Benefits of HRM Practices to Employer and Employee

This document discusses the purpose and functions of HRM, strengths and weaknesses of recruitment approach, benefits of HRM practices to employer and employee, and the effectiveness of HRM practices in raising organizational profit. It focuses on the case of JP Morgan, a multinational banking corporation headquartered in London.

Human Resource
Management

Contents
INTRODUCTION.....................................................................................................................................3
TASK 1....................................................................................................................................................3
P1 Purpose and functions of HRM....................................................................................................3
P2 Strengths and weaknesses of recruitment approach.....................................................................4
TASK 2....................................................................................................................................................6
P3 Benefits of various HRM practices to employer and employee....................................................6
P4 Effectiveness of HRM practices in raising organizational profit..................................................6
TASK 3....................................................................................................................................................7
P5 Importance of good employee relation........................................................................................7
P6 Elements of employment legislation and influence upon HRM decision making.........................9
TASK 4..................................................................................................................................................10
P7 Application of HRM practices in work related context..............................................................10
CONCLUSION.......................................................................................................................................13
REFERENCES........................................................................................................................................14

INTRODUCTION
Human Resource Management is identified as a strategic approach to effectively
manage manpower of organization so that they assist business in gaining high competitive
advantage. Responsibilities of HR administrator falls into 3 main areas, i.e., staffing, defining
work, employee compensation & benefits (Baluch, Salge and Piening, 2013). Human
resource professionals are responsible for hiring, interviewing, screening and selecting
workforce. They also handle payroll, benefits, training and employee relations. Overall
purpose of human resource is to ensure that company is able to attain success by people. In
the present assignment, given organization is JP Morgan which is an American multinational
banking corporation headquartered in London. The assignment covers different scope and
purpose of HRM applicable to work force planning and resourcing of firm along with
strengths & weaknesses of recruitment and selection process. Apart from this, benefits of
human resource management practices to employer and employee & its effectiveness in terms
of increasing productivity and profit of company is also included. In addition to this,
significance of employee relation, key elements of employment legislations as well as
application of HRM practices are discussed in this project.
TASK 1
P1 Purpose and functions of HRM
Human Resource Management: It is a formal key approach that includes defining
strategies, programs and different plans by concentrating on necessities and prerequisites of
its manpower. Its important areas of working is related with hiring of representatives,
managing them, defining pay design and to assign work to them as per their abilities and
capacities. JP Morgan is a financial organization in UK that offers unparalleled client base
and leadership in entire range of financial service products. The key component behind the
productivity of company's task and high quality services is its capable representatives that
endeavor to work to administer clients with satisfaction. In this manner, organization pays
enormous concentration to perceive the endeavors of its staff by framing and executing
different plans and policies that provides benefits to employees. Additionally organization
ensure that appropriate workforce planning ought to be followed by business. Manpower
planning is a method in which supervisors align needs of its workforce to the objectives that
they are required to achieve. The basic role of HRM division of JP Morgan is to guarantee
that right individual is hire at right employment place so that working can be done
effectively. Specified beneath are some functions that are to be trailed by HRM division of JP
Morgan.
Recruitment and Selection: It frames the most essential function of HRM department
of JP Morgan. The directors by making utilization of different internal & external sources of
recruitment that ensures the selection of most appropriate in terms of their capability and
capacities (Functions of HRM, 2018). HR administrators give significant time for conducting
job analysis as well as preparing job specification keeping in mind the end goal to coordinate
KSA requirements for candidate to have specific job profile. For workers of JP Morgan it is
fundamental to know about different banking services, IT & analytical bac alongside
experience to deal with different sorts of customer.

