Human Resource Management: Purpose, Function, and Benefits

Human
Resource
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Explain the purpose and the function of HRM applicable in planning and managing
resources......................................................................................................................................1
P2 Explain the strengths and weakness of different approach in recruitment and selection......2
TASK 2............................................................................................................................................4
P3 Describe the benefits and of HRM within organisation.........................................................4
P4 Evaluate the effectiveness of HRM practises in terms of profit and productivity.................5
TASK 3............................................................................................................................................6
P5 Analyse the employee relations in respect to the influencing the HRM decision making....6
P6 Identify the key of elements of employment legislation and the impact on decision making
process.........................................................................................................................................7
TASK4.............................................................................................................................................8
P7 Illustrate the practises of HRM in organisation.....................................................................8
Conclusion.....................................................................................................................................10
.......................................................................................................................................................10
References .....................................................................................................................................12
Books and Journals.......................................................................................................................12

INTRODUCTION
Human resource management is procedure of controlling and managing employees in a
well defined manner. There are various function HR department such as recruiting, hiring, and
deploying workers at their assigned job (Bratton, and Gold, 2017). A organisation have HR
which is usually responsible for creating, and putting effort in developing effective polices to
govern workers and maintain the healthy relations with the employees. In this present report,
Merrill Lynch is a prime company on which this report has been conducted. It is an financial
consultancy firm which also provide banking services to their customers. It explain about the
different function of HRM and their strength as well as weakness while recruiting employees.
Further it explaining benefits of practices of HRM and evaluating effectiveness of various HRM
in the terms of profit. At last report covers about application of the HRM practises in
organizational context.
TASK 1
P1 Explaining purpose and the role of HRM which is applicable in planning and managing
resources
Human resource management is a department where manager have the responsibility in
developing sustainable business model which help in growth and profit maximization. It also
have different operational functions such as training, selection and provide development
programmes to employees. HR manager of the Merrill Lynch should maintain the polices
regarding Management and its operational activities so that employees may improve their
efficiency while performing their task.
Aim of the human resources management
Important purpose of the Human resource management coordinates among various
department. This help in developing the proper communication within employees to perform
their activities smoothly. HR have to look after employees work , if necessary provide them
training to enhance their skills which help in gaining larger profit and improved market share.
For the company like Merrill Lynch manager should take proper feedback from their employees
so that quality steps can be taken for further improvement in organisation. The HRM focus on
developing the job satisfaction for employee and for retaining them for a long time period.
Role of HRM in the planning workforce
1