Human Resource Management Report

This report examines the role of Human Resource Management (HRM) in JP Morgan, analyzing key functions, recruitment and selection approaches, benefits for employers and employees, and the impact of employee relations and employment legislation on decision-making. It also includes a case study demonstrating the application of HRM practices in a real-world context.

Human Resource Management
TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1

P1. Purpose and functions of HRM, applicable to workforce planning.................................1
P2. Strengths and weaknesses of different approaches of recruitment and selection ...........2
M1 How the functions of HRM can provide talent and skills required to fulfil business goals. 4
M2 Evaluate Strengths and Weaknesses of different approaches to recruitment and selection. 4
TASK 2............................................................................................................................................5
P3 Benefits of different HRM practices within an enterprise for both the employer and
employee ................................................................................................................................5
P4 Effectiveness of different HRM practices in terms of raising organisational profits and
productivity.............................................................................................................................6
M3 Different methods used in HRM practices and specific examples to support evaluation.7
TASK 3............................................................................................................................................7
P.5 Importance of employee relation effecting the decision making of HRM.......................7
P.6 Key elements of employments legislation having an impact on HRM decision making 8
M.4 Key aspects of employee relations management and employment legislation and their
effect on HRM decision making.............................................................................................9
TASK 4............................................................................................................................................9
P 7 Application Of Human Resource Management Practices in a work related context.......9
M5 Rationale for application of specific HRM practices in a work related context............12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
In every business, Human resource management is regarded as an appropriate process of
planning, hiring, induction, orientation and managing workforce within enterprise. There are
various essential HRM practices have been performed by manager to analyse the potential,
performance and evaluation of newly hired employees at workplace. In this report, purpose and
various function performed by managers for workforce planning in context JP Morgan firms in
discussed (Storey, 2014). Further strengths and weakness of various approaches used for
recruitment and selection have been analysed along with evaluation of effectiveness. This report
will also provide understanding about benefits of different HRM practices performed by manager
for employers and employees. At last, key employment legislation and its influence HRM
decision making is also discussed in this report.
TASK 1
P1. Purpose and functions of HRM, applicable to workforce planning
Human resource management is considered as a practice of recruitment, selection,
deployment and management of employees in an organisation. It mainly involves carrying out
job analysis, planning personnel requirements, recruitment of individual for the job, orientation
and training, managing compensation, performance evaluation and communicating with
employees at different levels in organisation (Wilton, 2016). In this context, nature and scope of
strategic human resources in JP Morgan organisation is analysed which is applicable to
workforce planning.
Nature
Mainly, HRM is pervasive in nature as it is present in all business enterprises. It aims at
improving employee competencies and performance so that they will be able to perform their
roles and responsibilities workplace.
HRM practices helps the organisation to meet its goals in future by providing
competent and well-motivated personnel. It also tries to create and maintain cordial relations
between people working at different level in organisation.
Scope
HRM is concerned with the workforce planning, recruitment, selection, transfer,
promotion, training & development and remuneration etc. In JP Morgan, HR professionals
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needs to perform all these important tasks to ensure availability required number of potential and
skilled employees at workplace.
Welfare aspect deals with working conditions and facilities such as Canteens, rest rooms,
accommodation and medical assistance that needs to be provided by organisation to its
employees (Taylor, Doherty and McGraw, 2015).
Industrial relations: Main purpose of HRM is to create positive working relationship between
employers and employees at workplace. This helps in resolving conflicts and increase
motivation of workers towards organization.
There are various important functions in accordance with workforce planning in
organisation which are discussed below:
Forecasting: It involves analysing the manpower requirements for various job position at
different levels within enterprise (Moore and Jennings, 2017). In JP Morgan Firm, manager
needs to attain information from different departments and analyse the requirement of employees
for job position. This aims at completing the need of potential employees who are able to
perform roles and responsibilities at workplace.
Job evaluation: It implies to task of evaluating a particular job position and roles &
responsibilities of a particular job position. On the basis of Job evaluation, HR professional in JP
Morgan will be able to create Job specification and description for specific position.
