Human Resources Management Process Assignment

Human Resources
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Throw-light on purpose and scope of Human Resource Management in context of resourcing
an firm with talent and skills effectively to meet business set standards....................................1
TASK 2............................................................................................................................................4
Examine the effectiveness of key elements of human resource management in an enterprise. .4
TASK 3............................................................................................................................................6
Evaluate internal and external factors which impact human resource management decision
making process by including employment legislation................................................................6
TASK 4............................................................................................................................................1
Application of HRM practice in context of human resource management lecturer....................1
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................1

INTRODUCTION
Human Resource Management can be defined as procedure of recruiting, providing
orientation, appraising the performance of workers, selecting, inducting staff members, imparting
training and development etc. This act is performed in each and every organization so that best
results can be attained in the global market. It plays a significant role in the motivating potential
employees to raise the overall performance (Analoui, 2018). This particular assignment is based
on Merrill Lynch Firm in central London. It provides investment management services to the
customers over the years. The report includes purpose and function of HRM in a company.
Building strong relation with staff leads in raising overall productivity and profitability ratio is
studied. The importance of HRM practices in a company is focused over the years. The
advantages and disadvantages of recruitment and selection approach are examined. Several
employment laws are ascertained so as to make changes in the the laws as per the dynamic
environment.
TASK 1
Throw-light on purpose and scope of Human Resource Management in context of resourcing an
firm with talent and skills effectively to meet business set standards.
HRM (Human Resource Management) refers to as framing unique strategies for
planning, motivating, inducting staff members, conducting orientation programmes etc. so that
easily fresh nominee can adjust with the working environment. By doing so effective outcome is
achieved in the global market which is a positive mark for the company (Banfield and Royles,
2018).
The numerous functions of human resource management are as follows:
Planning: Merrill Lynch Firm perform several functions of human resource management
out this is planning. It is done by the top level management as well as is directly related with
human resource practices so that without interruption business functions can be performed.
Proper planning leads in achieving set goals and objectives in the set time duration. In effective
planning provide unproductive outcomes which is a negative mark in the competitive market
place.
Recruiting: Hiring skilled and capable workers in Merrill Lynch Firm they will be able
to accomplish competitive advantages against rivalry. This function of HRM plays a crucial role
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in placing right nominee for the post vacant. Also it is related with human resource practices so
that tough competition can be given to the competitors prevailing in the global market. This act
directly or indirectly push other staff members to work hard day and night to meet the emerging
needs and wants of the customers over the years (Bratton and Gold, 2017).
Training and development: Providing proper training and development aspect to the
employees of Merrill Lynch Firm directly leads in retaining potential staff for longer time
period. HRM function includes training and development aspect and is associated with the HR
practices in the working premises. By doing so overall workforce performance of staff members
can be uplifted with the phase of time.
The various purpose of human resource management are as follows:
Performance Appraisal: The core purpose of human resource management is to
appreciate the deserving candidate by providing them appraisal to the staff of Merrill Lynch
Firm. The purpose of HRM is connected with human resource practices as through this business
is able to provide quality services and product to the clients. Appraisal can be in any form such
as monetary (Cash amount, Cheques) or non- monetary (Holiday, Gifts, Family trip etc.)
incentives. By doing so directly or indirectly it encourages staff members to achieve the set
objectives within the set time period (Brewster and Hegewisch, 2017).
Staffing Needs: The purpose of human resource management is to handle and manage
various needs and demands of the enterprise staff members. Merrill Lynch Firm HR department
create position announcements that covers identifying job duties as well as measuring the
required skills needed for a position. Staffing needs is interrelated with human resource practices
so that improvements can be done accordingly. HR department also focus on promotion and
transfer of existing staff members as it upgrade goodwill in the eyes of the customers.
In an organisation certain skills are executed in the working environment as it boost up
the working style of workers. There are two types of skills which are, hard and soft skills, both
are effectively and efficiently performed in an organization (Brewster and Söderström, 2017).
