Impact of globalization on HRM

  Performance management Figure 1 : Performance Management system The annual performance review procedure comes to mind for many people when discussing performance management. The performance appraisal, however, is just one element of what is seen as performance management. Michael Armstrong's Handbook of Performance Management, which carefully and simply lays out the Armstrong performance management cycle, offers one of the better definitions of performance management:   ​“Per­for­mance man­age­ment is the con­tin­u­ous process of improv­ing per­for­mance by set­ting indi­vid­ual and team goals which are aligned to the strate­gic goals of the organization , plan­ning per­for­mance to achieve the goals, review­ing and assess­ing progress, and devel­op­ing the knowl­edge, skills, and abil­i­ties of peo­ple.” The fact that performance management is a continuous process rather than an annual "one-off" activity is crucial in this context. Therefore, quality performance

  What is VRS? Voluntary Retirement Scheme   Figure 1 : Voluntary Retirement Scheme Companies provide their employees with the option to retire voluntarily before they reach retirement age through a program known as a Voluntary Retirement Scheme, or VRS. Retirement is something that, as we all know, is related to getting older, although many people look to retire far earlier. Employees are able to do this thanks to the voluntary retirement scheme, or VRS. Offering VRS to employees is primarily intended to help businesses cut back on surplus staff, decrease costs, and boost productivity. The Voluntary Retirement Scheme, or VRS, is a benefit that employers provide to their staff members that allows them to voluntarily cease their employment and retire early. Offering VRS to the employees in these situations is a fantastic method to ensure that while doing what is essential for the company, the employees are also rewarded. Companies frequently have to let go of people for a vari

  Work from home concept is a better practice even in this economic crisis . Figure 1 : Work from home   Work from home is a form of flexible work arrangement that enables an employee to do work from a location other than the company's headquarters. This arrangement can help assure work-life balance, provide access to professional prospects, or save on commuting expenses for employees who can finish work offshore. The organization will gain from improvements in productivity, higher personnel retention rates, and cost savings on physical resources. Temporary or permanent, part-time or full-time, infrequently or frequently, remote employment arrangements are all possible. Policies controlling the usage of equipment, network security, and performance standards are necessary for remote work (Gartner, 2023) .   Importance of the Work from Home (WFH) Concept The idea of working from home is important nowadays. The employee's productivity is maintained or improved while