Training and development: It is one of the imperative function of HRM division of
JP Morgan which helps in developing skills and capabilities of workforce so that they
provides high competitive edge to company in market. HRM professional of JP Morgan leads
a need evaluation programme to get proper understanding about needs and requirements of
their workforce. In this way, it encourages administrators to build up a suitable training
program for their new candidates and for existing workers. For example, an employee in JP
Morgan is required to have good command over their correspondence and relational aptitudes
with the goal that they can without much of a stretch handle clients of different backgrounds
and can influence them to get their banking services (Bloom and Van Reenen, 2011).
Likewise they are essential to have great logical and IT learning to deal with different
software. Consequently, to influence its group to be knowledgeable with such aptitudes to
organization conducts different professional training and short programming learning courses
for its workers so they can productively deal with customers and their issues.
Hard and Soft Approaches of HRM:
Hard HRM Approach : As per this approach, employees are treated as machines for
the banking business that are to be overseen and controlled in order to achieve association
targets with greatest yields inside constrained time span with least wastage. In this model,
administrators follow administrative leadership style where in representatives are bound to
take after directions without making any inquiries. The directors keep up least level of
correspondence with its staff and do exclude them or ask sentiment before taking and
executing any choice. For example contrarily inspiration includes workers been debilitate to
get chopped down in motivations in the event of non accomplishment of targets.
Soft HRM Approach : As per this approach, employees are considered to be the vital
part of organization or as most significant assets that helps company in attaining its
objectives and getting high competitive advantage in market. In this approach administrators
keep up a two way communication with its representatives and urges them to be participative
in basic leadership process. Administrators endeavors to give flexible workplace to its
workforce where in they feel great to share their thoughts, concern, sentiments without being
dreaded of the results. For example, acknowledging representative giving most astounding
execution as star entertainers before entire staff (Cox, Arnold and Tomás, 2010).
In case of JP Morgan, firm believes in giving healthy and flexible workplace and job
satisfaction to its representatives. By applying delicate HRM approach organization give a
few chance to its representatives to participative and to share their thoughts, issues and
sentiment about doing any task betterly. This assistance association to make its workforce to
feel their significance in different business exercises that actuate them to work with full
energy and devotion to achieve their allocated undertakings.
P2 Strengths and weaknesses of recruitment approach
Hiring process frames the center elements of HRM that is related with enlisting and
choosing most suitable worker in setting to capacities and capabilities necessities of a
particular employment opportunity in an association. Recruitment can be portrayed as the
methodology of pulling in, short posting and picking most appropriate contender for a
prospective employee meeting. Choice on other hand alludes to movement of taking meeting
of the few picked applicants and to assess their abilities and information by directing different

inclination and other conduct tests. JP Morgan is one of the main private budgetary
establishment to give work openings in London. Likewise it is biggest innovation boss in
Scotland. Consequently, it gives careful consideration amid its hiring procedure with the goal
that best and most skilled representative is chosen as it is to straightforwardly impacts
association's methodologies to accomplish its long haul and short terms targets in most
productive way. Specified beneath are the two sources of recruitment & selection that are
considered by JP Morgan while procuring a candidate:
Internal Sources:
In includes enlisting applicants inside JP Morgan firm by urging them to apply for
work opening. It incorporates sources like transfers, promotions and so on (Caligiuri, 2014).
Promotion alludes to moving of a representative from exhibit work position to another
higher activity profile. It includes increase in pay, renown and in addition in parts and
obligations.
Transfers: it incorporates moving a representative starting with one area then onto the
next comparable or diverse employment position in same area or another city, state or nation.
Advantages of internal source of recruitment:
• It helps firm in upgrading worker assurance and unwaveringness towards firm
• Also, it is a cost effective source of recruitment as it includes less time, less
endeavors and less cost to be bring about by firm on leading acceptance, preparing
and improvement and other procuring related process for new joiners.
Disadvantages of internal recruitment source:
• Recruitment & selection of representatives through inside sources are for the most
part asserted to be one-sided or in view of bias.
• Also, it lowers down association's chances to choose from substantial number of
skilled and talented candidates thereby denying it from benefits of new ability
and new methods for doing things and so forth.
External Sources:
It includes enrolling most capable and potential individual most reasonable for a job
profile from outside firm. It incorporates sources like employment agencies, walk in
interview, placement agencies and so forth.
Advantages of external recruitment source:
• Hiring from outside organization help firm to choose most appropriate individual
in regards of capability, learning and capacities that precisely coordinates work
determination of an opportunity (Conesa-Zamora and et. al., 2011).
• Also, new competitors carries with them new modern bits of knowledge, new
points of view and aptitude that encourages organization to get new openings and
handle challenges successfully by embracing unmistakable procedures to confront
them.
• New joiner can easily be adapt according to organization's approaches and
hierarchical culture without getting much obstruction frame them.