Soft skills: It is a gathering of social skills, personality traits, people skills, career
attributes. Communication skills etc. Soft skills plays a critical role in Merrill Lynch Firm as it
aid in attracting, finding and retaining customers. By doing so set goals and objectives can be
full-filled in the specific time period. Leadership, flexibility, adaptability, conflict resolution etc.
are examples of soft skills.
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Hard skills: It covers measurable and teachable abilities like, reading, ability to use
computer programs, writing etc. Hard skills are acquired and upgraded by practice, education
and repetition. Examples of Hard skills re, machine operation, typing speed, proficiency in
foreign language, computer programming etc. Merrill Lynch Firm execute hard skills in
employees because through this they will be able to perform the assigned task more effectively
and efficiently. Along with this it is stated as basics of accounting and financial modeling in the
open market place (Brueller and Markman, 2018). Recruiting participants with this skills aid in
lowering employees turn out ratio as well as uplift productivity.
The strengths and weaknesses of numerous approaches to recruitment and selection.
The term recruitment refers to as stimulating the capable and appropriate nominee to join
the vacant place in an organization. Merrill Lynch Firm does both internal and external
recruitment in order to hire the most deserving candidate for the vacancy. Now a days online
recruitment is also done with the change in time. As it saves time and money to a large extent.
Internal recruitment: In this nominee is selected from within the organization and position is
assigned on the basis of performance, promotion etc. By doing employees get motivated to
upgrade their overall performance to be in the next list (Chelladurai and Kerwin, 2018). It is the
easiest way to hire right participants within the enterprise for the vacancy. Internal recruitment
saves time and money directly which can be further used in growth and development of the
business.
Advantages of internal recruitment:
 For example: X candidate is chosen from Merrill Lynch Firm then less paper work and
legal formalities is needed to be performed in internal hiring. Also, less time is required
by employees side to understand the culture and job profile as he/ she has been a part of
the firm.
Disadvantages of internal recruitment:
 For example: X participants is hired in Merrill Lynch Firm due to which productivity
level of other staff reduced as confit and chaos occurs among the team members.
External recruitment: Here, candidates are hired from outer source such as, campus
recruitment, advertisements etc. This act helps the firm to come up with fresh and new talent in
the working premises (Chelladurai and Kerwin, 2018). It aid in uplifting productivity and
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profitability ratio of the company. Huge monetary fund is needed to carry out external
recruitment activity as well as it consumes more time.
Advantages of external recruitment:
 It helps to gain competitive advantages against rivalry as they come up with innovative
idea.
 Brings flexibility in the autonomous working premises.
Disadvantages of external recruitment:
 Huge cost is needed to carry out external recruitment activities.
 Brings change in the working environment due to which chaos and conflict raises.
Selection word can be explained as out of the shortlisted names choosing any one by
measuring qualification, abilities, skills, knowledge etc. for the empty position in an
administration. It is a core task which need to be performed by each and every firm in order to
place capable nominee at right post.
From the discussion above it can be summarized that hiring of candidate should be done
on the basis of required skills, knowledge, experience etc. needed for vacant post. Selection
should not be done on the basis of favouritism and discrimination (Delery and Roumpi, 2017).
By choosing the deserving candidate for the post best outcome can be attained in the global
market.
TASK 2
Examine the effectiveness of key elements of human resource management in an enterprise.
