The first decade of the twenty-first century has witnessed further growth in emerging markets, which is significantly influencing the global economic landscape. For the first time in almost two hundred years, it is in this decade that the emerging economies have caught up with, and raced ahead of, the developed ones in terms of gross domestic product. This is a trend that is likely to continue for some time as many of the developed economies struggle to recover from the global financial crisis. In particular, China and India as two fast growing economies are significantly contributing to the world economic growth and are the flag bearers of this transformation. Acknowledged as favourite destinations for global manufacturing (China) and services (India) related outsourcing, both nations offer huge growth opportunities in most products and services. However, in order to sustain their phenomenal economic growth of the past decades, both countries are facing a number of challenges to their human resource management (HRM). From a macro perspective, these issues tend to appear similar (e.g., attraction and retention of talent), but given the significant sociocultural, institutional, political, legal and other differences between the two nations, the logics underpinning the approaches to managing human resources issues appear somewhat different. This chapter therefore aims to highlight the key forces determining the nature of HRM in China and India. The chapter consists of three main sections, in addition to the Introduction and Conclusions.
|Title of host publication||Handbook of human resource management in emerging markets|
|Editors||Frank Horwitz, Pawan Budhwar|
|Place of Publication||Cheltenham (UK)|
|Number of pages||20|
|Publication status||Published - 27 Feb 2015|
|Name||Research handbooks in business and management series|