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Concept of Human Resource Management: Doc

   

Added on  2021-01-01

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HUMAN RESOURCEMANAGEMENT

Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1............................................................................................................................................3P1 Purpose and Function of Human Resource Management......................................................3P2 Different approaches to recruitment and selection and its strength and weakness ...............4TASK 2............................................................................................................................................6P3 Advantage of different practices of Human Resource Management.....................................6P4 Effectiveness of different HRM practices in context of raising company productivity andprofit ...........................................................................................................................................8TASK 3............................................................................................................................................9P5 Importance of employee relation ..........................................................................................9P6 Key elements of employee legislation .................................................................................9TASK 4..........................................................................................................................................10P7 Illustration of different HRM practices ...............................................................................10CONCLUSION .............................................................................................................................11REFERENCES ...............................................................................................................................1

INTRODUCTION In any organization, the concept of Human Resource Management plays crucial role ineach and every organization. It contributes in improving profitability and execution of employeesand leads firm towards development and achievement (Armstrong and Taylor., 2014). The primeobligation of every HR manager is to decide needs of worker and select most suitable andcapable work force in association that can achieve targets and meet destinations of businesswithin its time period. The selected organization for given report is HSBC which is a leadingChina based multinational company that specialize in providing financial services to vastnumber of customer. The report is based on how selected company is gaining high competitiveadvantage because of its HHRM practices. It include roles and function of human resourcemanagement, different approaches to recruitment and selection along with its strength andweakness, benefits of different HRM practices, key elements of employee legislation andeffectiveness of various HRM practices. TASK 1P1 Purpose and Function of Human Resource ManagementHuman Resource Management is a procedure identified with recruitment and selection oftalented candidate, giving orientation and induction, managing healthy relation, compensationand benefit, welfare, motivating, health and safety etc. It helps with achieving set goals andfocuses of the firm and leads it towards development and achievement. It guarantees procuringof skilled candidates that helps with addressing client needs in an effectual manner. Purpose of HRM: The primary purpose of Human Resource Management is to employ correct individual for rightposition in opportune time. For this, it is essential for manager to forecast needs related withmanpower and fulfil them accordingly by hiring competent and skilled person. Manager of HRdepartment define diverse techniques keeping in mind the end goal to construct responsibility ofspecialists towards firm. They help with building limit of association by defining objectives. Functions of HRM: Recruitment and Selection: With skilled and knowledgable candidate, productivity &profitability of any company significantly increases (Berman and et. al., 2012). The mainfunction of HR department is to enroll and select potential employees that leads the businesstowards achieving pre-defined goal and objectives in a significant manner. It is the primary duty

of HR administrator of HSBC Bank to envision the staff needs and higher right number ofworkers for vacant position. They welcome substantial pool of candidates and select the mostreasonable possibility for work from that. Training and Development: It is fundamental for each association to provide adequate trainingand development to its workforce with a specific end goal to build up their aptitudes andcapacities (Boella and Goss-Turner, 2013). The chief of HSBC Bank conduct various trainingand development program that help in improving their overall efficiency and productivity.Managers are require to distinguish preparing necessities of representatives with a specific endgoal to control them proper discovering that helps with expanding their execution. Compensation and Benefits: HR manager of HSBC Bank create compensation plan for itsemployees according to the enactments that helps with empowering moral practices at workenvironment. This leads to motivate and inspire workers to perform in better manner. By givinggreat advantages and pay to workforce, manager of respective firm can enhance the execution offirm. P2 Different approaches to recruitment and selection and its strength and weakness Recruitment means searching for a prospective candidate and stimulate them to apply for vacantjob opening in the company. It refers to the process of finding most talented and suitablecandidate for the company. It is a positive process that is mainly used by company to seize theattention of customer so that they can apply for given job opening in the company. Selectionmeans choosing most suitable candidate from the pool of applicants. It is very crucial process asit revolve around selecting the most talented and competent individual for company who withtheir skill, efficiency and knowledge achieve organizational goals and objectives in an effectivemanner. These two strategies are critical in the association. Through this exercises andundertakings run productively and adequately (Boselie, 2010). It helps in expanding theefficiency of the firm. Association utilizes different methodologies for recruitment and selection.However, there are two main approaches of recruitment and selection namely Internal andExternal. Internal source of recruitment– When Company enlists the workers from inside the firm it issaid as internal recruitment. They don't enlist individuals from the outside source. It builds theinspiration and enthusiasm of existing workers. Strengths Weakness

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