To satisfy the customers needs according to the trend prevailing in the open market place
it is important to perform HRM practices. To uplift organization revenue and productivity level
in the global market human resource practices act a success ladder. In the working environment
of Merrill Lynch Firm there are distinguished practices some of them are, payment and reward
management, flexible working options, learning, development and training practices and
employee performance management and monitoring. Every organization depending upon the
type of business accordingly perform human resource management practices (Ferraris and
Bresciani, 2019). The several HRM practices are discussed as follows:
Flexible working options: By providing flexible working options in Merrill Lynch Firm
potential and capable staff members are retained for longer time period. In the era of hectic
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schedule bringing this change in the working scenario attracts large section of skilled workers
towards the firm. By this act productivity and profitability volume raises at a tremendous scale as
they are able to meet their personal goals along wit it. It boost them to perform better each and
every day. As well as loyal clients are made satisfied in due time frame. Example: X candidate
is provided with flexible working options which directly boost up their work force efficiency to a
large extent. Here, staff member is able to accomplish personal and firm goals in specific time
duration. It directly raised the productivity which results in gaining huge revenue (Guest, 2017).
Learning,development and training practices: This is another part of human resource
management practices. Merrill Lynch Firm by carrying out continuously learning, development
and training practices boost workers way of working system. This are never ending process and
goes on and on in the an organization. With the enhancement in this sector tough competition is
created for competitors which raises revenue maximization to a large extent. Along with this
skilled dan skilled staff members are encouraged to increase their productivity accordingly. For
example: In an organization X participant is provided with proper training and development
sessions. This helped workers to better understand their job profile in the global market. This
HRM practices enhance their knowledge and skills that aid in generating more and more
revenue from the public.
Payment and reward management: In Merrill Lynch Firm the HRM practices includes
payment and reward management . This department is managed and handled properly so that
deserving and capable employees are awarded for their hard work. It directly boost potential staff
members to uplift productivity so that neck to neck competition can be given to them. Moreover,
this directly or indirectly upgrade revenue amount. Here, any kind of discrimination act is not
considered nor favouritism is taken into consideration while rewarding the nominee for his/ her
best performance (Meyer and Xin, 2018) . For Example: In an administration X employee is
working day and night to achieve the set targets in the specific time period. The reward and
management sector should provide appropriate cash amount or gift as per their hard work. By
determining the overall performance of workers reward is given in an organization.
Employee performance management and monitoring: To achieve the best outcome on
regular basis it is important to monitor performance of staff members in the cut throat
competitive world. Key performance indicator (KPI) is adopted by Merrill Lynch Firm to
ascertain the overall performance of it's capable , skilled and potential employees. To be on the
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leading position in the global market HRM practices which overs employees performance
management and monitoring is deeply evaluated to makes necessary changes (Huemann and
Turner, 2018) . Upliftment in this aspects act as a enhancement in productivity and profitability
ratio as chances of error is eliminated. Additionally, tough competition is formulated for the
companies dealing in the same sector. For Example: Organization is monitoring the
performance of X employees on regular basis so that improvement can be done accordingly.
Also, strategies are framed to enhance the loop holes in the performance of the potential and
capable staff members. It assist in raising the productivity and profitability volume to a large
scale (Järlström and Vanhala, 2018).
Merrill Lynch Firm is executing learning, development and training practices for their
precious human assets. By doing so their skills and knowledge is nourished with the phase of
time which is a positive mark of the firm. Learning, development and training practices is better
for both employees and employer as this upgrade staffs career and supports firm to meet the
desired objectives.
TASK 3
Evaluate internal and external factors which impact human resource management decision
making process by including employment legislation.
Internal factor (targeted customers, finance, equipments etc.) and external factor
(political, social, technological, environmental etc.) affect the decision making process of Merrill
Lynch Firm in both positive and negative way. Firm is growing on continuous basis because
they are building strong and transparent relations with their subordinates. Building effective
relations with employees helps companies HRM to taker effective decision regarding Merrill
Lynch Firm achievement of their set standards in the cut throat competitive world. Every
business administration has there own way to build strong and healthy relations with their co-
workers. Inspire and reward, promote healthy working environment, focus on company mission
and values, promote dialogue, offer career development etc. are some the ways through which
administration is able to build transparent and loyal bond with their precious human assets. Also,
by doing so HRM of the firm take decision to build positive working environment to assist them
to perform much better (Kianto and Aramburu, 2017). Merrill Lynch Firm is adopts inspire and
reward strategy to enhance the staff members engagement. By doing they are deserving nominee
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is retained for longer time period. Moreover, they help in gaining competitive advantages against
rivalry and are able to capture huge market ratio in the global market.
