Human Resource Management Practices : Doc

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Human ResourceManagement
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Purpose and functions of HRM, applicable to workforce planning.................................1P2. Strengths and weaknesses of different approaches of recruitment and selection...........2M1 How the functions of HRM can provide talent and skills required to fulfil business goals.4M2 Evaluate Strengths and Weaknesses of different approaches to recruitment and selection.4TASK 2............................................................................................................................................5P3 Benefits of different HRM practices within an enterprise for both the employer andemployee................................................................................................................................5P4 Effectiveness of different HRM practices in terms of raising organisational profits andproductivity.............................................................................................................................6M3 Different methods used in HRM practices and specific examples to support evaluation.7TASK 3............................................................................................................................................7P.5 Importance of employee relation effecting the decision making of HRM.......................7P.6 Key elements of employments legislation having an impact on HRM decision making8M.4 Key aspects of employee relations management and employment legislation and theireffect on HRM decision making.............................................................................................9TASK 4............................................................................................................................................9P 7 Application Of Human Resource Management Practices in a work related context.......9M5 Rationale for application of specific HRM practices in a work related context............12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONIn every business, Human resource management is regarded as an appropriate process ofplanning, hiring, induction, orientation and managing workforce within enterprise. There arevarious 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 andvarious function performed by managers for workforce planning in context JP Morgan firms indiscussed (Storey, 2014). Further strengths and weakness of various approaches used forrecruitment and selection have been analysed along with evaluation of effectiveness. This reportwill also provide understanding about benefits of different HRM practices performed by managerfor employers and employees. At last, key employment legislation and its influence HRMdecision making is also discussed in this report.TASK 1P1. Purpose and functions of HRM, applicable to workforce planningHuman resource management is considered as a practice of recruitment, selection,deployment and management of employees in an organisation. It mainly involves carrying outjob analysis, planning personnel requirements, recruitment of individual for the job, orientationand training, managing compensation, performance evaluation and communicating withemployees at different levels in organisation (Wilton, 2016). In this context, nature and scope ofstrategic human resources in JP Morgan organisation is analysed which is applicable toworkforce planning.NatureMainly, HRM is pervasive in nature as it is present in all business enterprises. It aims atimproving employee competencies and performance so that they will be able to perform theirroles and responsibilities workplace.HRM practices helps the organisation to meet its goals in future by providingcompetent and well-motivated personnel. It also triesto create and maintain cordial relationsbetween people working at different level in organisation.ScopeHRM is concerned with the workforce planning, recruitment, selection, transfer,promotion, training & development and remuneration etc. In JP Morgan, HR professionals1
needs to perform all these important tasks toensure availability required number of potential andskilled 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 itsemployees (Taylor, Doherty and McGraw, 2015).Industrial relations: Main purpose of HRM is to create positiveworking relationship betweenemployers and employees at workplace. This helps in resolving conflicts and increasemotivation of workers towards organization.There are various important functions in accordance with workforce planning inorganisation which are discussed below:Forecasting: It involves analysing the manpower requirements for various job position atdifferent levels within enterprise (Moore and Jennings, 2017). In JP Morgan Firm, managerneeds to attain information from different departments and analyse the requirement of employeesfor job position. This aims at completing the need of potential employees who are able toperform 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 JPMorgan will be able to create Job specification and description for specific position.Recruitment and Selection: After Job evaluation, managers also needs to perform this functionwhich involves attracting required talent and selection of potential employees on the basis of jobdescription and specification (Bamberger, Meshoulam and Biron, 2014).Training and development: This practice is concerned with theevaluation of need ofimprovement and development skills of employees. After analysis, manager needs to organiseappropriate training and development for workers. This helps in developing their competenciesto perform the roles and responsibilities more effectively.P2. Strengths and weaknesses of different approaches of recruitment and selectionRecruitment isa process of attempt to attract and encourage candidates to apply forexisting or anticipated job openings. Selection is important procedure of screening quality andpotential individual from the pool of recruited candidates for hiring on specific job position. Inthis context, there are various important approaches of recruitment and selection which can beapplied by HR professional for hiring of qualified candidates at workplace (Glendon, Clarke and2
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