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Human Resources Management : Assignment

   

Added on  2020-10-22

18 Pages5018 Words330 Views
Human Resourcesmanagement

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Purpose and functions of Human Resources Management...................................................1P2. The strength and weaknesses of different approaches to selection and recruitments...........4TASK 2............................................................................................................................................5P3 Benefits of HRM practices for both the employee and employer in Canary Wharf firm......5P4 Effectiveness of different HRM practices that raise organisational profits and productivity......................................................................................................................................................7TASK 3............................................................................................................................................8P5. Importance of employee relation in respect to influencing HRM decision making.............8P6. Key elements of employment legislation and impact on decision making process of HRmanager.....................................................................................................................................10TASK 4..........................................................................................................................................11P7. Application of HRM practices in the work.........................................................................11CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15

INTRODUCTIONManagement of all human resource activities is an important process for everyorganisation. In this process, it includes hiring, recruiting, training and development programs. Itis a strategic approach to manage organisational functions effectively (Armstrong and Taylor,2014). This report is based on JP Morgan, a US based company which also has a large presencein United Kingdom and provides various services like private banking, asset management,investment banking and many more. In this report, it will include purpose and the functions ofHRM that are applicable to workforce planning and resourcing at the work place. It will alsoprovide the strength and weaknesses of different types of recruitment and selection approaches.Further, it includes the benefits of various HRM practices for employees and employer as well aseffectiveness of HRM practices. Furthermore, it contains employee relations and elements ofemployment legislation and lastly, it will cover the application of HRM practices. TASK 1P1. Purpose and functions of Human Resources Management.Human Resource Management (HRM) is a term used to describe formal systems devisedfor the management of people in an organisation. Human Resource management is all aboutenhancing or increasing the performance of employees within organisation. The HRM practicesin JP Morgan Firm is also very effective and effectual (Bailey and et.al., 2018). There are variousobjectives and goals of company which can only be fulfilled by an effective practice of HRM. Itis a coordination of company's employee's to reach the goals and objectives of company, Forexample, fulfilling the needs of staffing as well as maintaining satisfactions of employees(Wilton, 2016). The scope of HRM is very broad and wide. It refers to all the activities that come underthe management of resources. Here are some activities of Human Resources Management givenbelow-Planning of Human Resource- Human resource planning means the procedure thatcompany determine the number of vacant jobs in the company. Addition to this, informationabout excess staff, shortage of staff. It is the duty of human resource's manager to deal withshortage and excess of staff.1

Job Analysis design-This is also the most important area of management of humanresources. The entire information of job in the company is identified with the help of job analysis(Baum, 2016). It is very essential that company should have complete information of each andevery employees in an organisation.Recruitment and Selection- This is one of the most essential functions of HumanResource management. On the basis of information about the excess and shortage of staff, theyprepare advertisement and publish them in newspaper. Recruitment means the number ofapplications received after the publication of advertisement (Purce, 2014). Further morefunctions and operations are conducted by in selecting and recruiting like interviews, test andvarious others. Skill Inventory – It is the essential work and scope for human resource management tofind suitable candidate for a particular job. In this process first compile a comprehensive list ofall applicants who have ideal knowledge and skills for each job. Training and Development- Training and development is also one of the most essentialpart of human resources practices. It is the duty of human resource manager to organize trainingand development programmes to enhance the skills and knowledge of employees.Performance Appraisals- In order to motivate employees, and improve theirperformance to the highest level it is also very essential that employee's performance should beencourage by giving performance appraisals.2

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