#Impacts of globalization pdf free

Hence organizations are keen to take care of expatriation and repatriation issues or meeting relocation costs to keep their employees motivated and to retain the best performers and keep building a global talent pool.

The CEOs and senior recruitment consultants have to talk about why selecting and developing global managers. However, on the recruitment front, as globalization evolves from being a mere corporate co rporate buzzword to basic economic reality, more and more organizations are realizing that they need managers and workers with skills that conform to the international standards. Among the employment benefits that are prevalent are VRS, ESOP and other fringe benefits. Businesses will continue to adjust their operations according the competing goals of earning profits and responding to public pressures for them to behave in ways that benefit society. Some companies are also now more aware of the economic and social benefits of being active in local communities by sponsoring events and encouraging employees to serve on civic committees. Firms in developed nations now promote-and are often required by law to observe-nondiscriminatory policies for the hiring, treatment, and pay of all employees. In response, public pressure has increased for businesses to take on more social responsibility and operate according to higher levels of ethics.

#Impacts of globalization pdf free

With large mergers and the development of new free markets around the world, major corporations now wield economic and political power then the governments under which they operate. Eventually many business houses have begun consolidating their businesses and large number of acquisitions and mergers have started taking place. Another step that was taken in the wake of globalization or in the post-В New New economic policy 1991 era was the governmentвЂ™s decision to disinvest their stake in the equities of leading public sector undertakings. This includes the introduction of quality management system, identification of NPAs and finding ways wa ys and means to transform organizations into strategic business units or profit centers. Due to liberalization of economy, several organizations have taken a number of steps to improve operational efficiency. Thus it has a wide scope and the present work attempts to highlight this impact as consequences of globalization and liberalization. THE IMPACT OF GLOBALIZATION ON INDUSTRIAL RELATIONS The impact of globalization extends from human and social or ethical perspective to the strategic or technological perspective.