TABLE OF CONTENTS INTRODUCTION...............................................................................................................................3 TASK 1.................................................................................................................................................3 P1 Purpose and function of HRM applicable to workforce planning........................................3 P 2 Strengths and weaknesses of different approaches to recruitment and selection.................4 TASK 2.................................................................................................................................................6 P3 Benefits of HRM practices for both employees and employers...........................................6 P4 Effectiveness of HRM practices in relation to increase productivity and profits of firm.....8 TASK 3................................................................................................................................................9 P 5 Importance of employee relation in terms of impact on decision making of HR................9 P 6 Key elements of employment legislation and its impact on decisions making of HRM...10 P 7 Application of human resource practices...........................................................................12 CONCLUSION.................................................................................................................................14 REFERENCES.................................................................................................................................15
INTRODUCTION Human resource management (HRM) is the strategic concept to the effective administration of personal in company, so that they aid firm in gaining competitive advantage. This division is responsibleforoverseeing,implementingpoliciesofemployeebenefits,hiring,training, developmentandperformanceappraisalaswellasrewardingtoworkers.Humanresource management also concern about organizational changes and industrial relations (Ahmed, 2015). This study is based on JP Morgan Firm. It is commercial and investment banking institution. Also, it is predecessor of three of the largest banking organisations in the world. This assignment is also based on Canary Wharf firm. It is commercial estate on Isle of Dogs in London. Also, it is one of the main financial centres of UK. This report will explain purpose and function of HRM which is applicable to workforce planning and resourcing an organization. It will state strengths and weaknesses of different approaches to recruitment and selection. Assignment will examine benefits of various HRM practices for both employees and employers in organization. Furthermore, study will evaluate the effectiveness of HRM practices in relation to raise profits and productivity of organization. It will state various applications of HRM practices in a work related context. TASK 1 P1 Purpose and function of HRM applicable to workforce planning Human Resource Management: Human resource management is the concept of planning of manpower and resources in the organization. It is practice of hiring, deploying and managing employees in the JP Morgan. Human resource division is normally responsible for creating, putting into efforts and overseeing policies governing staff as well as managing relationship with employees in workplace(Caligiuri, 2014). Nature and scope of strategic HRM: Strategic human resource management is the concept that determines different techniques to achieve goals of company through people as well as policies and strategies of human resource (Bailey and et.al., 2018). It is procedure of evolving corporate capacity to deliver new strategies to JP Morgan. It is based on two key ideas such as resource based view and need for strategic fit.The scope of strategic HRM is to analysis and evaluation of external environment and fix the short term annual targets in the workplace. It is concerned with all employees and managers of firm. Purpose of HRM: The purpose of human resource management is to coordinate people to accomplish goals of
company. Another goal of HRM lies in successful utilization of workforce to attain particular objectivesof firm. In this context, workforce planning is the constant procedure utilised to align needs and priorities of JP Morgan. It allows evidence based workforce development strategies in the workplace. Therefore, HR director must ensure that effective planning of workforce and utilization of resources that helps to achieve the purpose of organization. Driving Productivity:Human resource management is the technique to realize competence and drive efficiency in organization work (Bratton and Gold, 2017). Therefore, HR director of JP Morgan is to make sure that effective planning of workforce and resources that will help to achieve purpose in relate to increase productivity of firm. Building Coordination:HRM is responsible for an effective coordination and harmonious practicality within and between various divisions of company. Therefore, HR director make sure that effective planning workforce and utilization of resources that can assist to achieve purpose of HRM in terms of building coordination with other departments of JP Morgan (Bratton and Gold, 2017). Function of HRM: Human resource management is planning of resources, developing skills of workers and motivating them. Therefore, there are various functions of HRM that applicable to workforce planning and resourcing in the firm. Recruitment and Selection:The main function of HRM is to recruit and select the right candidate