HR Business Manager Job Specification and Interview Questions
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AI Summary
The assignment discusses the role of HR in business success and outlines the key responsibilities of an HR Business Manager, including developing effective HR strategies, managing hiring and selection processes, and ensuring legal agreements. The job specification is detailed, with requirements including a Master's degree in Human Resource field, excellent listening skills, and knowledge of labor law and best practices. Interview questions are also provided to assess candidates' understanding of HR principles and practices.
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INTRODUCTION
The HRM function includes managing and controlling activities related to employees.
As it focuses on different functions such as selection & recruitment, training as well as
development programs, performance appraisal of employees, payroll function and many more.
HRM is an essential part, as this will help the management in examining every applicants of
business and generating effective and best result form employees with optimum and proper
utilization of human resource in effective way. In other words, it can be said that, HRM is a
process which helps and responsible for managing employees of business organization (Buller
and McEvoy, 2016).
For this, report the company chosen is Merrill Lynch. This report considers that, HRM
has various, functions as well as purpose. As the management of Merrill Lynch focuses on
different policies and practise along with the effective rules & regulation of HRM in their
business organization effectively and efficiently. Along with this, they also focuses on laws &
standard, which will help the top level management for taking effective judgement while
preparation and management. This also includes enhancement of profitability and productivity of
employers and workers.
Task 1
P1- Purpose and functions of HRM.
HRM department of each and every organisation is basically concerned with planning,
recruiting and selecting employees. Who basically are HR of the organisation. The HR
management team is basically concerned with analysing jobs, conducting interviews, hiring
people and many more such functions. This type of functions are conducted by human resource
management department in every organisation. They perform all functions related to employees.
Their basic aim is to work for the welfare of employee's in organisation. Employees are
responsible for smooth and proper functioning of every organisation. They are responsible for
achievement of objectives. This is essential for the HR department to take care that all employees
are happy and satisfied at workplace. (Chowhan, 2016).
The HRM function includes managing and controlling activities related to employees.
As it focuses on different functions such as selection & recruitment, training as well as
development programs, performance appraisal of employees, payroll function and many more.
HRM is an essential part, as this will help the management in examining every applicants of
business and generating effective and best result form employees with optimum and proper
utilization of human resource in effective way. In other words, it can be said that, HRM is a
process which helps and responsible for managing employees of business organization (Buller
and McEvoy, 2016).
For this, report the company chosen is Merrill Lynch. This report considers that, HRM
has various, functions as well as purpose. As the management of Merrill Lynch focuses on
different policies and practise along with the effective rules & regulation of HRM in their
business organization effectively and efficiently. Along with this, they also focuses on laws &
standard, which will help the top level management for taking effective judgement while
preparation and management. This also includes enhancement of profitability and productivity of
employers and workers.
Task 1
P1- Purpose and functions of HRM.
HRM department of each and every organisation is basically concerned with planning,
recruiting and selecting employees. Who basically are HR of the organisation. The HR
management team is basically concerned with analysing jobs, conducting interviews, hiring
people and many more such functions. This type of functions are conducted by human resource
management department in every organisation. They perform all functions related to employees.
Their basic aim is to work for the welfare of employee's in organisation. Employees are
responsible for smooth and proper functioning of every organisation. They are responsible for
achievement of objectives. This is essential for the HR department to take care that all employees
are happy and satisfied at workplace. (Chowhan, 2016).
Purpose of human resource management:
The purpose of HRM is recruitment and selection of effective candidates, proving proper
training and development programs to workforce, performance appraisals of employees,
fulfilling needs of employees, providing healthy working environment, law compliances.
Where, if it is talked about Merrill Lynch, the management is effectively focusing on
managing workforce of their company, fulfilling demand and supply of human resource
according to requirement of every department for attaining objectives of organization, focus on
giving healthy environment to their workforce for doing effective operations in business. Along
with this, management of Merrill Lynch also, provide effective training for their job task, so they
can effectively do their work and job roles without any issues and hurdles. In context to this, it
can be said that, by considering and focusing on all of these purpose of HRM, the management
leads to get effective results and also able to enhance productivity and performance of
employees, which is beneficial for business organization (Cook and Forde 2016).
Soft skills and hard skills of HRM.
Soft skills: The soft HRM approach, treats their employees as most valuable resource of
their business, as well as important source for gaining competitive advantage. In this approach
management treats employees as an individual and it focuses on needs & requirements of
employees along with their roles, rewards, motivation and many more needs. Its key features is
that, it strategically focuses on long term workforce planning and it do strong as well as two way
communication with their employees. Along with this, employees are empowered and motivate
to seek delegation and then perform their roles and responsibility and employees get
performance related rewards as well. In addition to this the management adopt democratic
leadership style.
Hard skills: In this approach, employees are treated as simple as they are resources of
business organization, like machine, building, labour etc. it mainly focuses on identifying the
needs of workforce of business and then make action accordingly like managing, recruiting,
firing etc. Its key features is that, management do short term changes in numbers of employees in
frequent basis and has one way communication as they get orders and instruction form top level.
