Human Resource Management Assignment -IKEA
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Added on 2021-02-20
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Report will include purpose and functions of HRM applicable to work force with the strength and weakness of different approaches of recruitment and selection. Further report will include the benefits of different HRM practices for both the employer and employee. Effectiveness different HRM practices in terms of raising organisational profit and productivity. It will also include the importance of employee relations in respect to influencing HRM decision- making. Final report ends with the key elements of employment legislation and the impact it has upon HRM decision making. Illustrating the HRM practices in a work related context. You can also check "Case Study on Ikea Assignment" for better understanding.
Human Resource Management Assignment -IKEA
Added on 2021-02-20
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HUMAN RESOURCEMANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................1LO1..................................................................................................................................................1P1- purpose and functions of HRM at workplace.......................................................................1P2- Strength & weaknesses of recruitment & selection approaches...........................................2LO3..................................................................................................................................................5P3. Benefits of HRM practices to employer and employees.......................................................5P4. Effectiveness of HRM practices............................................................................................7LO3..................................................................................................................................................9P6- Key elements of employment legislation and impact on HR decision making....................9LO4................................................................................................................................................10P7.HRM practices in work related context................................................................................10CONCLUSION..............................................................................................................................16REFERENCES..............................................................................................................................17
INTRODUCTIONHuman Resource Management (HRM) is the term used to describe formal systems devisedfor the management of people within an organisation. The purpose of HRM is to maximize theproductivity of an organisation by optimizing the effectiveness of its employees.Present study is based on the company IKEA, it was founded in the year 1943 by Ingvarkamprad in Sweden. IKEA is a swedish-founded multinational group that designs and sells readyto assemble furniture, kitchen appliances and home accessories, among the other useful goods.Report will include purpose and functions of HRM applicable to work force with the strengthand weakness of different approaches of recruitment and selection. Further report will includethe benefits of different HRM practices for both the employer and employee. Effectivenessdifferent HRM practices in terms of raising organisational profit and productivity. It will alsoinclude the importance of employee relations in respect to influencing HRM decision-making.Final report ends with the key elements of employment legislation and the impact it has uponHRM decision making. Illustrating the HRM practices in a work related context, using specificexamples.LO1P1- purpose and functions of HRM at workplaceTraining & Development:It is the main function of HRM. It helps an organization for improving the knowledge andskills of individual and group of people. Training & Development are two different words,training fulfil the short term goal of organization, it has some special goals and objectives ofenhancing the capacity, capability, performance etc. whereas, development is useful forachieving the long term goals of firm and employees. IKEA provide the training anddevelopment facilities to their employees for better and high quality production of furniture(Purpose of HRM, 2016). The company provide training to their employees at the time of jobenlargement, job enrichment and also the at time of changing job location and scope. Thatprogram may also develop the knowledge and skills of the person, also improve their workefficiency. Purpose:Primary purpose behind the training and development program of firm is improving theknowledge and skills of employees for the better performance of their role. It may also enhance1
employee’s engagement and morale. T&D improve retention of employees and support them fordevelopment and growth.Recruitment & Selection:It is the main function of HRM, In simple words recruitment is the process of searchingnew candidate and finding and attracting able candidate for job and selection means, picking upapplicant who have relatable qualification and ability to getting these job. In IKEA recruitmentand selection is also conducted by the management team. If an individual want to work with Ikeacan easily apply on the open position in company by online and also by walk in interview.Individual have certain quality for job in IKEA and which is examine by the interviewer i.e.driven and adopt a teamwork, quality, good communication and urgency of the job. Individualmust have specific experience and qualification, must be down to earth and candidate must havethe spirit of advertising. An individual who have potential, specific education, experience, ageand attitude are going through the selection process. In process of selection series of question isasked by the panel of BOD and after selection is go for training.Purpose:Major purpose of recruitment and selection is to attract the right candidate inorganization, it is lawful function which build good image of company, applicant feel genuinefor the job offer and also feel confident about the selection process.Compensation Management:It is act which provide the monetary and non-monetary benefits to their employees fortheir jobs and duties. It’s also providing to individual for motivate them. HR department ofIKEA also design the compensation package for their employees, they consider role, extraworking hours, PF, ESIC, performance of individual. They also provide non-monetary benefitslike insurance their pet, paid tour package, medical facilities and also provide facility of pension.Purpose:The key purpose of compensation management is attracting highly capable and efficientemployees. It is also important for retain the employees in firm. They are also very important forboost up the morale and motivation of employees of IKEA. Compensation management arehelpful for2
P2- Strength & weaknesses of recruitment & selection approachesINTERNAL APPROACHESSTRENGTHWEAKNESSES1. PROMOTIONIt is a process of progression of the employeesto a higher position at a specific period.Ikea through promotion raises the morale of itsemployees which help the them to work withmore enthusiasm.The employee’s retention rate in Ikea is quitehigher as the personnel in view of thepromotion tend to remain in the company andwork hard to seek it.1. PROMOTIONThe main weakness of this method is that itdoes not introduce any new & innovative ideasin the company because no external candidateis hiredBesides this, it creates a sense of resentment inthe minds of employees for each other. TheIkea employees creates hatred among others. 2.JOB POSTINGIkea to fill its vacant seats, posts theadvertisement of the vacant jobs on bulletinboards, notice boards as well as informs theemployees through memos.The main strength of this method is that theIkea employees see a room for theirdevelopment and advancement. Apart from this, The work load of themanagers of Ikea remain less as they arealready aware of the working of the employeesand know their skills and potential.2. JOB POSTINGIt may introduce an unhealthy competitionamong the employees to secure the vacantseats.Moreover, It lacks the talent pool from whichthe new employees could be selected andtherefor limits the options of Ikea to select thebest candidate. 3.TRANSFERIt is the act of transferring the employees fromone branch to another or from one department3. TRANSFERIt has been seen that the employees of Ikeawho are being transferred to the another branch3
to other.This internal recruitment method help theemployees of Ikea to gain the thoroughknowledge of the different job and performthem efficiently.sometimes finds it difficult to adjust in itsworking environment and also face problemsin performing the different job.EXTERNAL APPROACHESSTRENGTHWEAKNESSES1.NEWSPAPER ADVERTISEMENTThe selection process of Ikea also involvesposting the job and its details in newspaper andattracting the candidates.The best advantage of this is it taps a largegeographical areas and reaches almost everycandidate.The HR managers of Ikea has the freedom todesign the posting on the basis of budget andhave various options.1.NEWSPAPER ADVERTISEMENTThe most important weakness that Ikea faces isthat this method limits the number of peoplewho read a particular newspaper. For example-Ikea posted its vacancy in Bharat timestherefore it reached only that candidates whoreads this newspaper. 2.CAMPUS PLACEMENTIkea visits various management and technicalinstitute to hire a bunch of students who havecompleted the education or currently pursuing.It allows the company to hire the highly skilledand talented students.It creates a massive talent pool of thecandidates and Ikea have the wide opportunityto select from that pool 2.CAMPUS PLACEMENTIkea hiring the fresh graduates encounters amajor problem of providing training to themwhich cost them a huge amount.Secondly, They are not sure whether they willstay in the company for long or not.3.EMPLOYMENT AGENCIESIkea outsources the selection process to3.EMPLOYMENT AGENCIESIkea pays a great amount of fees to the4
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