Global HRM Strategy - Hilton Hotels & Resorts
The sphere of human resource management has been undergoing substantial changes in recent decades, due to the altering business practices which are now being shaped by the globalization of the increasing scope. As large multinational companies pursue expansion locally and overseas, there arises a necessity to shape HRM practices so that they are suitable for both locally recruited employees and expatriates. In this assignment potential of HRM of Hilton Hotels & Resorts in China is evaluated, paying attention to the country’s environment and global tendencies in HRM as well as existing threats and opportunities for the company.
Evaluating an International HRM Strategy: Hilton Hotels & Resorts (China)
Given the recent developments in the sphere of human resource management, it is particularly important for the companies to incorporate these novel ways, tools and, methods into operational processes in order to achieve higher efficiency of their working capital.In the report thereunder, which deals with the HRM dimension of business operations of Hilton, such relevant issues as recruitment, reward management, appraisal and employee involvement are mentioned, supplemented with a basic overview of the company and environmental scanning of the host country. This done, it will be possible to better understand, which particular threats and opportunities are contained in the US-China joint venture in the field of hospitality, and how the human resource management strategies can be shaped to stay in accordance with these nuances.
Hilton Hotels & Resorts is the globally renowned American chain specializing in hospitality, famous for the exceptional level of services it provides a stress on most exquisite customer experiences. It came to China in order to establish multiple hotels of varying brand subcategories in the country and is currently operating a successful part of the chain locally. However, establishing new joint venture elements is the event which often happens, as the net of Hilton hotels is growing larger. Therefore, shaping and re-adjusting human resource management strategies is the question which stands quite firm on the company’s agenda.
Currently, Hilton Hotels and Resorts incorporates a portfolio of 10 major brands, which comprise in total close to 700,00 rooms, 4,000 properties and over 300,000 human capital units worldwide. Annual amounts of clientele served amounts to about 125 million people. In the Chinese market, Hilton manages five hotels with 2,405 rooms in total. Economic DriversWhile pursuing overseas expansion, it is vital to gain a detailed understanding of the environment of the host country, in which the company plans to operate. Host Country ProfileIn general, the hospitality industry is one of the fastest-growing in the world, since it has been enjoying its recovery after the economic crisis of 2008. In China, number and variety of hotels in the market incurred unprecedented growth, and currently overall revenues of the sector amount to $44 billion, with close to 2.5 million hotel rooms in operation. Some experts suggest that China will soon reach its point of full penetration with little further potential for growth.
Others, however, state that current penetration …