according job profile in the organization (Caligiuri, 2014). It is the process of recognizing and making potential candidates to apply the jobs. Selection is procedure of choosing the right candidate for vacant position. Through this, HR director of JP Morgan make effort for effective workforce planning and utilization resources in their workplace. By this function, they can improve performance and ensuring workforce in the firm. TrainingandDevelopment:Itisanotherimportantfunctionofhumanresource management.Therefore,HRdirectormakesurethatprovidingtheeffectivetrainingand development for developing skills and planning of workforce in the JP Morgan (Bailey and et.al., 2018). Soft and Hard HRM Approach: HR director follow soft and hard HRM approaches for planning of workforce and resourcing in the workplace. In order to that, employees are treated simply as resources like building and machinery of the firm in hard HRM. The focus of this HRM approach is to recognize needs of workforce, so that HR director can hire, move and fire to workers accordingly in the firm. On other
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side, workers are treated as individuals as the most essential resource of competitive advantage (Deepa, Palaniswamy and Kuppusamy, 2014). Therefore, HR director needs follow soft HRM approach for workforce planning and resourcing in organization. P 2 Strengths and weaknesses of different approaches to recruitment and selection Recruitment: It is basically a procedure of short-listing and appointing suitable candidates for jobs within company. Human resource director adopt this recruitment approach for particular job with carrying out recruitment. There are mainly two approaches such as internal and external recruitment which are used within organization(Ahmed, 2015). It is process of identifying needs of human resource of JP Morgan and taking necessary steps to overcome difficulties that arise due to deficiency of human resource. Internal Recruitment:It is procedure of filling the vacant positions in firm by recruiting workers within business premises. It is approach where existing staff of firm are referred or taken into consideration for particular position. There are some methods involves such as employee referral, promotion, transfer and so on. For example, promotion is internal recruitment. It is action of progress of employee's post in the firm. It is necessary that workers are promoted in particular interval of time on the basis of their performance(Bratton and Gold, 2017). Employee referral is another approach to internal recruitment which means that supervisors who evaluate performance of employees. On the basis of performance review, company hire existing employees for vacant post. Strengths: This method encourages employees to work hard and development within JP Morgan. However, promotion means increase payment and fame, so that it encourages putting more efforts and make quality result. Through internal recruitment, existing workers are already familiar to environment, staff and culture, so that they take less time to adapt to new work (Internal and External Recruitment, 2018). Therefore, they do not need to any kind of training. This approach also saves time and money of HR department. Weakness: This internal recruitment promotes unemployment, because company keeps recruiting workers internally, so that external talents are deprived of working platforms. High level of favouritism has been increased that is unfair practice within the company. There are limited choice for internal recruitment by firm, because there are not getting new
ideas from outside firm(Caligiuri, 2014). There is no new thought can be introduced from outside of company. External Recruitment:It is procedure of filling vacant position of firm through workers excluding the existing ones. New person with required skills and qualifications are registered in the company(Gamage,2014).Therearesomemethodssuchasprivateemploymentagencies, education institutions, advertisement and so on. For instance: advertisement is external recruitment. It is most vital utilised method that firms present positions through electronic and print media such newspapers, internet and so on. Private employment agencies means middleman among prospective workers and firms. These institutions maintain data bank of job vacancies and job seeker which is made perfect match. Strengths: This method ensures the quality of human resource within company by creates pool of eligible candidate(Caligiuri, 2014). This concept help to inflow of new thoughts, abilities and feeling in the organization when workers are recruited externally. It is longer process because finding new talent, conducting interview take too much time. Weakness: This method consuming high time and money within company. There are high chances of wrong selection that directly decrease effectiveness of JP Morgan (Glynn, Arnow-Richman and Sullivan, 2015). Throughit,employeearedemotivated,becauseHRdirectorhirecandidatethrough advertisement. Selection: It is process of selecting the most suitable candidate for vacant positionin the company. There are many stages which are comprised in selection process such as preliminary interview, receivingapplications,employmenttests,interview,referencescheckingandfinalselection. Interview is selection process to anticipate upcoming job performance on the basis of candidates oral response to oral interrogation. Strengths: Interview method allows assessing skills of candidate and way of fit into the firm. Interviews are more objective and reliable as compared to tests.
