Global Business: A Paradigm Shift in HR

The competitive pressures brought by the new economy call for a paradigm shift in the role of the human resources (HRs) function. In order to respond to the demands of globalisation, HR managers will require new skills and competencies in identifying new business opportunities, in defining business strategy and corporate priorities, as well as in preparing the organisation for continuous and often disruptive changes. Thus, HR professionals must play special roles in dealing with these changes and must develop specific competencies to support these roles. The future role of an HR professional will change from a less administrative role to a more strategic one, as a result of which HR practices are becoming more and more challenging day by day for HR professionals.