Question

Original work and APA references please.

Explain the unique characteristic of human capital for the right fit for International Human Resources Management operations of hiring expatriates.

Define ALL four ERPG Model of (1) ethnocentric, (2) geocentric, (3) polycentric, and (4) regio-centric/region-centric staffing approaches with the ability to adapt to different cultures in foreign environments. What are the strategies and challenges?

Answer 1

Answer - Unique characteristics of human capital:

• Skills & qualification - The ability of human capital to match up with their job roles and be consistently productive is largely dependent on their skills and qualification. The right alignment of the workforce with job expectations results in the right output at the right time.
• Work experience - Having relevant previous work experience and being able to implement these previously learned skills on the new job helps deliver accurate output with greater precision.
• Social and communication skills - Apart from technical and professional skills, social and communication skills help in the correct fitment of the individual in organization culture and communicate correctly with clients.
• Habits and personality test - Habits and personalities impact work patterns and have a direct impact on productivity.
• Individual fame and brand image - Organization's brand image sometimes sets rules for human capital investment and culture development.

ERPG model:

1. Ethnocentric - The work practices of the home country become standard default which other subsidiaries need to follow. Such companies have no product specialization approach suiting various market needs and no differentiation between native and overseas markets.
2. Geocentric - This is more of a global marketing approach, where consumer product needs are considered and addressed across the borders, bringing in the best for their consumers and business.
3. Polycentric - Here the company gives equal importance to every country's domestic markets and market-specific strategies are carried out.
4. Regiocentric - the company finds economical, political, legal similarities between regions in order to satisfy the similar needs of consumers of two regions.