Managing Human Capital And Leadership Solved Assignment

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MANAGING HUMANCAPITAL AND LEADERSHIP
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Explaining various models of HRM and the approaches that the company must adopt formanaging its human resources....................................................................................................1TASK 2............................................................................................................................................3HR functions of organisation and recommendations to improve these functions......................3TASK 3............................................................................................................................................8Analysis of HRM software programs which are beneficial for the organisation........................8TASK 4............................................................................................................................................9Characteristics of an effective leader..........................................................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONEmployees are the lifeline of any organisation. An organisation cannot survive if thereare no employees. Employees need to be motivated from time to time in order to develop theirsense of attachment towards the organisation. Human capital management means man ageingemployees of the company to increase productivity of the business operations of the company. Itstarts from recruiting the employees, train them, manage and retain them. For betterunderstanding of HR practices the report will take Tesco and will show relevant HRM modelsand approach of company to mange its employees. Further, the report will discuss variousfunctions of organisation and evaluate different software programmes which can be used by thecompany for efficiencies in its operations and managing human resource. At last, the report willinclude various characteristics of effective leaders in relation to issues identifies in previoustasks.TASK 1Explaining various models of HRM and the approaches that the company must adopt formanaging its human resources.There are various models that the company adopt for managing its human resources. In the studythe two major models that include Harvard and Guest model are to be analysed. Through theseHRM models, company could be able to serve many purposes as they facilitate the analyticalframework from making the study on the management of the human resource such as situationalfactors, competence, stakeholders and the strategic level of choice. These models provide for thecharacterization in the management of human resource which in turn helps in establishingvariables and the relationship that required to be studied.Harvard framework- This model is composed of Six major components that are asfollows-The model begins with focusing on the interest of the stakeholders that involvemanagement, government, supplier, shareholders, employees, investors etc (Guest,2017). The policies defined by the HR must be based on thestakeholders interestso thatobjective of the wealth can be attained by the company.In the next step thesituational factorsare taken into account that plays a significant rolein respect of influencing the interest of the stakeholders. The situational factors likeunions, workforce characteristics and the other laws relating to the stakeholders.1
The above two factors influence the policies of the outcomes that are generated by thehuman resource management. The core activities of the HR department such asrecruitment, selection, training, development and performance management highlydepends upon these two factors as per the Harvard model.Effective research on these factors by the Human resource in making the strategies orpolicies in context of the organizational goals could lead to the favourable outcomes forthe enterprise as well as human resource (Ferrari, 2017). Positive outcome in the sensethat many purposes like retention, competence, cost-effectiveness and the commitment.These positive results will help the firm in dealing with the long term uncertainties andcould achieve its long run objectives effectively and efficiently. It facilitates theorganization in achieving the growing success in the long run.Thus, this model considers more of the holistic approach relating to human resource includingthe various level of the outcome.Guest model- It is the model that had been introduced by David Guest during the year1997 and has been claimed as superior to the other models. Guest model claimed that manager ofthe human resource has particular strategies for starting with their work, which in turn demandfor the certain practices and at the time of its execution results in the outcomes. The resultantoutcome involve financial, behavioural and the performance related rewards. It emphasizes onthe logical sequence for the six major components that are strategy, outcomes, performance,behavioural, practices and the financial consequences (Shen and Benson, 2016). By lookingindirectly, the financial results majorly depends upon the performance of the employee which inturn is the outcome of the action oriented behaviour of employee. The behavioural outcomes areconsidered as the result of the quality, commitment and the flexibility in the performance of thestaff. Theses outcxome are in turn influenced by the HR practices. The practices followed by theHR must ensure that it is in tune with their strategies that had been aligned invariably with theorganizational strategies. It has also been claimed that the Guest model is superior against theother which is partly justified in terms as it maps out field for the human resource managementand helps in delineates the outcome and the inputs. As the dynamics in relation to themanagement of the people are complex, that no other model including this model as well couldcapture it comprehensively.2
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