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Affect of Globalization on Multinational Enterprises

Author(s): Kusum Verma

Journal: International Journal on Research and Development : A Management Review
ISSN 2319-5479

Volume: 2;
Issue: 1;
Start page: 41;
Date: 2013;
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Keywords: Data Analytics | Online Analytical Processing | Data Mining | Key Performance Indicators | Dashboards | Scorecards | Human Resource Management | Data Warehouse.

Globalization has made the world very small. We have to cast human beings a tune with newer requirements for which they require knowledge. Knowledge is based in experience, faith; common sense & interest for particular point of view change in selection recruitment program, induction program, Training and Development policies are needed to be made. The roles 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 business executives. Now organizations need to place greater emphasis on attracting human capital rather than financial capital. Global staffing and management of a workforce diverse in culture and language skills and dispersed in different nations are the key goals of global human resources. Only those multinational enterprises willing to adapt their human resource practices to the changing global labor market conditions will be able to attract and retain high performing employees. Companies with the ability to foresee their business needs and their workforce needs – especially for high skills – will gain the decisive competitive advantage. Globalization can therefore be said to have had a phenomenal impact on a developing economy
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