This article provides an overview of the functions and purposes of HRM, including recruitment and selection approaches, HRM practices, and the importance of employee relations. It also discusses the impact of legal and regulatory frameworks on HRM activities. The article focuses on the case of Merrill Lynch Firm and covers topics such as training and development, compensation, advising to top management, and the different models of HRM. It also explores the concepts of workforce planning and the labor market, as well as the impact of legal and regulatory frameworks on HRM activities. The article concludes with a discussion on the application of HRM practices in the context of Merrill Lynch Firm.