Give a suggestion whether liberalization and globalization played a role in the growth of HRM (Essay Sample)

Student (Name) Tutor (Name) Program Date Introduction There is a substantial body of literature that suggests that economic liberalization and globalization have played a significant role in the growth of strategic HRM in organizations. Both economic liberalization and globalization have had a significant impact on the development of strategic HRM in enterprises. These processes have created a need for organizations to manage their human resources in a more strategic and effective manner in order to remain competitive in a globalized marketplace. Economic liberalization refers to the process of reducing government restrictions on economic activities, including the removal of tariffs, subsidies, and regulations. This process has led to an increase in global competition, as organizations can more easily enter and operate in different markets. As a result, organizations have had to become more strategic in their approach to HRM in order to remain competitive. Contrarily, globalization, on the other hand, describes the growing connectivity and dependency of the world economy. This process has led to an increase in cross-border trade, investment, and migration, as well as the spread of technology, ideas, and culture. Globalization has also contributed to the growth of strategic HRM in organizations, as it has created a need for organizations to manage a diverse and dispersed workforce, as well as to adapt to different cultural and legal environments CITATION Sun19 \l 1033 (Sunkel). One of the key ways in which economic liberalization and globalization have driven the growth of strategic HRM is through the increased importance of human capital. As organizations compete in a globalized marketplace, they have come to recognize the value of their human resources as a source of competitive advantage. This has led to a focus on talent management, employee development, and the creation of a positive organizational culture. Another way in which economic liberalization and globalization have influenced the growth of strategic HRM is through the increased use of HR technology and data analytics. As organizations operate in a globalized environment, they have had to rely on technology and data to manage their human resources more efficiently and effectively. This has led to the development of HR systems and platforms that enable organizations to track employee performance, identify areas for improvement, and make data-driven decisions. The increased importance of human capital in a globalized economy has also contributed to the growth of strategic HRM. As organizations compete in a globalized marketplace, they have come to recognize the v...