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HRM Functions and Practices

The assignment is about the compensation philosophy of Maersk and its impact on employee rewards and incentives.

10 Pages2609 Words49 Views
   

Added on  2022-08-13

HRM Functions and Practices

The assignment is about the compensation philosophy of Maersk and its impact on employee rewards and incentives.

   Added on 2022-08-13

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HRM: FINAL REVIEW
Title: HR Final Review
Name of Student:
Name of University:
Author Note:
HRM Functions and Practices_1
1HRM: FINAL REVIEW
HRM Functions and Practices:
The term human resource management is widely used to denote the management of the
human capital within an organization who are the chief contributors for the success of the
business. The human resource practices and functions are those policies and the functioning area
adopted by the management of the company, that ensures the attraction and retention of the
employees and operate within the boundaries and the state federal laws. The human resource
department is responsible for ensuring the fact that the human assets of the company is
effectively aligned with the organizational strategy so that the functioning of these human
resources directly and positively impacts the growth of the company. The major elements of the
functions and practices of the human resource management, starting from the hiring of the
employees , selecting the compensation or designing the training programs, the HR management
must focus on the strategic vision of the company (Rajnoha & Lesníková, 2016).
The HR department must keep in consideration the requirement of the organization based
on the strategies and accordingly they will chalk out the man specification and select human
resource who has that particular skills and attitudes to cope up with the strategy of the
organization. In the training and development as well, the organisation should enlist and accept
representatives who are a solid match for the occupations (Cristiani, & Peiró, 2015). The HR
function will thus aim into achieving the proficiency and supervising the profit of the
organization at the same time. The HR management needs to assess the needs of training and
make the employees suitable to meet the vision of the organization. If the HR department is not
aware of the long term strategic visions of the company, they cannot effectively recruit or train
the human resource.
HRM Functions and Practices_2
2HRM: FINAL REVIEW
Staffing
An organization requires people with the right skills ability and knowledge to fit into the
structure. Staffing is one of the major functions of the human resource management that is
devoted in the acquisition, training, appraising and the compensation process within the
organization. It is an umbrella term that is generally used to cover all the practices starting from
recruiting, on boarding, training and developing and finally positioning the workers within the
organization in a manner that the organization is effectively and efficiently filled up with a
productive workforce. Recruitment is the process of “attracting candidates to fill the position in
the organization structure (Hsu & Leat, 2012). Thus for the on setting of the recruitment process
it is essential that the positions needed to be filled up has been clearly identified. Thus
recruitment must be based on the organizational goals and necessities. Keeping the fact in
consideration the recruitment process starts by a proper description of the man and job
specifications. According to Dunn and Stephens, recruitment method can be categorized as
follows 1. Direct method, 2. Indirect method and 3. The third party method. While in the direct
method the recruitment process includes the travelling of the organizational representative to the
professional institutions and employees are contacted. Indirect method includes advertising in
newspaper, radio, brochures etc (.Noe, Hollenbeck, Gerhart & Wright,2015) Third party method
includes contracting with the private commercial agencies, placement officers for the
recruitment. All the above mentioned methods are the external source of recruitments, the other
external sources being recruitment through recommendation, recruitment through employment
exchange etc. The internal sources refers to the sources from within the organization gained
through transfer, promotion layott, VRS etc (Gatewood, Field & Barrick, 2015). It has been
researched that organization that needs to save money or needs an immediate succession in a
HRM Functions and Practices_3

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