Models, Theories, and Concepts of Human Resource Management

HUMAN RESOURCE

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
Models of Human Resource Management..................................................................................3
Theories of HRM.........................................................................................................................6
Concepts of HRM........................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Human resource basically deals in managing people for achieving the better performance. It
is the strategic approach for managing the people of the company effectively which can help the
business to gain competitive advantage. This also helps in enhancing the performance of
employees so that strategic objectives can be achieved by maintaining the motivation and
satisfaction of the employees. Various functions are performed under the HRM such as employee
recruitment, performance appraisal, reward management, maintaining industrial relations etc.
Morrison is the fourth largest chain regarding the supermarkets in UK and its headquarters is in
Bradford, England (Welcome to Morrison, 2020). It deals in selling of various products like food
and drink, books, magazines, clothing etc. the report will focus on the theories, models and
concepts of HRM which helps in keeping the employees engaged and motivated which can help
in increasing the productivity and profitability.
Models of Human Resource Management
There are various models which can help in improving the practices of Human Resource
Management but the most effective and conceptual model is The Harvard Model of HRM which
considers more holistic approach to HR which leads of different levels of outcome. The Harvard
Model of HR consists of six components which are stakeholders’ interest, situational factors,
HRM policies, HR outcomes, long term consequences and a feedback loop through. The HRM
of Morrison consider all these components important in delivering the practices by implementing
certain policies which can be described as follows:
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Figure 1: Harvard model of HRM
Source: The Harvard model of HRM, 2020
The stakeholders’ interest
The HR of companies like Morrison needs to balance the interest of all the stakeholders.
The interests analyse the significance of the trade offs which can be considered between the
owners of the company and its employees. The interest groups can also consider among the
interest groups. This becomes the challenge of the HR of Morrison as the company has many
stakeholders whose interest must be managed which are owners, employees, suppliers,
competitors, customers and many more (Babalola, Patience and Afolabi, 2018). If their needs are
not satisfied, they can withdraw their contribution from the company so they need must eb met
and this becomes the major responsibility of HR of Morrison.
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