Along with this, management focuses on minimizing wages by limited recruitment of candidates
The purpose of HRM is recruitment and selection of effective candidates, proving proper
training and development programs to workforce, performance appraisals of employees,
fulfilling needs of employees, providing healthy working environment, law compliances.
Where, if it is talked about Merrill Lynch, the management is effectively focusing on
managing workforce of their company, fulfilling demand and supply of human resource
according to requirement of every department for attaining objectives of organization, focus on
giving healthy environment to their workforce for doing effective operations in business. Along
with this, management of Merrill Lynch also, provide effective training for their job task, so they
can effectively do their work and job roles without any issues and hurdles. In context to this, it
can be said that, by considering and focusing on all of these purpose of HRM, the management
leads to get effective results and also able to enhance productivity and performance of
employees, which is beneficial for business organization (Cook and Forde 2016).
Soft skills and hard skills of HRM.
Soft skills: The soft HRM approach, treats their employees as most valuable resource of
their business, as well as important source for gaining competitive advantage. In this approach
management treats employees as an individual and it focuses on needs & requirements of
employees along with their roles, rewards, motivation and many more needs. Its key features is
that, it strategically focuses on long term workforce planning and it do strong as well as two way
communication with their employees. Along with this, employees are empowered and motivate
to seek delegation and then perform their roles and responsibility and employees get
performance related rewards as well. In addition to this the management adopt democratic
leadership style.
Hard skills: In this approach, employees are treated as simple as they are resources of
business organization, like machine, building, labour etc. it mainly focuses on identifying the
needs of workforce of business and then make action accordingly like managing, recruiting,
firing etc. Its key features is that, management do short term changes in numbers of employees in
frequent basis and has one way communication as they get orders and instruction form top level.
Along with this, management focuses on minimizing wages by limited recruitment of candidates
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and the appraisal of employees is done on bases of judgement about staff members. In addition
to this, leaders adopted autocratic leadership style.
Functions of human resource management:
There are various functions of HRM which are perform in every business organization.
Some functions are, like screening of candidates, recruitment & selections of candidates,
performance appraisals of employees, focuses on reducing conflicts, compensation and reward
management, providing proper training and development programs to employee's. In context of
Merrill Lynch, the HR manager is using human resource management functions effectively
which helps in achieving competitive advantage form profitable market for exploring their
business at international level. Here some key functions of hrm are described under below:
Recruitment and Selections: This is an important function that promotes hiring and
selecting of right applicant for business organisation. This function focusing on staffing of
human resource, in other words, it means right person at the right time on right place according
to the needs and requirement of vacant position in any department of organization for specific
job profile. A recruitment function of human resource department is positive approach whereas
the, selection function is called negative approach (Donate and Sanchez, 2016). As Every HR
manager, is adopting effective different methods for Recruitment and Selections of human
resource in their business organisations. As these are applicable effectively applicable to
workforce planning in business organization.
Training and Development programs: This HRM functions helps the management in
focusing and applying this important functions in their working environment, which helps the
leader in enhancing the productivity and performance of their employees. As this also leads to
increase in loyalty of employee towards business organisation. When it is talked about, Merrill
Lynch, the HR department focuses on providing the training and development sessions through
different various tool and activities, which engage each and every employees present in a team
for getting trained for their work and job roles. Henceforth, a development and training program
should be provided to each employees at every stage, as this enhance and improve the work
quality, productivity and performance of employee as well as employers of Merrill Lynch.
to this, leaders adopted autocratic leadership style.
Functions of human resource management:
There are various functions of HRM which are perform in every business organization.
Some functions are, like screening of candidates, recruitment & selections of candidates,
performance appraisals of employees, focuses on reducing conflicts, compensation and reward
management, providing proper training and development programs to employee's. In context of
Merrill Lynch, the HR manager is using human resource management functions effectively
which helps in achieving competitive advantage form profitable market for exploring their
business at international level. Here some key functions of hrm are described under below:
Recruitment and Selections: This is an important function that promotes hiring and
selecting of right applicant for business organisation. This function focusing on staffing of
human resource, in other words, it means right person at the right time on right place according
to the needs and requirement of vacant position in any department of organization for specific
job profile. A recruitment function of human resource department is positive approach whereas
the, selection function is called negative approach (Donate and Sanchez, 2016). As Every HR
manager, is adopting effective different methods for Recruitment and Selections of human
resource in their business organisations. As these are applicable effectively applicable to
workforce planning in business organization.
Training and Development programs: This HRM functions helps the management in
focusing and applying this important functions in their working environment, which helps the
leader in enhancing the productivity and performance of their employees. As this also leads to
increase in loyalty of employee towards business organisation. When it is talked about, Merrill
Lynch, the HR department focuses on providing the training and development sessions through
different various tool and activities, which engage each and every employees present in a team
for getting trained for their work and job roles. Henceforth, a development and training program
should be provided to each employees at every stage, as this enhance and improve the work
quality, productivity and performance of employee as well as employers of Merrill Lynch.
P2- Strengths and weakness of various approaches of HRM.
