Sample Term Paper
The increasing internationalization of business through the enterprise of international subsidiaries, joint ventures, and strategic alliances, has consequence in increasing numbers of people working part of their working career abroad. There are large numbers of studies that examine the role they play in multinational companies and how these firms select, train, reimburse, and design the professional careers of these employees. However, a rapid increase in demand due to the ongoing globalization and managers’ increasing worries of the advantage of pursuing an expatriate career has contributed to a supply crisis. At present, many multinationals face a severe shortage of executives with the talent, knowledge, and sophistication to operate in an aggressive global environment (Selmer and Leung, 2002) The effective management of such personnel has been the hub of considerable attention in the International Human Resource Management (IHRM) literature. And the question is how to manage human capital on a global level. (Lee, 2000)
Importance of Expatriate Management
Numerous researchers emphasize the significance of selection, preparation, management while offshore and repatriation in contributing to the accomplishment of expatriate assignments. Assuring a triumphant relocation is truly the main concern of employers. This is particularly true if the executive relocation is part of a vital strategic move. Additionally, the thriving expatriation and repatriation of an executive can be a very precious asset to many corporations. (Rushing and Kleiner, 2003) Research in the private sector replicates the recognition that expatriate assignments must be managed effectively as such assignments are a challenge of human and economic resources, mainly if unsuccessful. The high levels of dissatisfaction of returning managers and the high attrition toll call into question current ways of utilizing recently acquired skills and perspectives and of realizing returns on investment in human capital. (Jassawala)
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