Global Human Capital Management Trends

Casino Employee Retention Successful employee retention is one of the most important and challenging jobs of a manager in any business. Skilled professionals are in high demand, hiring and keeping talent can be difficult for many businesses including casino industry. As someone who worked in a casino business for 26 years, I have witnessed the repercussions of employee turnover. Casino employee turnover costs company money, time, and productivity, hence the managers seek to meet workers expectations in terms of schedule, compensation, and overall job satisfaction.

The continuous growth in global business interactions and partnerships constitute the necessity for business partners to understand the cultural differences in society. This growth has led to increased competition and customer expectations which drives the need for innovation from a variety of human resources (Saray, Patache, Ceran (2017). The importance of understanding the international business culture and how to properly communicate is extremely crucial to form a strong relationship. The driving force behind human behavior is culture (Moran, Abramson, and Moran, 2014, pp.11). Behaviors, attitudes, productivity, and morals are all driven by culture (Moran, Abramson, and Moran, 2014, pp.11). The ability to recognize the cultural differences, emphasize employees’ roles, drive empowerment and make the necessary accommodations is a key measure to achieving strategic goals (Saray, Patace, Ceran (2017).

Another major issue that needs to change is the managerial style. Currently, DCCL is operating in a classical managerial style. This has caused problems from poor communication, lack of motivation, low job satisfaction, and increased employee turnover rates. In order for DCCL to change their managerial style, they need to re-evaluate which style would work best. We believe that DCCL will excel with a shift to a human relations managerial style; this will allow for more autonomy and individual responsibility from employees, while still allowing managers to retain a level of control. Currently, managers are having to make every decisions and also supervise employees, such as the TSS’s, to an extreme degree.

Communicators who succeed in a diverse workplace must educate themselves about different cultures and co-cultures. Treating people from different cultural backgrounds with respect is essential. Finally, being willing to acknowledge and discuss cultural differences can help communicators understand and appreciate one another. The impact of culture and listening is very important in everyday life. Think about how many times you have had problems understanding someone from a different culture or even a different sub-culture. Now think about how many times someone from a different cultural background may have had problems understanding you. I know realize once that e-mail was

Those that go into the business world quickly recognize that each work environment they find themselves in can be total different from another. This can especially be said even of environments within the United States, from region to region. There is definitely a disparity of workplace environments from country to country. Not only can culture drive a varied atmosphere, but the diversity of the personnel making up that environment can equally create a challenge that a leader must be prepared to manage. Recognizing that special care needs to be placed on communication and perception skills is crucial in our present professional domain. Managers of today need to employee tools from the psychological and sociological field to be successful. Having a deep understanding in the differences in culture and diversity in the workplace is critical, especially when debating about accepting a position overseas or assigning an employee to an embedded position abroad. With a broad knowledge of cultural differences and diversity, success as a manager and the stability of a positive work environment can be achieved and maintained without unnecessary effort and focus.

Today’s workforce is not what it was years ago. Times have changed. Management has shifted and leaders are scrambling to find new and innovative ways to maintain their success. In a successful organization, employees and management share the same goals, communicate effectively and adapt to change. Creating a successful organization can be difficult. However, it can be done through the use of effective leaders, goals, strong communication and a balance between departments. While trying to maintain a successful organization requires a lot of work, it is almost inevitable that establishments will fail and issues will arise.

This has highlighted a crucial issue for international companies to be aware of the cross-cultural implications in the conception, design and implementation of the various market entry strategies for the Chinese markets, especially when considering the Human Resources Management strategies since Corporate Strategy will in turn determine the Human Resource (HR) strategy to be deployed.

When Robert Horton left his position as Chairman and CEO of BP, the company was in financial trouble and the employee morale was notably low. The company was experiencing losses, the debt-to-equity ratio was out of control, and the company had positioned itself in so many diverse markets that most of the employees had no idea what the company mission and goals were. When David Simon took over as CEO, he was faced with the daunting task of turning the wayward company around. Simon accomplished this task for three reasons: he diagnosed and modified the organizational culture; he possessed important leadership skills; and he knew how to motivate employees.

The rapid pace of Globalization has led to a change in the global economy during the past several decades; it is believe that factors such as trade liberalisation, access to cheaper labour and resources, similarity of consumer demand around the world, and advances in technology and communication has widened the market of consumption, investment as well as production on a global scale. These globalization driven factors created new challenges and global competition for businesses around the world thus as a response many companies decided to expand their operation across national borders in order to be competitive. A company that operates their business in at least one country other than its country is called Multinational

Summary: Since inevitable change of diversification is taking place in the workforce due to the globalization, therefore, understanding of culture and diversity is of great importance for manager to manage a multicultural team where people has different values, beliefs and conventions. To find out how important culture and diversity are to team management in international business, this article emphasized on the important effects of culture and diversity to multicultural team and the solutions to deal with cultural barriers for manager when effectively managing a team. By comparing different types of cultural issues, results suggested that understanding culture and diversity can enhance effective-decision

Managing a diverse workforce assists in creating a vivacious and assorted business team with opportunities and challenges for people of all aptitudes and experiences, besides host country nationals. In addition, by managing a diverse workforce assists in the facilitation of change in a country’s normal operating business practices. According to Hofstede’s dimensions of culture model, one could better understand the challenges faced by multinational managers in regards to human resource management, leadership style, motivational assumptions, decision-making, organizational design, and how culture can affect strategy implementation (Cullen & Parboteeah, 2014, p. 52). Furthermore, one can imagine how important manger actions and behavior are in educating future business leaders on how important it is to have a global mindset (“Social,” 2014). Lastly, although some consider the challenges mentioned obstacles, one could also consider finding opportunities in learning and progressing as a manager by being flexible and knowledgeable about different business possibilities and styles.

To be a successful manager in dealing with culture diversity, one must know how to deal with the differences of the cultures. They should first carefully evaluate their cultures, policies and practices. As well as the demographics of their labor pools and customer bases. Only after this diagnosis has been finished

Different countries have different educations, background, qualifications and experience; people can develop different viewpoints for solving problems. By learning different cultures employees can know the habits of others and avoid conflicts.

Managers were concerned about knowing and understanding each and every perspective of their employee’s cultures. As they know that without studying or knowing the culture, coordination cannot be built between the employees. It is the existing perspective of managers dealing with cross-cultural management (Sultana, 2013).

Businesses that are facing hard times often need large scale changes. They need a strategy that focuses on promoting the strengths of the company, whilst removing and reengineering the weaknesses. A solution that focuses on the employees and their environment and creating small lasting changes within the organisation, to increase its ability to adapt and perform in the future. This is the type of solution that the newly appointed CEO of Simmons, Charlie Eitel, not only wanted but also needed.