Functions and Purpose of Human Resource Management with LV Company

HRM

Table of Contents
INTRODUCTION...........................................................................................................................1
ACTIVITY 1....................................................................................................................................1
Functions and purpose of Human resource management with LV company.............................1
HRM functions relate to work force planning and resourcing within LV and its importance to
firm..............................................................................................................................................2
Weakness and strength of LV's approaches to selection and recruitment..................................3
ACTICITY 2....................................................................................................................................4
Person Specification....................................................................................................................4
CV Review..................................................................................................................................6
Competence based interview Question.......................................................................................7
Rationale.....................................................................................................................................7
ACTICITY 3....................................................................................................................................8
Learning and development opportunities....................................................................................8
Rewards and Benefits..................................................................................................................9
ACTIVITY 4..................................................................................................................................10
Employee Relation....................................................................................................................10
Employee Relation impact of Decision making on HRM decision..........................................11
Different employment policy impact on the HRM Decision....................................................11
CONCLUSISON............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
HRM, Human resources management is the strategic approach in the organization which
looks at effective management of the human resource in the organization. Recruitment, selection
and retain employee in the organization for longer period in the organization. LV= is the UK's
largest friendly society, which is owned by its members. LV= was founded in the year 1843.
LV= used to provide variety of different type of financial services to their client that is
insurance, life insurance, pensions and investment products, with over 5.8 million customers.
This report highlights the understanding of HRM and different function of the same in the
organization. After that the report goes on to highlights the Person specification for the job role
and review of Different CV regarding job role in the organization (Vu and Ozdemir, 2018).
After that the report highlights the different learning and development opportunity which is
provided to the employee and also rewards and benefit structure of selected organization. In the
end the report highlights understanding of employee relation and different impact which is
brought same on HRM decision. Also, highlights the impact brought by different legislation
policy on the decision-making of HRM in the organization.
ACTIVITY 1
Functions and purpose of Human resource management with LV company
HRM is the process of planning, selecting, hiring, inducting workers, deciding
compensation and motivating people at work place. It is also considered as procedure of making
effective and efficient use of human resource so that set goals will be achieved.
Liverpool Victoria is one of the UK biggest insurance firms with over 5 million
consumers. It provides range of retirement and insurance goods, the mission of LV is to cater the
best services to residential people. With over 5,500 workers, firm offer its services to number of
customers. As a most important department in LV, HRM handle all aspects of staff and has
different functions (Ferrannini, Mark and Mayoux, 2016).
Human resource planning-
It is predetermined course of practice, planning is the process of identifying LV goals
and formulation of programmes & policies for achieving them. It is future oriented concerned

with clearly charting out desirable direction of firm activities in the future. Forecasting is the
most essential elements in planning function.
Recruitment-
It covers under operative functions of HRM, hiring is the procedure which bring pool of
talented applicants who can help LV to provide their financial and other services to consumers
and allow managements to choose right people from give pool. Human resource management
used online recruitment method.
Directing-
It includes activating 5,500 people in LV working in 14 different locations across the
United Kingdom and making them contribute maximum towards organizational goal (Hassan,
2016).
Training-
Training and development is operative function of HRM, it will permit existing as well
as new workers to obtain new skills to perform their job efficiently. Human resource department
consider the requirement of training and make plan accordingly.
Purpose of HRM-
The aim of Human resource department mission is to increase productivity of existing
work force by optimizing their effectiveness, that helps to maximize profit margin rather than
before. It is the coordination of LV's people to achieve specific business goal and set of
objectives, maintain workers satisfaction and fulfilling staffing needs. In additional to this, HRM
purpose is to prevent firm from workplace issues and increase its performance by investing in
right applicants.
HRM functions relate to work force planning and resourcing within LV and its importance to
firm
Planning is the main function of human resource management within LV, it relates to
workforce planning which is very important for firm as whole. HR manager analyse and
determine the current as well as future needs of company for skilled people. It identifies
competencies LV needs to acquire appropriate candidates. In order to increase productivity of
business and improve their performance within marketplace, with planning function HRM
determine needs of people who are able to achieve organizational objectives (Specification,