Recruitment: This function of HR management is positive approach and this helps the
HR manager in attracting the candidate by inviting the applications of talented individual for job
profile in an business. The recruitment process can be conducted with two approaches, that is
from internal source as well as external sources for recruiting and hiring best suitable candidate
specified job. In context to Merrill Lynch organization, HR manager has focused on both
approaches internal and external source for recruitment process for recruiting of employee in
their organization (Farouk and et. al., 2016).
Strengths and imperfection of Recruitment:
Strength of recruitment process is, that, it is positive process which is very helpful for
manager in attracting skilled and specialised candidates through different platform. Along with
this, the manager has adopted both internal and external source for hiring candidates. Such as job
portals, company websites which helps in hunting for fresh talent are example of external source.
Where as Promotions, transfer are examples of internal sources. As these both source helps the
management in helping and fulfilling the demand and supply of required workforce of the
business organisation (Hassan, 2016). If it is talked about, the weakness of recruitment process,
as the external source is time consuming and think that internal source is easy and beneficial it
do not consume more time. But internal recruiting do not introduce the new innovative ideas in
employee and not beneficial for organisation.
Selections: The selection process play an vital role in human resource management
function. As it helps the management for selecting the best candidate form numbers for
employees. In other words, selection is a process, which involves in screening and extracting of
skilled and talented applicant with the help of various methods. The screening process can be
connected through various methods, such as personal interview, aptitude test, group discussion,
and various tests is held for testing and finding suitable candidates. In context to Merrill Lynch,
human resource department has adopted different various methods for screening and analysing
the candidates, such as personal interviewee, group discussion, which results in beneficial for
business organization in finding effective and suitable candidates (Kianto, and Aramburu,
2017).
Recruitment: This function of HR management is positive approach and this helps the
HR manager in attracting the candidate by inviting the applications of talented individual for job
profile in an business. The recruitment process can be conducted with two approaches, that is
from internal source as well as external sources for recruiting and hiring best suitable candidate
specified job. In context to Merrill Lynch organization, HR manager has focused on both
approaches internal and external source for recruitment process for recruiting of employee in
their organization (Farouk and et. al., 2016).
Strengths and imperfection of Recruitment:
Strength of recruitment process is, that, it is positive process which is very helpful for
manager in attracting skilled and specialised candidates through different platform. Along with
this, the manager has adopted both internal and external source for hiring candidates. Such as job
portals, company websites which helps in hunting for fresh talent are example of external source.
Where as Promotions, transfer are examples of internal sources. As these both source helps the
management in helping and fulfilling the demand and supply of required workforce of the
business organisation (Hassan, 2016). If it is talked about, the weakness of recruitment process,
as the external source is time consuming and think that internal source is easy and beneficial it
do not consume more time. But internal recruiting do not introduce the new innovative ideas in
employee and not beneficial for organisation.
Selections: The selection process play an vital role in human resource management
function. As it helps the management for selecting the best candidate form numbers for
employees. In other words, selection is a process, which involves in screening and extracting of
skilled and talented applicant with the help of various methods. The screening process can be
connected through various methods, such as personal interview, aptitude test, group discussion,
and various tests is held for testing and finding suitable candidates. In context to Merrill Lynch,
human resource department has adopted different various methods for screening and analysing
the candidates, such as personal interviewee, group discussion, which results in beneficial for
business organization in finding effective and suitable candidates (Kianto, and Aramburu,
2017).
Strengths and weakness of Selections:
The strength of selection is that, it helps human resource manager in screening the
effective and talented applicants, who has specified abilities, skills and capabilities which are
matching with requirement and need for vacant job role for business organization. Along with
this, the manager of Merrill Lynch has adopted different methods for screening such as face to
face interview, as this helps in analysing applicants in effective and efficient way. The weakness
of selections process is that, it is negative process and in consume too much cost and time of
business organization
Task 2
P3. Benefits if HRM practices within an organization for both the employer and employee.
Human Resource Management consists of various types of tactic, policies, practises
which gives the direct impact on employee's behaviour in the organisation. For effective
functioning of every organisation it must have a strong workforce. Different types of Human
Resource Management practises include hiring people, training and motivating them, providing
them incentives, promoting them. They mainly Work for overall development of employee as
well as organisation. All these basic functions of Human Resource revolve around employees of
the organisation. There must always be a healthy relation between them in every organisation
(Noe, and et. al., 2017). This not only keeps employee motivated, but helps to improve the
overall effectiveness and efficiency of all Human Resource Management functions.
Motivation of workers: It is very crucial for organisation which helps in motivating its
workers. As a motivated workforce always has more productivity comparatively. The human
resource management team of Merrill Lynch is also focussed on motivating their employees
through different types of monetary and non monetary incentives. They focus on reducing
employee conflicts, appreciating their achievements & contribution, building an open
communication channel between employer employee. These all activities are focussed on
increasing employee motivation towards work.
