Analysis and Findings on Human Resource Management and Talent Development at Marks & Spencer
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This chapter discusses the role of HRM in talent resource and development at Marks & Spencer, including strategies adopted by the company. It also covers the basic concepts of HRM and its importance in an organization.
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Analysis and Findings
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Table of Contents Chapter 4: Analysis and Findings....................................................................................................3 Discussion........................................................................................................................................3 References........................................................................................................................................8
Chapter 4: Analysis and Findings Discussion Theme 1: The basic concepts of human resource management and its role within an organisation It can be summarised that human resource management is an approach through which the company is able to manage its main asset that the workforce. This management is considered essential as it allows the company to hire and manage people in order to attain the objective of the company (Stone, Cox and Gavin, 2020). As it is essential to bring right kind of people at the job and along with it happy employees seem to be more productive. In any company the preference is given to happy and passionate employees as they are considered to be best kind of people. HRM plays an essential role in linking all the functions of the human resource. It also supports in building better culture at the company and along with it, motivation of employees is must to perform in the company and to attain the desired goals of the company. As the market is changing at a high speed because the technology is updating constantly. Human resource management helps in maintaining good bonds in order to ensure about continuity of the business. Human resource management is known to maintain the efficient employees at the work. IT comprises of wide range of various activities such as motivating, training, hiring, promoting and firing the employees (Macke and Genari, 2019). It also enables the business to create a pool of deserving people for long term in the company. It is known to play an efficient role in the retaining various employees for the purpose of maintaining the level of productivity and profitability at the company. Furthermore, it also supports in monitoring the allocation of various resources. So, it makes sure that they are full utilized with minimum wastage in order to appoint right person with right job which leads to improve the level of effectiveness in an organization. HRM is known to build up better coordination in between the employer and employees by considering the various ideas and suggestions in the different tasks and policy making. It is one of the crucial functions in the company as it has the power to impact all the functions of the business. From operations, production marketing and sales in the company. It comprises of large scope as it is linked with the career growth and that is why it sets the realistic and attainable goals. In order to attract more opportunities in the company and the chosen company will be able to collect the data easily. Such data collection will support in taking best decisions into the future
(Bratton and et.al., 2021). So, it can be summarised that with the help of proper HRM strategy the company and its department can perform better in the market. As it is must to keep up with the trends of the market in order to keep the customers satisfied. That is why it is correct to say it is universal in nature and it takes place in every part of the company. It is interlinked with the strategic decision-making process of the company. HRM is known to be targeted on the decisions instead of record keeping or writing rules. The primary resource that is crucial to any organization's ability to achieve its objectives is its workforce. The business will be able to maintain the customers' engagement with the organisation with the aid of a strong team and workforce. It may be said that when employees receive perks, they will contribute more to the business' operations. As a result, employees can receive better support, which will enhance their performance (Hasanzade and et.al., 2019). Theme 2: The role of human resource management in talent resource and development within Marks & Spencer From the information it can be understood that the practise of recruiting, employing, deploying, and managing personnel inside an organisation is human resource management. It is a crucial idea that serves as a strategic method by which a corporation can raise employee productivity and organisational performance levels in the market (Stewart and Brown, 2019). Along with it, managing a company's most precious asset, its workforce, is essentially what human resource management is all about. Human resources encompass a variety of functions, including pay and benefits for employees, talent management, compliance training, and advancement in workplace safety. In order to give clients, the highest level of satisfaction, a business must meet the needs and demands of its employees. Additionally, human resource management is essential to an organisation because it enables it to perform tasks and projects with the greatest efficiency possible, hence increasing its productivity overall. Whatever the size and scope of a firm, human resource management is a critical component. In many firms, HRM plays a significant role in the development of talent resources (Stahl and et.al., 2020). In this situation, human resource management is essential to carrying out successful hiring, performance management, career management, and organisational leadership development. By analysing employee performance and further providing them with appropriate training, Marks and Spencer is managing its talent resource and fostering development with the use of an effective human resource management system. It effectively aids organisations in improving worker productivity, skill, and knowledge
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while assisting businesses in ensuring higher industry growth. Organizations must consider human resource management as it enables them to effectively manage their staff. When it comes to managing personnel resources and development the chosen company uses a variety of tactics. This company benefits from a high-performance culture that is inspired by a solid leadership structure (Adla, Gallego-Roquelaure and Calamel, 2019). Additionally, this business is utilising talent management techniques, giving training to employees with the aid of various tools and activities. Organizations are also making use of feedback systems, which facilitate effective personnel management and development assistance. When employees believe their contributions are important to the company's objectives and future. They are then more likely to be content and productive across the board for the business. Because of this, leadership that is open and direct is recognised to result in significant changes and increased economic performance. In order to sustain higher productivity and performance inside the organisation, the relevant company has adopted a training programme