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Human Resource Management Assignment - HSBC bank

   

Added on  2020-10-22

13 Pages4099 Words377 Views
HUMAN RESOURCEMANAGEMENT

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1P.1 Purpose and scope of human resource management to achieve objectives..........................1P.2 Strengths and weakness of recruitment and selection methods ...........................................2P.3 Benefits of personnel practices for employer and employee................................................4P.4 Evaluate effectiveness of different HRM practices in terms of raising productivity andprofits..........................................................................................................................................5TASK 2............................................................................................................................................6P.5 Importance of employee relations in influencing HRM decisions ......................................6P.6 Key elements of employment legislation and their impact on HRM decision making........6P7. HRM practices in work related context................................................................................7CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11

INTRODUCTIONHuman resource management is the management are the management of human andfinancial resources in the firm. They includes different functions such as planning, organizing,directing and controlling etc (Banfield, Kay and Royles, 2018). Hence through this they can earnmore revenues and they can increase the market share. Through this they can easily expand theirbusiness and can maintain good reputation in minds of all people and in the market. Projectdescribes about the HSBC bank that provides financial to their customers. It was found in 1865in U.K. Project describes about the purpose and scope of human resource management so thatfirm can easily accomplish the objectives. It further explains about the effectiveness of keyelements of human resource management in the firm. It also describes about the internal andexternal factors which can affect personnel management including the employment legislationetc. It also explains about the application of humans resource management in work relatedcontext. TASK 1 P.1 Purpose and scope of human resource management to achieve objectivesThere is different purpose and scope of the organization. This is crucial so that firm caneasily accomplish their objectives. So hence objectives of HSBC bank is described below:Operative functionsRecruitment: In this firm selects talented and intelligent workers in the organization.Through this they can manage all tasks and activities in a better manner. Hence they can easilyaccomplish their objectives. This leads to successful running of the organization. Through thisthey can easily achieve their goals. Training and development: Manager organize various training seminars so that allemployees can get appropriate training for staff members. Through this they can increase theirKnowledge and they can handle all activities and tasks in better and effective manner. Thus theycan easily accomplish their targets. Performance appraisal: HR manager can check performance of staff members that theyare achieving their targets or not (Bratton and Gold, 2017). Rewards are given to employees ifthey had achieved their targets and this highly motivates employees to perform better . Thus theycan give good results. Managerial functions: 1

Planning: HR manager can create different policies and strategies so that they can doplanning of various other activities and tasks. Hence all employees can be instructed to completetheir activities. Thus all task can be easily completed in time and thus all staff members caneasily finish their activities in time (Brewster, 2017). Organizing: HR manager give various resources to all staff members sop that they cancomplete their activities in minimum time. Through instruction and guidance received byemployer all employees can perform all activities in time. Directing: It is the process through which manager motivates and give instruction to allemployees. Through this they can easily accomplish various activities and thus they can easilytheir accomplish various tasks. Through their guidance they are motivated and they give bestoutcomes. Controlling: Controlling is the process through which performance of all employees arecontrolled and thus they can easily accomplish their objectives. Standard performance iscompared with present performance. Manager take corrective steps so that performance ofworkers can be improved. Functions of HRM:Reduces employee turnover: HR manager tries to increase the employees and take stepsso that employees do not eave their jobs. They solve all their issues and give rewards to all staffmembers so that they can give good results. Decrease conflicts: HR manager tries to reduce the disputes and conflicts. Hence as aresult they can perform well in firm. Thus they can give good results. Recruitment and termination: Company can take steps to recruit educated employeesand then they can also take steps to terminate the employees. Thus these two functions arecrucial in the firm. P.2 Strengths and weakness of recruitment and selection methods There are advantages and disadvantages of various sources of recruitment and selectionmethods (Brewster, Brookes and Gollan, 2015). So strengths and weakness of various sources inHSBC are-Internal recruitment: It is the process through which employees can be selected and they can be selected fromwithin the company. Thus strengths and weakness are described below:2

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