With a population of over a billion and growing, India is seen as the next big thing in this industry. Many Indian Multinationals are expanding their global footprints and securing natural (mines or oil fields) or intellectual ones (intellectual properties). Another reason that the Indian companies are choosing to go multi-national is simply because their dominant markets are in other parts of the world.
In the past two decades, the HRM has seen many developments in its research and practices. Indian Multinationals are now looking to find a link business strategies and enhancing performance.
India is also one of the BRIC (Brazil, Russia, India and China) and also has one of the fastest growing economies of the world. While the world is busy focusing on India growing IT industry, many Indian Multinational are becoming leaders or partners with other industry leaders.
Steps to having a successful human resource planning
The key to accomplishing the right Human Resource technique is to first recognize the issue ranges. Once a company knows where it is lacking, it can attend to the problem quicker and avoid any financial or emotional costs.
In Indian Multinationals, there is often a problem of ethnocentricity, where the countries end up focusing only on the problems that occur in the headquarters of their home country and often neglect those of occur in their foreign offices, which sometimes leads the companies overseas branches to suffer losses.
There are many Indian companies that going international for the first time and do not much experience in how to plan a successful human resource strategy. They quickly realize that they would need trustworthy and calculating managers in their overseas offices that would lead the company even in the absence of superiors.
The solution for such multinationals would be to mirror companies that have successful human resources strategies already in place and have a lot of experience of recruiting, training good managers all across the globe.
1.1 Recruitment