Organisation culture: Organisation culture basically deals with the overall environment
of organisation. The basic environment which consists of all values prevailing there. All rules
governing people of organisation are part of organisation culture. Merrill Lynch as a company
The strength of selection is that, it helps human resource manager in screening the
effective and talented applicants, who has specified abilities, skills and capabilities which are
matching with requirement and need for vacant job role for business organization. Along with
this, the manager of Merrill Lynch has adopted different methods for screening such as face to
face interview, as this helps in analysing applicants in effective and efficient way. The weakness
of selections process is that, it is negative process and in consume too much cost and time of
business organization
Task 2
P3. Benefits if HRM practices within an organization for both the employer and employee.
Human Resource Management consists of various types of tactic, policies, practises
which gives the direct impact on employee's behaviour in the organisation. For effective
functioning of every organisation it must have a strong workforce. Different types of Human
Resource Management practises include hiring people, training and motivating them, providing
them incentives, promoting them. They mainly Work for overall development of employee as
well as organisation. All these basic functions of Human Resource revolve around employees of
the organisation. There must always be a healthy relation between them in every organisation
(Noe, and et. al., 2017). This not only keeps employee motivated, but helps to improve the
overall effectiveness and efficiency of all Human Resource Management functions.
Motivation of workers: It is very crucial for organisation which helps in motivating its
workers. As a motivated workforce always has more productivity comparatively. The human
resource management team of Merrill Lynch is also focussed on motivating their employees
through different types of monetary and non monetary incentives. They focus on reducing
employee conflicts, appreciating their achievements & contribution, building an open
communication channel between employer employee. These all activities are focussed on
increasing employee motivation towards work.
Organisation culture: Organisation culture basically deals with the overall environment
of organisation. The basic environment which consists of all values prevailing there. All rules
governing people of organisation are part of organisation culture. Merrill Lynch as a company
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emphasises on creating a comfortable and open working culture for its employees. This will
increase overall effectiveness of their employee's performance (Presbitero, and Chadee, 2016).
Management conflict: The Conflict management are very common in every
organisation. It is very necessary on the part of Human resource management team that such type
of conflicts must be resolved time to time to ensure they are not creating hurdles in overall
functioning of the organisation. These type of conflicts can arise at any levels vertically or
horizontally. Merrill Lynch as a company always lays down emphasis on sorting such conflicts
as soon as they arise.
Hiring of Employee's: This is a very essential function of HRM team to recruit and
select skilled and dedicated manpower. It is employee who is ultimately involved for
achievement of organisational objectives. Merrill Lynch has a strong Human Resource team. As
it is a finance company so there is always need of employee's who required skills and
knowledge. Interviewing a person and checking whether he has appropriate knowledge, required
skills to perform job is very important function.
Training and Development: It is very important for every organisation to provide
adequate training to their employee's. As every organisation is different and employees must
always be taught the way in which its functions have to be done. Merrill Lynch also works in
providing its employee's required training they need to perform their tasks. This leads to
increases in cost and also beneficial for both employees and for business with long term
prospective (Psychogios, and et. al., 2016).
Benefits and Rewards: It is a belief of many organisations that whatever they are
earning is because of its employees. So they share those benefits with their employees in form of
Rewards and benefits for their contribution. This always helps in motivating their employee's
and increasing their efficiency. Merrill Lynch also makes efforts in framing appropriate policies
for providing timely benefits & rewards for its employee's. This keeps employees happy and
contended at the workplace which has a positive impact on their productivity.
P4. The effectiveness of Human Resource Practises in organizational profit and productivity.
The human resource productivity always plays a critical role in increasing overall
profitability of organization (Pudelko and Harzing, 2007). HR department of every organisation
is always concerned in making it more effective and systematic. So that all function of HRM are
increase overall effectiveness of their employee's performance (Presbitero, and Chadee, 2016).
Management conflict: The Conflict management are very common in every
organisation. It is very necessary on the part of Human resource management team that such type
of conflicts must be resolved time to time to ensure they are not creating hurdles in overall
functioning of the organisation. These type of conflicts can arise at any levels vertically or
horizontally. Merrill Lynch as a company always lays down emphasis on sorting such conflicts
as soon as they arise.
Hiring of Employee's: This is a very essential function of HRM team to recruit and
select skilled and dedicated manpower. It is employee who is ultimately involved for
achievement of organisational objectives. Merrill Lynch has a strong Human Resource team. As
it is a finance company so there is always need of employee's who required skills and
knowledge. Interviewing a person and checking whether he has appropriate knowledge, required
skills to perform job is very important function.
Training and Development: It is very important for every organisation to provide
adequate training to their employee's. As every organisation is different and employees must
always be taught the way in which its functions have to be done. Merrill Lynch also works in
providing its employee's required training they need to perform their tasks. This leads to
increases in cost and also beneficial for both employees and for business with long term
prospective (Psychogios, and et. al., 2016).
Benefits and Rewards: It is a belief of many organisations that whatever they are
earning is because of its employees. So they share those benefits with their employees in form of
Rewards and benefits for their contribution. This always helps in motivating their employee's
and increasing their efficiency. Merrill Lynch also makes efforts in framing appropriate policies
for providing timely benefits & rewards for its employee's. This keeps employees happy and
contended at the workplace which has a positive impact on their productivity.
P4. The effectiveness of Human Resource Practises in organizational profit and productivity.