Recruitment and Selection: After Job evaluation, managers also needs to perform this function
which involves attracting required talent and selection of potential employees on the basis of job
description and specification (Bamberger, Meshoulam and Biron, 2014).
Training and development: This practice is concerned with the evaluation of need of
improvement and development skills of employees. After analysis, manager needs to organise
appropriate training and development for workers. This helps in developing their competencies
to perform the roles and responsibilities more effectively.
P2. Strengths and weaknesses of different approaches of recruitment and selection
Recruitment is a process of attempt to attract and encourage candidates to apply for
existing or anticipated job openings. Selection is important procedure of screening quality and
potential individual from the pool of recruited candidates for hiring on specific job position. In
this context, there are various important approaches of recruitment and selection which can be
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applied by HR professional for hiring of qualified candidates at workplace (Glendon, Clarke and
McKenna, 2016). There are mainly two sources of recruitment such as internal and external.
Moreover, Strengths and Weakness of some important approaches of recruitment and selection is
mentioned below:
Internal Vs External recruitment: Internal recruitment regarded as assessment of an employer's
current staff in order to ascertain if any current employees are sufficiently skilled or qualified to
perform required job vacancies whereas external recruitment involves the procedure of hunting
of potential candidates from outside the organisation (Cleaver, 2017). Both these sources
involves different approaches which can be used by JP Morgan for recruitment and selection.
Job Promotion: It implies to advancement of an employee within a company position or job
tasks. In JP Morgan, Human resource managers can also recruit employee by upgrading existing
individual to higher job position by providing higher status, salary and responsibilities.
Strengths:Promotion from existing individuals is considered as advantageous because the
employees promoted are well acquainted with the organisation culture and also they get
motivated. It tends to reduce the requirement of job training (Bringezu and Bleischwitz, 2017).
Weaknesses: It lies in limiting choice to a few people and denying the selection of outsiders
who may have more qualification and skills.
Employee referrals: It is also an internal approach of recruitment in which existing employees
refer their friends and relative to company as potential candidates. In JP Morgan, Managers can
also hire candidates from employees referrals which helps in getting potential candidates who
will meet their requirement (Langford and et.al, 2014).
Strengths: Employees only refers those candidates who will meet company's requirement,
which is known to them from their own experience. They can also provide complete information
about knowledge, skills and experience of individual which they refer to organisation.
Weaknesses: Sometimes it creates issues like Favouritism and partiality in recruitment and
selection.
E Recruitment: Essential of external recruitment which is used by organisation to attract large
number of applicants from different sources like company websites, Job sites and other
consultancy services.
Strengths: Appropriate in getting efficient pool of applicants which is effective for selection of
potential candidate. It also helps in selection of potential employees in less time duration.
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Weaknesses: It is less reliable as organisation will get unnecessary application from different
sources like organisation websites, job sites and other consultancy services.
Contingency recruitment: It is regarded as contract between the consultancy firm or the
recruitment agency and organisation to fill required vacancy and recruiters will get
compensation if the candidates get selected for the job (Gupta and Shaw, 2014).
Strengths: It is considered as faster process that enable the JP Morgan to get potential
employees within specified time duration.
Weaknesses: It is also bears risk for agency because there will be no guarantee of payment if
additional competitive referral comes from the job applicant.
M1 How the functions of HRM can provide talent and skills required to fulfil business goals.
The forecasting and implementation of strategies will provide complete information
about vacant position which needs to be fulfilled by HR manager. Further function of job
evaluation also helps in analysing the worth of specific job position in organisation. Through
this, Job description can be formulated which clearly determines the roles and responsibilities
that needs to be performed by individuals. Job specification will clearly determine the
qualification and skills needed in individual to get position. After effective job evaluation,
manager will be able to develop strategies regarding compensation and select an appropriate
method for recruitment and selection. With effective recruitment procedures, managers will be
able to attract required pool of applicants and can select candidate have required talent and skills
. However, performing these HRM functions will enable the manager to fulfil organisation's
objectives of having qualified potential at job position.
