MN7374 International Human Resource Management Assignment Sample 2
Module code and Title: MN7374 International Human Resource Management Assignment Sample 2
Introduction
International human resource management depicts the idea of a set of activities that help the HRM (human resource management) department to go global. It helps in meeting the proposed organisational objectives to strive for the best in the international market. Competitive advantages can be seized by implicating different international human resource practices within the organisations. It is counted as a significant matter because it helps in analysing and developing different managerial skills.
The technical abilities of an organisation’s HR department are enhanced after implicating the international human resource practices. For the purpose of developing global business operational activities, IHRM is implicated by organisations. This essay is going to discuss the effects of IHRM practices to understand the effectiveness of liberal and coordinated market economies.
Thesis statement
The study is going to discuss initiatives taken by IHRM practices to illustrate the concept of liberal and coordinated market economies. Critics suggested that the effectiveness of IHRM practices require to be explained at the country level. While the definition seems to be repatriating then the heterogeneity of liberal and coordinated market economies needs to be understood. The theoretical lens of IHRM practices seems to be different in countries and sectors as well.
A discussion of the provided context of IHRM practices
An overview of international human resource practices
The implication of IHRM practices is important for organisations to achieve better goals at the international level. Hiring the right people is one of the main functions maintained by IHRM practices. Thus, it is noticed that IHRM practices tend to apply a strategized hiring procedure to hire skilled and experienced employees. In order to obtain skilled candidates, panel-based interviews and internships are applied by the IHRM practices within organisations. The global hiring procedure of IHRM practices helps in increasing the organisational productivity rate (Bonache and Festing, 2020). It enhances better opportunities to obtain employees within organisations. Cultural literacy is developed after implicating different IHRM practices.
According to Ayentimi et al (2018), different hiring tools are used by organisations to obtain highly skilled applicants. Another function maintained by IHRM practice is managing employees to achieve better performance. A statistic is maintained by the mentioned practice to estimate contributions made by employees for organisational success. Transparency needs to be maintained within organisations to achieve better objectives with high efficacy rates. Employee empowerment is done by IHRM practices to maintain a balance in work growth. Thus, employee engagement through empowerment adds organisational value for the HR department.
Fair compensation is added by IHRM practices to deliver the context of the employee retention policy. It is necessary for organisations to implicate strategies so employees can maintain a work-life balance (Walker et al. 2019). Health insurance plans need to be developed to bear the medical expenses of employees by organisations.
A safe workplace needs to be created, it can be done by implicating the IHRM practices. The chances of violation and abuse need to be monitored to achieve the greater good. An ethical workplace can be created by IHRM practices based on organisational objectives (Pucheta‐Martínez et al. 2020). A risk management plan needs to be developed to track the revisions based on rules and regulations for organisations.
As per the shared views of Conrad and Meyer-Ohle (2019), network and data security policies need to be incorporated to achieve better organisational performance. Employee incompetency needs to be monitored to implicate positive outcomes within the organisational culture. Adopting fair termination policies is counted as an important aspect for the organisations. In that case, implicating different IHRM practices can deliver positive outcomes (Pucheta‐Martínez et al. 2019). Based on the above discussion it can be said that the system of Global Human Resource Management shifted based on the mission and vision statements of companies.
An illustration of liberal market economies
The political ideology provided by an organisation refers to the concept of liberal market economies. A combination of market economy with personal liberty is estimated based on the context of liberal market economies. It provides concepts of different human rights to obtain highly skilled employees. It is counted as an important aspect because it helps in accommodating immigrants from the labour market. Implicating the concept of liberal market economies helps in increasing the ratio of efficiency. According to Mefi and Asoba (2021), it helps in inducing the context of production for organisations. As per the liberal market economies, innovation needs to be leveraged to achieve barter goals in marketplaces.
Liberal market economies help in fostering variation within organisations after being implicated with IHRM practices (Van Bavel, 2020). It helps in leveraging the distribution of wealth for organisations. However, several drawbacks are contained with the mentioned marketing mechanism. Sometimes improper incorporation of liberal market economies can lead to poor workplace conditions. Environmental degradation is counted as a disadvantage of liberal market economies as well. It helps in developing proper infrastructures to seize a huge range of benefits for organisations.
An explanation of coordinated market economies
It is counted as a formal marketing mechanism that regulates different interactions between firms and financiers to understand the organisational objectives. The coordinated marketing economies help in depicting interactions of fir switch its suppliers and clients as well.
