in all, Hofstede theory is very significant to understand for a international entrepreneur and important to make a final or agreement.

Philosophy of International resource management:

IHRM is the methods of :

1. selecting,
2.  allocating,
3. utilising human resources effectively 
4. hiring 
5. compensation, 
6. organization development,
7.  performance management, 
8. wellness, 
9. safety,
10.  benefits, 
11. employee motivation, 
12. training,
13.  administration, and 
14. communication at an international context.

• International human resource management functions cover many different activities related to a business organization’s employees and contractors. 
• The first and most important is the staffing needs of the company whether staff members are company employees or outside contractors. 
• Other functions include recruiting and training employees, ensuring that they are performing at expected levels or better, handling performance issues and making certain that personnel and management policies conform to laws and regulations.
•  IHR management is also involved in how the company manages employee compensation and benefits, employee records and personnel policies and practices.
• They have to build integration among HR practices and policies of its subsidiary firms in different territory in order to achieve overall organisational objectives.  
  Because of the forces of globalisation and the demand of the organisations to develop and implement a strong global strategy, International Human Resource Management (IHRM) is becoming a prerequisite to success of the organisational.
• On the other hand, these organisations also ensure a significant level of flexibility in their IHRM strategy because employees from different countries are backed by different cultures and social values. Flexibility has a significant influence on the performance of the employees.

One artifact which I feel challenging and want to research more about it :

International compensation methods:

This has also a significant role in International human resource because in global business employee rewards ,their incentives and all important to give them a satisfactory salary as per their designation. 

There are two renowned methods :

1.  Balance sheet approach(also called home based approach )
2. Going rate approach(Host based approach)

Balance sheet is more popular in this over all but It is also more complex to design and It depends on the taxation and other expenses of the employee so It is easily accepted methods for IHR manager and for expatriates ,yet, It is very complex to design

and that is the reason why I felt it difficult to understand and I would like to know more about this in detail because I need to know what will my steps If I will be a International human resource manager.