It is rightly said that HR staff should be involved in the strategic decision making process relating to the international business operations which include finalising a joint venture agreement. It happens many of the times that many of the business organization who are involved in undertaking new joint ventures neglect the aspect of human resource management which is considered as highly important in every organization (Bratton & et. al., 2021). A joint-venture can basically be defined as a company which is created out of two or more companies with equal share. The Major Purpose Of Joint-Venture Is To Join All The Strengths In Order To Achieve The Objectives Of a Specific Project In An Alliance. In this context both the organization combined their knowledge technology and all the resources in order to share the risks and profits associated with the joint venture. In accordance to the question mentioned above it is highly necessary that HR staff should necessarily be involved in order to make different types of adjustments that are specifically concerned to the joint-venture project. The process of recruitment and selection of the candidate is considered as a very long process therefore it must be made sure that HR is integrated to the strategies made by companies in order to achieve the end objective in the most efficient manner.
Sometimes, it happens that because of the selection of wrong workers company has to face a lot of issues or problems which will result in loss of money and the waste of time (Margherita, 2022). Here, human resource management and the staff of human resource can play the most efficient role that will help in achieving success in the international business in association with the joint venture the company is planning to go for. It will also include different human resource policies that will help in developing the competitive strategy for the business organization. There are various rules and responsibilities that the human resource staff has to perform before the joint-venture takes place including screening of the prospective partners that are going to be involved in the joint venture (De Cock, Andries, & Clarysse, 2021). They also have to check on the due diligence that has been followed in the most proper way. The
communication of the exit strategy and terms of dissolution of the joint-venture must be told to the higher management along with all the consequences involved.
During the process of joint venture which are majorly driven because of the means and requirements of the business organization, it is the major responsibility of the human resource staff to make it sure that they translate particular business plan to the people of the organization effectively ( Rees & Smith, 2021). In accordance to the question mentioned above, it is highly significant to develop human resource strategies that must align and direct the goals of the joint venture. And while considering the strategic decision making process in context to the international business operations, HR staff is highly responsible for performing various tasks (Luu, 2020). The human resource professionals have the responsibility to maintain a productive working environment by making it sure that all the employees are having proper skills and knowledge to perform the business functions. Therefore, they play an important role in providing the ongoing training during the time of joint-venture. During the process of the joint venture, HR staff is not just restricted to perform the functions of hiring or managing benefits, but they also deal with strategic decisions related to taking control of all the healthcare costs involved, reducing the employee stress and increase the participation of the employees towards the attainment of the organizational goal. As the business organizations are becoming more global and international these days, the job of HR professionals is also increasing significantly (Pattanayak, 2020). They act as business partners and play a major role in orienting the new employees to the workplace to make them comfortable. It can be considered that the human resource professionals are working with managers cooperatively on the production lines as well. When the business are going towards adopting an international approach to attain growth and development, human resource professionals have to ensure that different teams are working well together towards the respective motive set by the company. HR staff can also conduct some team-building seminars, play a role in promoting the cultural diversity and motivating the employs to not only work towards the organizational goal but also to attain the personal goal as well. This will help in ascertaining higher level of efficiency and consistency throughout the course of business functions performed. The whole segment of human resource management and the human resource staff is playing a significant part in bridging the gap between the work tasks of the HR teams and the ultimate mission of the business organization (Malik & Sanders, 2021). They always make it sure that all the HR policies, procedures and compliance are done on time so that high-performance culture can be promoted to attain growth. Therefore, it can be considered that the human resource staff is acting as a strategic partner for the business organization which can help to drive towards the goals of the organization.
References
Anlesinya, A., & Susomrith, P. (2020). Sustainable human resource management: a systematic review of a developing field. Journal of Global Responsibility.
Bratton, J., Gold, J., Bratton, A., & Steele, L. (2021). Human resource management. Bloomsbury Publishing.
De Cock, R., Andries, P., & Clarysse, B. (2021). How founder characteristics imprint ventures’ internationalization processes: The role of international experience and cognitive beliefs. Journal of World Business, 56(3). 101163.
Luu, T. T. (2020). Integrating green strategy and green human resource practices to trigger individual and organizational green performance: The role of environmentally-specific servant leadership. Journal of Sustainable Tourism, 28(8). 1193-1222.
Malik, A., & Sanders, K. (2021). Managing human resources during a global crisis: A multilevel perspective. British Journal of Management, 10. 1467-8551.
Margherita, A. (2022). Human resources analytics: A systematization of research topics and directions for future research. Human Resource Management Review, 32(2). 100795.
Pattanayak, B. (2020). Human resource management. PHI Learning Pvt. Ltd..
Rees, G., & Smith, P. (Eds.). (2021). Strategic human resource management: An international perspective. Sage.
Related Essay Examples
