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Human Resources Management Planning

   

Added on  2021-01-01

17 Pages5932 Words109 Views
Human ResourcesManagement
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Purpose and functions of HRM that are applicable to workforce planning and resourcing. .1P2 Strength and weaknesses of different approaches to recruitment and selection....................3M1 How functions of HRM can provide talent and skills appropriate to fulfil businessobjectives.....................................................................................................................................5M2 Strength and weaknesses of different approaches of recruitment and selection..................5D1 Critically evaluate strength and weaknesses of different approaches to recruitment andselection ......................................................................................................................................5TASK 2............................................................................................................................................5P3 Benefits of different HRM practices within the firm for employer and employee................5P4 Evaluate effectiveness of different HRM practices in order to increase profit andproductivity.................................................................................................................................7M3 Different methods used in HRM practices with provide example to support evaluation.....8D2 Critically evaluate HRM practices and application in organisational context......................8TASK 3............................................................................................................................................8P5 Analysis the importance of employee relations in respect to influence HRM decisionmaking.........................................................................................................................................8P6 Key elements of employee legislations which create impact on HRM decision making....10M4 Key aspect of employee relations management and employment legislation that affectHRM decision making..............................................................................................................11D3 Critically evaluate employee relations and applications of HRM practices that inform andinfluence decision making in organisational context................................................................11TASK 4..........................................................................................................................................11P7 Application of HRM practices in work related context.......................................................11M5 Rationale of application of specific HRM practices ..........................................................12D3 Critically evaluates employee relations and application of HRM practices which influencedecision making........................................................................................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
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INTRODUCTIONHuman resource management is important aspect that helps to deal with different issuesrelated with development, compensation, performance management, wellness, benefits,employee motivation, etc. Therefore, HRM plays strategic role to manage people to maintainworkplace culture and environment. Furthermore, it also contains creativity and effectiveness tofocus on regulating operations and functions in systematic manner. Several responsibilities alsofall into major areas which defining and designing work to maximise productivity (McClanahan,Allison and Cinner, 2015). Present study based on JP Morgan which is an American multinational investment bankand deals in different financial services. It is one of the largest bank in the country and developcontinuous operations to perform different functioning at workplace. For gaining insight information of the present report, it covers purpose and functions ofHRM that can be applicable in workforce planning and resourcing (Sparrow and Makram, 2015).Furthermore, it will be explain benefits of different practices for employer and employee.Moreover, it helps to evaluate key elements of employee legislations that are applicable to thechosen business. At last, it provides discussion on applications of HRM practices in work relatedcontext. TASK 1P1 Purpose and functions of HRM that are applicable to workforce planning and resourcingHuman resource management can be defined as the process that can be describe formalsystem which devised for people within the enterprise. Responsibilities of human resourcemanager of JP Morgan fall into several areas such as staffing, employee compensation, etc.Strategic HRM means to create future oriented plan that helps to interact in competitiveenvironment to accomplish organisational goals. It also refers as process of crafting strategieswhich implement to gain effectiveness (Horwitz, Budhwar and Morley, 2015). Nature and scope of strategic HRMHuman resource management is fully integrated with strategy and accomplish needs ofthe firm.Policies coherent with different areas and across hierarchies within the JP Morgan. 1
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Human resource management follow different systems, practices, competitiveness, etc.that helps to develop positive performances in the chosen enterprise. Furthermore, it also helps to consider positive performance appraisal that require trainingand career development to make strategic HRM. HRM approachesThere are different kinds of approaches of human resource management of in a particularbusiness. In this consideration, following are different types of HRM approaches has beenexplained:Hard HRM: In this kind of approach, HR manager of JP Morgan treats employeessimply as resources within the organisation. Strong link with corporate business planning helpsto get them how much cost is needed. With this consideration, HRM can be focus on workforceneeds of the organisation with recruit and manage accordingly. Key features of this process isdeveloped with short term changes in employee numbers, minimal communication from the topdown, little empowerment delegation, etc. (Kavanagh and Johnson, 2017).Soft HRM: Furthermore, in this regard of approach, JP Morgan treats employees as themost important resource at workplace to gain competitive advantages. Hence, employees aretreated as individuals to accomplish needs which planned to concentrate on roles, rewards,motivation, etc. Key features of this process has been developed with strategic focus on longerterm workforce planning, strong and regular two way communication, etc. (Engert, Rauter andBaumgartner, 2016).Functions of HRMCompensation and benefits: It is one of the important function of HRM which is relatedwith managing personnel, setting performance standards, setting transparentcompensation policies, etc. (Horwitz, Budhwar and Morley, 2015).Training and development: In JP Morgan, it is essential for HR manager to providetraining with different tools and techniques. Main reason to provide training increasingemployee commitment. Training can be conducted in two different ways such as on thejob and off the job (HRM functions, 2018). Selection and staffing: Within the chosen organisation, another important function of HRmanager is selecting and staffing employees. In this way, right candidates selected tomake effective results with contributing participation in business. 2
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