The globalization of business which is considered a 'second industrial revolution' is a trend that makes Cross cultural Human Resource management crucial for all organizations. Multicultural workforce congregations and increasing global interactions in business, finance, culture etc. have become today's workplace realities.Cross-cultural differences are the cause of failed negotiations and interactions, resulting in losses to the firms. This study examines the best practices in managing across a culturally diverse and geographically dispersed workforce in IT and non IT organizations and makes comparative evaluation of these practices and strategies. The results of the comparative analysis study will lead to cross fertilization of ideas as the best practices for IT companies can be imbibed by and applied to the non IT companies and vice versa. This study ellucidates that cross-cultural management will give managers on international assignments the cultural understanding essential to accomplish their tasks leading to a committed workforce thereby resulting in better financial performance of the organization.