Four Factors That Affect Human Resources Management in International Markets

BHR 3352 UNIT 7 #12
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Four Factors That Affect Human Resources Management in International Markets
In the global market, four factors that affect human resources include education, culture, economic systems, and political or legal systems. Cultural influences include traditional customs and beliefs, language, and even religion. Culture affects human resource management because it determines certain business practices. For example, if a country laws are based on their tradition it will affect what people values, the overall economic systems investments, and even education (Noe, Hollenbeck, Gerhart & Wright, 2011).
Education affects human resource management in that countries have different education systems that determine the labor market. Countries that spend greatly on education provide better job opportunities to it, citizens. This is also reflected in business, companies who spend more on build capacity of its employees have highly skilled employees (Noe, Hollenbeck, Gerhart & Wright, 2011).
The political or legal system also dictates the certain requirement and practices of human resource management including layoff and hiring. The legal system greatly determines human resource management for example through legal obligation in the US discrimination has been eliminated in workplace providing equal opportunities to everyone. Economic system also affects human resource management I that under a socialist economy there are minimal economic incentives to enhance human capital .on the other hand the capitalist system have better incentives through wages (Noe, Hollenbeck, Gerhart & Wright, 2011).
Among the four factors, culture is the most important factor that influences human resource management. Different cultures affect the labor markets depending on their practices. Cultural differences affect working relationships because it is difficult to work with diverse cultures. Cultural differences affect human resource management depending on how the management approaches autocratic approach is a common culture compared to part...