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P4 Effectiveness of human resource practices in increasing productivity and profit

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Added on  2021-01-02

P4 Effectiveness of human resource practices in increasing productivity and profit

   Added on 2021-01-02

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HUMAN RESOURCEMANAGMENT
P4 Effectiveness of human resource practices in increasing productivity and profit_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1P1 Purpose and functions of human resource management........................................................1P2 Strength and weakness of various approaches to recruitment and selection ........................3TASK 3 ...........................................................................................................................................4P3 Benefits of different HRM practices for both employee and employer ................................4P4 Effectiveness of human resource practices in increasing productivity and profit.................5TASK 3............................................................................................................................................6P5 Importance of employee relation in influencing HRM decision making..............................6P6 Key components of employment legislation..........................................................................7TASK 4............................................................................................................................................8P7 Illustration of various HRM practices....................................................................................8CONCLUSION ............................................................................................................................10REFERENCES ...............................................................................................................................1
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INTRODUCTIONHuman resource management is one of the fundamental functions of firm which playsimportant part in managing and developing employees. Contribution of this department is high insuccess and growth of company (Armstrong and Taylor., 2014). HR manager are responsible forrecruiting employees and select best one of them which best meets the defined criteria of firm.They also have the responsibility to administer training to manpower so that they enable todevelop their skills and competencies. In the present assignment, chosen organisation is ALDIwhich is leading supermarket chain that offers goods and services to customers at discountedrates. The report covers purpose as well as functions of HRM along with merits and demerits ofrecruitment and selection approach. Apart from this, benefits of HRM practices and effectivenessof these in raising profits and productivity is defined. In addition to this, key components ofemployment legislation and importance of good employee relation are also discussed in thisproject. TASK 1 P1 Purpose and functions of human resource managementHuman Resource Management is defined as a strategic approach to proper and effectivemanagement of employees so that they assist the firm in gaining competitive advantage inmarket. This department is designed for the purpose of maximizing performance of workforce aswell as organisation. HRM refers to the practice of recruiting, selecting and managing workforcewithin firm. The main responsibility of human resource manager is to ascertain requirements ofbusiness enterprise and hire right number of candidates who have excellent skills and goodknowledge. Skilled employees assists in effectively attaining goals and objectives of companyand leads it towards growth and success. One another aspect that is associated with thisdepartment is training and development of workforce. Managers of firm design trainingprogrammes as per the skill requirement of manpower and administer them so that they enable todevelop their knowledge and increase their potential (Berman and et. al., 2012). This helpsworkers in performing their duties in appropriate way and attaining objectives and targets ofcompany. In ALDI, manager are responsible for ascertaining need of employees within firm andthen do proper workforce planning in order to high right numbers of workers within company.Candidates are selected as per their skills and abilities and assign them right position which
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enables them to perform their duties in well manner. Training session is also conducted by themso that employees get opportunity for enhancing their knowledge and skills. It also supports inincreasing their motivation and workforce feel satisfied with that and work towards attainment ofobjective of company (Boella and Goss-Turner, 2013).Functions of Human resource management: Several functions are associated with human resource management which are applicablein workforce planning. At the time of manpower planning, manager of ALDI consider 2 majoractivities which are defined below: Recruitment and selection: It is the process that every business enterprise use in order toselect skilled and talented candidates within firm. This is an important aspect that should beconsidered by manager of company when they do workforce planning. In this, manager of ALDIfirst identify employee needs of firm and then invite applications in order to fill vacant positionof firm. A definite criteria is set by them for each position and on the basis of that they selectcandidates which best meets set criteria. By this, managers have the choice to select individualfrom large pool of candidates. This helps in them in hiring best candidates who have excellentknowledge and skills. Skilled individuals helps in increasing productivity of firm and achievingits set objectives and targets. Training and development: In workforce planning, another activity which needs toconsider by manager of ALDI is training and development of their workforce. In this, the firstand foremost responsibility of manager is to determine skill needs of manpower. This helps themin designing appropriate training programme which assist in developing all the skills that arerequired in order to perform a particular task in an effective and better manner. By providingtraining programme, employees get an opportunity for increasing their potential and developingtheir knowledge regarding various aspects of other areas. Training provides an ability tomanpower for performing their responsibilities in appropriate way and attaining predeterminedobjectives of company (Boselie, 2010). It assists in maximising profits and productivity of firmand leads it towards long term sustainability in market. The activities mentioned above are considered by manager of ALDI when they areplanning of workforce. Proper planning helps them in hiring right number of employees withinorganisation which ultimately assists in attaining goals and targets of company.
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