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Human Resources Management at JP Morgan

   

Added on  2020-10-23

17 Pages5065 Words144 Views
Human ResourcesManagement
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Purpose and Function of human resource management in JP Morgan Firm....................1P2 Strength and Weakness of HRM in JP Morgan organization with Example selection andrecruitment process.................................................................................................................3TASK 2............................................................................................................................................4P3 Describe the different benefits of human resource management within both the employeeand employer in the JP Morgan Firm.....................................................................................4P4 HRM practices for rising the productivity and profitability in the organization..............5TASK 3............................................................................................................................................6P5 Significance of employee relation for influencing HRM decision-making......................6P6 identifying the key elements of employment legislation for HRM decision making.......8TASK 4............................................................................................................................................9P7 Illustrate the application of various HRM work-related practices....................................9CONCLUSION .............................................................................................................................13REFERENCES................................................................................................................................1
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INTRODUCTIONHuman Resource Management is a method which is useful for company to manage thebusiness operations and functions in proper manner. HRM is performing different role andfunctions such as recruiting and selection, training and development, appraisal, incentives orrewards, etc. Human resource management is planning of an effective strategy to manage theperformance of employee. HRM department is main part of organization that has moreresponsibilities to determine the need and requirement of business. The main objective of humanresource is to maintain the position of organization in global marketplace.This report will discuss about the purpose and functions of human resource managementof JP Morgan. It also identifies the strength and weakness of HRM in JP Morgan Company. JPMorgan Company is the fastest growing organization which provide the best services to theircustomers. HR officer plays important role in organization to provide benefits for employee andemployer (Jackson, Schuler and Jiang, 2014). This assignment will identify significance ofrelationship with the employee and motivating the staff member towards decision-making. Thisreport will describe different type of employment legislation for decision-making. TASK 1P1 Purpose and Function of human resource management in JP Morgan FirmHuman resource management is important part for JP Morgan firm to manage all thefacilities and services of organization. They are performing different operations such asselections and recruitment, compensation and benefits, incentives, legislation law, etc. The mainpurpose of human resource to provide best facilities to their employees. Time to time, they areconducting event and activities for development and growth of staff members.Scope of Human resource management- The main scope of HRM is to plan strategy which isidentifying job vacancy, provide the induction to new employees. (Kramar, 2014). Main aim ofJP Morgan firm to provide the best quality of facilities and services to their customers. HRM isusing approaches which are applicable in business development process discuss as following:Soft HRM- Soft human resource management is treating the employee as an important resourcefor business development. Employee is backbone of JP Morgan to perform different functionsand operations in proper manner. JP Morgan is identifying the needs and requirements ofemployee. HRM mainly concern about to determine the need of employee such as different roles,1
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rewards and motivation etc. Soft HRM process also called the instrumental method that analysethe entire business operations and functions.Hard HRM- According to JP Morgan Firm, Hard HRM treat the employee as a resource ofbusiness and employee has to be strongly linked with business planning. HRM mainly identifyneed of workforce in business and they also manage and recruit talented employee accordingly.They provide the minimum salary to their staff member. This approach is also known ashumanism development, which is helpful for developing the skill, collaboration etc.There are various type of activities performed by Human resource management discuss infollowings:Recruitment and selection- Selection and recruitment are important process which areconducted by human resource because they hire the efficient candidates who has capable tocontrol the business process in effective ways. In JP Morgan, this organization has efficientemployee to perform different task and manage the entire business process. The organization isorganizing different activities for hiring people (Cooke, Saini and Wang, 2014). In most of time,they can be handle the business process in effective ways. Human resource department has moreduties to hire the efficient people that has all the quality and capability. Training and development- According to JP Morgan, Training and development provided bythe HRM department and they will maintain their services in proper manner. This is essential foremployee to increase their capability and skill which is required for growth and developing. Inthis way, employee can improve performance which is beneficial for JP Morgan. Thisorganization is conducting development session for enhancing business all over the world. Working Environment- JP Morgan maintains the working culture of business environmentwhich is required for growth and development (Adjibolosoo, 2018). Human resource hasresponsibility to build an effective environment. Manager provides the facilities to each andevery employee to share their opinion and suggestion regarding the business activities. Workingenvironment is maintained by the human resource management and they provide the facility totheir employee freely interact with the other employee to share the information’s and alsocommunicate with each other. 2
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