IMPACT OF GLOBALIZATION ON HUMAN RESOURCE MANAGEMENT

ABSTRACT The pace of globalization is increasing continuously in terms of markets for goods and services, investment and business opportunities within one or more organizations. This transformation caused by globalization affects all the department in an organization in which Human Resource Management is not left out in this transformation crusade as it has obligation to move along with the changing demands of the globalization process. This paper examine the impact of the workforce on Human Resource Management either locally or internationally also it revealed the various factors driving globalization in the workforce and the issues and challenges that confront the Human Resource Management in the global markets, and also the benefits of globalization Human Resource Information system (HRIS) to the Human Resource (HR) department. The approaching of the 21 century globalization poses unique HRM challenges to business chiefly those functioning across countrywide boundaries as transnational or global enterprises. Competing in global markets require loads of factors and centralization of its human resource practices is definitely imperative to get better global competitiveness and authorize workforce for global assignments. This developments are opening up new markets in a mode that has certainly not been seen earlier than. This accentuates the requirement to deal with human resource efficiently to increase aggressive benefit in the global market place. To attain this organizations need an understanding of the factors that can decide the efficacy of different HR practices and approaches. This is because countries like India diverge down a number of scopes that persuade the attractiveness of direct overseas investment in nation. The rules and responsibilities of Human Resources departments are transforming as the modern business faces pressures of globalization. The global supply of talent is short of its long term demand, and the gap is a challenge for employers everywhere. The shortage between the demand and supply of talent is likely to continue to increase, notably for high skilled workers and for the next generation of executives. Now organizations need to place greater emphasis on attracting human capital rather than financial capital. Global staffing and management of a work force diverse in culture and language skills and dispersed in different nations are the key goals of global human resources