Human Resource Management - Assignment (PDF)

Human Resource
Management

Contents
INTRODUCTION...................................................................................................... 3
TASK 1................................................................................................................... 3
P1 ...................................................................................................................... 3
P2....................................................................................................................... 4
TASK 2................................................................................................................... 6
P3 ...................................................................................................................... 6
P4 ...................................................................................................................... 6
TASK 3................................................................................................................... 7
P5 ...................................................................................................................... 7
P6 ...................................................................................................................... 9
TASK 4................................................................................................................. 10
P7 .................................................................................................................... 10
CONCLUSION....................................................................................................... 12
REFERENCES ....................................................................................................... 13

INTRODUCTION
Human Resource Management is identified as a strategic approach to effectively
manage manpower of organization so that they assist business in gaining high competitive
advantage. Responsibilities of HR administrator falls into 3 main areas, i.e., staffing, defining
work, employee compensation & benefits (Baluch, Salge and Piening, 2013). Human
resource professionals are liable for employ, examine, display and selecting workforce. The
Hr managers hold payroll process, make advantages, training and employee relations. Overall
purpose of human resource is to ensure that company is able to attain success by people. In
the present assignment, given organization is JP Morgan which is an American multinational
banking corporation headquartered in London. The assignment covers different scope and
purpose of HRM applicable to work force planning and resourcing of firm along with
strengths & weaknesses of recruitment and selection process. Apart from this, organization
have to make some benefits that provides some exercise to employer and worker & its
effectiveness in terms of increasing productivity and profit of company is also included. In
addition to this organization need to make some significance and few key elements for
employment legislation as well as it also make an emphasis on application of HRM practices
that had been mentioned in the report.
TASK 1
P1
Human Resource Management: This is a key approach that considers to shapes
strategies, make programs and various plans by emphasis on paradigm on demand and
requirements of its manpower. It important working areas is related to employ
representatives, negotiate them, defining pay design and to assign activity to them as per their
abilities and capacities. JP Morgan is a business enterprise organization in UK that offers
unique client inferior and leading in entire range of financial service products. The
fundamental component behind the productivity of company's task and high quality services
is its capable representatives that endeavor to work to administer clients with satisfaction. In
this manner, organization give tremendous compactness to realize the endeavors of its staff
by framing and execution various program and policies that provides benefits to employees.
Additionally organization ensure that appropriate workforce planning ought to be followed
by business. Manpower planning is a method in which supervisors adjust necessarily things
of its manpower to the accusative in which it is achieve by an organization. The primary part
of HRM division in which JP Morgan assures all program mes that right individual is hire at
accurate employ place so that working can be done effectively. Specified beneath are some
purpose that are to be trailed by HRM division of JP Morgan.
Recruitment and Selection: It frames the least essential function of HRM department
of JP Morgan. All directors make utilization of different inside & outside sources of
achievement that ensures the selection of least suitable in position of their capability and
capacities (Functions of HRM, 2018). HR administrators give significant time for conducting
job analysis as well as preparing job specification keeping in mind the end goal to coordinate
KSA requirements for candidate to have specific business record. For workers of JP Morgan
it is fundamental process to know actively different finance workers, IT & analytic skills
alongside experience to deal with different sorts of customer.

Training and development: It is one of the imperative function of HRM division of
JP Morgan which helps in developing skills and capabilities of workforce so that they
provides high competitive edge to company in market. HRM professional of JP Morgan leads
a need evaluation programme to get proper understanding about needs and requirements of
their workforce. In this way, it encourages administrators to build up a suitable training
program for their new candidates and for existing workers. For example, an employee in JP
Morgan is required to have good command over their correspondence and relational aptitudes
with the goal that they can without much of a stretch handle clients of different backgrounds
and can influence them to get their banking services (Bloom and Van Reenen, 2011).
Likewise they are essential to have great logical and IT learning to deal with different
software. Consequently, to influence its group to be knowledgeable with such aptitudes to
organization conducts different professional activity and shortened programming acquisition
instructions for its workers so they can productively deal with customers and their issues.
Hard and Soft Approaches of HRM:
Hard HRM Approach : As per this approach, employees are treated as machines for
the business of banking which are overseen and dominated in order in achieve association
targets with greatest yields inside constrained time span with least wastage. In this model,
administrators follow administrative leadership style where in representatives are bound to
take after directions with the faculty members and exclude them or ask sentiment before
picking and execution of other choice. For example contrarily inspiration includes workers
been debilitate to get chopped down in motivations in the event of non accomplishment of
targets.
Soft HRM Approach : As per this approach, employees are considered to be the vital
part of organization or as most significant assets that helps company in attaining its
objectives and getting high competitive advantage in market. In this approach administrators
keep a free communication process all the representatives and urges to make a participation
in basic leadership procedure. Administrators endeavors to give flexible workplace to its
work force where they great to share their thoughts, concern, sentiments without being
dreaded of the results. For example, acknowledging representative giving most astounding
execution as star entertainers before entire staff (Cox, Arnold and Tomás, 2010).
In case of JP Morgan, firm believes in giving healthy, flexible workplace and business
spirit to its representatives. By utilize delicate HRM approach organization gave a few chance
to its representatives to take part so that they share their thoughts, issues and sentiment about
doing any work betterly. This assistance association made to take a part in different business
enterprise exercises that actuate to work in brimful energy and devotion to achieve their
allocated undertakings.
P2
Hiring is a method that frames a center approaches of HRM which is related with
enlisting and to choose most suitable workers to set all the goals and necessities of a specific
employment. Recruitment can be portrayed as the methodology of pulling in, short posting
and picking most appropriate contender for a prospective employee meeting. It helps to find
all the essential tools that helps to strengthen organization effectiveness in which all HR