Human Resources in the Global Market

Seminar paper from the year 2005 in the subject Business economics - Personnel and Organisation, grade: Very Good, Turku School of Economics, course: International Business Operations, 24 entries in the bibliography, language: English, abstract: Recruitment and selection in International Human Resource Management is crucial; finding the right people to fill key positions can determine a company's international operation. Furthermore, it is extremely costly for the company if the expatriate fails. The performance of an expatriate is often determined by factors like (in)ability to adjust to foreign culture, the length of the assignment, willingness to move and work-related factors. What should be considered when selecting an expatriate are therefore criteria like technical ability, cross-cultural suitability, family requirements, country requirements as well as language and company requirements. However, recruitment and selection are only the first step for international Human Resource Management.The aim of this paper is therefore to point out the increasing importance of Human Resource Management especially from internationally operating companies' point of view. Furthermore, it will be pointed out what International Human Resource Management is and why it is necessary for Multi National Companies (MNCs) to concern about this topic. In addition, challenges and requirements of HRM will be illustrated and highlighted. This work will furthermore portray the recruitment and selection process as well as the necessity of training and development within global companies. It will describe the workplace conflict and deal with subjects such as industrial relations and employment law.