The human resource productivity always plays a critical role in increasing overall
profitability of organization (Pudelko and Harzing, 2007). HR department of every organisation
is always concerned in making it more effective and systematic. So that all function of HRM are
performed well. HRM in Merrill Lynch focuses on empowering of employees, compensating
them, providing them benefits both monetary & non monetary to enhance their performance. The
basic HRM Practises
of Merrill Lynch are:
Information sharing: Attempts are always made by Merrill Lynch to welcome all new
ideas suggested by anyone in the company. Many types of Seminars and sessions are organised
by company time to time for such sharing of information. Every new and innovative idea is
listened by top management of the company in such sessions. Implementation is also done if
majority agree to it.
Hiring of Employee's: Hiring & selection is very important activity of HRM of every
organisation. As this is the stage where actually employees are selected on the basis of their
skills and competence. On part of Human resource department, if any mistake is made at this
stage then it may affect overall functioning of organisation. Merrill Lynch also recruits and
selects people on basis of their knowledge, skills and required experience in certain profiles.
Training and Development: Providing proper training to employees is very important
for every organisation as it affects their productivity. There is great demand for highly qualified
and trained staff in companies. This may lead to high employee turnover also in some situations.
Merrill Lynch dealing in finance, must make efforts to reduce their employee turnover. So that
they are able to get benefits of costs incurred in providing training to their employee's (Vanhala
and Ritala, 2016).
Increasing productivity: Increasing employee's overall productivity will the has a
positive impact on the profitability of company. If employee's productivity will increase then it
will lead to growth of organisation as a whole. Merrill Lynch is always involved in increasing
productivity of its employee's. Increased productivity has a direct relationship with increased
profitability.
Compensation and Other Benefits: Compensating employee's is very important for
raising their motivation level towards their work. As every company wants a satisfied and
motivated workforce. Merrill Lynch also provides many types of non-monetary and monetary
terms for increasing employee's morale (DeCenzo and et. Al 2016). This not only enhances their
performance but also keeps them motivated towards their work. This results into better
functioning of company as a whole.
them, providing them benefits both monetary & non monetary to enhance their performance. The
basic HRM Practises
of Merrill Lynch are:
Information sharing: Attempts are always made by Merrill Lynch to welcome all new
ideas suggested by anyone in the company. Many types of Seminars and sessions are organised
by company time to time for such sharing of information. Every new and innovative idea is
listened by top management of the company in such sessions. Implementation is also done if
majority agree to it.
Hiring of Employee's: Hiring & selection is very important activity of HRM of every
organisation. As this is the stage where actually employees are selected on the basis of their
skills and competence. On part of Human resource department, if any mistake is made at this
stage then it may affect overall functioning of organisation. Merrill Lynch also recruits and
selects people on basis of their knowledge, skills and required experience in certain profiles.
Training and Development: Providing proper training to employees is very important
for every organisation as it affects their productivity. There is great demand for highly qualified
and trained staff in companies. This may lead to high employee turnover also in some situations.
Merrill Lynch dealing in finance, must make efforts to reduce their employee turnover. So that
they are able to get benefits of costs incurred in providing training to their employee's (Vanhala
and Ritala, 2016).
Increasing productivity: Increasing employee's overall productivity will the has a
positive impact on the profitability of company. If employee's productivity will increase then it
will lead to growth of organisation as a whole. Merrill Lynch is always involved in increasing
productivity of its employee's. Increased productivity has a direct relationship with increased
profitability.
Compensation and Other Benefits: Compensating employee's is very important for
raising their motivation level towards their work. As every company wants a satisfied and
motivated workforce. Merrill Lynch also provides many types of non-monetary and monetary
terms for increasing employee's morale (DeCenzo and et. Al 2016). This not only enhances their
performance but also keeps them motivated towards their work. This results into better
functioning of company as a whole.
TASK 3
P5. Importance of employee relations in respect to influencing HRM decision making.
Employee relations is refers to efforts of the business organisation which helps them in
enhancing and improving the relationship between both employees and employer of business. In
context of Merrill Lynch, it is analysed that, the management is taking effective initiatives and
measures for creating and improving relationship with the employees. As by this, the employees
will work effectively and efficiently and also leads in increasing the productivity as they put their
maximum output in working, which is beneficial for business organization.
For this, human resource department of Merrill Lynch is making and adopting effective
as well as fair decisions for their employees, which helps in developing the goodwill and healthy
working environment for all workforce (Williams, and Lee, 2016). In context to this, the some
of the importance of employee relation, will helps the management in influencing the decision of
HRM. Some of the importance are described under below:
Productivity: The proper and best employee relation will help the management of
Merrill Lynch in improving and increasing the performance as well as productivity of both
company and their employees. As the workers are feeling homely in working environment of
company, in effective way. According to circumstance of Merrill Lynch, the management is
involves their employees while making decisions for their organisation, as they take their ideas,
views, opinion, which leads the management in making right and effective decision beneficial
for their business organization. As this also helps the manager in analysing and deciding the
effective area in which employee give their best performance as well as productivity and output
of their performance. As this shows, effective and proper employee relations helps management
and employees of Merrill Lynch in maximising productivity as well as level of performance in
efficient manner.