It believes on quantifiable insight and aid destroys bias. The interview is helpful for determining communication and social skills which is necessary for the job(Ahmed, 2015). Weaknesses: Some tests are been indeterminate which further impacts on outcomes. In the interviews, subjective evaluations are made and decisions tend to create within the first few minutes of interview. TASK 2 P3 Benefits of HRM practices for both employees and employers The practices are set of procedures and activities of human resource management within company. There are various human resources practices such as employment security, selective hiring,self-managedteam,contingentcompensation,extensivetraining,decreaseofstatus differences and sharing information (Hassan, 2016). These practices are more beneficial for both employers and employees within Canary Wharf. Benefits for Employees Human resource management practices are beneficial for employees in different ways in the company such as: Developing Skills:Through extensive training, it is more beneficial in relation to develop abilities and knowledge of employees in the organization (Samnani and Singh, 2014). Therefore, it is most important human resource management practice which is followed by HR director of Canary Wharf. With this, employees works effectively and increase their productivity in the workplace. Increasing Motivation:It is necessary to motivate of employee for effective working in the firm. Therefore, HR director needs to give appropriate and extensive training and development that help to increase motivation of employees within Canary Wharf.They also require providing the appropriate compensation for increase motivations in the company (Hunter and et.al., 2017). Job Satisfaction:It is necessary to make polices and systems regarding compensation, rewards etc. for job satisfactions of employees in the organization. Therefore, HR director of Canary Wharf make sure that make and implement effective policies and procedures of human resource management. Positive Behaviour:The positive working environment is more beneficial for employees in
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the organization. Therefore, HR director make sure that create positive environment through HRM practices that keeping happy and productive workers in the Canary Wharf. In wide sense, human resource management practices strengthen and rewards desired behaviour of employees (Johnson and Szamosi, 2018). Benefits for Employers Employers have realized need for workforce welfare in terms of staying in business and continuous growth. Therefore, these human resource management practices are also beneficial for employers within organization. Decreaseemployeesturnover:Itisneededtoimproveemployeesturnoverinthe organization. Therefore, HR director require recruiting and training of present employees for improving turnover of workers in Canary Wharf. They also need to pay attention of personal needs of workers in organization (Schramm, 2012). Employees turnover involves absenteeism, disputes and so on. Thus, these HRM practices help to improve turnover of employees in the organization. Increaseproductivity:IfHRdirectorgiveeffectivetraininganddevelopment, compensation, so that employees are more committed and involved in their work in relation to increase productivity of Canary Wharf. Therefore, HR director need to make positive environment of workplace, so that employees are worked effectively and happily in the organization. Help to budget control:It is important for human resource to define as various procedures as particular tasks, be it 360 feedback reviews, annual pay review or enlargement of new program. Therefore, HR director of Canary Wharf need to understand the broad budget of project. However, they make sure that effective planning of workforce and resources that help to control of budget within the organization (Kramar, 2014). Competitive Advantage:Extensive training and development, employees motivation and so on that help to competitive advantage of Canary Wharf. For this, it necessary to give many capabilities and behaviour by people and align with HR plans for competitive advantages of firm. P4 Effectiveness of HRM practices in relation to increase productivity and profits of firm There are many human resource management practices such as training and development, motivation, recruitment, employee retention, flexible working options and so on. These practices help to increase productivity and profits of Canary Wharf. Learning, Training and Development:The effective and extensive learning, training and development is the most essential part of human resource practices, because it develops skills and competencies of employees for effective working in the Canary Wharf. They follow different
methods of training and development such as coaching, job rotation, conference etc. With this, workers are developing their abilities and knowledge for effective working in workplace. Therefore, skilled employees help to increase productivity and profitability of company (Marchington and et.al., 2016). Through training and development, employees share responsibility, build relationship and interaction with other workers for effective teamwork in firm. Therefore, this can help to increase productiveness and profitability of firm. Performance Management and Monitoring:It is also the most important practice of human resource management within the organization. Therefore, HR director of Canary Wharf need to ensure that managing and monitoring of performance effectively and efficiently to employees. For that, they adopt different techniques such as rating scale, 360 degree feedback review, paired comparison etc (Samnani and Singh, 2014). With the help of it, employees are worked effectively in relation to increase productivity and profits of firm. Through it, improve execution and increase capabilities for effective working in the organization in terms of raising productiveness and profitability of firm. In order to that, HR director requires setting clear development goals, coaching to each and every worker and give better feedback to employees in the workplace. Flexible Working Options:As HR director, it