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The Role of HRM Practices in Raising Profitability of Organisation

   

Added on  2020-06-04

15 Pages4108 Words175 Views
Human Resource Management
The Role of HRM Practices in Raising Profitability of Organisation_1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................4P1 Purpose and function of HRM...............................................................................................4P2 & M2 Strength and weaknesses of different approaches of recruitment and selection.........5TASK 2............................................................................................................................................7P3 Benefits of different HRM practices for employer and employee.........................................7P4 & D2 Effectiveness of different HRM practices in raising profitability of organisation......8TASK 3............................................................................................................................................9P5 Importance of employee relations and its power to influence HRM decision-making........9P6 & M4 Key elements of employment legislation and the impact upon HRM decision-making.......................................................................................................................................10TASK 4..........................................................................................................................................11P7 Application of HRM practices.............................................................................................11CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................15
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INTRODUCTIONHuman resource management is the important function of organisation. To properlyconduct the activities of organisation, it is necessary to have effective human resourcemanagement. This includes the activities related to appointment of personnel, determination ofremuneration, appraisal of performance and maintenance of employee relation. All theseactivities are important for the success of organisation (Bratton and Gold, 2012). Rent-A-Car isindulge in the car rental business, founded by Jack Taylor in 1957 in USA.In this present report explain about, Different functions and purpose of HRM, strength andweaknesses of different recruitment approaches and benefits of different HRM practices toemployer and employee and their effectiveness in raising the profitability of organisation. Herealso explain about, importance of employee relation in company and different key elements ofemployment legislation and their impact on HRM decision making.
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TASK 1P1 Purpose and function of HRMThere are many purpose and function of HRM in organisation. This helps the company toeasily conduct the activities. This will contribute in increase the profitability of company. Rent-A-Car is establish the business of car renting in USA (Brewster and Hegewisch, 2017). Thiscompany has the largest car renting business now and many employees are working to operatethe business effectively. It is the duty of HR manager of company is to properly conduct thefunctions of company. For this purpose different purpose and functions are described below:Purpose of HRMThe purpose and objective of company is to properly the manage the activities ofcompany. Different purposes of HRM includes, internal customer management, Staffing,Compensation and performance, laws etc. It is the duty of HR manager of the company is toproperly implement the functions to achieve objectives of cited company:Internal customer management: It is the duty of HR manager to implement the policiesand process to attract, recruit and retain quality of workforce. This helps the company toattract the customer towards the services. This helps the company to increase theprofitability.Staffing: It includes the process of fulfilment of workforce of company. This helps thecompany to properly conduct activities of business and fulfil the demands of customers. Compensation and performance: It includes the process of providing compensation toemployees on happening of health related issues and implement proper performanceappraisal performance (Chelladurai and Kerwin, 2017).Functions of HRMThe HR manager of Rent-A-Car has to perform the following functions which aredescribed below:Recruitment and selection: The main function of HR in company is to appoint theemployees according to requirement to handler the activities effectively. There are manyapproaches are used by them for selection of employees which includes: onlinerecruitment, personal interview, external sources etc.
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