Conflict resolution: This is an some other value for the employee relations for Merrill
Lynch organizational, as this will helps in taking effective decision in HRM division. Along with
this, it is analysed that, hrm department of Merrill Lynch has created the positive relationship
with their all workforce, as the employees effectively helps management by giving profitable
suggestion and opinions for resolving the problems arise in business organization in efficient and
effective manner. In addition to this, healthy relation with worker also helps the human resource
manager in disillusioning and accepting the changes and decisions in effective way without any
P5. Importance of employee relations in respect to influencing HRM decision making.
Employee relations is refers to efforts of the business organisation which helps them in
enhancing and improving the relationship between both employees and employer of business. In
context of Merrill Lynch, it is analysed that, the management is taking effective initiatives and
measures for creating and improving relationship with the employees. As by this, the employees
will work effectively and efficiently and also leads in increasing the productivity as they put their
maximum output in working, which is beneficial for business organization.
For this, human resource department of Merrill Lynch is making and adopting effective
as well as fair decisions for their employees, which helps in developing the goodwill and healthy
working environment for all workforce (Williams, and Lee, 2016). In context to this, the some
of the importance of employee relation, will helps the management in influencing the decision of
HRM. Some of the importance are described under below:
Productivity: The proper and best employee relation will help the management of
Merrill Lynch in improving and increasing the performance as well as productivity of both
company and their employees. As the workers are feeling homely in working environment of
company, in effective way. According to circumstance of Merrill Lynch, the management is
involves their employees while making decisions for their organisation, as they take their ideas,
views, opinion, which leads the management in making right and effective decision beneficial
for their business organization. As this also helps the manager in analysing and deciding the
effective area in which employee give their best performance as well as productivity and output
of their performance. As this shows, effective and proper employee relations helps management
and employees of Merrill Lynch in maximising productivity as well as level of performance in
efficient manner.
Conflict resolution: This is an some other value for the employee relations for Merrill
Lynch organizational, as this will helps in taking effective decision in HRM division. Along with
this, it is analysed that, hrm department of Merrill Lynch has created the positive relationship
with their all workforce, as the employees effectively helps management by giving profitable
suggestion and opinions for resolving the problems arise in business organization in efficient and
effective manner. In addition to this, healthy relation with worker also helps the human resource
manager in disillusioning and accepting the changes and decisions in effective way without any
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issue, as this leads results in beneficial for both employees and employers of Merrill Lynch
company (Xing and et. al., 2016).
P6- Employment laws and its impact on HRM decision making.
The different Torah and legislation as well as some legal acts which are introduced by
government of United Kingdom for every business as well as on industry. These rules &
regulations as well as laws & legislation also helps in creating and enhancing relationship
between employees, employers and trade union within an business organisations. Some of these
acts which are introduced by united kingdom government are Pensions Act 1995, equal
remuneration act, National Minimum Wage Act 1998, Employment Right Act 1996, Working
Time Regulations 1998 and many more.
For every business organization, it is compulsory to precede with legal laws and
legislation for achieving the growth of business international level. In context to Merrill Lynch,
the management has adopted all important Torah and acts, which assist them in decision making
policy effectively and efficiently. As this also, provide happy working environment for
employees for effectively operating business activities (Sparrow and et. Al, 2016). Here, some
laws and legislation are described under beneath:
National Minimum Wage Act 1998: This law is beneficial for the employees. As it
states that, at-least nominal wage should be paid to every employees impermanent in business of
united kingdom. The UK government has set €8.25 wages for faculty members, whose age is
above 25 year, will includes in this Act. in context to Merrill Lynch, the management should
consider this law and act while decision making about the salary of their employee's.
Time Regulations 1998: This law states that, standard of working hours for all employee
are to be setted effectively, according to laws introduced by government of UK. The government
has decided to give some paid holidays to employee, which helps in reducing the lengthy
working hours in a day for their employee as they need break from working. As this helps the
management increasing the productiveness and profitableness of organization. As the
management of Merrill Lynch, has adopted this law, time regulation act, which states, employee
perform their work and their task in 8 hours of working in any business organization. for every
staff (Alfes and et. al., 2013).
If management of Merrill Lynch reduces the working hours, then it leads to improve and
enhance the productivity and performance of employees as they perform their work and job role
company (Xing and et. al., 2016).
P6- Employment laws and its impact on HRM decision making.
The different Torah and legislation as well as some legal acts which are introduced by
government of United Kingdom for every business as well as on industry. These rules &
regulations as well as laws & legislation also helps in creating and enhancing relationship
between employees, employers and trade union within an business organisations. Some of these
acts which are introduced by united kingdom government are Pensions Act 1995, equal
remuneration act, National Minimum Wage Act 1998, Employment Right Act 1996, Working
Time Regulations 1998 and many more.