M2 Evaluate Strengths and Weaknesses of different approaches to recruitment and selection
Sources of internal recruitment like promotion and transfer will be more appropriate for
JP Morgan because it has more knowledge and familiarity with the strengths and Weaknesses of
its own employees rather strange (Cleaver, 2017). It provides an opportunity to take better use
of existing talents internally available and to develop them further. In case of internal
recruitment like employee referrals, the organisation does not need to make more expenditures,
time and efforts to locate and attract potential candidates. However, sometimes it can not be
effective as organisation can also create biases and also having a limited choice to available
talents in organisation.
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In addition, E Recruitment is also beneficial for JP Morgan as it provide them large pool
of application for selection of potential candidates. It helps in getting candidates have required
skills and talent from others countries. It is recommended to business they it must adopt E
Recruitment for hiring candidates on job.
TASK 2
P3 Benefits of different HRM practices within an enterprise for both the employer and employee
Human resource managers in enterprise perform various roles and responsibilities within
enterprise which protects the interest of both employer and employees. For the benefits of
employer, they manage employee relations and also identified ways to reduce the cost of
labour. For the benefit of employees, manager can protect their rights, ensure that employers
made operate with the scope of employment and labour legislations. In this context, As HR
assistant of JP Morgan Firm, various important HRM practices have been discussed which can
be performed by manager for benefits of both the employers and employees such as:
For Conflict Resolution, HR professionals can mediate disputes within JP Morgan
whether between employees or among management and workers (Gupta and Shaw, 2014).
They can also interpret policies and procedures of organisation and also determine appropriate
workplace behaviour. Managers can also attempt to resolve matters such as Insubordination,
poor attitude, inappropriate language and other disrespectful behaviour of employees at
workplace which can lead to conflict.
Training and development is analysed Supporting workers with appropriate training and
development is another important responsibility of human resource managers. In JP Morgan
Firm, manager can organisation training sessions and demonstrate appropriate delivery method
to introduce training material based on requirements of workers. It helps manager to understand
the roles and helps in training of employees at workplace.
Employee Relations implies that HR professional in organisation can provide support for
workers who feel that their opportunities and rights have been violated. Their practices are also
focused towards welfare of employees and protecting their rights. In JP Morgan, manager can
interpret anti discrimination and harassment regulations and also provide assistance to
employees on legal matters.
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Information Resource: In this context, providing information to employees is also considered as
major responsibilities of HR managers. For example: If worker's direct superior cannot provide
suggestion on employment matters, then the question can be referred to HR department.
P4 Effectiveness of different HRM practices in terms of raising organisational profits and
productivity.
Various important and effective practices of human resource manageable in terms of
raising operational profits and productivity have been discussed below:
Learning, development and Training practices Manager can organise appropriate training and
development practices for support of enterprise (Chiang, Lemański and Birtch, 2017).
Development of competencies among employees tends to embrace productivity and performance
of JP Morgan in market. High training practices tends to embrace relationship of customer and
also provide support in maximising more profitability.
Flexible Working Options is the most important practice which implies to provide
appropriate or independent working hours or options to workers. In JP Morgan, by providing
flexible working hours, manager will be able to improve performance and motivation of
employees. They can encourage employees to create relationship with customers and suppliers
that helps in reducing cost and maximising higher profits.
Employee performance management and Monitoring is the practice in which manager
and employees work together for planning, monitoring and review of an employee's work
objectives and overall contribution towards management (Cleaver, 2017). Manager of JP
Morgan can also evaluate the performance of employers and analyse the activities performed by
them to achieve organisation goals. Through observation and interviews, they can identify need
of training and development which helps in increasing employee's productivity.
By developing an appropriate payment and reward system , manager of JP Morgan can
improve the performance and contribution of employees towards organisation. Usually
employees will improve their performance when they will get appropriate payment against their
efforts at workplace.
M3 Different methods used in HRM practices and specific examples to support evaluation.
Method of performance appraisal can be used by manager to evaluate the potential and
potential of employees at workplace. Through this, manager can analyse the requirement of
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training and development which helps in improving their performance. High performance and
competencies tends to improve its performance at workplace.