Disadvantages of external recruitment:
• A new representative sets aside longer opportunity to get balanced with
organization's strategies, working society, techniques. Likewise, organization to
need to bring about use on representatives acceptance and preparing and
advancement program in order to get come back from them. (Daley, 2012)
TASK 2
P3 Benefits of various HRM practices to employer and employee
Keeping up good employer employee relationship shapes the way to accomplishment
and success for a firm. It is on the grounds that strong relations helps in building more
gainful, more proficient giving less odds of contention and so on. JP Morgan applies different
HRM rehearses in its activities to improve its efficiency and usefulness. The absolute most
critical advantages of HRM rehearses connected by HR division are said underneath:
Flexible working hours: JP Morgan being one of the main business age firm give
work to various representatives. In this manner, to deal with necessities and desire for its
workforce, JP Morgan gives the office of adaptable move timings to its representatives. This
urges staff individuals to keep up their social lives with family and companions. It in this way
lessens their feelings of anxiety and along these lines start energy and excitement in
representatives which brings about higher work effectiveness, efficiency, work fulfillment
and less turnovers.
Training and development: It shapes one of the basic practices that are attempted by
the HR administrators of JP Morgan firm to keep up the abilities of its workforce.
Supervisors with help of leaders survey proficient prerequisites of its staff by determining
their present levels of aptitudes, information and capacities. By dissecting this directors
outline legitimate preparing and improvement program for its staff. This advantages
organization in diminishing turnover and pick up edge over contenders as prepared workforce
end up capable to finish their doled out assignments with higher level of effectiveness in
dispensed era.
Performance Appraisal System: Managers of JP Morgan to guarantee viability of its
training program frequently screens and find execution of its staff. Organization takes after a
concentrated execution examination framework where trough nearly oversees, reports and
dissect the execution of every one of their worker and contrast their genuine work execution
and the normal execution in light of the pre set quality and work measures (Flamholtz, 2012).
It benefits representative and firm in following way:
• It urges workforce to accomplish their long haul targets and objectives within
specified time.
• It encourages managers to get knowledge of key areas of change of every one of
its representatives and to frame appropriate training program to enhance their
coordination with others and work effectiveness.

P4 Effectiveness of HRM practices in raising organizational profit
HRM practices that are inferred by JP Morgan helps organization to assemble a
capable group that is equipped for taking care of various sort of clients. The workers by
effectively imparting advantages of items and administrations of organization convinces
customers to profit different managing an account and budgetary administrations of the firm.
JP Morgan by making applying different HRM works on including preparing and
advancement, execution evaluation. Adaptability working hours and so on ensure that every
individual working in organization is proficient, all around prepared and is happy with work
he/she is doing. Along these lines it contributes in organization achievement and
development as it prompts achievement of focuses inside timetables with higher execution
standard and greatest results (Fulton and et. al., 2011). Every one of these practices add on to
upgrading the adequacy of firms profitability concerning example, preparing and
advancement process connected by JP Morgan firm actuate certainty and skills in its workers
that rouses them to take higher difficulties and greater duties in this way creating future
administrators. Saving money and monetary area expects individual to have successful
relational abilities and IT and systematic information that is basic and fundamental while
managing customers from various foundations and requirements and observations.
Another case of positive impact of these HRM rehearses on firms development can be
investigated from another routine with regards to adaptable working hours that organizations
give to its workforce. By giving tolerance in picking their appropriate day move hours
timings. This empowers individual to keep up work life adjust that causes them to decrease
their work weight and make them more engaged and devoted towards their work. JP Morgan
make utilization of certain HR rehearses that are specified underneath:
• Payment and reward administration: Rewards shape a standout amongst the best
inspirations for representatives that prompt them to put their earnest attempts in finishing
their appointed errands. JP Morgan makes utilization of different money related and non
financial like reward, advancement , motivating forces and so on to energize and perceive
endeavors of their star entertainers (Meredith Belbin, 2011).
• Recruitment and Selection: Hiring process shapes the above all else procedure of any
firm. JP Morgan HR division ensure that organization have right number and right qualified
capable representatives, at right employment profile exhibited at opportune time at whatever
point required. It is of basic significance for an organization to select right hopefuls so their
abilities could be used effectively by adjusting their own objectives to that of mission, vision
and targets of the firm. Any defect or ailing in this progression could have negative effect on
the gainfulness, maintainability and efficiency of JP Morgan that further prompts high
representative turnovers, higher use of training & development programs and so forth.
• Compensation and benefits: JP Morgan by actualizing this training endeavor for
growing great and enduring connections amongst worker and representatives. It is part and
obligation of HR supervisors to guarantee reasonable compensation for every one of its
representatives that ought to be founded on their level of execution, capability and capacities
as opposed to based on any discrimination. Likewise, it is obligation of administration to
create different techniques for giving pay and advantages to their laborers to rouse them to
work with best of their capacities and devotion (McKenzie and et. al., 2012). It incorporates

