preview

The Human Resource / Staffing Strategy

Better Essays
This paper will discuss the currency of each country as well as our strategy to mitigate the risk of currency fluctuation. It will also discuss our human resource/staffing strategy as well as wages. Japan The currency exchange between the yen and the USD is currently 1 USD to 112.13 Yen. Japan is the world’s third largest economy. They are struggling compared to previous years but “its currency is soaring against the dollar” (Mullen, 2016) and is “up more than five percent since Britain’s vote to leave the European Union” (Mullen, 2016). The yen this year alone has gained more than 19 percent and is trading about 100 against the dollar (Mullen, 2016). “A strong yen is bad news for many Japanese companies and the economy” (Mullen,…show more content…
“Communication is also easier because there should be no language and cultural barriers” (Global Staffing Approaches: Ethnocentric, Regiocentric, Polycentric, and Geocentric). “The company may also be able to transfer employees with a clear performance record that will provide some level of predictability” (Global Staffing Approaches: Ethnocentric, Regiocentric, Polycentric, and Geocentric). We will need employees in leadership and staff positions that are native Japanese so that they can connect to the people and allow us to align with not only their work culture (we will do business with businesses) but to their overall life culture. Wages. The wages in Japan have been steady over the five years with both increases and decreases. The wages last quarter were up to 660.70 thousand in yen. Which is an increase compared to last quarter being at 310.04 yen. Along with Japan the U.S. has also had an increase in wages. The average person in the U.S makes about 21.84 an hour. It would cost less for us to hire employees and pay them if they were in Japan. Which is one reason that we chose to run the business over there. Is any of this quoted from a website? Need to cite each sentence and include it in the bibliography if it is. None of the reference
Get Access