Human Resource Management Approaches
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Added on 2020-12-09
Human Resource Management Approaches
Added on 2020-12-09
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Human Resource Management
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Purpose and function of HRM ..............................................................................................3P2 Strength and weakness of different approaches to recruitment and selection.......................5TASK 2 ...........................................................................................................................................8P3 Benefits of different HRM practices to employer and employee .........................................8P4 Evaluate the effectiveness of different HRM practices........................................................9TASK 3..........................................................................................................................................10P5 Importance of employee relations in respect to influencing to HRM decision making.....10P6 Employment legislation and their impact on the decision making......................................11TASK 4..........................................................................................................................................13P6 Applications of HRM...........................................................................................................13CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONHuman resource management is a process to manage the employees of an organization.They have the prior responsibilities to emphasize on utilizing staff as business assets. Thisprocess incorporates the recruitment, talent acquisition, induction and orientation, training anddevelopment, performance management and appraisal. Furthermore, it also comprises ofmotivating and establishing public relationships, employees safety through developing thepolicies and procedures that are beneficial for the firm and employees as well (Albrech, 2011. According to the given scenario, JP Morgan is a firm that is assisted by the HR to pursueseveral human resource activities that can provide benefits to the firm. This report comprises ofpurpose and functions of HRM along with hard and soft approaches, internal and externalrecruitment and selection with their strength and weaknesses. Along with this it also includeemployer and employee benefits, HRM practices that raise the profit and productivity,significance of employee relationships that may impact on the decision making, employmentlegislation and application of HRM. TASK 1P1 Purpose and function of HRM Human resource management plays a very important role in the success of organisationand also help business to sustain for a longer period. HRM aims on maximizing the employeeperformance in an enterprise. HR perform various activities in the organisation such asrecruitment, selection, training, performance appraisal and rewarding employees for thecontribution in the organisation (Armstrong and Taylor, 2014). They manage human resourcewithin the organisation.Purpose of HRM are as follows: Managing employee relations: This is the basic function which every HR officer ofdifferent organisation perform. JP Morgan also make efforts to make better relations withemployees by providing proper guidance about employee laws and policies.
Training and development: Effective training help to convert knowledgeableemployees into highly skilled employee. The respective company also go with the long processof training so that skilled worker gets converted into highly skilled. This is undertaken toincrease the skill and knowledge which help them to perform the task effectively.Developing work force environment: HR officer should make sure that there is nodiscrimination within employees in the organisation for prosper their growth and workingenvironment positively. JP Morgan HR should maintain positive environment means that everyemployee gets equal opportunity to grow and treat in the same way like other employees of thebusiness (Nehles, Vanand and Kees, 2013).Functions of HRM are as follows:Manpower planning: HRM of the organisation start discussing the employees they needto perform a particular job. In this they make plan which they require to undertake a particulartask. For a human resource planning means determining the personnel programs which willcontribute to the goals of organisation. For example: estimating vacancies, planning jobrequirements ,job description and so on. JP Morgan HR department also do all such type ofplanning before going on recruitment process.Compensation: Under this function HR determines the adequate and balancedremuneration of the employee for their contribution to organisational goals. The payment canboth in term of monetary or non-monetary terms. JP Morgan, HR department also keepfollowing factors when they determine the remuneration of the personnel like needs, requirementof job ,laws related to minimum wages and wages level for the same profile etc. Scope of strategic HRM practicesStrategic HRM is the practice of attracting, developing, rewarding and retaining workersfor the benefit of both employees as individual and the enterprise as whole. They do not workindependently with the silence they interact with various department of organisation to knowtheir goal and make strategies according to their objectives as well as organisation (Bratton ,2017). They are also considered as pro - active management of employees. They think ahead andmake plans for the betterment of organisation and individual. By using all these strategicapproach such as high performance management, commitment and involvement JP Morgan canincrease the performance of the firm.Approaches of HRM
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