With appropriate observation, managers will be able to evaluate the performance and
contribution of workers towards achievement of organisation's objectives.
TASK 3
P.5 Importance of employee relation effecting the decision making of HRM
Employee relation is referred as the effort of an JP Morgan in management of employer
and employee relationship. An effective employee relationship ensures fair, consistent and equal
treatment of the employee of a business. Employee participation is an important point of
discussion in the UK. As this is considered very important for industrial democracy. The
relationship of the employer with its employee have a great influences in the process of decision
making. The decision of JP Morgan is taken while taking into account all the facts prevailing at
the workplace (Reid and Chance, 2016). The internal factors that influence the decision making
process can be strategies used with the organisation and the influences trade unions have on JP
Morgan and its employees. The external factor can be the employment regulations of European
Union and UK. The regulations are the provisions and rules that JP Morgan has to follow in
order to avoid legal procedures and process.
Importance and relevance of trade unions
Trade union is generally referred as an organisation which is made op of the members
who are generally employees or workers of same business or multiple businesses. The main task
of trade unions is to work for the welfare of its employees. The trade unions for JB Morgan has a
main aim to protect and advance the interest of the employees at the workplace.
Relevance:
Trade unions in JB Morgan has a main aim to protect the interest of its employees. The
aims are related with the implement growth, workplace closures, bargaining scope and level of
pay. The management of JP Morgan shall take into consideration all the relevant facts which are
emphasised by the trade unions . Say an issue is raised by the union for the workplace
environment related with the safety of employees working on machinery (Lagutina, 2016) .
Managers at JP Morgan shall take into consideration such fact and shall address the same to the
union and also to employees in order to avoid a situation of conflict of interest.
Importance:
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Trade unions are very important for JP Morgan as they work in the favour of the
employee and protect their rights against unfair practices. The unions also work in the favour of
the employee by boosting up and implantation of their rights. The management of JP Morgan
shall take into consideration influence of trade union on market, on employees and on the
organisation itself while taking long term decision for the business (Lahutina, 2016). The trade
unions have a monopoly powers which are used to set the standards for wages and salaries,
working conditions, quality of life of the workers, education etc.
P.6 Key elements of employments legislation having an impact on HRM decision making
The management of JP Morgan shall consider all relevant regulation which are formed
by EU or UK government to protect the interest if the employees. These regulation helps in
enforcement and implementation of the rights given to the employee. The employment
legislation lays down the regulation related with the data protection, anti discrimination, health
and safety, equality etc. the tow regulation which are discussed here are
Data protection: The data protection for a business organisation is governed by General
Data Protection Regulation (GDPR) of UK, which came into force on May 25, 2018. With the
formulation of this regulation Europe has become one of the strongest country around the globe
for data protection of its clients and enforces the data protection rules on the companies. As the
companies have regular and systematic access and monitoring of individual data on a large scale.
This regulation was set to protect the personal and private data on the consumers with a business.
This act harmonises the data privacy law across the whole Europe. This is to protect the rights of
the individuals (GDPR, 2018). The organisation are provided with the guidelines to handle the
personal information of the consumers. The companies under GDPR are given data protection
policies they have to maintain impact assessment and documents on how data is processed and
protected. This boost the rights of the individual consumers of the nations.
The regulation provides a proper channels and floe as to hoe the business organisation shall
handle the personal and private data of consumers with it.
Equality: the equality at the workplace is governed by the Equality act 2010 in UK.
Every employee at the workplace shall be treated equally irrespective of their age, gender, sex
orientation, disability, race, sex, marriage or civil partnership, pregnancy or maternity and
religion or belief. This act also protect every employee from discrimination on the basis of
protected characteristics (Equality act, 2010, 2018). In JP Morgan each and every worker is
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treated equally with any discrimination. The employee also have right for equal pay for equal
work. Two employee doing same work or work of same level or another wok which involves
same level of capabilities can be paid differently. This will be considered as discrimination in
pay as an action against the management can be taken. No employee shall be discriminated on
the process of recruitment and employment as well. An organisation involved in such an activity
can face legal issues.
