Contents

• Introduction
• Body
• Conclusion
• References

Description

This essay is an attempt to investigate and make relevant suggestions in the management of employee’s international relocation. This is important considering today with globalization; we have seen differences in our everyday life due to fundamental changes around us because of many factors. These are factors related to trade, economics, products and technology. The HR department of the company faces challenges in this task considering it is an expensive and exhaustive process right from selection, training, expatriation and repatriation of an employee. We will go over them and see how we could bring certain changes to help the HR.
We will briefly mention some changing trends developing across the globe which the HRM needs to be aware of related to workforce. Treven and Mulej (2005) have stated the increased importance of HRM to tackle competitive challenges in global arena related to quality, social and technology changes. There is a new evolving labor market with emphasis on human capital as a source of competitiveness. This is because in current knowledge economy, human capital is directly linked towards increased competitiveness of the organization. The technology element involved in services and manufacturing has gone up considerably. The skill set required to handle the job has also gone up and hence, HRM needs to ensure that policies won`t disrupt the normal functioning. There is a change in demography with developed economies in western industrial nations facing low fertility rates. The population structure is “inverse pyramid” in shape with decreasing young population supporting the whole economy and an increased proportion of women participating in the workforce.