plans like retirement benefits, restorative, life and family protection, lease recompenses and
so on All these strategies and projects benefits JP Morgan to build its deals and incomes and
profitability.
TASK 3
P5 Importance of good employee relation
A strong and healthy relationship among business and workforce is a key to
achievement of a relationship, as though a decent relationship is exist amongst association
and representatives, it will help in enhancing efficiency and tasks. Nature of connection
among agents and administration likewise affect the basic leadership system of human asset
administration and great relations exhibits the commitment of representatives which helps
with taking much better choices (Guest, Paauwe and Wright, 2012). Keeping in mind the end
goal to keep up sound and solid connection, executive of JP Morgan requires to consider
below defined points:
• Job rotation has a basic influence in redesigning the learning and aptitudes of laborers
and connection with other staff individuals.
• It must be guaranteed by administration to include their representatives in procedure
of decision making so they feel valuable inside association.
• Workers requires to adjust with any progressions that happens inside firm and ought
to likewise contribute in its effective usage.
With the help of above mentioned, JP Morgan can keep up strong relation with their
workforce and furthermore helps with holding them for longer timeframe. Following are
some importance of good representative relations and its effect over decisions of HRM:
• Strong and sound relations with specialists help association in settling issues properly
that exist inside firm and impact its tasks. Keeping in mind the end goal to decide the purpose
for issue, administrator can connect with their workforce and get their perspectives in regards
to the issues they confront (Knowles, Holton and Swanson, 2014).
• If organization keeps up great association with its workers than consequently, it can
expect awesome help when they have to get new changes its business exercises or activities.
• It help in making and advancing adaptable and in addition more advantageous
workplace.
• It assembles representative's confidence and further rouses them which help with
expanding its profitability and productivity. Thus, generally productivity of firm likewise gets
increments.
Some advantages of Trade Union:
Trade Union additionally called as labour union alludes to an association which involve
gathering of laborers and association leaders who are joined with a particular ultimate
objective to secure the intrigue and privileges of its individuals (Lengnick-Hall, Beck and
Lengnick-Hall, 2011). It for the most part attempt exercises, for example, contract of
transaction on pay and work contract, giving money related and legitimate advices to

laborers, tackling grievances and so forth. A portion of the noteworthiness of Trade Union are
examined underneath:
• It anchors rights and enthusiasm of specialists, as there are sure situations when
they go about as a laborer's agents who manages every single legitimate grievance
and issues for their sake.
• It is useful for a laborer as it give certain shopper advantages, for example,
reduced protection.
• It help representatives accidental to settling grievances by looking at their stress
with business.
• Give legitimate and budgetary exhortation to its representatives and furthermore
help with arranging better working condition at their workplace like events,
versatility in functioning admirably being and security benefits.
• Employees ordinarily rely on trade union for high alluring advantages and higher
wages. This outcomes in bringing down representative turnover and additionally
elevate employees enthusiasm to remain with the firm (Manroop, Singh, and
Ezzedeen, 2014).
P6 Elements of employment legislation and influence upon HRM decision making
There are some laws & legislations that are formed by government or legal authority
of UK for defending the privileges of the laborers and to shield them from encountering any
sort segregation at their working environment. JP Morgan being a famous worldwide
monetary foundation are stand to take after every one of the standards and enactment of
different nations it is having its tasks. which assist them with working in per-decided way.
Said beneath are laws which are trailed by organization :
Anti-discrimination act: According to this demonstration, similar opportunities and
equal treatment in access to business is given to workforce of both private and public division
workers paying little mind to some secured traits like race, religion, marriage, sex
reassignment, age, incapacity and sex. On account of crippled or physically tested
representatives, specialist organizations and bosses are under an obligation to make sensible
modifications in the work surroundings to beat obstructions looked by handicapped worker.
Data Protection Act (1998): It is a UK Act of Parliament principally intended to
secure organization's close to home information put away in an efficient paper recording
framework or in PCs. As per this demonstration, none of J.P. Morgan's workers are at risk to
impart secret information of organization to any outcasts or outsider without the assent or
endorsement of higher specialists (Pereira and Anderson, 2012) . In the event that on the off
chance that, any of its representatives found doing this, strict move will be made by firm
against him/her, for example, release of worker or end. Furthermore, in the event that
anybody is holding individual information for some other reason than that individual is
lawfully obliged to consent to this demonstration, in light of a few exclusions.
Health and Safety Act (1974): This enactment portrays general obligations of
businesses, representatives, providers of merchandise, contractual workers and segment
utilized at work, people responsible for work premises and the individuals who keep up and
oversee them and people all in all. As indicated by this demonstration, managers are in
charge of dealing with wellbeing, security and welfare of its representatives at work.

