Describe three workforce trends that might impact companies and employees that are transforming to a global business model

Discussion: Global Human Resources

According to Entrepreneur.com, the main reason for a company to become global is the ability to expand and grow. Companies that begin selling their products and services outside of the domestic market can extend the sales life of existing products by finding new markets to sell them in, and thus reduce their dependence on the domestic market or cyclical fluctuations and demand cycles. Transforming a business to be successful in a global market requires a considerable amount of work, planning, and financial investment. The same thing could be said regarding the work, planning, and investment that the HR professional must do when preparing for the role of a global human resource manager.

Hilka Klinkenberg, founder of Etiquette International in New York City (as cited in Newlands, 2015) claims that more than 75% of U.S. business ventures abroad are unsuccessful because Americans do not take the time to study the culture, customs and environment of the targeted markets. In addition to creating a strong business plan, companies should invest in the employees who will be building the necessary relationships for success. Taking time to learn the role of body language, dress, cultural heritage, traditions, how other cultures do business, and what activities have the greatest impact on relationships is key to successful international business.

In this week’s discussion, you will examine the essential functions of human resource management and how these functions might change as companies move to a global business model. You will also consider how HR professionals can help employees prepare for global assignments.

References

Entrepreneur. (n.d.). How to take your company global. https://www.entrepreneur.com/article/159252

Newlands, M. (2015, April 1). 5 tips for growing an international company: How to take advantage of the global market. Inc. https://www.inc.com/murray-newlands/5-tips-to-growing-an-international-company.html

Include and Intro and Conclusion

1) List three functional areas with human resources (staffing, compensation, employee relations, HRIS, training) that will dramatically change as companies transform to a global business model

2) Describe the changes that would occur for employees who are transitioning to a global assignment
3) Provide advice that you would give to employees who are transitioning to a global assignment

4) Describe three workforce trends that might impact companies and employees that are transforming to a global business model