Human Resource Management: Purpose, Functions, and Practices

Human Resource
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Purpose and functions about HRM which are applied in context to workforce planning and
resourcing.....................................................................................................................................1
P2. Approaches to recruitment and selection...............................................................................2
TASK 2............................................................................................................................................3
P3. Benefits of different HRM practices for both the employer and employee..........................3
P4. Effectiveness of HRM practices in terms of raising organisational profit and productivity 4
TASK 3............................................................................................................................................5
P5. Analyse the employee relations in respect to influencing HRM decision-making..............5
P6. Identify the key elements of employment legislation and the impact of HRM decision-
making..........................................................................................................................................5
TASK 4............................................................................................................................................6
P7. Illustrate the application of HRM practices in a work-related context, using specific
examples. ....................................................................................................................................6
CONCLUSION................................................................................................................................9
REFERENCES ...............................................................................................................................9

INTRODUCTION
Human resource management is said to be recruiting and selecting of employees,
evaluation of employee performance and it manages the people to reach a better performance
(Brewster and Hegewisch, eds. 2017). For enterprise, HSBC Bank Plc is a multinational
company that provides a financial and banking services. It offers like loans, investments and
insurance services, online banking services and serves their services to different markets. There
are around 40000 people work in UK and it was founded in 1865.
The report covers some purposes and scope related to human resource management. It
also includes key elements of human resource, factors affecting and various practices are applied
in this organisation.
TASK 1
P1. Purpose and functions about HRM which are applied in context to workforce planning and
resourcing
Overview of company:
HSBC Bank Plc gives various financial services like online banking facility, loans,
insurance services, deposit money etc. The mission statement are they provide a wide range of
services to the customers which includes personal banking services, online banking. There are
40000 people around in UK and it constituted by 3rd march 1865. The objectives are to create a
better growth and helping for those people who accomplish their expectations.
HRM:
The concept of human resource management is all about hiring and selection of
employees and its a activity to deal all people in firm to attain better performance. In case of
HSBC Bank Plc, HRM works in bank is to recruit and select people, check the employee
performance and maintain record of employees.
Purpose of HRM for planning workforce and employee resourcing:
 Compensation: According to this purpose, it is all about employee money that accepted
by providing several services to his employer (Brewster and et.al 2016). It helps
management to inspire employees work and better effectiveness of entity. With context
of HSBC Bank Plc, it shows the employee income in respect of workforce planning to
sort of wages and welfare and to achieve its objectives of firm.

 Employee Benefits Program: In this purpose of HRM, organisational members analyse
the information to acquire a better benefits which provide satisfactory amount for
workers. With context of HSBC Bank Plc, Several benefits are included like health
issues, retirement plan and many more.
Functions of HRM within planning workforce and employee resources:
 Employee Hiring and Selection: In this function, HRM involve in this process to
searching those people who are suitable and potential candidates for this job position.
With context of HSBC Bank Plc, HRM helps to hiring and recruiting of candidates and
evaluate the employee performance to achieve goals and objectives of the entity.
 Performance Evaluation: In this function involves to appraise employee performance
and skills for their job requirements (Cleaver, 2017). In case of HSBC Bank Plc, it helps
to make decision making in respect of workforce planning, employee promotions,
transfers, motivations, resourcing and many more.
P2. Approaches to recruitment and selection
Recruitment
The concept of recruitment is to hiring the potential candidates for a specific job
responsibilites. In HSBC bank holding consists of various approaches are as under:
Internal Approach: According to this approach, internal recruitment defines hiring
potential candidates within the firm. With context of HSBC Bank Plc, managers uses various
aproaches in internal recruitment are promotions, transfers and many more. Strength of internal
approach are reduces time duration, change employee conflict, rigid appreciation and many
more. Weakness of internal approach are restricted internal resources, limited quality.
External Approach: In this approach defines where a firm recruit and select right people
outside the enterprise (DeCenzo, Robbins and Verhulst, 2016). In case of HSBC Bank Plc,
managers uses several approaches of external recruitment are workers recommendations, entity
website, business transactions, campus position. Strength of external approach are best superior
candidates, better rivarly, enhanced transition rate and many more. Weakness of external
approach are risk is high, time overwhelming, narrow understanding about the firm, interior
conflict with present workers.