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Human Resource Management: Merrill Lynch

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Added on  2021-02-20

Human Resource Management: Merrill Lynch

   Added on 2021-02-20

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Human Resource Management: Merrill Lynch_1
Table of ContentsINTRODUCTION...........................................................................................................................1Task 1...............................................................................................................................................1P1. Purpose and Functions of HRM............................................................................................1P2. Strength and Weakness of recruitment and selection..........................................................2Task 2...............................................................................................................................................4P3. Benefits of HRM practices within an organization...............................................................4P4 Effectiveness of HRM practices in the context of organisation raising profit and production.....................................................................................................................................................6P5. Importance of employees relation in reference to HR management in decision making.....7P6 Employment legislation and its adverse effect on HRM decision making............................8P7 Application of HRM practise in the context of organisation................................................9Conclusion.....................................................................................................................................14References .....................................................................................................................................15Books and Journals.......................................................................................................................15
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INTRODUCTIONHuman resource management play an essential part in organization, as it deals withmanaging of employees in organization. The major functions of HRM are recruitment, selection,Orientation, maintaining good working condition, training and development programs and manymore functions for each employee in the organization. It is important part by which themanagement get helps in analysing the candidates knowledge, skills, quality and performance inwork place. HRM helps in building the effective between employees and employers of thebusiness organization (Williams and Lee, 2016). The company Merrill Lynch is an American wealth management company and foundedby Charles E. Merrill in January 1914, a 105 years ago. It deals in financial services and itsheadquartered is in New York. As the company Merrill Lynch is also focuses on humanresources policies, process, practices, as all the employee contributes effectively in theorganization. The management of the Merrill Lynch is using these HRM functions very effectiveand as this play important role in the business which results in growth and success oforganization.Task 1P1. Purpose and Functions of HRMHuman resource management refers to the responsibility and management of employees presentin the business organization, as it also deals with different various function such as recruiting andselection, training & development, staffing, motivation, directing, controlling as well as theperformance and payroll management of the employees. The HR manager of Merrill Lynchcompany is focusing on different various purposes of HR as well as the polices and practices ofHRM applicable in their business organization effectively and efficiency, so they can achieve themaximum output and the profit maximization as this leads the business to the way of growth andsuccess (Vanhala and Ritala, 2016).Purpose of human resources management:The main purpose of Human Resource Management co-ordinating and managing theemployees working in business organization. It main objective is recruitment and selections,performance appraisals, providing training and development programs to workforce.1
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