To gain goodwill in the eyes of the customers various employment legislation are
implemented in Merrill Lynch Firm. This particular act assure the workers that they are not
exploited in term and conditions as well as their rights are secured. There are several
employment legislation laws which are, diversity, data protection, equality, health and safety ,
anti-discrimination etc. distinguished administration adopts laws according to their business type
carried out in the global market. The explanation of employment legislation laws are discussed
as follows:
Data protection act, 1988: Merrill Lynch Firm adopts this employment law in their
working premises so that they can be assured that their confidential information are not leaked
out. As they this act safeguard the information related to employees and are not illegally used in
the market place. This act helps to build loyalty towards the organization which directly or
indirectly increases market value across the globe. Violation of data protection act gradually
decreases organizations market value and goodwill gradually. It creates a huge loss to the
enterprise in competitive market place.
Health and safety act, 1974: To retain skilled and potential staff members in Merrill
Lynch Firm implementation of health and safety act is must. So that employees are pushed to
stay back for longer time period in the company. By executing this act in the business
administration overall workforce efficiency is uplifted at a tremendous scale. Violation of
healthy and safety act can lead a organization to pay high charges and penalty. Along with this
employees turnout ratio gradually raises as they are not satisfied with the firm policies and
norms.
Anti-discrimination act, 1991: To grow the business across the boundaries of the nation
it is mandatory to successfully implement anti discrimination act in their working environment.
Equal opportunity should be given to everyone working in Merrill Lynch Firm irrespective of
caste, gender, colour, sex, language, background etc. deserving nominee should be given the
chance to grow and develop in their career in an organization. Anti-discrimination act performed
in the enterprise provides a senses of equality and employees give their heart and soul to perform
best as compare to other co-workers (Mondy and Martocchio, 2016).
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Equality act, 2019: Merrill Lynch Firm is a successfully gaining creating tough
competition for other dealing in the same sector because they treat each and every staff equal. By
this small act helps to accomplish big objectives in the global market. Here, staff members
working in the same post are paid same amount of remuneration, wages or salary on equal basis.
Weather male or female every one is paid the same amount as their post in a company.
Merrill Lynch Firm adopts data protection act, 1988 in their premises. By doing so the
information of workers are not leaked out nor they data are illegally used in the market. It has
raised employees retention ratio to a large extent as well as performance level uplifted (Lussier,
and Hendon, 2017).
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TASK 4
Application of HRM practice in context of human resource management lecturer
In this table CV or resume is updated specifically for position of human resource
management lecturer.
10-9-2019
Merrill Lynch manager
341, down street, East London
London, United Kingdom
[e-mail]
Respected Sir,
This is Jame Thomas, here I am regarding to contracting with your organisation by
seeing advertisement to perform their operations. For this job it is related with combination of
relevant experience, staffing experience, communication skill. So with implement factors my
capabilities are considered as a suitable candidate's.
My strong abilities are:
 To increase individuals retention by developing positive working environment in
organisation. So due to more skills or knowledge is shared with individuals to complete
their work.
 Develop effective and creative methods to target customer's in order to enhance
individual performance. So they are more interest for completing their work by
undertaking departmental requirements of organisation.
 Creating effective papers for all types of communication and examination test. This is
used to check information knowledge about hotel management resources.
 To solve dispute between teams for completing a project effectively in organisation this
also helps to build positive relations among students to complete their work.
Accomplishment
 Published articles in prestigious journals including marketing and social behaviour
about individuals.Awarded as best teacher from previous university and NGO
including inter-national universities.