is necessary to create flexible environment of workplace. It is also needed to find ways of demands which assist environment where employee can expand personally and professionally. There are many examples of flexibility work management at Canary Wharf. Superior and workers have worked together to discover ways to meet business needs while giving greater flexibility than traditional work management.For flexible working, company needs to introduce multiple communication methods, so that employees are exchanged information and ideas easily to employers or supervisors in the workplace (Taylor and Emir, 2015). Therefore, they are increasing productivity and profitability of Canary Wharf. With flexibility, employees are worked happily and productively in the firm. Thus, HR director make sure that creating the flexible culture and environment of workplace, so that employees can easily contribute to raise profits and productivity of the Canary Wharf. TASK 3 P 5 Importance of employee relation in terms of impact on decision making of HR Importance of Employee Relation: Thetermemployeerelationmeanstofirm'seffortstohandlerelationshipbetween supervisor and workers. A good relation with employees gives fair and consistent treatment to all workers, so that they will be attached to their job role and loyal to company.Employer and employees relations is very important to every single person for sharing certain relations with
colleagues at the organization (Townley, 2014). It is essential that workers shares healthy relation with each other at the organization. There are many ways that employee relations are very important in Canary Wharf. Such as: Productivity:Powerful employee relations make grateful surrounding within the workplace. It raises motivations of workers and employees morale.Canary Wharf have organized different programs relating employees relations that enhancing in the productiveness (Samnani and Singh, 2014). Thus, higher productivity leads to raise in profitability of business. Therefore, employee relations is impacted on decisions relating to make pleasant work atmosphere that helpincrease productivity of business. Employees Loyalty:It is necessary for making productive and grateful work atmosphere in the workplace. It has effects on loyalty to worker towards the business and also boosts loyal workforce. The cost of recruitment and training is cut forcefully through having such improving employees retention and loyalty in the Canary Wharf. Employee relation is also important when lower turnover of employees (Vanhala and Ritala, 2016)It ensures that employers has set trained and skilled employees in the workplace. Therefore, HR director must take decisions such as incentives, creating safe environment and employee relations that increase loyalty to employees in the firm. Conflict Reduction:Strong employee relations reduce conflicts within the workplace. Therefore, it is necessary to that work atmosphere is efficient and friendly for reducing conflicts between employees in Canary Wharf. In order to that, employees are able to focus on the tasks at hand that result is fewer conflicts in the workers. Therefore, they are more productive. The happy manpower is the productive workforce through making sound and efficient work atmosphere with good management. Powerful employee and employers relation can be wide important to any business success or failure (Walsh, 2015). Therefore, HR director needs to take decisions relating to create healthy and pleasant work environment in the Canary Wharf. EmployeeIndiscipline:Itisnecessarytoidentifyvariousreasonswhichhappen indiscipline in employees. Reasons involves absenteeism, employee behaviour, slow performance and grievances. Therefore, HR director need to take decisions such as conformity of employees behaviour with managerial expectations and improve standard of performance in the workplace (Vanhala and Ritala, 2016).For increasing discipline, it is important to develop strong relations between employees and employers in the organization. Employee Grievance:It is necessary to give safe environment, fair treatment, proper incentives,participationindecisionsandneedssatisfactionforreducingthegrievancesof employees in the workplace. If the HR director do not meet these expectations of employees, so that
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it occur complaints by workers (Ahmed, 2015). Therefore, human resource must have ensured that take appropriate decisions in terms of proper incentives, fair treatment and so on. Thus, employee relation is most important to reduce grievances of employees. Strategy for improve employee engagement HR director must utilised strategy that is sustained culture of employee learning and development for improving employees engagement in the Canary Wharf. Continuous training and development is an essential way to raise employees engagement and retention in an organization. Through learning and development, employees develop their knowledge and skills for participating in all activity of business (Bratton and Gold, 2017). Therefore, HR director require making culture ofongoinglearninganddevelopmentforenhancecapabilitiesandimproveengagementto employees in the company. This also help to build strong relationship with employee in the firm. P 6 Key elements of employment legislation and its impact on decisions making of HRM Employment legislation in UK defines as contract of service. It is an agreement whereby mutual obligations exist among employers and workers. It is law that regulates employment within organization with everyone who works. This directly affects employer, workers and trade union. The role is to ensure that it determines employed and treatment for offering job during procedure of engagement and minimum terms and conditions under which they can work (Caligiuri, 2014). Employment regulation seems to be perpetually including becoming more controversial due to impact on business and public concern. Therefore, HR director must applied all legislations relating to employment, health and safety, equality etc., because these regulations impact on their decisions within the workplace. Health and Safety Act, 1974:It is an Act of