Employees in an International Market - Essay Example

? EMPLOYEES IN AN INTERNATIONAL MARKET goes here] [Your College] Employees in an International Market Outline Introduction In this part ofthe paper, some basic functions of human resource (HR) department are mentioned and a basic overview of human resource management is provided. Moreover, this portion links with the rest of the paper by mentioning what the paper is going to cover in later portions. Most Critical Human Resource Functions This portion includes some material about the basic functions of HR department in managing employees in an international marketplace. Alignment between Recruitment and Corporate Objectives This is the sub portion of the previous one. It shows the importance of aligning recruitment processes with the corporate goals and objectives of the company. Employee Training and Development This sub portion focuses on the need of employee training and development in achieving higher levels of employee productivity and performance. Employee Motivation Employee motivation is the key to the success of a company. Therefore, some discussion has also been done in the paper to know the role of HR department in increasing employee motivation. Employee Compensation In this sub portion, the need and importance of developing and implementing employee compensation plan in managing employees is discussed. Conclusion This portion sums up the overall discussion, summarizes the key points, and presents a shortened and final perspective. Employees in an International Market Introduction The role of the human resource department is critical for the success of any company or organization. If we talk about the management of employees in an international marketplace, we can say that the HR department holds the responsibility to develop effective policies which should be aimed towards aligning employees’ job responsibilities with both internal and external business requirements. Some of the main functions of HR department in managing employees in an international market include employee recruitment and selection according to international business requirements, developing programs for employee training, dealing with workplace issues regarding employees, and designing and implementing performance appraisal systems and compensation plans. As Groenewald (2009) states, “staffing, training, compensation and performance management are basically important tools in the human resources practices” (p. 1). In this paper, we will examine the functions of human resource department in managing employees in an international marketplace. Most Critical Human Resource Functions To manage employees in an international marketplace, the human resource department of a company needs to execute some critical functions. These functions not only ensure smooth running of business processes, but also help a company achieve its corporate goals and objectives effectively and efficiently. Some of the most important HR functions in this regard include aligning recruitment process with corporate objectives, starting programs for employee training and development, and increasing employee motivation. Let us discuss these functions in some details to know their significance for a better management of employees. Aligning Recruitment with Corporate Objectives One of the main roles of the HR department is to align the employee recruitment process with the overall strategy of the company in order to build an inspired and productive workforce. Employee selection is one of those functions that are critical in ensuring a company’s success. It is the responsibility of the HR department of a company to recruit such people, who can prove themselves productive for the company through their skills, talent, and knowledge. A skilled and experienced employee is a key towards success of a company. Therefore, global HR managers look for such people who can give improved performances and can ensure high levels of profits for the company through their performances. In today’s competitive world, recruiting and forming a diverse workforce is very important for the success of a company in the global marketplace. The HR department deals with the selection and training of right employees for the company. The reason is that skilled employees are the most valuable assets of a company as they are able to make their company perform in today’s world of competition. Employee Training and Development Employee training is another important function of the HR department that deals with the success of employees in the international marketplace. Employee training is critical for ensuring continuous growth and development of a company. Training helps employees become familiar with the nature of their jobs. It also helps employees to grow professionally in the environment where companies like to hire such employees who can lead the company through their talent and knowledge. The better the training of the employees will be, the better the performance of employees will be. Employee training also plays a valuable role in ensuring long-term profitability of a company. Therefore, HR professionals put their efforts in investing in employee training and development programs to improve the individual performances of employees as well as to increase an overall organizational productivity. Employee training and development also help in creating a pool of suitable replacements for the employees who either resign from their jobs or get promotions within the company, hence, leaving their positions available for other suitable candidates. Employee Motivation Another function of HR professionals is to increase employee motivation to make employees achieve corporate goals and objectives in the international marketplace. A highly motivated employee shows much better individual performance than other employees. To align employees’ performances with the corporate goals and objectives, it is very important to develop a highly motivated and committed workforce which should be able to use their global management skills and knowledge in carrying out the job activities. Employee motivation is the combination of employees’ job related behaviors, the level of efforts employees exert, and the employees’ level of determination. Companies are at risk of facing many setbacks with a lower level of employee motivation. Some of the main benefits of increasing employee motivation include resource integration, an improved employee commitment, a proper organizational development, and an improved efficiency of business processes. Employee Compensation Another key function of HR department in managing global workforce is to increase the level of employee satisfaction. A company can do this by meeting the needs of employees through developing well-structured compensation and incentive plans. A compensation plan is a set of those rewards and bonuses that a company provides to its employees when they achieve some particular targets. Here, an important point to mention is that the success of any company depends on the formulation of well-structured incentive plans, as well as on continuous evaluation of those plans. Employees like to work in an environment where their efforts are recognized in terms of cash and non-cash rewards. As Keimig (2008) states, “generous benefit packages (especially those with an emphasis on health insurance and retirement savings) tend to attract employees who are looking for long-term, stable positions” (p. 1). Another reason to implement an incentives plan is that in today’s world of competition, only those companies achieve success which maintain a skilled and experienced workforce which is able to show improved job performances in the global marketplace. Incentives and compensation also result in a decreasing employee turnover rate. Low employee turnover is one of the main accomplishments of the HR department. “Companies take a deep interest in their employee turnover rate because it is a costly part of doing business” (Beam, 2013, p. 1). Therefore, the HR department of any company needs to include employee benefits in their strategic business plans in order to accomplish corporate goals in the global marketplace. Conclusion Summing it up, effective human resource management is one of the most important factors that determine the success of a company in local and international markets. The main functions of the human resource department in managing employees in an international marketplace include strategic employee selection and recruitment, developing effective employee training programs, and increasing employee motivation to meet corporate goals and objectives. Some of the main outcomes of focusing on employee management in broader terms include selective and strategy-oriented recruitment of employees, improved organizational performance, improved business efficiency, and formation of a skilled workforce which is able to meet the requirements of the international business environment. References Beam, J. (2013). What is employee turnover? WiseGeek. Retrieved from http://www.wisegeek.org/what-is-employee-turnover.htm Groenewald, J. (2009). Human resource management and organizational effectiveness. Ezine Articles. Retrieved from http://ezinearticles.com/?Human-­Resource-­Management-­and-­Organizational-­Effectiveness&id=2844811 Keimig, C. (2008). The importance of benefits. Remodeling Magazine. Retrieved from http://www.remodeling.hw.net/benefits/the-importance-of-benefits.aspx Read More