How HR Technology Improves Performance in Global Markets
Executives know that discontinuity exists at all levels of production and they do not want to find themselves caught off guard and becoming obsolete. In order to improve performance, executives realize that they have to quickly create and share new ideas, as well as develop better knowledge management processes, in order to be more responsive to market changes.
Embracing HR technology
Management leaders can implement HR technology to gauge external environments, in order to identify new opportunities that occur in an ever-changing hypercompetitive marketplace.
HR technology is an ideal tool for enabling organizations to build knowledge-based frameworks that can create and implement revolutionary ideas in a timely fashion, as they go about their business and compete in global markets.
Executives are faced with challenging economic conditions nowadays, with global competition increasing day by day, and the need to be number one or at worst two in an industry becoming more and more pressing.
Oftentimes if they fail to meet this objective, they fail to keep up with the marketplace. Global markets represent cross cultural settings and require top management specialists who can adapt to various environments successfully, in an agile manner.
There is a need to use HR technology to accomplish sustainable competitiveness in global markets. HR technology may be necessary as globalized market demands are increasingly difficult to adapt to and require much more effort to sustain profitability.
Never stop learning and innovating
With that in mind, executives may be able to enhance performance by implementing HR technology to empower human resources and enable its two core performance tenets: innovation and continuous learning.
Innovation is a necessary factor to take into consideration when evaluating the success of organizations in global markets. Fariborz Damanpour defines organizational innovation as new products or services introduced to meet an external user market need or enhance an existing one.
HR technology should be embraced at the senior level of organizations, to enable innovation through the implementation of organizational change strategies. In fact, executives that use HR technology can integrate organizational knowledge internally, to enhance the effectiveness and efficiency of their various systems and processes, as well as to be more responsive to market changes.
Through HR technology, leaders can also contribute to new product & service development, to meet dynamic market needs, through knowledge sharing of customer desires and requirements.
Two scholars, by the names of Kenneth Blanchard and Terry Waghorn, maintain that sustained performance in global markets is dependent on continuous learning. Executives use HR technology when they would like to concentrate on empowering followers in order to build a learning organization.
Therefore, taken at face value, all leaders should embrace HR technology as the complete answer to the question of innovation and continuous learning in today’s global market environment.
In conclusion, the key takeaway for top management executives and leaders in any and all organizations is to accept the challenge of HR technology implementation, in order to address the current gaps in performance and improve their competitiveness in global markets.