Parliament of UK that determines key structure and government for the assistance, regulation and implementation of well-being, security and welfare in the workplace within UK. The Act determines normal duties on employers, workers, contractors, suppliers and part for utilise at workplace. Health and safety allows wider programs of legislation which has generated large system of particular provisions for different industries, disciplines and risks. This act also impact on decisions of human resource management relating to health, security and welfare, wages and benefits, working conditions etc. to employees in the workplace (Deepa, Palaniswamy and Kuppusamy, 2014). The objective of health and safety act is to protect persons and arising out well-being and security against risk. It is controlling the keeping and utilization of sudden or highly combustible or dangerous portion at the workplace. Thus, employers are responsible for handling the provisions and care of plant and system of work, managing safety and absence of risks to well-being in link with utilise and handling of articles and other material at
the organization. Therefore, HR director make sure that follow this act appropriately which can help to run the business smoothly. Equality Act, 2010:It is Act of Parliament of UK. It has some objectives as four major EU Equal treatment directives whose mirrors and implements of provisions. The key objective of equality act is to systematize complexity and number arrangement of acts which defined the basis of anti-discrimination law in Britain. This act protects persons against discrimination, harassment in employment(Taylor and Emir, 2015).As users of private and public services based on various protected features like age, gender, disability, civil partnership, race, sex etc. Therefore, HR director makes sure that giving equal and fair treatment to employees by following this act properly at the workplace. For example: disability, employers and services providers are under the duty to create reasonable accommodations such as religion, physical, emotional etc. to their workplace to reduce barriers by injured persons (Gamage, 2014). Thus, this act impact on decisions HR director relating to protect rights and provide equal chances and fair treatment to all employees who are worked in the organization. Therefore, HR director must take appropriate decisions such as disability, maternity, sexual harassment, victimization etc. Any lawful decisions help make in running business smoothly by HR director. Single person who take decisions are potentially responsible for taking lawful stages to prevent discriminating, harassing someone in the workplace. P 7 Application of human resource practices There are many applications such as job advertisement, job description, person specification, CV and so on. JOB ADVERTISEMENT The job advertisement is declaration of an open job position. It is written in engaging tone and contains info not only about job position bout also about organization and offer benefits (Deepa, Palaniswamy and Kuppusamy, 2014). The structure of job advertisement which involves job title, job location, duties, job requirements, organization and benefits as well as applying instructions. FINANCIAL TIMES UNIVERSITY COLLEGE LONDON JOB ADVERTISEMENT
Application are invited from the eligible candidate for the following position with attested copies of all academic and technical requirements and one pas port size photograph. The applications must reach office by or before 2 February 2019. PostQualification LecturerM.B.A., M. Com Preferences to experience faculty/NET qualified. Short listed candidates will be called telephonically for interview. Email ID:www.ucl.ac.uk Address: Gower St. Bloomsbury, London, UK PERSON SPECIFICATION It draws the personal attributes desired in potential employees. It is same to job description but more specific. These attributes involve skills, qualification, knowledge and some personal attributes. Therefore, human resource utilise this document as practices in the workplace.
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PERSON SPECIFICATION MICHELIN STAR RESTAURANT Job TitleChef Position Date30-01-2019 Reporting ToCatering Manager QUALIFICATIONEssentialDesirable Hotel Management√ NVQ qualification√ Food Hygiene certificate√ SKILLS AND KNOWLEDGEEssentialDesirable Flair for cooking with fresh quality ingredient √ Good interpersonal skills√ Word, Excel and Outlook to basic level√ Threate restaurant experience√ Knowledge of English and continental cookery √ EXPERIENCEEssentialDesirable Catering in engaged, large scale operational √ Previous kitchen budget control√
Summary: Prepared By: Title:Chef Position CONCLUSION This report has summarised that human resource management is practice for managing the personnel within the company. It can be concluded that various purpose and functions such as training and development, driving productivity that help to effective workforce planning and resourcing in the firm. It can be discussed that internal and external recruitment and interview selection method and its advantages and disadvantage within the firm. Furthermore, report can be explained that HRM practices are more beneficial for employees in relation to develop skills, job satisfaction. Also, for employers in terms of increase productivity, competitive advantage within company(Hassan, 2016).It can be concluded that learning and training, flexible working option and managing performance helps to increase productivity and profits of business. It can be discussed that employee relations is more important to increase loyalty, productiveness and conflicts reduction at the workplace that impact on HRM decisions relating to incentives, wages etc. Moreover, study can be completed that key elements of employment legislation which involved various acts such as Health and safety Act and Equality Act that directly impact on HRM decisions in terms of well-being and security, equal treatment of employees in the workplace. It can be discussed that applications such as job advertisement and person specification use in HRM practices within the firm.
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