Challenges for Human Resource Management in the era of Deglobalization

Globalization is term used to define the interdependence of nations across that globe which arises on account of cross border exchange of goods and services. The modern-day ecommerce has enabled exchange of goods from one corner of the world to another. The need of political establishments of individual nations to ensure their economic growth is maintained, the boundaries across the nations have been shortened. Organizations have become more and more multinational to leverage the cost of goods and human resource and access to new markets leading to Globalization. In the era of Globalization, organizations have facilitated movement of people from one nation to another leading to increase in diversity of work force. As a result, many Human Resource processes were redefined and recalibrated. Technology has helped in making HR processes standardized and easily adaptable. It has never been easy for HR managers to manage these changes in HR practices and ensure employees are able to perform better. The term De-globalization is becoming more popular since Covid-19 pandemic. A lot of policy changes in promoting indigenous firms which also create more employment within the country and support domestic workers are being investigated. The concept of one world where there is a high level of interdependence and connectedness was growing, there suddenly is an alarm to take a break and maybe few steps backwards towards reducing the interdependence and developing self-reliance. This paper aims to study the impact that de globalization will have on the organizational culture, diversity, and employee wellbeing. It also tries to understand about the possible changes that HR leaders will have to make in their organizational practices to strengthen resilience so that they can sail through any possible disturbance in migrating to an era of deglobalization.