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Human Resources Management in JP Morgan

   

Added on  2020-10-05

20 Pages5341 Words295 Views
Human ResourcesManagement
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P 1Purpose and the functions of HRM...................................................................................1P 2 Strengths and weaknesses of the different approaches to recruitment and selection......3TASK 2............................................................................................................................................5P 3 Benefits of different HRM practices for employers and employees................................5P 4 Effectiveness of various HRM practices in terms of raising organisational profitability7TASK 3............................................................................................................................................8P 5 Importance of employee relations in context to influencing HRM decision making......8P 6 Key elements of employment legislation and its impact upon HRM decision making...9TASK 4..........................................................................................................................................11P 7 Application of HRM practices in a work related context using specific examples.......11CONCLUSION .............................................................................................................................13REFERENCES..............................................................................................................................15
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INTRODUCTIONHuman resource management is considered as an important part of an organisation sinceit is liable to organise as well as manage whole works occurring at the workstation. Withoutthem, a company cannot work in an efficient manner (Krot and Lewicka, 2012). Therefore, theymay not able to reach their ambitions and would suffer from a great loss. In order to achievegoals and objectives of company, it is necessary to have proper HR department. In addition tothat, HR section also recruit skilled employees according to the need of enterprises. The presentreport is depicting the significance of Human resource management for a firm named as JPMorgan which is existing in Central London. It is an American international investment bankwhich is also offering financial services to their customers. In this assignment, the purposesalong with functions of HRM is going to explain. This assignment is also throwing some light onthe nature or scope of strategic HRM. Apart from same, hard as well as Soft approaches ofhuman resource management is highlighted so that planning and resourcing can be done inglobally. It will enlighten benefits and effectiveness of HRM practices and will cover importanceof employee relations with key elements of employment legislation. TASK 1P 1Purpose and the functions of HRMHRM stands for Human Resource Management. This can be simply defined as thepractice of recruiting, selecting and controlling employees within an organisation. An HRmanager is responsible for offering educational and developmental trainings, arranging inductionprogrammes, giving compensations, etc. to each person performing at work-site (Marchingtonand et. al, 2016). The main role of an employer is to create a good culture at corporation in orderto engage more and more people in official work. JP Morgan is also having an active HRMdepartment so it is important for them to understand about every concept related to that. Theconceptions of human resource management can be better understood by examining followingpoints:Purpose of HRM:HRM division is designed for the intention of accomplishing various tasks of a firm.These tasks is considered as the main purposes which is described below :1
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