Strengths And Weaknesses Of Human Resource Management
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Is a Human Resource Degree Worth It? (Human Resources Management)
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He is able to gel well with the organization. The employee is very productive to the organization as his motivation levels are very high. He feels the organization has lauded him for all the past hard work and is therefore driven to outdo his performance in the future too. For the proper functioning of the organization, it is sometimes imperative to induct new employees. The new employees bring with themselves new ideas, objectivity and perspectives. This opportunity is lost when the organization trains and elevates an existing employee to a higher position and stature.
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Select a referencing style:. Copy to Clipboard Copied! Reference IvyPanda. The third phase was triggered by the Asian financial crisis in Numerous companies and private households went bankrupt. In response, the Korean government complied with recommendations by the IMF and the US to restructure the economy, including deregulation and dismantling of Korean conglomerates. In the wake of these changes, Korean companies adopted a US-style performance-based HRM system and flexible labor markets. Korean has entered the fourth phase. Korean companies have assumed important roles in the global economy, e. Meanwhile, medium economic growth rates, declining demography, changing gender roles, and an influx of immigrants at home present major challenges for the management of Korean companies.
What are the consequences for Korean HRM? Korean companies have adopted Japanese and US practices, and partly formed their hybrid HR practices blending these different influences with its indigenous origins. Compared to Japanese companies, Korean companies have more aggressively embraced US practices Froese et al. First, Korean companies tend to have a highly systematic recruiting system. Korean companies invest heavily in employer branding and conduct sophisticated tests and multiple rounds of interviews to select suitable candidates. While Korean companies prefer to hire entry-level candidates, they also actively hire talent at mid and higher levels.
Fit between the organizational culture and candidate values is important. Second, rooted in Confucianism, Korean companies have placed heavy emphasis on employee training and development. They combine various on-the-job and sophisticated off-the-job trainings. Most medium and large Korean companies maintain their own training centers and offer various training programs specifically tailored to different employees.
In addition, they cooperate with external educational institutes and universities. Some companies offer sponsored executive training and MBA programs to motivate high performers. While the budget for training has declined in recent years, Korean companies tend to provide more training to their employees than most companies from other countries Hemmert Third, Korean companies have developed a hybrid system of seniority and a performance-based system of pay and promotion. Although Korean companies originally adopted the Japanese seniority system, Korean companies have aggressively adopted performance-based pay and promotion.
Individual performance-based bonus payments, fast-track promotion, and profit-sharing systems have become widespread. At the same time, some elements of seniority linger on. However, the workforce of Korean companies is becoming increasingly diverse, at home and abroad due to external pressures Froese et al. More non-Koreans and women work for Korean companies. While the diversity literature discusses various other diversity characteristics, I will focus on these two groups of employees in this commentary, because they are the most prominent groups in Korean companies.
The changing demographic makeup of the workforce reveals the following weaknesses in the Korean HRM system. First, Korean companies have a very traditional staffing approach, mainly promoting Korean men to upper management positions. Senior Korean male managers and owners have preferred to put Korean men into upper management positions. This ethnocentric staffing approach discourages talented women and foreigners to aspire management careers in Korean companies. Second, while selected Korean HR practices have adopted US and Japanese influence, the organizational culture has changed little during the past decades.
The corporate cultures of most Korean companies can be characterized by strict hierarchies, collectivism, paternalistic leadership styles, and long working hours. These traits are not compatible with a diverse workforce. In particular, strict hierarchies are problematic for most non-Korean workers, who are used to flat hierarchies, discussions, and joint decision-making. Further, these long working hours are not matched by pay and productivity. This has implications for foreign talent attraction, especially for those from Western countries who are used to being paid well for their time.
Third, the corporate language of most Korean companies is Korean. However, Korean is not widely spoken outside of Korea. This severely limits the communication with foreign subsidiaries, employees, suppliers, and customers and limits the career opportunities for non-Korean managers. Offering foreign language courses to Korean managers is not a sufficient solution.