7-2 Final Project Milestone Three Global HR, Diversity, Risk Management, and Social Responsibility

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1 7-2 Final Project Milestone Three: Global HR, Diversity, Risk Management, and Social Responsibility Rachelle Robinson Southern New Hampshire University OL-600: Strategic Human Resource Management Dr. Kathy Rocker January 2024

2 Diversity and Inclusion One of the biggest challenges in the world of human resources is an ever-changing, evolving world and workplace. In the past, many organizations were not faced with the same challenges we face today, due to lack of diversity or cultural awareness in the workplace. In today’s political and social climate, diversity and inclusion are often at the forefront of people’s minds, and this applies to all areas including human resources. The varying ages, ethnicities, and cultures amongst employees encourage human resource managers to examine how these differences impact departments and teams across the board. Generational differences between employees of Generation X and Generation Z, from the Baby Boomers to Millennials, mean that there are differences in technical abilities, adaptability and flexibility to change, and communication. There are several strategies to help manage a diverse workforce that human resource managers and employees can utilize in their roles, to both strengthen the company and its employees. One way is to review internal policies and best practices to see if the current structure supports inclusion and to identify existing issues that may need to be addressed and what improvements can be made (Gonzales, 2023). Another strategy is to effectively communicate with employees and hear their point of view, as well as feedback on where things can be changed for the better. Constantly communicating with the workforce by giving feedback, coaching, and training will be beneficial because management is building your bench strength, aligning to the same goals, and giving the employees the knowledge of where they could be making the greatest impact within the organization (Blakemore & Newell, 2017). Consistent feedback and addressing employee’s concerns will lead to a more inclusive and aware work environment within the organization.

3 Risk Management Within each organization, there are risks that should be identified and assessed, while developing strategies to help mitigate risks and protect the company as well as its employees. Human resource personnel are one of the parties responsible for assessing where the risks lie and prioritize which ones are the most serious. The three main categories of risk are preventable risks, strategy risks, and external risks. Regardless of the department, there will always be risks associated with noncompliance, poor decision making, or other issues and the human resource department should be well prepared for these types of risks to arise. An example of a time where the strength of many organization’s risk management capabilities, especially in the healthcare sector, was during the COVID-19 pandemic. “The outbreak of the coronavirus disease 2019 (COVID-19) pandemic has forced organizations to confront unforeseen risks and caused numerous troubles for business operations” all while dealing with new and emerging risks brought on by the pandemic (Zhong, et al., 2021). This example further drives home the fact that without a contingency plan and solid understanding of the risks an organization is facing, human resource professionals and organizational leaders will be behind the curve on any unforeseen risks that may arise. There will always be risks in an organization and it is up to management to work with HR to create a plan to prevent any future damage from the possible risks. The plan needs to prioritize the risks by assessing the impact each can have. Corporate Social Responsibility Corporate Social Responsibility is defined as a self-regulating business model that helps a company be socially accountable to itself, its stakeholders, and the public (Fernando, 2023).

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4 Human resources play an important role in creating a culture of social responsibility within an organization and its community, whether it be encouraging employees to volunteer or show how the organization supports philanthropic efforts in the community. The various types of corporate social responsibility include environmental, ethical, philanthropic, and economic (Stobierski, 2021). Corporate social responsibility, or CSR, is important from an HR standpoint because it can help to drive employee engagement and satisfaction because it plays to employee’s sense of moral obligation to do good or give back. It can even help as a talent acquisition strategy because organizations can attract employees whose moral convictions match that of the company’s (Stobierski, 2021). Strategically, it is important for human resource employees and managers to know where their organization stands on social and environmental issues and how this may impact a current or future employee of the organization. If there is room to “market” how the organization is practicing CSR, that should be taken advantage of to help deliver value to the employees and their customers. HR in the Global Context Businesses are rapidly becoming more globalized, expanding overseas and competing on a global scale with other organizations for international markets. “Companies are seeking to gain a competitive advantage which can be provided through international expansion by entering markets with large numbers of potential new consumers which leads to increasing sales profits and building production facilities in other countries to take advantage of low labor costs for relatively unskilled work” (Noe, et al., p. 206, 2023).

5 Due to this change in the economic landscape and increase in globalization, many organizations are now sending employees on expatriate assignments, where they are sent to manage operations in another country. “Expatriate managers must have technical competence in their area of operations; otherwise, they will be unable to earn the respect of subordinates” and it is important to also possess other skills to be successful in these assignments as well (Noe, et al., p. 696, 2023). The expatriate manager also needs to be culturally aware of the differences between their home country and their assignment location, as well as have the capability to be flexible to new cultural norms, and strong enough to not be deterred by the initial culture shock of being relocated. The HR professional should make sure that whoever is selected for an expatriate assignment possesses the necessary adaptive characteristics, which are categorized into three dimensions: the self dimension, the relationship dimension, and the perception dimension (Noe, et al., 2023). These individuals should also receive proper training and preparation so they can behave appropriately and be able to communicate successfully in their new environment. Human resource professionals should ensure that the expatriate employee is being compensated properly to accommodate their travel and other expenses, as well as having a plan to reacclimate the employee once they return to their home country following their assignment.

6 References Blakemore, Kirsten, and Mattson Newell. “3 Tips for Boosting and Managing Diversity in the Workplace.” Inc.com, Inc., 26 Oct. 2017, www.inc.com/partners-in-leadership/3-tips-for- boosting-managing-diversity-in-workplace.html Fernando, J. (2023, April 23). Corporate Social Responsibility (CSR) explained with examples. Investopedia. https://www.investopedia.com/terms/c/corp-social-responsibility.asp Gonzales, M. (2023, December 21). 10 tips for improving workplace inclusion. Welcome to SHRM. https://www.shrm.org/topics-tools/news/inclusion-equity-diversity/10-tips-for- inclusion Noe, R. A., Hollenback, J. R., Gerhart, B., & Wright, P. M. (2023). Human Resource Management: Gaining A Competitive Advantage (13th ed.). McGraw Hill, LLC. Stobierski, T. (2021, April 8). What is Corporate Social Responsibility? 4 types: HBS Online. Business Insights Blog. https://online.hbs.edu/blog/post/types-of-corporate- social- responsibility The SHRM Body of Competency and Knowledge™. (2018). Retrieved December 14, 2023, from https://www.shrm.org/certification/documents/shrm-bock-final.pdf Zhong, Yifan, Yameng Li, Jian Ding, and Yiyi Liao. 2021. "Risk Management: Exploring Emerging Human Resource Issues during the COVID-19 Pandemic" Journal of Risk and Financial Management 14, no. 5: 228. https://doi.org/10.3390/jrfm14050228

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7-2 Final Project Milestone Three Global HR, Diversity, Risk Management, and Social Responsibility

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