As per the shared opinions of Garavan et al. (2019), the context of coordinated marketing economies helps in understanding capitalist behaviour maintained by organisations. Skills and technological aspects of organisations are depicted by implicating the mentioned marketing scheme. Trade unions are handled by the mentioned marketing concept of organisations (Huber et al. 2018). Factors such as corporate finance, corporate ownership, inter-firm relationships, and industrial relations are estimated by implicating a coordinated marketing scheme.
Based on the suggested views of Boon et al. (2019), implicating IHRM practices with the coordinated marketing mechanism is going to help in illustrating relation-specific organisational assets. Long-term variations of an organisation can be depicted through the mentioned mechanism. Higher levels of specific skills can be estimated by the mentioned marketing scheme. As per the mentioned marketing mechanism, the concept of wage moderation can be developed. It created better chances of competition to reduce the ratio of extra costs. It also helps the organisations to take long-term advantages based on the amount of capital.
Effects of HR practices on liberal market economies
The key aspects such as competitive advantages for financial prospects are maintained by liberal market economies in organisations. It is noticed that to precede further within the sections the selected HR practice is recruiting (Yao et al. 2018). Recruitment is liberal marketing countries is done by implication of IHRM practices.
It helps in delivering skill and technical approaches for better interpretation. As per the shared views of van Esch et al. (2018), it helps in mediating employee compilations for greater goods. It helps in moderating the atmosphere of organisations for better performance. Collaborative arrangements are done by liberal marketing economies to enhance the procedure of recruiting.
It is to note that liberal marketing economies provide easy access to financial aspects within organisations to enhance organisational performance. Due to the deregulatory structure of the US market, it is counted as a major part of the liberal marketing mechanism (Walker et al. 2018). Within the automobile sector of the US, domination of corporate governance is observed.
Implicating IHRM practices help in obtaining genetic applicants to achieve organisational objectives. The vocational skills of skilled employees are estimated after implicating different IHRM practices. It helps in eliminating risk factors of biased behaviour possessed by organisations in gathering skilled employees. The timing shifts of roles play a pivotal role in analysing changes in the marketing economy for organisations.
The implications of a liberal market economy can state the electoral pressure faced by organisations. Thus, the bailout programs of the U.S anti-union efforts helped in gaining a huge range of competitive advantages. Making markets more competitive is the main action taken by the liberal marketing mechanism (Hertwig et al. 2019). It can be conducted after implicating a proper HR practice such as recruitment as a major part. In the realm of social policy, the most accurate development faced by the US is gaining social benefit contingents based on the context of recruitment. Fair deal, welfare and workfare are the contexts leveraged by liberal marketing schemes in the US for retaining skilled and experienced applicants.
According to Makhecha et al. (2018), the governments of many political economies subsidise the positions of organisations. The general skills of employees are focused on here to remain as a minimal aspect of labour market policy. The quality of education is enhanced by liberal marketing economies in the US organisations as well.
At present, the prior example of the liberal market economy is the US. They have rolled over the state and made their presence lease in the market that is the main feature of this economy. A liberal market economy is a form of capitalist economy that is mainly found in Britain, Canada, Australia and New Zealand. In this market economy system, the coordination between firms and financiers is crucial because it mainly works based on the market mechanism (Meuer et al. 2019). This market economy works based on the free market economy to decentralise the system to make better industrial relations which is effective in the automobile industry.
Effects of HR practices on coordinated market economies
The idea of a coordinated economy relies on the condition and function of the institution to perform in the market. This market economy works on the interaction level, it relies on its standard that has a strong relationship with government organisations. These market economies are effective in authoritarian economic systems where the power of the regime is supreme. The role of the suppliers is crucial in this market economy (Walker et al. 2018).
On the other side customers and suppliers have another high standard of importance. All of these functions rely on the situation of the present market. In the automobile sector, these market economies have different levels of preference, especially in Denmark. In the automobile industry tax, the concept of welfare work is the necessary part to do the modest level of reduction.
The role of this economy is mainly seen and used for gaining political motivations and in most of the countries where a coordinated market economy is running authority or the regime palace in the first place even before the citizens. The idea of coordinated market economies and the role of HR is quite strategic; they have to motivate the employees and work with their sentiment.
The major effect of the HR practices on coordinated economies is reducing the presence of the large marketplace and on the other increasing the presence and effectiveness of the government sector by managing the employees (Vincent et al. 2020). The place of interdependence is crucial in this economic system where the workforce is linked with the national economic system in order to achieve the national goal. Although the primary concern of the coordinated economy is to emphasise the features of the institution before beginning its performance at the national level.
