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The role of HRM in organisational decision making

   

Added on  2020-10-23

17 Pages5378 Words269 Views
Human resource andmanagement

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1- Functions and purpose of HRM:......................................................................................3P2- Strength and weakness of different approaches to recruitment and selection.................5P3- Benefits of HRM practices for employer and employee.................................................7TASK 2 .........................................................................................................................................9P.4 The effectiveness of different HRM practices in terms of raising organisational profit &productivity.............................................................................................................................9TASK 3 .........................................................................................................................................11P.5 The importance of employee relation in respect to influencing the HRM decision-making...............................................................................................................................................11P.6 The key elements of employee legislation and the impact on HR decision-making.....12TASK4...........................................................................................................................................14P.7 Application of HRM practices in work related context.................................................14CONCLUSION..............................................................................................................................16REFRENCES ................................................................................................................................17

INTRODUCTIONHuman resources management is a process of hiring, deploying, recruiting and managingthe employees of the organisation. HRM manages the employees as they are treated assets forthe company as they are the human capital. If the employee are used effectively then it reducethe risk and the return on investment will be increased (Human Resources and Management.2019). The company is JP Morgan, it’s an American banking corporation and have the largepresence in the UK. They work in financial instruments like investment banking, wealthmanagement, securities, etc. In this report the purpose and functions of HRM is covered alongwith the effectiveness of the HRM as well as the approaches of recruitment and selection. Thebenefits of HRM which help the organisation to make effective decisions and the importance ofHRM while making decisions. The internal and external factors effects the decision-making andthe human resources of the organisation.TASK 1P1- Functions and purpose of HRM:Human Resource Management is a function of an organisation which indulge in theactivities which deals with the people of the organisation effectively during the several stages oftheir employment cycle (Bakker and Demerouti, 2014). The activities involved are hiringpeople, motivating them and managing them in the organisation. HR officials at J.P Morganconcentrates at internal sources of competitive advantage. They regard their employees as theasset to the organisation. The functions and purposes of HRM in J.P Morgan firm are as follows:The main purpose of HRM is to organize people of an organisation to accomplish thespecific goal with efficiency. The purpose are:-Helps in fulfilling job vacancies and finding the right person for the suitable job.Maintaining employee satisfaction, they are rewarded for the jobs performed by them ina effective manner.Safety and security of the employees is ensured.To maintain healthy relations in the organisation to avoid conflicts between theemployees.

Roles and responsibilities:HR officials of J.P Morgan plays many roles and responsibilities in the organisation forthe overall development of its employees.Training:- They provide proper training to their employees. Which helps them tounderstand the working patterns and the new culture of the organisation (Bringezu andBleischwitz, 2017)). If proper training is provided, then employees don't face anyproblem while doing the work. Recruitment:- The role involves a strategic campaign a proper guidelines for theappropriate recruitment category. In this employees are recruited according to the jobprofile requirement in the company through the sources by which the manager wants torecruit whether internal or external. Appraisal:- HR team monitors the work of the employees and they are awarded on thebasis of outstanding performances to keep them motivated. By which, the employees ofthe organisation are able to achieve the goals effectively as well as the efficiently.Functions of HRM:HRM is important for appropriate utilization of resources in the company and effectiveuse of the human resource in the organisation. HR officials of J.P Morgan performs variousfunctions which are discussed below:Managerial functions:-Planning:- It is a planned course of human activity, in which HR officials set goals andobjectives for the organisation as planning is future oriented.Organising:- This includes assigning of each subordinate with specific task, delegatesthe authority to subordinates, establishes channel of communication and coordinates thework.Staffing:- In this the HR officials have to decide which type of people will be hired,recruiting perspective employees, selecting employees, setting performance standards,and providing suitable training.Operative functions:-

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