Education
Ph.D: Hotel management
University of London- England
Master of Hotel management- Chef and Manager
University of Oxford- England
Graduation- Bachelor in Hotel management
Brighton University
At last consideration about work and dedication to spread knowledge among society is main
motive to spread knowledge within organisation. Along with relationship with educational
background, HR experience and qualification make a perfect fit for organisation and human
resource lecturer.
In closing I would like to perform job with more efficiency and effectiveness to evolve
knowledge and completion of work in minimum time period.
Sincerely
Jame Thomas
CONCLUSION
From the above discussion it can be concluded that human resource management plays
significant role in the growth and development of the business. It assist the organization to push
the skilled and capable staff members to work effectively and efficiently in the intense
competitive world. The functions and purpose of HRM aid the administration to run the business
smoothly in the open market place. The strength and weaknesses of distinguished approaches of
recruitment and selection are discussed so that best tactics can be framed to implement them
appropriately. Along with this effectiveness of HRM practices is done in order to increase the
productivity and profitability volume. To grow goodwill in the eyes of the staff members it is
mandatory to build strong and healthy relations with it's subordinates. Various laws related to
workers are implemented in the working premises so that any kind of discrimination act does not
take place.

REFERENCES
Books and Journals
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Banfield, P., Kay, R. and Royles, D., 2018. Introduction to human resource management.
Oxford University Press.
Bratton, J. and Gold, J., 2017. Human resource management: theory and practice. Palgrave.
Brewster, C. and Hegewisch, A., 2017. Human resource management in Europe Issues and
opportunities. In Policy and Practice in European Human Resource Management (pp.
1-21). Routledge.
Brewster, C. and Söderström, M., 2017. Human resources and line management 1. In Policy and
practice in European human resource management (pp. 51-67). Routledge.
Brueller, N. N., Carmeli, A. and Markman, G. D., 2018. Linking merger and acquisition
strategies to postmerger integration: a configurational perspective of human resource
management. Journal of Management. 44(5). pp.1793-1818.
Chelladurai, P. and Kerwin, S., 2018. Human resource management in sport and recreation.
Human Kinetics.
Chelladurai, P. and Kerwin, S., 2018. Human resource management in sport and recreation.
Human Kinetics.
Delery, J. E. and Roumpi, D., 2017. Strategic human resource management, human capital and
competitive advantage: is the field going in circles?. Human Resource Management
Journal. 27(1). pp.1-21.
Ferraris, A., Erhardt, N. and Bresciani, S., 2019. Ambidextrous work in smart city project
alliances: unpacking the role of human resource management systems. The
International Journal of Human Resource Management. 30(4). pp.680-701.
Guest, D. E., 2017. Human resource management and employee well‐being: Towards a new
analytic framework. Human Resource Management Journal. 27(1). pp.22-38.
Huemann, M., Keegan, A. and Turner, R., 2018, September. Human resource management in
the project-oriented organization. Project Management Institute.
Järlström, M., Saru, E. and Vanhala, S., 2018. Sustainable human resource management with
salience of stakeholders: A top management perspective. Journal of Business Ethics.
152(3). pp.703-724.
Kianto, A., Sáenz, J. and Aramburu, N., 2017. Knowledge-based human resource management
practices, intellectual capital and innovation. Journal of Business Research. 81. pp.11-
20.
Lussier, R. N. and Hendon, J. R., 2017. Human resource management: Functions, applications,
and skill development. Sage publications.
Meyer, K. E. and Xin, K. R., 2018. Managing talent in emerging economy multinationals:
Integrating strategic management and human resource management. The International
Journal of Human Resource Management. 29(11). pp.1827-1855.
Mondy, R. and Martocchio, J. J., 2016. Human resource management. Pearson.
Sparrow, P., Brewster, C. and Chung, C., 2016. Globalizing human resource management.
Routledge.
Stewart, G. L. and Brown, K. G., 2019. Human resource management. Wiley.