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Hard and Soft Human Resource Management

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Added on  2021-01-02

Hard and Soft Human Resource Management

   Added on 2021-01-02

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Hard and Soft Human Resource Management_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Purpose and functions of human resource management...................................................1Hard and Soft HRM................................................................................................................2P2 Strength and weaknesses of various recruitment and selection process...........................3CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7TASK 2............................................................................................................................................8P3 Benefits of HRM practices for employer and employee...................................................8P4 Effectiveness of different HRM practices in raising organisational profit and productivity..............................................................................................................................................10REFERENCES..............................................................................................................................12TASK 3..........................................................................................................................................13P5 Importance of employee relations in respect to influencing HRM decision-making.....13P6 Key elements of employment legislation and its impact on HRM decision-making......14REFERENCES..............................................................................................................................15TASK 4..........................................................................................................................................16P7 Application of HRM practices in a work-related context...............................................16CONCLUSION..............................................................................................................................18REFERENCES..............................................................................................................................19
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INTRODUCTIONHuman resource management is strategic approach which consists essential role inorganisation to have sufficient manpower for execution of business operations effectively. Forthis, recruitment, selection, performance assessment, compensation, training and developmentare various activities which are conducted by HR. Subordinates are given duties in according totheir skills and knowledge to make them perform tasks and complete targets and objectiveswithin defined time (Human resource management, 2016). Present report is based on JP Morganwhich is multinational bank and has headquarter in United Kingdom. Company providesfinancial and banking services to people for enhancing state of nations. This assignment specifiespurpose and functions of HRM to have skilled and competent people in bank. HRM practicesbenefits both employer and subordinates to enhance organisation productivity and profitability. Itis necessary that employment legislation and employee relations are acknowledged bymanagement to make appropriate decisions which are beneficial for bank. Thus, administration isable to timely accomplish business goals and objectives. TASK 1P1 Purpose and functions of human resource managementHRM refers to managers responsibility to frame organisation structure and have adequatemanpower in firm. For this, they conduct workforce planning which is to recruit best individualand provide them duties in according to their abilities. Along with this, training and developmentactivities are executed by human resource to have skilled and competent people which providequality products and services to people. Strategic HRM: This is practice which is conducted by management to enhancefunctionality of organisation. For this, HRM is coordinated with strategic objectives and goals todirect staff members to perform tasks effectively. Along this, they even provide appropriateorganisation culture to foster flexibility and innovation in business (Decker, Riley and Siemer,2012). Hard and Soft HRMHard HRM: This aspect specifies that employees are treated by management as resourcejust like machinery, building and other assets. Top personnel focus is to achieve objectives andgoals of organisation to enhance its position and share in market. Management follows autocratic1
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style which define that employees are not involved in decision-making process, as they didn'tvalue them and their knowledge. This situation mainly occurs in large companies in whichadministration can't involve workers in meeting which will consumes large time. Besides this, asin context of JP Morgan hard HRM tactic rise when customer's demands increases andmanagement make judgements and inform staff to save both time and money (Hobfoll, 2011). Soft HRM: This is another tactic which define that management gives value tosubordinates and consider them as important resource. Human resource motivate employees byproviding them rewards and delegate them responsibilities with aim of long term workforceplanning. This helps JP Morgan to have talented staff which position it superior thancompetitors. Besides this, bank have skilled staff which construct and maintain relations withcustomers to sustain them for longer time. Thus, management is able to establish competitiveadvantage in respect to their rival banks to attract people easily. P2 Strength and weaknesses of various recruitment and selection processHuman resource conduct staffing process to have adequate workforce for execution ofbusiness operations to achieve business goals and objectives. For this, recruitment and selectionare two activities which are executed by management of JP Morgan to fill vacant position. Thus,bank have skilled and competent people which provide appropriate financial and bankingservices to customers. Recruitment: This is process of hiring individual in firm in respect to businessrequirements. For this, management of JP Morgan have two sources which are internal andexternal to utilise present workforce or new candidates (Albrecht and et. al., 2015). Thus, thisactivities have different tools which are selected by HR in respect to availability of subordinatesin bank which are described below: 2
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