For every business organization, it is compulsory to precede with legal laws and
legislation for achieving the growth of business international level. In context to Merrill Lynch,
the management has adopted all important Torah and acts, which assist them in decision making
policy effectively and efficiently. As this also, provide happy working environment for
employees for effectively operating business activities (Sparrow and et. Al, 2016). Here, some
laws and legislation are described under beneath:
National Minimum Wage Act 1998: This law is beneficial for the employees. As it
states that, at-least nominal wage should be paid to every employees impermanent in business of
united kingdom. The UK government has set €8.25 wages for faculty members, whose age is
above 25 year, will includes in this Act. in context to Merrill Lynch, the management should
consider this law and act while decision making about the salary of their employee's.
Time Regulations 1998: This law states that, standard of working hours for all employee
are to be setted effectively, according to laws introduced by government of UK. The government
has decided to give some paid holidays to employee, which helps in reducing the lengthy
working hours in a day for their employee as they need break from working. As this helps the
management increasing the productiveness and profitableness of organization. As the
management of Merrill Lynch, has adopted this law, time regulation act, which states, employee
perform their work and their task in 8 hours of working in any business organization. for every
staff (Alfes and et. al., 2013).
If management of Merrill Lynch reduces the working hours, then it leads to improve and
enhance the productivity and performance of employees as they perform their work and job role
according to their ability and working capacity. If the management of Merrill Lynch adopts the
Time Regulation act 1998 in their working culture of business organization, as this will help
them in gaining trust form their workforce towards the Merrill Lynch.
Employment Right Act 1996: This act plays very important role in business
organization. As this act states that, leaves and holidays are to be given each and every employee
of an organization of United Kingdom. The UK government introduced many benefits for
employee which are their rights such as maternal-paternal leaves, flexible working for
employee's, some paid leaves, sick leaves, causal leaves. As this is their important rights, which
they can effectively use with the helps of this laws. On the other hand, Merrill Lynch,
management give and accepts lay-off of their employees, which increases in the job satisfaction
& also enhance their productivity and performance.
TASK 4
P7. Application of Human Resource Management practices.
HRM team of each and every business is performing different functions, which helps
them in effectively working with their workforce in company (Budhwar and Debrah, 2013). In
context to current situation, HRM division of Merrill Lynch is focusing on using, effective and
certain various written document, which will help top level management in satisfying the needs
of their employees. Such documentations are Job specification, job specification, person
description , CV. and many more. The importance and Usage can be understood with helps of
sample of documentation effectively.
Person Specification: The person specification is document, which includes skills,
attributes, knowledge, potential of employees as well as his qualification. In addition to this
scenario, the person specification is created, under below ( Chelladurai and Kerwin,2017).
Person Specification
Position: Chef position at Michelin Star Restaurant.
Department: Catering Department
Key
requirements:
Qualification and experiences.
Primary education is compulsory.
Time Regulation act 1998 in their working culture of business organization, as this will help
them in gaining trust form their workforce towards the Merrill Lynch.
Employment Right Act 1996: This act plays very important role in business
organization. As this act states that, leaves and holidays are to be given each and every employee
of an organization of United Kingdom. The UK government introduced many benefits for
employee which are their rights such as maternal-paternal leaves, flexible working for
employee's, some paid leaves, sick leaves, causal leaves. As this is their important rights, which
they can effectively use with the helps of this laws. On the other hand, Merrill Lynch,
management give and accepts lay-off of their employees, which increases in the job satisfaction
& also enhance their productivity and performance.
TASK 4
P7. Application of Human Resource Management practices.
HRM team of each and every business is performing different functions, which helps
them in effectively working with their workforce in company (Budhwar and Debrah, 2013). In
context to current situation, HRM division of Merrill Lynch is focusing on using, effective and
certain various written document, which will help top level management in satisfying the needs
of their employees. Such documentations are Job specification, job specification, person
description , CV. and many more. The importance and Usage can be understood with helps of
sample of documentation effectively.
Person Specification: The person specification is document, which includes skills,
attributes, knowledge, potential of employees as well as his qualification. In addition to this
scenario, the person specification is created, under below ( Chelladurai and Kerwin,2017).
Person Specification
Position: Chef position at Michelin Star Restaurant.
Department: Catering Department
Key
requirements:
Qualification and experiences.
Primary education is compulsory.
Effective information of food preparation.
Deals and focuses on food safety.
Skills and knowledge.
Attractive personality and ability for handling clients issues.
Effective learner and punctual.
Discipline towards roles and duties, which are assigned and need
to be obeyed in proper and effective manner.
Experience: Working experience in service industry.
At least minimum two years experience in any industry as a chef
assistant.
Living values: An proper apprehension of ethical motive, values as well as behaviour
required in this job role.
Other: Flexible attitude to working hours.
Job specification: Job specification is an document, which includes all information about
the job profile (Huselid and Becker, 2011). As it includes, tasks, roles & responsibilities, duties,
functions which are to be performed by an employee for specific job role in business
organization. The Job specification document is prepared, by doing research about requirement
of workforce in each and every department of business organization. In context to current
situation, position of HR Business Manager is vacant in Merrill lynch (López-Nicolás and
Meroño-Cerdán, 2011). For this, Job specification has formulated stated and illustrated under
below :
JOB SPECIFICATION
Company: Merrill lynch
Designation: HR Business Manager
Division: Human Resource
Deals and focuses on food safety.
