I think it is your interest that counts most. PhD is a big commitment, and if you are not interested in your topic, you'll struggle a lot.
Regarding the latest topics, I would suggest you to consult your professors. They are the experts, so they will know a lot more. Then research the topics suggested by them and select the one that interests you most.
Outsourcing and offshoring of labor is a big topic these days. Also, you might be interested in
No Easy Path to HRM Performance Measurement Systems: Exploring the Introduction of the U.S. Human Capital Assessment and Accountability Framework and the Flemish Management Code
Vandenabeele and Hondeghem, Public Personnel Management, Vol. 37, 2008
Best Hrm Practices and Employees' Psychological Outcomes: a Study of Shipping Companies in Cyprus Journal article by R. D. Pathak, Pawan S. Budhwar, Virender Singh, Panayiotis Hannas; South Asian Journal of Management, Vol. 12, 2005
How Real Is the Rhetoric? a Survey of American Hr Managers' Views about HRM."
by Mamman, Christopher J. Rees; International Journal of Management, Vol. 21, 2004