Human Resources Management in workforce planning and resourcing

Human Resources Management

TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................1
TASK 1 ...........................................................................................................................................1
P1 Purpose and function of HRM in workforce planning and resourcing..................................1
P2 Strength and weakness of recruitment and selection.............................................................3
TASK 2 ...........................................................................................................................................6
P3 Benefits of HRM practices for employers and employees ...................................................6
P4 Effectiveness of different HRM practices of raising of productivity and profits..................8
TASK 3 .........................................................................................................................................10
P5 Importance of employees relations influencing HRM decision making.............................10
P6 Key elements of employment legislation and its impacts upon HRM decision making.....11
TASK 4..........................................................................................................................................13
P7 Application of HRM practices in a work related context. ..................................................13
CONCLUSION .............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
Human resource management (HRM) is the process of hiring people, providing training,
compensation, developing policies and strategies to manage effectiveness in organisational
functions. HR department focus on design employee’s benefits, performance appraisal and
rewards at workplace. The purpose is to maximize productivity and effectiveness of workers in
an organization. The responsibility of HRM revolves around key aspects that is acquire, develop,
and retain talent (Armstrong and Taylor, 2014).
This present assignment is based on JP Morgan and Canary Wharf. They are commercial
and investment banking institutions and commercial estate and locality respectively. The
management of both the firms are focused on growing their business with the motive of earning
more profits and generating revenues.
Study will explain purpose and function of HRM regarding workforce planning, strengths
and weaknesses of different approach to recruitment and selection. It will explain benefits of
different practices for both employees and employers and its effectiveness for raising profits and
productivity of organization. It will analyse the importance of maintaining positive relationship
with employees which play a crucial role in influencing decision making of human resource
manager. It will identify key elements of employment legislation and its impacts. Thus, study
will illustrate application of HRM practices in a work related context.
TASK 1
P 1 Purpose and function of HRM in workforce planning and resourcing
Human Resource Management is a strategic approach which focuses on managing
manpower of the organization. The concept of Human Resource Management gives a detailed
view about the manner of getting work done by workforce.
Nature of HRM is to recruit and select right candidate for the work to get the best out of
all. Basically selection of right employee at the right time for the suitable job is the key concern
of HR manager. Human resource manager manages to increase productivity of the labour
efficiently.
Scope of the HRM is managing the manpower and selecting them according to the
requirements of firm. Recruiting correct number of people as per job and person specification
provides detail analysis of scope of HRM. This include recruitment, placement, training and
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motivational process. So that labour resources can be used productively. People are generally
considered as a most productive assets of the company (Brewster and Hegewisch, 2017).
Purpose of HRMG
Purpose of the HRM is to use manpower in a very systematic way. Resources should be
coordinated in a way that organizational and individual objectives, both can be achieved
properly. Manpower planning needs to be done according to vacant positions. Human resource
manager maintains a very healthy relationship among their employees. It is basically a strategic
planning of the management to keep their workforce resources satisfied and motivated towards
their organization goals.
Human resource Management serves as a link between human resource and planning to achieve
the organizational goal. Management of the firm has the capability to manage and coordinate
their workforce in an efficient way. Objective of human resource management of JP Morgan is to
maximise the company's productivity by optimising the effectiveness of their employees.
Functions of HRM
Human Resource Management strategies of JP Morgan are well managed where workers
show interests in official as well as their personal development. Trained and skilled labour is the
best strength a company can have. Providing better job opportunities and assuring the job
securities is actually the part of the management where every employee is motivated and
interested in achieving organizational goals. Functions of HRM with reference to workforce
planning are described as below:
 Recruitment
 Reward management
 Maintain Discipline
 Timely Training
 Better opportunities
JP Morgan is one of the globally diversified investment banking firm which uses its
employees as an asset. This bank provides their worker a very good environment to grow within
the company. This makes employees to do their best and they prove to be productively effective.
Promotions and the healthy environment in the bank brings their workforce loyalty
towards their work to achieve the organizational goal. JP Morgan is one of the leading
investment and financial banking service provider which is providing the services from last
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