Three Activities in Human Resource Management - 1509 Words

Three Activities in Human Resource Management Introduction With the process of globalization and internationalization, multinational firms develop rapidly. What is the multinational firm? It should be called multinational corporation (MNCs) which is more academic. An MNC is a company physically active in more than one country, like McDonald, Nestle, Ford etc. General speaking, Human Resource Management plays an essential role for an enterprise, especially for a multinational enterprise. What is Human Resource Management? Noe et al. (2006: 5) defined HRM that â€Å"HRM refers to the policies, practices and systems that influence employee behavior, attitudes and performance in order to support business goals and objectives† while Dowling†¦show more content†¦Therefore, in general, the majority of employees are HCNs while the senior managers are PCNs and TCNs in the earlier operation of a subsidiary. In the process of local development of subsidiaries, the system of operation become mature and HCNs become more familiar for companies’ policies, methods, technology and management etc. so it is necessary and brilliant to expand the space of promotions for HCNs in the late operation. That is to say, increasing the proportion of HCNs in the senior managers in the late operation can bring lots of benefits for company. For ex ample, it will cut down the cost efficiently and motivate the local staff to work harder significantly. The second HR activity is about compensation and benefits. Firstly, this HR activity for multinational firms involves different currencies and stability of currencies. With the fluctuation of exchange rates, a foreign currency may appreciate or depreciate, which bring more risk for multinational firms. Also, with the diversity of nations and cultures, the institution of compensation may vary from parent company to subsidiary. For example, different countries have different price levels, which lead to different wage levels. Lastly, according to three categories of employees, the compensation and benefits are different. Compensation is a key factor to increase satisfaction of staff and job performance. The main problem about compensation andShow MoreRelatedExamples of Ihrm and Domestic Hrm Essay841 Words   |  4 Pagesmultinational ventures stem from a lack of understanding of the essential differences in managing human resources in foreign environments (Desatnick Bennett 1978). The world has become more globalized, competitive, dynamic and uncertain than ever before. As more and more firms operate internationally, the search for the elements of global competitive advantage is a prominent theme in the management literature (Dickman Mà ¼ller-Camen, 2006: 580). 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