Human Resource Management : Research Proposal

Human Resource
Management

INTRODUCTION
Human resource management is consider as a procedure to deal with proper management
of peoples at an organization that aid or assist staffs that how they conduct activities properly as
well as attaining competitive advancement. It will also help in enhancing performance of
employees by motivating and encouraging them which leads to accomplishment of task in
impressive way. In an organization there are numbers of functions that are executed by human
resource management, those are i.e. related to planning, organizing, directing, controlling,
monitoring and many more (Coccossis and Mexa, 2017). Firm taken for this report is Merrill
Lynch that is dealing in financial service industry and it is founded in year 1914 by Charles E.
Merrill. Its headquarters is located at New York City, New York, United State. This respective
enterprise is operating its activities through several divisions such as Merrill Lynch Wealth
management, Merrill Edge, Merrill Private wealth management and many more. Topics which
are going to explain in this report are purpose and function of Personnel Management as well as
it will include recruitment's strength and weaknesses and selection approaches. In addition to
this, it will also consider goodness of different HRM practices and its effectiveness in order to
arise profits. This report will also inform about importance of diverse Human Resource
Management document as well as legislation of respective field.
TASK 1
P1
HRM refers department which plays an essential role at workplace. They also conduct
various necessary activities such as planning, recruiting, controlling, selecting, monitoring,
motivating and many more (Donate and Pablo, 2015). Through this employees get motivated as
well as conduct its activities in impressive style which leads to achievement of targets as well as
goals. The respective department at Merrill Lynch develop strategies and hire employees
accordingly this will leads to accomplishment of company's aims and targets. Addition with this,
they execute their full potential to training and motivate workers which will target to conducting
of work in effective style. There are various scope of human resource management which are
faced by Merrill Lynch are it help in employees hiring, remuneration management, help in
developing and maintaining industry relationship. Along with this it will also help in motivating
employees, maintaining staffs, understanding prospectives of employees and many more. Some

of the major purpose as well as functions played by HRM of a respective organization are
mentioned below:-
Human resource management purpose
 Staffing: It is consider as main purpose of HR manager in which they generally conduct
recruitment and selection of appropriate candidate for a company so that they give their
full efforts so that they able to attain their target in impressive style by accomplishing
work properly (Potts and et.al., 2016). In regards of this organization its HR manager do
proper analysis of candidate before recruiting them. This is so because through it they
able to identify respective candidate is appropriate or not.
 Benefits: Another major purpose of human resource manager is to create scheme as well
as action plans in order to provide benefits to staffs so that they feel motivated and do
task or operations in effective style (Geisler and Wickramasinghe, 2015). In respect of
Merrill Lynch their human resource manager provide various benefits such as health
insurance, dental insurance, retirement plans and so on. By this employees of respective
firm also get encouraged as well as motivated so accomplish their work effectively.
 Performance Appraisal: It is necessary for human resource manager to analysis
performance of employees appraise them accordingly. This is so because through it they
feel motivated as well as feel valuable that will encourage them to conduct its actions in
effectual way (Ortiz and Bansal, 2016). In this context HR manager of Merrill Lynch
design various appraisal policies like rating, reward, promotions and many more.
Moreover by this staffs of this firm will able to accomplish their task impressively.
Function of HRM
 Planning: This is consider as managerial role of HR manager and department at that they
create goal and target for organization and its employees. Along with this they also
develop or plan policies as well as procedure which help them in gaining target
(Marsden, 2017). In regards of Merrill Lynch its human resource manager conduct proper
planning of each and every things so that its employees do those function in proper
manner. It will guide them to accomplish their targets smoothly and effective manner.
 Training as well as development: This is consider as function of HR manager to
develop activities related to training as well as development which will motivate and
encourage its staffs to accomplish its work impressively and successfully (Grizzetti and