Human Resource Management HSBC

Added on - 22 Jul 2020

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HUMANRESOURCEMANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Functions and purpose of HRM.............................................................................................1Strengths and weaknesses of different approaches to recruitment and selection...................4TASK 2............................................................................................................................................6Human Resource Management's advantages for employer and employees...........................6Effectiveness of HRM practices.............................................................................................7TASK 3............................................................................................................................................9Importance of employee relations..........................................................................................9Main Aspects of employee laws and its effect on HRM decision making...........................10TASK 4..........................................................................................................................................12HRM practices in work associated context..........................................................................12CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................16
INTRODUCTIONHuman Resource Management means administration of manpower in best possiblemanner so that they work with full efficiency and this action aids manager in gaining higherprofitability. When workforce is managed in a proper way by allotting them short run targetsthen company secures a prominent position in marketplace(Almond, 2011). In earlier daysorganisation was not very focused in managing their workers but in 1900s a term came into forceand its name was Human Resource Management but it was not very much clear and lots ofimprovement were needed so in 1960s a broader concept related to this came into action. Mainfunction of HRM is to focus on every employee who are working in corporation and mustprovide them a cooperative environment. This report is based on HSBC Bank that isheadquartered in United Kingdom. It is a financial institution which started its operations in1865. This assignment comprises various functions of HRM along with purposes, strengths &weaknesses of various HRM approaches, different employee development method and severalhuman resource practices.TASK 1Functions and purpose of HRMHRM is one of the prominent department which mainly focusses on recruitment of newemployees, give guidelines to fresh candidates in a job. Functions of Human resourcemanagement can be classified into three factors i.e. operative, managerial and advisory(Kaufman and Miller, 2011).There are various functions of manpower management andelaboration of these are stated as beneath:Hard approaches of HRM:In this model association uses workforce as their own assetfor performing business activities and workers will utilise their talents and specialisations forhitting all goals in limited period of time for acquiring higher position in marketplace.Soft HRM:In respect to this, manpower is provided with sufficient privileged and arebeing treated as human resource for ASDA and it is responsibility of managers that they ensurethat staff member would not feel any complications and issues in conducting task performance.When workforce would not feel any clashes and problems only then employees can help theirassociation in capturing larger space in market.1
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