HUMAN RESOURCE MANAGEMENT PERSPECTIVES TOWARDS GLOBAL WORKPLACE BY 2020

Abstract

Globalisation has led to different and varied outcomes in the modern day’s business by fierce competition, rapid change, emerging market trends and adoption of new technologies. A global workplace is a borderless workplace, which facilitate facing new challenges and compete in changing work culture. Today’s buzz words are “Manage change or perish”. The demographics and size of the workplace are changing considerably since 21st century. Hence the organizations are trying to cope with the changes to survive and sustain in the global competitive corporate world. Since the demanding market is dictating terms to the firms, every organisation is expected to deliver excellent results in terms of cost, service, technology, speed, etc. Innovation and technology seek skilled and qualified human resources to compensate the dearth in supply of man power. Companies which localize its HR strategies, acquire and retain global talents are at a competitive edge. Reskilling, cross cultural training, repatriation and empowering are the most viable option. Firms are more flexible in terms of working hours and location. They follow open culture and prefer to be learning organisations. This paper will analyze factors affecting changing global workplace, needs of global workers, management of workforce diversity and emerging trends to create global workplace.