Globalization influences the number and kinds of jobs that are available and requires that organizations balance a complicated set of issues related to managing people in different geographies, cultures, legal environments, and business conditions. HR functions such as staffing, training, compensation, and the like have to be adjusted to take into account the differences in global management. This paper provides an overview of recent trends in the global business environment which affects the practice of HRM, including globalization, Why Study Human Resources Management, Challenges of globalization for managers, Challenges of new technology, Challenges of managing change, Challenges of developing human capital, Market Challenges, Challenge of containing costs, Demographic Challenges and finally The Partnership of line managers and HR. In order to manage employees for competitive edge in a period of globalization, human resource personnel must possess competencies relevant for implementing such strategic HRM policies and practices (Barney and Wright, 1988; Huselid, et al., 1977; Ulrich, 1989, 1996, Ulrich, et al., 1995). As a global company, the only way to succeed is to develop an effective global HRM system with personnel capable of designing and implementing multi- and transnational companies (MNCs / TNCs) business strategies, a value-added function in organizations. The conclusion is based on best practices and lead to recommendations for improved global HRM.
Global Journal of Business Management Vol. 2 No. 1, June 2008