The Importance of Human Resources in a Globalised Economy: A Conceptual Framework

Emily Barnes, Catherine Adam

Abstract


The role of human resource management in contemporary competitive industry is critical to the survival of all firms. Yet most of the response to the financial crisis has focused on macroeconomic aspects and there is relatively little research on the role of human resources. Secondly, the issue of globalization has been addressed predominantly in, and with respect to, the developed economies of Western Europe, North America and Japan. This review attempts to address these two limitations. Since the human factor is the key in the new era of globalization the primary objective of this paper is to present a conceptual framework for effective management of human resources as a response to the growing interaction of globalization and business performance


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