HRM 1 Contents Introduction......................................................................................................................................2 The role of HR matrix......................................................................................................................2 Issues and challenges which the HR faces......................................................................................2 How to resolve those HR issues and challenges..............................................................................3 HRM theory and practices...............................................................................................................3 Conclusion and recommendation for change..................................................................................4 References........................................................................................................................................5
HRM 2 Introduction The report is based in HRM whose major purpose in any organization is to recruit the employees,providetrainingtothem,givethedesignationofworkandalsoprovide compensation and benefits. The productivity of the organization can be enhanced by selecting an effective employee so the main purpose of the HRM is to recruit the right person for the right job.ThereareseveralobjectivesofHRMsuchasfunctional,personal,societaland organizational. The major objectives are to choose the willing and competent workforce and ensure their availability in the organization. In this report, the role of the HR matrix and how the issues and the challenges of HR will be resolved will be stated(Bamberger, et al., 2014). The role of HR matrix It is a measurement tool that is used to evaluate the effectiveness and value of the HR initiatives and includes several things such as training, turnover of the employees, cost of the labor and expenses per employee, return on human capital, etc. Several other HR metrics are important such as overtime percentage, Absenteeism, profit per employee, revenue per employee, etc. (Mitchell, et al., 2013).The role of the HR matrix is to determine how human capital can be utilized in the organization so that the goal of the organization can be reached. HR matrix also playsaroleinaddressinghowefficienttheHRpracticesareandtheirimpactonthe organization. HR matrix has several roles such as they have to evaluate the time to hire between the openings up position to the signing the candidate for the job contract. The role of the HR matrix is also to evaluate that by hiring the new employees how much cost the company is paying for per hire. HR matric also evaluates why the top employees leave the company and time since the last promotion, the revenues brought into the company shows the amount for per employee. The role of the HR matrix is also to evaluate the cost of HR per employee and tracks the company's attrition rate(Noe, et al., 2015).
HRM 3 Issues and challenges which the HR faces While recruiting and selecting the employees there were several challenges which the HR faces in the company such as they have to comply with the laws and regulations of the company and teach those rules and regulations to the new employees also. They have to provide effective training and development to the employees so the issues arise that they need the proper trainer otherwise the challenges have to be faced in the working of the employees. It also requires time and cost which is the major issue. HR has to provide compensation so it becomes quite challenging for HR to give them certain benefits and compensation as per their working(Huo, et al., 2015).The major challenges which the HR faces are the retention of the employees in the company as there were many job opportunities in the market which is offering high salary so employees switch to other companies. The strategic issues are also faced by HR and also face the challenges of the motivation and leadership development in the company. How to resolve those HR issues and challenges HR issues and challenges can be resolved by providing them an effective environment of working and flexibility at the working place. The employees are retained in the company when they are being promoted and get hire hike in the company. So the employees who are great at work should be promoted and apprised by HR so the issues of retention of the employees can be declined(Ellinger and Kim, 2014).The strategic issues can be resolved by compliance with the regulatoryrequirementsandbyfollowingthefederallaborlawsinthecompany.The management change is the basic issue so it can resolve by HR through communicating the benefits of change to everyone. The HR can resolve the issue of training by recruiting the senior managers to monitor the employees so that effective training can be provided and costing can also be saved(Ozolina-Ozola, 2014). HRM theory and practices The major outcomes of the HRM theory and practices are that they motivate the employees and provideeffectivetrainingandperformance.Thefunctionalactivitiesofhumanresource management are studied through the theory and practices of the HRM. As per the theory of the HRM, the growth, productivity, and development of the company enhanced when people desire to be a part of the supportive team(Andreassi, et al., 2014).
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
HRM 4 The resource-based theory is the theory of the HRM which explains the success of the firm regarding the features of the industrial sector. As per this theory, HRM should provide effective training and performance to the employees so that competitive advantage can be gained. The employees in the company should be valuable as they are unchallengeable and rare resources. As per this theory, the company can lead to higher growth when the HR practitioner mainly focuses on the valuable employees so that the capabilities of the firm can be developed and superior performance can be leading(Kramar, 2014). Conclusion and recommendation for change From the above report, it is evaluated that HRM plays an essential role in the company as its main function is to recruit and select the best employees for the company. Their purpose in the company is to choose the willing and competent workforce and ensure their availability in the organization. In this report, the role of the HR metric is stated and from that, it is evaluated that it is used to determine the effectiveness and value of the HR initiatives. There were several issues that HR faced such as training, motivation compensation so how it can resolve is also stated above. The resource-based theory is the HRM theory which helps in focuses on the valuable employees so that the capabilities of the firm can be developed. It is recommended that the HRM theory has to be used by HR so that effective services can be provided by them.
HRM 5 References Andreassi, J.K., Lawter, L., Brockerhoff, M. and Rutigliano, P.J., 2014. Cultural impact of human resource practices on job satisfaction.Cross cultural management. Bamberger, P.A., Biron, M. and Meshoulam, I., 2014.Human resource strategy: Formulation, implementation, and impact. Routledge. Ellinger, A.D. and Kim, S., 2014. Coaching and human resource development: Examining relevant theories, coaching genres, and scales to advance research and practice.Advances in Developing Human Resources,16(2), pp.127-138. Huo, B., Han, Z., Chen, H. and Zhao, X., 2015. The effect of high-involvement human resource managementpracticesonsupplychainintegration.InternationalJournalofPhysical Distribution & Logistics Management. Kramar, R., 2014. Beyond strategic human resource management: is sustainable human resource managementthenextapproach?.TheInternationalJournalofHumanResource Management,25(8), pp.1069-1089. Mitchell,R.,Obeidat,S.andBray,M.,2013.Theeffectofstrategichumanresource management on organizational performance: The mediating role of high‐performance human resource practices.Human Resource Management,52(6), pp.899-921. Noe,R.A.,Hollenbeck,J.R.,Gerhart,B.andWright,P.M.,2015.Humanresource management.Gaining a Competitive. Ozolina-Ozola, I., 2014. The impact of human resource management practices on employee turnover.Procedia-Social and Behavioral Sciences,156(11), pp.223-226.