Human Resource Management Assignment Solved - JP Morgan
Added on 2020-10-22
15 Pages3794 Words92 Views
Human resource management
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Purpose and functions of HRM, Hard and soft HRM approaches for planning and resourcingin global organization..................................................................................................................1Strengths and weaknesses of different approaches to recruitment and selection........................2TASK 2............................................................................................................................................4Benefits of different HRM practices for employer and employees............................................4Evaluation of effectiveness of the different HRM practices.......................................................5TASK 3............................................................................................................................................6Importance of employee relationship which influence HRM decision-making.........................6Employment legislation and its impact on decision-making......................................................7TASK 4............................................................................................................................................8Job description and person specification.....................................................................................8CONCLUSION..............................................................................................................................10
INTRODUCTIONHuman resource management refers the process which manages and motivates employeesin an organization. The main important function of HRM in a company is hiring, training andmotivating employees for achieving the organizational goals. JP Morgan is an investmentbanking institution which is founded by J.P. Morgan in 1871. Headquarter of this firm is in NewYork city. Study shows the purpose and roles of HR functions. Report will discuss on theeffectiveness of employee relationship, employee’s engagement and employee flexibility(Adjibolosoo, 2018). It shows different HRM approaches of planning, recruitment and selectionin organization which increase morale of employees and focus on labor satisfaction. With the useof HRM practices, manager motivates employees which lead higher productivity andmaximizing profits.TASK 1Purpose and functions of HRM, Hard and soft HRM approaches for planning and resourcing inglobal organizationHuman Resource management refers the process of recruiting, hiring, and selecting ofemployees Of organization. The main purpose of human resource management is to maximizeprofits of firm by motivating employees for effective work. To provide the best facilities like:healthy and safe working environment, training and motivation for making them valuable to theorganization (naloui, 2018).There are some purpose and objectives of HR assistant of JP MorganTo help the firm to reach its goals.To achieve and increase morale amongst employees.To make effective utilization of human resources within the organisation.To increase and enhance employees work efficiency to perform the better job.To provide the best and experiences employees to organisation by hiring the rightpeople.Functions of human resource managementThe success of any organisation mainly depends on HR functions. HR assistant playsmany roles and function in JP Morgan firm that include planning, organizing, controlling,compensation and benefits, employee and labour relationship etc.1
Planning: The main function of human resource assistant is to make the plan. It is thesystematic activity of staffing function of HR department. In planning HR assistant make theplan of number of workers with the required skills and make them available when they arerequired or needed.Human resource development: The another function of HRM is training anddevelopment of the employees by the career planning. After recruiting employees, HR assistantof JP Morgan firm identifies the need of training of the specified employees. The main purposeof training and development is to improve the skills and knowledge of employees. It gives thecareer planning to employees which help them in determining the career goals and then try toachieve them (Berman and et.al., 2019).Safety and health: In this function, HR assistant provides the best working environmentby making the organisation free from conflicts. It leads to better performance, increaseproductivity and effectiveness of the organisation in the long run.Hard and soft HRM approach for planning and resourcingHard HRM approach treat and focus on employees as resources that is why it is calledhard HRM. In this type of approach employees work for minimum pay. It does not allow theiremployees in their decision-making process, it just want effective work from them. Theimportance of hard HRM approach is quicker process as it does not involve their employees indecision-making process. Disadvantage of this approach is it dissatisfy employees and decreaseemployees morale (Boon and et.al., 2018).Soft HRM approach, treats their employees as individuals in an organization. Firm givemore priority in this type of approach. This approach concentrate on the needs and requirementsof employees. The advantage of soft HRM is it reduces work-place stress, increases employeemorale and maintain skilled employees within organisation. The disadvantage of this approach isit is time consuming process in consultation and discussion.JP Morgan firm uses soft HRM approach for their employees. They give more preferenceto their employees by focusing on their roles, rewards. They try to fulfil their all needs and adoptthe ways of motivating them for better performance and higher productivity.2
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