Globalization’s Impact on Current Workspace

Before we move into the details of this article, it is extremely important for me to ask you one simple question — are you under the notion that globalization is still ongoing and/or a phenomenon in its adolescent stages? If your answer is ‘yes’, then I have some news for you which could be good or bad, depending on how you see globalization as, of course. Read on.

The news is such. Globalization is now diminishing. It has already existed and turned different, yet all, parts of the world around 360 degrees at least a number of times in the vicinity of 5 to 5000. It has made various genres of organizations not just rethink how they should handle their HR, but also their finances, organizational structure, all processes- even their core operations. Consumers, clients and demand changed overnight, and so did every organization catering to them. For some, the process took years. Some, overnight. But all that is the past now. It’s over… -ish.

This diminishment is, well, progressive. If you genuinely did answer my first question as a ‘yes’, then dear reader, about time you got out of your cave. Globalization has gone so wide and long, has disrupted everything and brought such a change so soon — that its results feel completely normal now. Like it were always there and is so set in stone everywhere, that is now inevitably part of our lives.

You can look up the various articles that were presented at the 4th World Conference on Business, Economics and Management, WCBEM, 2015. It’s a string of about 100+ pdf documents if you google it.

Now that I’ve brought some light to the current state of globalization in our world, I’m sure you want to know how it is even affecting your organization- workplace and up.

Apologies if I made Globalization sound like a Zod vs Superman level catastrophe from the Batman v Superman movie by the way. It’s not. I actually connect it with Dead Poets’ Society. But anyhoo.

Coming to what you are here for:

Increased Cultural Diversity

Companies are now dealing with increased cultural diversity within their organization. This is making organizations of all sizes and capacities revisit their guidelines and HR management ways. Differences in work ethics, culture and religious diversity are there to dealt with. Whether that becomes a boon or a cake too-hot-to-handle depends completely on how the people of your administration are willing to treat the little earth, along with all it’s diversity, in your workforce.

This increased cultural diversity definitely produces many benefits as companies gain new insights into different cultures from a management and a marketing standpoint.

Earnings Changes

There are two earnings we’re talking about here — your employee’s salary and your own profits.

  • Talking about salary; Currency conversion rates don’t make much of a difference when the standard of living in your country is extremely different to that of your employees’. The salary amount doesn’t make any difference if the employee knows that the standard of living you’re offering to the that person is far less than what s/he deserves.
  • In terms of your profits; as long as the diversity in your workforce is kept well and your HR management is doing a good job in maintaining team morale, your profits are bound to increase multiple times over.
Employee Training

Cultural, religious and ethnic diversity in the workplace presents a need for more employee training. In order to protect their companies and their new employees from discrimination, managers have had to implement policies and offer training to existing employees to make sure everyone learns to accept one another, if they don’t know how to already. This leads to a greater appreciation of other cultures and viewpoints in some companies, while the management learns which of the older employees will prove to be a hindrance in the firm’s growth.

Increased Standards

Companies in all countries, have had to adopt a more global standard in terms of providing better workplace safety and increasing workplace condition standards. This directly benefits the employees who may have been previously working in perfect rows and columns with a small little desk of their own. Having co-working spaces and making whatever changes necessary to make sure that employees are able to brainstorm and be better in things that they are already the best in, is the new global standard.