HRM ISSUES AND CHALLENGES IN GLOBAL MARKETSThe coming of the 21 century poses distinctive HRM challenges to business especiallythose operating across national boundaries as multinational or global enterprise.Competing in global markets entail many factors and centralization of its human resourcepractices is certainly vital to improve global competitiveness and empower employees forglobal assignments. To achieve success in global marketplace, the challenge of allbusinesses regardless of their size is to understand global corporate cultural differencesand invest in human resources.STRATEGIC HRM AS A RESPONSE TO THE CHALLENGES OFGLOBALIZATIONThe world has undergone a dramatic change over the last few decades, the forces ofglobalization; technological changes have greatly changed the business environment.Organizations were required to respond in a strategic manner to the changes taking placein order to survive and progress. Strategic Human Resource Management (SHRM)involves a set of internally consistent policies and practices designed and implemented toEnsure that a firm's human capital contribute to the achievement of its businessobjectives. Strategic human resources management is largely about integration andadaptation. Its concern is to ensure that: (1) human resources (HR) management is fullyintegrated with the strategy and the strategic needs of the firm; (2) HR policies cohereboth across policy areas and across hierarchies; and (3) HR practices are adjusted,accepted, and used by line managers and employees as part of their everyday work.SHRM practices are macro-oriented, proactive and long term focused in nature; viewshuman resources as assets or investments not expenses; implementation of SHRMpractices bears linkage to organizational performance; and focusing on the alignment ofhuman resources with firm strategy as a means of gaining competitive advantage.IMPLICATIONS FOR HRM PRACTICESThe role of people in the implementation of strategic responses has a significant bearingon the success rate. It is therefore imperative for organization to look at the human issuesinvolved before implementation of any strategic responses. At this connection thequestion is: How can organizations effectively adopt, implement and maximize HRMpractices for valued firm level outcomes? That is, how can firms increase the probabilitythat they will adopt and then effectively implement appropriate HRM practices? Insuringthat members of the HRM personnel have the appropriate human capital or competencieshas been suggested as one way to increase the likelihood of effective implementation ofHRM practices .The future HR professional will need four basic competencies to becomepartners in the strategic management process. These include business competence,professional and technical knowledge, integration competence and ability to managechange.HR professional competence describes the state-of-the-art HR knowledge, expertise andskill relevant for performing excellently within a traditional HR functional departmentsuch as recruitment and selection, training, compensation, etc. This competence insuresthat technical HR knowledge is both present and used within a firmBusiness-related competence refers to the amount of business experience HR personnelhave had outside the functional HR specialty. These capabilities should facilitate theselection and implementation of HRM policies and practices that fit the uniquecharacteristics of a firm including its size, strategy, structure, and culture .In other words,

these competencies will enable the HR staff to know the company's business andunderstand its economic and financial capabilities necessary for making logical decisionsthat support the company's strategic plan based on the most accurate informationpossible.

CRITICAL STRATEGIC GLOBAL HUMAN RESOURCES CHALLENGESo Gaining acceptance as a business partnero Establishing new operationso Involvement in mergers and acquisitionso Recruiting for key positionso Developing compensation and benefits strategieso Establishing and maintainingo global ethical standards

CULTURAL ASSESSMENT

Please circle the response that most accurately reflects your organization. At times you may be torn between two or more answers. Make the selection that best reflects your firm, although it may not be perfect. Thank you for your candor.

The prevailing attitude people have toward others in the firm:

1. I will defeat you 2. I will use you 3. You scratch my back, I will scratch yours 4. We are partners 5. We are for each other and for the whole

The prevailing philosophy of most people in the firm is:

1. Do unto others before they do unto you 2. Do unto others because everyone is doing it 3. Do unto others in a way that is fair 4. Do unto others as you would have them do unto you 5. Do for all in a way that best serves all

The prevailing belief system in our firm is:

1. Might makes right, winning is everything 2. It’s a tough competitive world 3. We need to compromise 4. Strategic partnership is possible 5. All stakeholders served means sustainable growth

The quality of our agreements and keeping promises is:

1. Tacit, dysfunctional, hostile, co-dependent

2. Legalistic and/or haphazard 3. Intent, roles and promises clear 4. Intent, roles, promises clear and effective accountability loops in place 5. Intent, roles, promises clear and effective self-improving and self-evolving

accountability loops in place

The quality of listening in our firm is:

1. Stereotyping and discounting 2. Distracted and impatient 3. Focused and non-judgmental 4. Active and appreciative 5. Draws out the genius in others

The quality of inquiry is:

1. Punitive 2. Cross-examination 3. Purposeful exploration 4. Clarifying and integrity evoking 5. Co-creative escalation

The quality of speaking in our firm is:

1. Attacking, blaming, alienating 2. Confusing 3. People speak their truth without blame or judgment 4. Clarifying and integrity evoking 5. Elicits breakthroughs

The mood in our firm is:

1. Forceful and uncertain 2. Wasteful and convoluted 3. Polite and aloof 4. Concern for others 5. Alive with enthusiasm and respect

Our business results are:

1. Exploitative for the good of the few 2. Subtly exploitative 3. Value adding for all 4. Consistent high performance from additive synergy 5. Radical sustainable growth from exponential synergy