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The Best HRM Approach in Managing Large Multinational Corporation - Case Study Example

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This paper "The Best HRM Approach in Managing Large Multinational Corporation" focuses on the fact that the HR management approach used in managing large multinational corporations is totally different from those used in managing public sector organizations and family-owned ones. …
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The Best HRM Approach in Managing Large Multinational Corporation
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Download file to see previous pages Prior to a conclusion, significant changes in the payment scheme over the past thirty years will be thoroughly discussed by considering the ways in which the pay-setting has changed. Particularly with regards to the use of performance-related pay, reasons, why the use of this type of payment scheme should be considered fair to all workers, will be explained in details.
Because of the influence of globalization in the world market, the best HRM practice that can enable large multinational companies to improve the overall business performance and employee satisfaction is to promote and incorporate the importance of diversity at work within the organizational culture (Marchington and Wilkinson 2005, p. 16).
backgrounds and characteristics of humankind” (College of the Mainland 2008). Therefore, the study of cultural diversity is focused on acknowledging one or more socio-demographic traits like gender, race, ethnicity, and age (Janssens and Zanoni 2005). As a paradigm that forms a strong pattern of acceptance and respect among the employees, cultural diversity at work – also known as multiculturalism is about integrating culture in terms of employees’ age, gender, mental or physical abilities and characteristics, race, ethnic heritage, sexual orientation, geographic location, work experience, income, religious beliefs, language spoken, organizational role and level, communication style used, family status, work style, and/or educational background (Loden 1996).
Organizational culture is “a pattern of behaviour developed by an organization to cope with problems related to external adaptation and internal integration aside from enabling the employees to feel and think positively” (David 1999, p. 143).
Knowing that there is a strong relationship between a successful business organization and satisfied employees, incorporating diversity at work can effectively improve the working process and overall business performance and profitability since employees are inspired to deliver their best performance at work.  ...Download file to see next pagesRead More
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