for its personnel (Zhang and et.al., 2021). Additionally, they have the choice to submit feedback in order to help the business make more changes. In the competitive business environment of today, it can be said that every leader focuses on the company's objectives with the intention of achieving them. Additionally, it can also be said that a competent leader prioritises the best possible use of people resources in order to accomplish their objectives. Additionally, it appears that company conditions are changing more quickly, which is why client expectations are also rising. The primary goal of the selected business is to satisfy customer needs and maintain the organisation in the market for an extended period of time by maximising staff potential. Work-life balance, organisational dedication, and job satisfaction are all related since they all aid in producing higher-quality results and enhancing employee performance. The dynamic and competitive character of the business world makes it more difficult for businesses to operate effectively. Job satisfaction is a crucial element in a company that contributes to workers' increased confidence and commitment to doing their jobs well. Employees are a crucial component of every business organisation since they aid in reaching the predetermined goals and objectives in today's cutthroat business environment. In order for employees to feel motivated and content in completing the tasks assigned to them by the company in an efficient manner, it is the duty of the business organisation to maintain a healthy work-lifebalance(Úbeda-Garcíaandet.al.,2021).Maintainingahealthyworkplacefor
employees is crucial for business managers to ensure that they are motivated to achieve the goals in a successful manner. Theme 3: Strategies adopted by Marks & Spencer in terms of talent resource and development The company's aims will also have a significant influence by making its goals more attainable and obvious. All businesses must have long-term planning in place if they want to create a safe and productive work environment. For instance, it is necessary to maintain them prominently visible in order to make the company's goals more evident to all personnel. Additionally, to continue having open and appropriate discussions about them so that each person is aware of their role within the organisation. When employees feel invested in the company's objectives and future, it is evident (Adikaram, Naotunna and Priyankara, 2021). Due to the fact that the chosen organisation uses a variety of strategies in regard to its human resource and development process. All such strategies are presented below- To make thecompany's goals more attainablefor the staff so that greater talent can be kept, all of these tacticsare described below. The staff will be ableto perform successfully when the targets are clear, thus it can be done by outlining the goals clearly. Additionally, it is clear that when employees are rewarded based on their performance, this results in natural performance. The right kind ofrecognition and compensation must be given to the staff members in order to inspire them to do well for the business. Consequently, it will be simpler to achieve success in the company's operations. The business must also implement the necessary leadership development and training. Additionally, it is considered that agood leader prioritisesthe best possible use of people resources in order to accomplish their objectives. Additionally, it appears that company conditions are changing more quickly, which is why client expectations are also rising. The primary goal of the selected business is to satisfy customer needs and maintain the organisation in the market for an extended period of time by maximising staff potential. The specific organisation embracediversitybecause it is regarded as the key component in controlling the development of talent resources. This will enable the organisation to maintain a positive work environment and retain its top personnel. It is well known that having a diverse workplace has several advantages and chances for the business. Such businesses value innovation and innovative thinking.
In order to sustain higher productivity and performance inside the organisation, the relevant company has adopted atraining programme for its personnel. Additionally, they have the choice tosubmit feedbackin order to help the business make more changes. In the competitive business environment of today, it can be claimed that every leader sets the company's goals with the intention of achieving them. Another strategy employed by the selected organisation is to offer prospects forcareer advancement.Employees in any organisation must be provided equal opportunities to develop new skills. Additionally, the chosen organisation offers its staff a variety of training programmes to help them develop soft skills and open up new career prospects. The chosen organisation always assures that agood working environmentis provided, protecting the mental health of the employee. It is evident that the majority of workers have mental health issues at work. Because of this, they frequently result in leave, which has a negative effect on the firm and its operations. Flexible workingis one of the primary employee perks offered by the selected company, which helps in attracting top talent from around the world. As a result, the employees work-life balance will improve which is important for their jobs. Additionally, employees now have more time to spend with their families and engage in other activities. The organisation also offers its employees flexible scheduling options, which is the primary factor influencing the workers' performance.
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References Books and Journals Stone, R.J., Cox, A. and Gavin, M., 2020.Human resource management. John Wiley & Sons. Macke, J. and Genari, D., 2019. Systematic literature review on sustainable human resource management.Journal of cleaner production,208, pp.806-815. Bratton, J., Gold, J., Bratton, A. and Steele, L., 2021.Human resource management. Bloomsbury Publishing. Hasanzade, H., Mirsepasi, N., Faghihi, A. and Najafbagy, R., 2019. Designing a framework for Entrepreneur-oriented Human Resource Management in the Public Sector.Public Administration Perspaective,10(2), pp.159-185. Stewart, G.L. and Brown, K.G., 2019.Human resource management. John Wiley & Sons. Stahl, G.K., Brewster, C.J., Collings, D.G. and Hajro, A., 2020. Enhancing the role of human resource management in corporate sustainability and social responsibility: A multi-stakeholder, multidimensional approach to HRM.Human Resource Management Review,30(3), p.100708. Adla, L., Gallego-Roquelaure, V. and Calamel, L., 2019. Human resource management and innovation in SMEs.Personnel Review,49(8), pp.1519-1535. Zhang, Y., Xu, S., Zhang, L. and Yang, M., 2021. Big data and human resource management research: An integrative review and new directions for future research.Journal of Business Research,133, pp.34-50. Úbeda-García, M., Claver-Cortés, E., Marco-Lajara, B. and Zaragoza-Sáez, P., 2021. Corporate social responsibility and firm performance in the hotel industry. The mediating role of green human resource management and environmental outcomes.Journal of Business Research,123, pp.57-69. Adikaram, A.S., Naotunna, N.P.G.S.I. and Priyankara, H.P.R., 2021. Battling COVID-19 with human resource management bundling.Employee Relations: The International Journal.