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P.1. Purpose and functions of Human resource management

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Added on  2020-12-09

P.1. Purpose and functions of Human resource management

   Added on 2020-12-09

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HUMAN RESOURCEMANAGEMENT
P.1. Purpose and functions of Human resource management_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1...........................................................................................................................................1P.1. Purpose and functions of Human resource management and also explain the 'Hard andsoft' approach of HRM for planning and resourcing JP Morgan &co. ......................................1P.2 Strengths and weakness of the approaches to recruitment and selection and benefits anddisadvantage of internal and external recruitment......................................................................2M.1. Ways in which Functions of human resource management gives the appropriate skills toachieve the objectives of the business.........................................................................................5M.2. Strength and weakness of approaches to recruitment and selection...................................5M.3. Example of the above discussion........................................................................................5TASK 2............................................................................................................................................5P.3. Benefits of different HRM practices for both the employer and the employee...................5M.4. Different Methods for HRM Practices ..............................................................................6P.4. Effectiveness of HRM practices in terms of organisational profit and productivity. ........7TASK 3............................................................................................................................................8P.5. Importance of employee relations which influence HRM decision making and strategy toimprove employee relation..........................................................................................................8P.6. Key elements of employment legislation and its effect of HRM decision making.............9M.5. Key aspects of employee relation management and employee legislation that affectsHRM decision making................................................................................................................9TASK 4..........................................................................................................................................10P.7. Application of HRM Practices in a work related context..................................................10M.6. Rationale for the application of HRM practices in a work context..................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
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INTRODUCTIONHuman resource department is the backbone of an organisation. It is a process ofemployee’s management and it also concerns with hiring of new talents, training anddevelopment and motivating workers of the company. This assessment is context to JP Morgan&company. It is an investment banking institution which was founded in the year 1871 by J.P.Morgan. Headquarter of the firm is situated in New York city. This report will include Purposeand functions of Human resource management and Hard and soft approach of HRM. Further itwill also describe Strengths and weakness of the approaches to recruitment and selection.Benefits and disadvantage of internal and external recruitment are also being shown under thisassignment. Effectiveness of HRM practices in terms of organisational profit and productivitywill be shown briefly. TASK 1P.1. Purpose and functions of Human resource management and also explain the 'Hard and soft'approach of HRM for planning and resourcing JP Morgan &co. Human resource management is a process of hiring and developing new talents for theorganization. A specific human resource department is established in company for recruiting,managing and giving training to the employees of an organization. It also reviews theperformance of workers and solve disputes between any two persons in the company.Functions of human resource management: Recruitment and selection: Recruitment is that process of selecting the best talent for aparticular job. But before hiring a new talent HR department has to go with long procedure ofproper staffing plan and should know the number of vacancies and needed employees needed inthe organisation (Bolman and Deal, 2017).Maintaining good working conditions: It is main work of human resource departmentto provide good working condition to the employees. HRM department of JP Morgan motivatesits employees so that they can help in achieving goals of the organisation(Functions of humanresource management, 2016). This entity has such working environment that it provides jobsatisfaction to the people working in firm.Managing employee relationship: It is very important for the company that allemployees work as a team and should work in coordination. If employee will have conflictsbetween them then it will affect the productivity and results of organisation. Human resource1
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department of JP Morgan manages relationship of all the employees and if any dispute arisesthen it focuses on solving it as soon as possible (Brewster and et.al.,2016).Purpose of human resource management: Human resource managementis the backbone of the company. As this department, focuses onemployees and their recruitment, working environment so that they will help in achievingorganisational objective. JP Morgan focuses on productivity and efficiency of employees throughHR department of the company.Hard and soft approach of Human Resource management:There are majorly two approaches of human resource management in an organisation.These two classification are explained below: Hard HRMSoft HRMHard HRM:JP Morgan uses this approach and see its employees as resource of the company. This type of 2Illustration 1: Functions of human resource management(Source: Functions of human resource management,2016)Illustration 2: Functions of human resource management(Source: Functions of human resource management,2016)
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