In Denmark, the presence of coordinated market economies is seen with its vast effect such as it assists the national economy to increase the tax rates of every sector. On the other hand, that can assist the nation to get a generous level of welfare benefits. In this economic system, the regulations of the regime are effective to stifle competitiveness.
The rate of welfare spending is the prior goal of this economic system to increase institutional competitiveness. Gaining a high level of socioeconomic success is the major HR effect of the coordinated economies system (Mayrhofer et al. 2019). In this economic system, HR effects increase the competitive atmosphere in the institution and it occurs as heterogeneous mixtures that blend several benefits from the economic and political sides. In this 21st-century globalisation era, the effective role of the HRs is related to the institutional arrangement of the workforce where the strong socio-economic performance of an organisation is crucial to becoming an effective part of the national economy.
An outline of the chosen HR practice
In the automobile industry near about 19 million people are used to working but still, there is a lack of HR practices that is seen that causing a gap in skill in this industry (Morley and Heraty, 2019). Due to the presence of this gap the various organisations are using different strategies to get over these issues. Various talent-related strategies are recently adapted by the HRs in order to recruit the right employees where they fit the best. The recruitment in the automobile industry needs certain initiatives that demonstrate good and innovative new changes of thinking. It includes certain activities such as,
Redundancy while skill set
Recruitment in the automobile industry is a skilful task and in this place, this industry faces the major issues of redundancies. Due to the presence of robotic process and automation, technology in the automobile industry of Denmark the flow of the work becomes technical. The employees are still getting redundant for that reason there is a major need for learning and training of the employee managers on the right workflow in the industry (Horwitz and Mellahi, 2018). The number of present employees needs certain courses to learn the activities that they need to do.
Fixing the issue of low communication and lack of collaboration
In the workforce, the presence of automation is unnecessary it reduces the personal skill of the employees. HRs nowadays is more focusing on the communication and collaboration issues to keep a good working environment inside of the organisation (Mayrhofer et al.2019). Therefore, HR is facing challenges due to the misguidance of the AI practices on the employees. In various automobile companies, an inherent level of mismatch has accusing every frequently and resolving these issues are the prior responsibility of the HRs. at this palace.
The head of the management announce the initiatives and their assistants play the inevitable role to make the subordinates understand the ideas and strategies regarding the changes in communication (Hmoud and Laszlo, 2019). Communication and collaboration are the major factors that are related and linked with the idea of success and the moral responsibility of the HR at this palace are to boost the ultimate level of productivity of the employees.
Negligible engagement of the employs
Negligible engagement with the employees is one of the grave challenges faced by the HRs at present in the automobile industry. Fixing this issue can improve the ability of the employees to do better work. On the other hand, it created and fostered the work environment by engaging the employees in the work (Waheed et al. 2019. On the other hand, the role of the leadership and scenario manager on the ground is crucial and it depends on the condition of the country.
Effects of the chosen HR practice on a particular sector or two different countries
Denmark
The effect that has been seen in the automobile industry of Denmark is,
Low rate of compensation
The recruitment process for the automobile sector is quite different from the other industry, HRs are facing various challenges while recruiting employees for the work (Pettigrew et al. 2018). Due to the presence of fewer annual arrivals, the compensation rate of this industry is lower than any other manufacturing sector. The role of HR is not so effective in this place of the frequent market fluctuations.
Lack of strategic HR planning
The low rate of strategic planning is the prior cause of the lack of development of an organisation. In Denmark, the majority of the automobile sectors lack strategic planning which lowers the rate of profit ratio gradually (Manzoor et al. 2019). The HR practices in this particular industry focus on the determination of the value positioning through analysing the effects and presence of the competitors.
US
High turnover rates
The employee turnover rate in the US automobile industry is higher than in other developed countries. This prior issue affects the HR activities of this sector that cause employee dissatisfaction and insecurity in the job.
Difficulties to perform with the corporate leaders
In the US, performance with corporate leaders has become quite difficult for the automobile industry (Gilch and Sieweke, 2021). The role and behaviours of the employees make it the organisation difficult to develop good terms with the corporate leaders that can affect the business and profit ratio of the organisation.
Conclusion
Through the entire analysis, it can be concluded that the role of the workforce is a crucial part of the human resource management and sometimes it biomes difficult to retain. This idea varies on the country segment and industry types. Through analysis of the idea of liberal market economies and coordinated market economies, it has been found that the effect of the coordinated economy has a lack of HR activity trends that are required the most. Through analysing the liberal market economy, it has been found that it has various competitive advantages that are necessary for International Human Resource Management (IHRM).
References
Journals
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Effects of chosen HR practices on automobile sector
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