Moreover, if on the off chance that any unsafe substance is utilized, at that point security
measures needs to embedded for the same (Vo and Stanton, 2011).. Likewise businesses are
additionally at risk to give essential data, preparing or direction to specialists.
Race Relation Act (1965): Under this demonstration, organization isn't at risk to
segregate among representatives on the ground of race, shading, national or ethnic roots. The
demonstration made it a criminal offense if any organization decline to utilize hopeful simply
because of its nationality or religion. In the event that any individual is having lawful
working grant of UK, at that point he/she is at risk to join the association or apply for
winning opening for work in the organization.
Employee Relation Act (1999): This demonstration render a legitimate structure for
both worker and businesses to commonly arrange and comes into an assention whose terms
and conditions are commonly chosen by the two gatherings ( Wright and McMahan,2011).
Grievances dealing with is principally thought about under this demonstration and managers
guarantee to convey most ideal administrations.
Minimum Wage Act (1998): Under this act, UK Government makes a lowest pay
permitted by law all finished United Kingdom. As of late, it has been announced by them that
from first April 2018 every hour £7.83 compensation is given to laborers matured more than
25, £7.38 every hour is given to representatives matured between 21 to 24, and £5.90 every
hour is given to specialists matured between 18 to 20. Each organization is obligated to
register representatives pay-move based on these arrangements. These are the base wages that
each worker is at risk to get as per his/her age gathering (Vörösmarty, and et. al., 2010).
TASK 4
P7 Application of HRM practices in work related context
5 Star Hotel receptionist training
Training title/ Workshop- Date- Time-
Location Trainer
Anticipated
Participants
Activity Anticipated time Procedure Equipments
Introduction
Objective or purpose
of Training
a)
b)

Warm up
Important Content
& points
Job Advertisement
Business lecturer post in UCL
Qualifications
 Required a MBA graduate from the stream of Finance
 Team building & team leading skills
 Proficiency in Communication
 Necessary to be efficient in management quality
Experience: All individuals applying for post of Business Lecturer in UCL are required to
have at least 4 years of experience in teaching in a well established institution
Date and time period of submit postulation
Interested people are required to send their resume with other necessary documents at
firm’s website. last date of sending applications with all requisite documents is 07-08-2018.
Contact No: 5667789
Website: www.ucl.com
Job specification
Qualification Compulsory to be graduate in health & social
care sector from renowned institution.
Required to have minimum 4 years of
experience in any industry related to service
sector.
Experience Compulsory to have minimum 2 year of
experience in nursing from government
authorised Health &Social care sector.
Area of expertise Required to have general medical knowledge &
skills related to exploratory check-up.
Other qualities Should have strong communication &
interpersonal skills to handle issues of patients.

Should be able to identifying and implementing
health related program & plan of action.
Interview Questions:
 Tell something about your capability and grades ?
 Mention your strength areas or qualities that makes you appropriate for this job
profile?
 What are your lacking areas?
 Tell key responsibilities that you were taking care of in your past employment?
CV
General information
Name:
Father's name:
Mother's name:
Mobile no,:
Email id:
Key skills & qualities:
 Having advance knowledge regarding digital filming
 Experienced in working on MAC scheme
 Good learner.
Experience:
 Saddington & baynes: Worked on contract basis
 Prime portraits Ltd: Worked as trainer.
CONCLUSION
As per the above mentioned report, it has been concluded that human resource
management is a crucial aspect that contributes in improving efficiency of firm. Main
responsibility of this department is to hire skilled and competitive manpower that provides
competitive edge to company. In addition there are different HRM practices that are
attempted by HR division that advantages firm to keep up cheerful relations with its
workforce. Additionally firm is liable to take after different enactments upheld by
government to ensure that get not be exploited by employers.

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Online
Functions of HRM. 2018. [Online]. Available through: <https://www.keka.com/5-major-
functions-human-resource-managemen