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Human Resource Management Practice in raising Company's Profit and Productivity

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Added on  2020-12-24

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Human resource management INTRODUCTION 1 TASK 11 P1 Function and purpose of HRM 1 P2 Strengths and weaknesses of various approaches of selection3 P3 2013). Benefit of HRM practice to employee and employer5 P4 Effectiveness of HRM practice in raisingcompany's workers upand productivity 6 TASK 27 P5 Significance of employee relation in respect to influence on HRM decision making 7 P6 Main elements of employment legislation and their affect on decision making by HR 8 P

Human Resource Management Practice in raising Company's Profit and Productivity

   Added on 2020-12-24

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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Function and purpose of HRM..........................................................................................1P2 Strengths and weaknesses of various approaches of selection..........................................3P3 Benefit of HRM practice to employee and employer.......................................................5P4 Effectiveness of HRM practice in raising company's profit and productivity..................6TASK 2............................................................................................................................................7P5 Significance of employee relation in respect to influence on HRM decision making......7P6 Main elements of employment legislation and their affect on decision making by HR ..8P7 Examples of applying HRM practices in work related context........................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
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INTRODUCTIONThe process of recruiting, training, motivating and retaining employees is known ashuman resource management (Armstrong and Taylor, 2014). It also involve other activities liketaking decisions relating to compensation, appraise of employees etc. This assignment is basedon Waitrose & Partners which is a British supermarket chain. Around 52000 people areemployed in this company and their stores are present across Great Britain. This project willexplain the purpose and functions which is done by human resource wing. Their are variousapproaches of recruitment and selection, strengths and weaknesses of these methods will beevaluated. The contribution of HRM practices in context of profit and productivity will beevaluated as well. The importance of employee relation will be considered along withconsideration of the employment legislation while formulating decision will be studied in thisreport. TASK 1P1 Function and purpose of HRMAn organisation with quality workforce always possess a competitive edge over its rivalbusinesses. Employees are key resource of an enterprise and managing them in effective way isessential for overall growth of company. Below are purposes of HRM:Organisational purposeRecruit best person for a Job – HR division exist in an organisation because they arerequired to select most suitable candidates for vacant position. Waitrose understand that theyhave to maintain proper balance between demand and supply of workforce. Hiring best person innot the only purpose of HRM, they also predict future requirement of human resource andattempt to fulfil accordingly. Employee retention – High workers' turnover is a big issue for every corporation. HRMuse various strategies like attractive reward system, involving personnels in decision making etc.for retaining talented employees (Bratton and Gold, 2017). Contribution of this factor isimportant in workforce planning. Waitrose is working on developing a ''great workplace'' as itcan referred to as key purpose of human resource department. Individual purpose1
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Raise demands of employees – Human resource managers are appointed to key positionsso that they can represent workers and help in communicating their needs to management. HRMhelp an individual in understanding and resolving issue of every employee. Consultation – Getting opinions of workers not an easy task for a company who have alarge workforce. One of the most unpopular purpose of HRM is get suggestions from personnelswho are working at operational level. It also involve passing the instruction which are given bymanagement for whole organisation like rules relating to health and safety (Jackson, Schuler andJiang, 2014). Function of HRMManagerial functionPlanning and Organisation - Forecasting demand and supply of employees is animportant work which human resource team have to carry out. Waitrose also want to expandtheir business like of any other company and ascertaining appropriate requirement of workforceis essential part of this process. After forecasting, their next job is to identify net shortage orexcess and make a plan accordingly. Organising involve various tasks like allotting functions toindividuals, delegation of authority and coordination of all the activities so that it leads toimprovement in business operations. Directing and Controlling – Motivation is one factor which create different betweenproper and poor execution of plans. Human resource team perform an important function i.e. tomotivate employees and show them right direction. Controlling is an activity which concentrateon comparing actual results with planned one. Performance appraisal, personnel audits areinvolved in this function that leads to identifying performance of employees and undertakingmeasures to improve the same. Operational functionWorking condition and welfare – HRMis responsibility for providing appropriateworking environment to employees. Training can increase efficiency of workers up-to a limit, ifpersonnels like Supermarket assistant will get productive atmosphere and proper facility thenthey can deliver better results. Recruitment and selection – Selecting right pool of talent for the company is primaryfunction of HR team (Kehoe and Wright, 2013). This division of Waitrose understand that theycannot attain set objectives until they select most suitable candidate for a job profile.2
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