Assignment on Human Resource Management - HSBC Bank
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Added on 2020-06-03
Assignment on Human Resource Management - HSBC Bank
Added on 2020-06-03
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Human Resource Management
Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1............................................................................................................................................1P1 Purpose and functions of Human Resource Management.....................................................1P2 Strengths and weaknesses of recruitment and selection approach.........................................3TASK 2............................................................................................................................................4P3 Benefits of various HRM practices for employees and HSBC Bank ...................................4P4 Effectiveness of different HRM practices in terms of raising company's profit &productivity.................................................................................................................................6TASK 3............................................................................................................................................8P5 Importance of good employee relation and their influence on HRM decision making.........8P6 Key elements of employment legislation and their influence on HRM decision-making.....9TASK 4..........................................................................................................................................10P7 Application of various HRM practices in an enterprise.......................................................10CONCLUSION .............................................................................................................................14.......................................................................................................................................................14
INTRODUCTION Human resource management is the best term that used to determine formal systemswhich devise for the administration of people within an enterprise. The responsibility and duty ofHR manager is fall into three different areas; staffing, employee benefits and compensation. Anddesigning or defining work. Fundamentally, the purpose and motive of human resourcemanagement is to increase the productivity and profitability of a company by optimising thesuccess of its workforce. In simple word, HRM is an effective process of recruiting anddeveloping workers so that the frequently valuable to the business entity (Arrowsmith andParker, 2013). This activity includes planning individual needs, conducting job analyses, trainingand development, providing incentives and resolving disputes. Present assignment is based onHSBC Bank headquartered in London. They offers different services related to financial andbanking to its clients. This report includes different functions and purpose of HRM, Strengthsand weakness of selection and recruitment approach, advantages of HRM practices, Importanceof good employee relation and key elements of employment legislation. All these are highlyeffects on business profitability and productivity level. TASK 1P1 Purpose and functions of Human Resource ManagementHRM is the process and effective activity through which entire workforce can bemanaged in a proper and structured manner. It covers some elements such as selection,recruitment, induction, compensation, motivation, benefits, placement, training and developmentetc. It assist in maximising the effectiveness of the enterprise by proper utilisation of workforce(Baluch, Salge and Piening, 2013). Definition of Human resource management: According to the Edwin Flippo; HRM is aplanning, directing, organizing, controlling of development, procurement, integration,compensation, separation and maintenance of HR to the end that organisational, personal andsocial objectives are accomplished accordingly. Purpose of HRM: Main purpose and motive of HRM is to recruit right or capable person for accuratepositions in perfect time period. For this, human resource management is necessary and essentialfor administrator to forecast manpower requires of company and complete that by recruiting1
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