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Managing Human capital and Leadership PDF

   

Added on  2020-12-24

16 Pages4457 Words429 Views
Leadership ManagementProfessional Development
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Managing Humancapital and Leadership
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ContentsINTRODUCTION...........................................................................................................................................3TASK 1..........................................................................................................................................................3Relevant HRM models and analyze the approach of the company to the management of its human resources ....................................................................................................................................................3TASK 2 .........................................................................................................................................................6Critically discuss the organization’s HR functions in relation to strategic human resource initiatives ........6TASK 3 .......................................................................................................................................................11Critically evaluate a number of HUMAN RESOURCE MANAGEMENT software programs and best softwarefor benefit for the company ......................................................................................................................11TASK 4........................................................................................................................................................12Discuss the characteristics of effective leaders of the organization..........................................................12REFERNCES ................................................................................................................................................15
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INTRODUCTIONHuman resource management is defined as that department of the organization that takecare of human resource or individuals working in the company. This provides marketcompetitive advantage for the company. This approach is made for maximizing employeeperformance in organization and achieve the strategic goals and objectives of the company(Alfes and et. al., 2013). Human resources includes individuals as well as group of individualswho work in the company and department for handling the resources related to workforce.Human resource management is used for explaining growth of an employee in the company.This is also known as personnel and talent management. In the following report, the companywhich is considered is Marks and Spencer. This is a big British multinational retailer that wasestablished in the year 1884. The company is headquartered in London, United Kingdom. Thiscompany was founded by Michael Marks and Thomas Spencer. This report consists of humanresource management models, HR functions and HR software programs. This report alsocontains characteristics of effective leaders by taking into consideration of various issues.TASK 1Relevant HRM models and analyze the approach of the company to the management of itshuman resources There are some major models of Human resource management and these help in buildinga good environment for employees in the company. The models of HRM helps in providing ananalytical framework for analyzing Human resource management. For instance, the Humanresource management takes care of competence,strategic choice levels, stakeholders, situationalfactors etc (Budhwar, and Debrah, eds., 2013). These models demonstrates various HRMpractices and it is a distinctive approach for selecting and training of employees. These providesa characterization of the human relations which maintains variables and relationship. Thedifferent HRM models followed by different organizations are The Fombrun model, TheHarvard model, the guest and the Warwick model.
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The Fombrun, Tichy and Devanna Model – This is the first human resourcemanagement model which was proposed in the year 1984. This model focuses on functions ofHRM and their inter-relatedness. The main functions of human resource management areselection, appraisal, development and rewards. All these components help in managing humanresource of the company and help in increasing efficiency and productivity of the company(Chelladurai, and Kerwin, 2017). The limitation of this model is that it is not complete becauseit emphasizes on basically four functions of human resource management and it does notconsiders contingency and environmental factors which affects functions of Human resourcemanagement. The Harvard model– The Harvard model is considered to be comprehensive and itconsists of basically six components that are present in the Human resource management. Thereare different dimensions of HR management included in this model such as situational factors,stakeholder’s interests, HR outcomes, long term consequences, HR policy choices and feedbackloop through. The output of these flows directly to the stakeholder and organization. TheHarvard model framework is shown below- Stakeholder’sinterestsSituationalfactorsHRM policiesHRMoutcomesLong termconsequencesShareholdersManagementEmployee groupsGovernmentCommunityWorkforcecharacteristicsManagementphilosophyBusiness strategyand conditionsTasksTechnologyLabor marketHuman resourceflowReward systemsWork systemsEmployeeinfluenceCompetenceCosteffectivenessCongruenceCommitmentIndividual wellbeingOrganizationaleffectivenessSocietal wellbeing
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