Skills and knowledge.
Attractive personality and ability for handling clients issues.
Effective learner and punctual.
Discipline towards roles and duties, which are assigned and need
to be obeyed in proper and effective manner.
Experience: Working experience in service industry.
At least minimum two years experience in any industry as a chef
assistant.
Living values: An proper apprehension of ethical motive, values as well as behaviour
required in this job role.
Other: Flexible attitude to working hours.
Job specification: Job specification is an document, which includes all information about
the job profile (Huselid and Becker, 2011). As it includes, tasks, roles & responsibilities, duties,
functions which are to be performed by an employee for specific job role in business
organization. The Job specification document is prepared, by doing research about requirement
of workforce in each and every department of business organization. In context to current
situation, position of HR Business Manager is vacant in Merrill lynch (López-Nicolás and
Meroño-Cerdán, 2011). For this, Job specification has formulated stated and illustrated under
below :
JOB SPECIFICATION
Company: Merrill lynch
Designation: HR Business Manager
Division: Human Resource
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Responsibilities: Developing and implementing the effective HR strategies
and initiatives business strategy.
Managing the hiring and selection process and bridging
relationship between the employers and employee by
addressing and dealing with demands, requirements and
grievances of employees.
creating and observing the HR activities, tactics, method,
process in whole business, which helps in upbringing the
healthy environment for employees of organization.
Managing performance appraisal system and maintaining
and creating effective plans for beneficial programs.
Ensuring legal agreement end-to-end with HRM of
organization.
Required Qualification: Masters in human resource field ( Marchington and et. al.,
2016).
Graduation in management from affiliated university
Requirements: Information regards to HR systems.
Required excellent listening skills along with presentation
skills.
Proper knowledge of labour law and HR best practices.
Ability to build human resource strategies.
Effective leadership skills.
Ability to build interpersonal relationships at every levels
of company
Experience required: Working experience as HR manager
Working knowledge of HR executive (Messersmith and
et. al., 2011).
Minimum three years of experience human resource in
any industry.
and initiatives business strategy.
Managing the hiring and selection process and bridging
relationship between the employers and employee by
addressing and dealing with demands, requirements and
grievances of employees.
creating and observing the HR activities, tactics, method,
process in whole business, which helps in upbringing the
healthy environment for employees of organization.
Managing performance appraisal system and maintaining
and creating effective plans for beneficial programs.
Ensuring legal agreement end-to-end with HRM of
organization.
Required Qualification: Masters in human resource field ( Marchington and et. al.,
2016).
Graduation in management from affiliated university
Requirements: Information regards to HR systems.
Required excellent listening skills along with presentation
skills.
Proper knowledge of labour law and HR best practices.
Ability to build human resource strategies.
Effective leadership skills.
Ability to build interpersonal relationships at every levels
of company
Experience required: Working experience as HR manager
Working knowledge of HR executive (Messersmith and
et. al., 2011).
Minimum three years of experience human resource in
any industry.
Interview questions for HR Business Manager position(Renwick and Maguire,2013).
1. How the role of HR contribute in any business and leads to success?
2. How HR will ensure that, inducting of new employee is in business?
3. Which employee benefits is best for highest employee motivation?
4. Which is the most successful recruitment strategy for business organization?
5. How HR manager convert negative staff into positive staff effectively?
CONCLUSION
HRM is an essential role in each business. In this HR division are involved in handling
various functions of department, such as screening, selecting, hiring of employees as well as
performance appraisals and many more. For conducting this assignment, the Merrill Lynch
company is selected. The management of Merrill Lynch is well known and aware of different
functions of HRM and HRM policies, practices as well as laws & legislation, which are
beneficial for their business organization and their employee’s. Along with this, Merrill Lynch
management also considers different HRM practices in their organisation, such as training and
development programs, reward management, giving effective remuneration, attractive
recruiting& selection process, creating happy environment for employee for effective working
environment which is beneficial for both business organization and employees. In addition to
this, the management also applying and considering various laws such as employment right act,
national minimum wages Act and many more.
1. How the role of HR contribute in any business and leads to success?
2. How HR will ensure that, inducting of new employee is in business?
3. Which employee benefits is best for highest employee motivation?
4. Which is the most successful recruitment strategy for business organization?
5. How HR manager convert negative staff into positive staff effectively?
CONCLUSION
HRM is an essential role in each business. In this HR division are involved in handling
various functions of department, such as screening, selecting, hiring of employees as well as
performance appraisals and many more. For conducting this assignment, the Merrill Lynch
company is selected. The management of Merrill Lynch is well known and aware of different
functions of HRM and HRM policies, practices as well as laws & legislation, which are
beneficial for their business organization and their employee’s. Along with this, Merrill Lynch
management also considers different HRM practices in their organisation, such as training and
development programs, reward management, giving effective remuneration, attractive
recruiting& selection process, creating happy environment for employee for effective working
environment which is beneficial for both business organization and employees. In addition to
this, the management also applying and considering various laws such as employment right act,
national minimum wages Act and many more.
REFERENCES
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