M.4 Key aspects of employee relations management and employment legislation and their effect
on HRM decision making
The employees are the human resource of JP Morgan and the management is required to
effectively and efficiently manage this resource. A health and safe working culture ensures
employee satisfaction which increases the potential and work efficiency of the employees. In the
same way the employee legislation are the regulation set up by the government to protect the
interest of the employee in an organisation (Lahutina, 2016). Both employee relation and
employment legislation have a significant impact on the organisation thus influence the decision
making process of the JP Morgan. Whole making the decision the management shall take into
consideration all the employment regulations and the issue and ways to improve employee
relation.
TASK 4
P 7 Application Of Human Resource Management Practices in a work related context
Human Resource Management or HRM is a planned and managed approach of an
organization to have an effective management of their employees to enhance their overall
performance. The main aim of HRM is to establish a flexible and caring management style
which can help their employees to be motivated, developed and managed which will ensure in
giving their best outcome to support JP Morgan Firm. An effective team in HRM helps in
achieving their target and objective with effectiveness and on time as well (Donate, Peña and
Sanchez de Pablo, 2016). There are various functions of HRM department in JP Morgan Firm
which can help them in enhancing their performance, such as, they help in managing people
effectively for performance through an open Performance Management System (PMS), it helps
in enhancing their employees working pattern to get effective results. They also provide quality
services by organizing training and engaging staff in developing a service culture. It also helps in
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establishing the strategic linkage and integrating HR programmes through a Human Resource
Management Plan.
There are so many practices which is done in the organization, for example, setting goals
and objectives for the firm, to plan strategies for increasing JP Morgan Firm's growth in market.
Apart from this it also helps in recruitment and selection process for the organization, ensuring
the health and safety regulations for their employees, maintaining the labour and employment
rights, giving them proper training and development, etc (Zibarras and Coan, 2015). As HRM,
perfectly manages the people through an open performance management system which refer to
individual objective, tied to departmental objective and regular coaching and promote staff for
the jobs etc. Human Resource Management is all about acquiring services of people, developing
their skill, motivate the employees to do work with more efficiently and make sure to achieve the
given target with all the commitment given at the time of selection.
Person specification document for a Chef position at Michelin star restaurant
For HRM it is very important to check all the requirements for the position of a Chef in
the star restaurant as this will help them to recruit the best candidate for that job which will
increase the overall performance of the restaurant. Person specification document is a type of
process which is used by any organization to specify the rules and responsibility regarding a
particular job profile. Following are the details of the Chef position in Michelin star restaurant:
Job Description
Job Title : Restaurant Chief Chef
Working Hour : 9 AM to 11 PM daily
Role Purpose : Duties he has to follow in the restaurant includes, he has to prepare and cook
food for the clients. Chef has to follow all the guidelines in order to maintain the standard of
their food hygiene and health and safety. He also has to check the daily ordering of stock in the
restaurant. It's his responsibility to monitor stock take and stock rotation within the restaurant.
He has to control all the food items that is leaving the kitchen and also maintain the cleaning as
well. It's his duty to deliver exceptional customer service which can help them in increasing their
overall performance (Veth and et.al., 2017).
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Key Responsibilities : Responsibilities that Chef has to follow in the restaurant are, he has to
prepare the daily orders for their clients. He also has to monitor and guide their employees while
working in the kitchen so that it can help them in increasing their work performance. He has to
resolve all the issues which can arise in the kitchen to work effectively. To ensure all the
equipment which is being used are safe and clean to avoid any chance of contamination in food
item and to maintain the professionalism in his work (Chiang, Lemański and Birtch, 2017).
Other Work : Other than the key responsibilities he has to ensure that all the operation work is
going smoothly, for example, licensing, etc. To undertake any other duty deemed reasonable as
required by the manager of restaurant.
Person Specification
Qualification He has to have a doctorate degree in cooking.
He should have a strong knowledge about food preparation and food
safety.
Experience Basic understanding of health and food safety.
5 years experience in a multinational restaurant.
Skills and abilities He should posses good interpersonal skills.
