Innovative HR Strategies from Around the World: 4 Practices Driving Global Success

Human Resource Management (HRM) is an essential function within an organization that focuses on managing and developing its workforce. The primary goal of HRM is to ensure that the organization has a capable and motivated workforce to achieve its strategic objectives.

HRM involves various activities, including recruitment and selection, training and development, performance management, compensation and benefits, and employee relations. Through these activities, HRM aims to attract, develop, and retain top talent, enhance employee engagement and productivity, and create a positive work culture that supports the organization’s success.

Effective HRM practices are crucial for organizations of all sizes and types to achieve their goals and remain competitive in today’s rapidly changing business environment. By investing in its workforce, an organization can improve its reputation, reduce employee turnover, and increase overall profitability.

What are the Ways of Creating a Willing Workforce?

Creating a motivated workforce is crucial for any business, and studies show that job satisfaction is a significant factor that influences employees’ commitment to their work.

In fact, a survey reveals that a staggering 74% of employees are willing to take a pay cut to work at a job they love.

To achieve this, it is essential to provide a seamless experience that caters to employees’ needs and aligns with the company’s vision. While there is no one-size-fits-all solution, adopting some of the best global HRM practices can provide a foundation for success. These practices may include a combination of time-tested and proven methods as well as modern approaches to address shifts in the industry due to the pandemic.

Striking Differences Between HR Activities and HR Practices

It’s important to understand the difference between HR practices and HR activities. While HR practices form the foundation of HR operations and include the strategies to achieve goals, HR activities are the everyday tasks that implement these practices.

HR practices answer questions related to what the organization wants to achieve and why, while HR activities address how these goals will be achieved. For example, developing talent and future leadership is a good HR practice, and providing training and upskilling opportunities is an HR activity that supports this practice.

In essence, HR practices are the overarching principles that guide HR activities, and both are crucial for a fully functional HR department.

Here’s a list of global HRM practices businesses must follow:

• Hire the Right Kind of People:

As an HR professional, one of your top priorities is to hire employees who share your company’s values and beliefs. This is because the right employees can significantly boost productivity, shape a positive work culture, and enhance employee morale. Therefore, hiring the right people is critical for successful HR practices worldwide.

To achieve this, it’s essential to strategize your hiring process. This may involve creating specific job personas for each role and screening candidates who align with those personas. Effective hiring procedures such as panel-based interviews or internships can also help you identify the right candidates for the job.

Furthermore, adopting a global hiring strategy can widen your pool of potential candidates and bring in a wealth of benefits, including increased productivity, improved employee engagement, and cultural diversity. However, setting up local entities in every location you hire can be time-consuming and expensive. Therefore, using hiring tools such as virtual onboarding and Employee on Record (EOR) tools can help streamline the process and save you time and money.

Overall, utilizing effective hiring practices and tools is crucial for identifying and hiring the right employees for your organization, whether locally or globally.

• Employee Management:

As an HR professional, managing employee performance is a critical aspect of ensuring that employees can perform at their best and achieve organizational goals. Providing regular feedback and evaluations can help employees understand their roles and responsibilities and focus on achieving their targets.

It’s essential to recognize high-performing employees and encourage them to continue their good work. Similarly, feedback can help underperforming employees identify areas for improvement and take corrective action.

Transparency is another key practice in global HR management. Open communication and feedback can help employees feel trusted and respected, leading to better engagement and participation. Employees who feel well-informed are more likely to contribute to decision-making and provide innovative ideas that can promote organizational growth.

Engaging and empowering employees is also vital to promoting productivity and growth. Offering opportunities for upskilling and professional development can help employees keep up with the latest industry trends and technologies. Engagement through empowerment adds value to the organization and is an age-old HR practice that has stood the test of time.

• Compensation and Benefits:

Compensation and benefits are vital components of a comprehensive HR strategy that can help your organization attract and retain top talent.

COMPENSATION

Providing fair compensation is essential to motivate employees to perform their best and exceed expectations. A competitive compensation plan should consider factors such as individual performance, the value of the employee’s contributions to the business, and industry standards. By developing a compensation package that exceeds market averages, you can retain high-performing employees and promote continued growth within your organization.

BENEFITS

Benefits are a crucial component of any compensation package and can significantly impact employee satisfaction and loyalty. Providing benefits that offer value to your employees can help them feel appreciated and valued. Common benefits include health insurance, travel allowances, family leave policies, profit-sharing plans, and mentorship programs. Additionally, offering a comfortable work environment and culture, including flexible working hours, open discussions, and mental health support, can improve employee morale and engagement.

In light of the pandemic, many organizations have expanded their benefits to support their employees during these challenging times. These benefits include options for remote work, strategies to promote work-life balance, and health insurance plans that cover the medical expenses of employees and their dependents in the event of a Covid-19 infection.

• Create a Safe Workplace:

Establishing a safe workplace is an essential component of global HR practices, given the amount of time employees spend in the office premises. It is your responsibility as an HR professional to ensure the safety and security of your employees.

PREVENTING WORKPLACE ACCIDENTS

Safety procedures must be in place to ensure a secure workplace, including conducting regular safety drills and raising awareness about various safety aspects. Proper sanitization and screening procedures must also be followed due to the pandemic. Vulnerable areas must be secured, and fire drills must be conducted regularly.

PREVENTING VIOLENCE AND ABUSE

Workplace violence and abuse are unfortunately becoming more common, especially against women. As an HR professional, you must have dedicated policies in place to prevent such incidents. These policies must be strictly followed and enforced. Policies against misconduct and anti-ragging policies should be included in company laws and policies.

By taking these measures, you can ensure a safe workplace for your employees and prevent any unfortunate incidents from occurring.

Conclusion

There have been new challenges for HR departments, and as a result, global HRM practices have had to adapt. To ensure that your workforce is aligned with the company’s goals, it’s important to follow the best practices in global HR management.

While HR professionals strive to implement the best practices, the scope of their role is expanding, making it challenging to manually track and measure their impact. This is where advanced HR tools.