The Impact of Globalization on HR Management: Implementing Effective Performance Management to Retain Talented Employees in a Global Economy

Abstract

The affects of globalization are creating a talent-depleted workforce throughout the United States. Companies must begin using the ever increasing rate of globalization as a context to understand the increasing competition for talented employees and to immediately begin implementing procedures to retain talented employees already within their organizations. Cultural shifts must occur within companies to transfer many of the responsibilities traditionally assigned strictly to the human resources department to first-line supervisors and managers. It will be shown that by using enhanced performance management techniques, focusing specifically on the supervisor–employee relationship, companies will be able to dynamically change with the needs of their workforce, thereby building relationships of trust and retaining talented employees.

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