HRM Practices in Organization

Human Resource Management

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................1
1. What it's HRM....................................................................................................................1
2. Strategic HRM ...................................................................................................................4
3. What is Hard HRM and Soft HRM....................................................................................7
4. About Global Context.........................................................................................................8
5. What it's recruitment and selection? about weaknesses and strengths.............................10
6. Internal and External recruitments, advantage and disadvantage....................................10
TASK 2..........................................................................................................................................11
P3 Benefits of different HRM Practices within organization for employer and employee..11
P4 Effectiveness of different HRM practices to raise the profit and productivity...............12
TASK 3..........................................................................................................................................13
P5 Importance of employee relations in respect to influence HRM decision-making.........13
P6 Key elements of employment legislation and its impact on decision-making................14
TASK 4..........................................................................................................................................14
P7 Application of HRM........................................................................................................14
CONCLUSION .............................................................................................................................15
REFERENCES..............................................................................................................................17

INTRODUCTION
Human resource management is a strategic approach to manage the organization's
activity in an effective way. It aid to support the workers in order to gain the competitive
advantage. HRM refers as a department of the company which designs a policies to maximise the
employee performance with an objective to reach the goals. The HR is responsible to develop the
employee benefits policies, recruitment, training and development, performance appraisal and
rewarding (Hendry, 2012). They ensures that organization can achieve its targets successfully
through hiring the efficient people who are most qualified to attain the prosperity. The report is
based on the JP Morgan Firm which is situated in central London that analyses the HR practices
for the employee engagement and to sustain the business in competitive advantage. To
accomplish these practices the report comprises of HRM definition, strategic HRM, hard and soft
skills of human resource managers, strength and weaknesses of recruitment and selections along
with internal and external approaches. In addition it also includes the effective HRM practices to
raise the organization's profit and productivity, importance of employee relations, employment
legislation and application of HRM.
TASK 1
1. What it's HRM
Human resource management is a term that describes the formal system of the
management within the a company. In JP Morgan Firm the human resource management put
their effort to manage the employee in an effective way that they can be utilise as the most
important resources to increase the production that can bring the profit to the organization.
Purpose of HRM
HRM is a separate department in every company that has purpose to conduct such
services for the benefit of certain firm. In JP Morgan the human resource professional has core
purpose of human resource management that are as follows -
 Establishing culture – One of the most important purpose of HRM is develop a good
working environment in the organization because it is essential to provide a good
environment to the employees through maintaining decorum of the company (Bratton and
Gold, 2017).
 Legislation – The human resource management develops the rules and laws for a JP
Morgan that are followed by the employees in any circumstances. This makes the
working process smooth and effective that's why the organization can attain the target.
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 Internal customer management – HR officer has several purposes within JP Morgan it
encourages and motivates the employees because the productivity of the organization
depends upon the quality of its workers (Brewster and Hegewisch, 2017). The human
resource manager defines and implements the policies and processes to recruit the quality
of the workforce by attracting them. It is directly related with the company's financial
performance and according to that they forms some policies for employee compensation,
benefits and team structure. HR establishes internal customer relationship to serve the
best quality of products and services.
 Metrics – Human resource professionals needs to maintain an interaction with all the
levels of an organization because a manager aligns all the activities within an
organization. The HR management of JP Morgan analyse the operations and activities of
the firm and then it needed it hires the employees to attain the goals and objectives. They
also measures the strategic matters such as budget plans and performance goals of the
company in order to embrace the strength and weaknesses of the company. It needs to
recognise to estimate the requirement of human resources which can provide the quality
work for JP Morgan.
Functions of HRM
The human resource management has some specific function in JP Morgan firm which
support to the growth of the company. The functions are as follows -
 Recruitment and selection – The HR of JP Morgan can recruit the candidates the which
are qualified according to the job role. It is process of attracting, screening and selecting
potential aspirants according to the designation job requirements. Recruitment attracts
the candidates and encourage qualified applicants to serve the best.
 Maintaining good working conditions – It is a one of the major responsibilities of
human resource management to develop a good working environment at the workplace.
They encourages and motivates the workers of the company to enhance their performance
with increasing productivity (Armstrong and Taylor, 2014). It is important because the
employees are the main source of the firm to generate profit and therefore, the HR forms
a system with a financial and non- financial benefits for the employees that can make
make a strong relationship between the organisation and subordinates. This enhances the
job satisfaction of the employees and motivates them to work efficiently and effectively.
 Training and development – Training and development has a significance for human
resource management because it is an effort to amend the present and future performance
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of the employees in JP Morgan firm. Training and development improves the ability of
the employees through increasing their knowledge and skills.
 Managing employee relations – Employees are the major pillars of an organization and
they are foremost resources that performs the activities to attain the goals. Management
needs to organize such activities that can be helpful to know an employee on personal
and professional level (Briscoe, Tarique and Schuler, 2012). JP Morgan should organize
the events which can boost up the relationship between the employer and employee.
Roles and responsibilities of HRM
The roles and responsibilities falls in to three major categories such as staffing, employee
compensation and designing or defining the work. Through all of these three responsibilities they
fulfil the purpose of human resource department role at JP Morgan firm as they contributes to
increase the productivity and profit by optimizing the effectiveness of employees. Along with
these there are some other roles and responsibilities that are mentioned as :
 Payroll management – Human resource management look after the compensation and
benefits and it conducts the research to analyse the salary trends and pay practices in the
current market for the formulation of strategies and compensation plans. It prepares the
strategies for provident fund, gratuity, medical insurance, tax deductions,
reimbursements, bonus, incentives, etc. All of these are covered in pay roll and modifies
according to the government rules.
 Conflict resolutions – In JP Morgan firm there are different types of people who came
from diverse background, education qualification and culture. Because of that there are
chances to arise conflicts among the employees. It is a duty of the human resource map
the solutions of the problems that has the possibility to rise between the employees and
employer (Daley, 2012). The managers ensures that there is no discrimination among the
employees and none of the activity of the organization will become a reason of employee
disappointment.
 Appraisal and performance management – Human resource management timely gives
appraisals to the employees according to the policies of JP Morgan. In order to give
appraisals they evaluates the performance of the employees, feedbacks and suggestions
then they generate the reports and report to the administrative authority and then
promotes the employees. This aid to support the employees through motivating them to
put a step forward to accomplish their goals along with the firm's goals.
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