Current trends of International HRM

The Covid-19 epidemic has shaken the world in recent years, forcing many people and organizations to work remotely and digitally. The future of the modern workplace and, consequently, international HR practices will be shaped by this. But, even without the pandemic, the advent of artificial intelligence (AI), cloud-based HR technology, and the rising need for equality and diversity in the context of globalization will cause the landscape of global HRM to alter, taking on new and distinct forms.

The rise of Artificial intelligence 

Although the future is slated to be both digital and human, the extent to which artificial intelligence will affect HR and the future of work is still an open question. Artificial intelligence is one of the most talked-about topics surrounding global HRM. Together with machine learning algorithms, the use of big data, and people analytics, the 2022 World Economic Forum Report identified artificial intelligence as a significant driver of change. All of these are anticipated to have an impact on enterprises as a whole as well as the HR function.

Significantly, the Chartered Institute of Personnel and Development CIPD has also highlighted a number of "mega trends" that are influencing the workplace, and it is critical to recognize that global HRM and organizations are evolving and emerging in a world that is becoming more volatile, unpredictable, complex, and ambiguous (VUCA). Organizations must ultimately establish a balance between responsiveness, agility, and sustained strategy development that is both lucrative and moral.

Cloud-based HR tech

Global HR is already being shaped by cloud-based HR technologies, and these tools are expected to further transform HR data management and people analytics. The American consultancy and asset management firm Mercer believes that cloud-based HR technology "may transform the HR function from a confusing bureaucracy to a business engine."

This is expected to influence the development of global HRM in the coming years as companies become more aware of the potential advantages of home and remote working, especially in the current phase of greater home and remote working caused by the pandemic. As a result, there will be fresh and new chances for the development of cloud-based HR technology. Employees and supervisors may completely access HRM systems online from any location or time zone.

During the COVID-19 epidemic, cloud-based HR has for many been a crucial organizational survival measure. It has made it possible for organizations and HR professionals to carry out routine duties, retrieve data, and plan particular actions like furlough leave from any place with an internet connection.

Equality and diversity

Not only is equality, diversity, and inclusion one of the most important concerns facing modern companies, but there is still much work to be done in this area, particularly with regard to social mobility. It is significant that some big companies, like PWC, KPMG, and Accenture, among others, are incorporating social mobility into their strategy in light of the Social Mobility Foundation's recent introduction of a social mobility employer index.

Organizations, especially those in the UK, need to pay attention to employer-led social mobility as part of their overall equality and diversity initiatives, especially in light of the fact that evidence reveals that socioeconomic diversity is also important to customers. But, rather than merely for the commercial reason, firms should promote diversity and inclusion because it is the morally correct thing to do and for social justice.

Digital and remote working

In terms of the [often forced] adoption of digital and/or remote working, the past three years or so have been revolutionary and unparalleled. This is expected to have a significant impact on how HRM is practised globally, potentially becoming the "new standard." There are many different points of view about the developments and effects of flexible, remote, and digital working. The future of work and future trends in global HRM will be significantly shaped by more hybrid remote working arrangements, where people work both at home and in the office.

As a consequence, corporate cultures will be affected, and new and varied expenditures will be spent. A highly educated, well-paid fraction of the workforce will likely continue to use hybrid models of remote work after the epidemic, according to McKinsey Global Institute's most current examination of the topic (2020). It is clear that there are little or no opportunities for remote work for many firms (about half of those analysed in the aforementioned survey).

The acceptance of remote work and an increasingly digital work environment depends heavily on context and sector. Nonetheless, it's one of the major developments in the field of global HRM, which poses difficulties for work-life balance. Employee satisfaction

Many employees' expectations and experiences, as well as those of employers, have altered. Nonetheless, in order to maintain business continuity, companies' capacity to react swiftly while also enduring such changes will be crucial. In the post-pandemic globalised world, organizations at the highest level and worldwide HRM will need to exercise agility, market responsiveness, and innovation in how they proactively assure diversity and inclusion.

Conclusion

Within this study I examined the contemporary trends in global human resources management. Here highlighted four major topics, such as transform the artificial intelligence, diversified workforce and equal employment, cloud based HR practices and  remote working and digitization.

References

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Caligiuri, P., De Cieri, H., Minbaeva, D., Verbeke, A. and Zimmermann, A., 2020. International HRM insights for navigating the COVID-19 pandemic: Implications for future research and practice. Journal of international business studies, 51, pp.697-713.

Saxena, A., 2014. Workforce diversity: A key to improve productivity. Procedia economics and finance, 11, pp.76-85.

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