Previous experience of managing and training his employees as a team
leader.
He should have ability of working in pressure if requires.
He should be capable of maintaining the work balance in restaurant.
Other qualities He should be flexible to working hours.
He should have good communication skills.
Apart from this, person specification for the post of Chef in Michelin star restaurant has
to be very strong personality who have a fine knowledge about its work as it will also help in
delivering the best service to its customers and make them satisfied from their food service (The
Importance of Human Resource Management, 2017). This will also ensure to increase the overall
performance of the Michelin star restaurant. For Human Resource Management it is very
essential to manage all this in effective manner as it can affect their functions.
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M5 Rationale for application of specific HRM practices in a work related context
Implication of the application of Human Resource Management in the organization has a
huge importance. It will help them in enhancing their overall performance in the industry which
will help then to grow their business more. HRM practices also helps in managing the work
environment in the organization which is very important for them in getting effective results as
final outcome (Importance of Human Resource Management, 2017). The most important HRM
application which can be beneficial for JP Morgan Firm in delivering their best services to the
customers is giving their employees training and development to improve their working skills.
This practice will help them to get effective result. It will also help them in getting a positive
impact from them.
CONCLUSION
From the above report, it is concluded that HRM is an important function that needs to be
performed by every business enterprise for regulation of business operations and achievement of
objectives. Human Resource Management or HRM is a planned and managed approach of an
organization to have an effective management of their employees to enhance their overall
performance. Sources of internal recruitment like promotion and transfer will be more
appropriate for JP Morgan because it has more knowledge and familiarity with the strengths and
Weaknesses of its own employees rather strange. E- Recruitment is needs to be utilized by
organisation for recruitment and selection of qualified potential employees at workplace.
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Bringezu, S. and Bleischwitz, R., 2017. Sustainable resource management: global trends, visions
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Chiang, F. F., Lemański, M. K. and Birtch, T. A., 2017. The transfer and diffusion of HRM
practices within MNCs: lessons learned and future research directions. The
International Journal of Human Resource Management. 28(1). pp.234-258.
Cleaver, F., 2017. Development through bricolage: rethinking institutions for natural resource
management. Routledge.
Donate, M. J., Peña, I. and Sanchez de Pablo, J. D., 2016. HRM practices for human and social
capital development: effects on innovation capabilities. The International Journal of
Human Resource Management. 27(9). pp.928-953.
Glendon, A.I., Clarke, S. and McKenna, E., 2016. Human safety and risk management. Crc
Press.
Gupta, N. and Shaw, J.D., 2014. Employee compensation: The neglected area of HRM research.
Human Resource Management Review, 24(1), pp.1-4.
Lagutina, I., 2016. Long working hours: trends and effects. Публічне право, (2), pp.217-224.
Lahutina, I., 2016. The implementation of the labour rights of employees in non-standard forms
of employment. Evropsky politicky a pravni diskurz, (3, Iss. 1), pp.172-177.
Langford, D., Fellows, R.F., Hancock, M.R. and Gale, A.W., 2014. Human resources
management in construction. Routledge.
Moore, L.F. and Jennings, P.D. eds., 2017. Human resource management on the Pacific Rim:
Institutions, practices, and attitudes (Vol. 60). Walter de Gruyter GmbH & Co KG.
Reid, D. and Chance, C., 2016. 2: ESOPs: Legal Complexities. ESOPS: Their role in corporate
finance and performance, p.34.
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Storey, J., 2014. New Perspectives on Human Resource Management (Routledge Revivals).
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Taylor, T., Doherty, A. and McGraw, P., 2015. Managing people in sport organizations: A
strategic human resource management perspective. Routledge.
Veth, K.N. and et.al., 2017. Which HRM practices enhance employee outcomes at work across
the life-span?. The International Journal of Human Resource Management. pp.1-32.
Wilton, N., 2016. An introduction to human resource management. Sage.
Zibarras, L. D. and Coan, P., 2015. HRM practices used to promote pro-environmental behavior:
a UK survey. The International Journal of Human Resource Management. 26(16).
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