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Human Capital Management and Leadership Pdf

   

Added on  2020-10-22

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MANAGING HUMANCAPITAL ANDLEADERSHIP

Table of ContentsINTRODUCTION ..........................................................................................................................3LITERATURE REVIEW ...............................................................................................................3Relevant HRM Models and approach of company to manage its Human resource...............3TASK 2............................................................................................................................................5Critically evaluating the organisation’s HR functions ..........................................................5TASK 3..........................................................................................................................................10Critical evaluation of HRM software programs...................................................................10TASK 4..........................................................................................................................................11Characteristics of effective leaders.......................................................................................11CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14

INTRODUCTION Managing Human capital in the organisation assist in increasing the performance andprofitability of the firm. The Human resource management assist in competing more effectivelyin the market. In this assignment, Tesco will be considered which is involved in retail sector .The assignment will include the information regarding Human resource management model andalso the approach which is being followed by the organisation in order to manage its humanresources. Moreover, it will provide understanding of the HR function. It will also include theinformation regarding HRM software programs which are available off the shelf. Furthermore, itwill include the characteristics of effective leaders. LITERATURE REVIEW Relevant HRM Models and approach of company to manage its Human resource According to the views of (Chen and et.al., 2016), the human resource managementmodel consists of the HR activities which assist in managing the workforce of the organisationdue to which the firm's objectives are achieved effectively and efficiently. It assists inidentifying the different factors related to the firm which consist of situational factors,stakeholders etc. The Fombrun, Tichy and Devanna Model of HRM it is based on the fourfunctions that include selection, appraisal, development and rewards. These functions of HRassist in achieving the goals and objectives of the firm. On the Contrary (Mayo, 2016) statedthat, The Fombrun model is not effective because it does not consider the environmental andcontingency factors. Tesco with the help of Fombrun Model will be able to perform its HRMactivities on the basis of which it will be able to manage its workforce. By using this ModelTesco will be able to identify the different factors which affect the management of the humanresources. In the views of (chuckert and et.al., 2018), The another HRM Model is Harvard Modelwhich consist of six components that include stakeholders interests, situational factors, HRMpolicies, HRM outcome and long-term consequences. As per the Harvard Model, the situationalfactors consist of workforce characteristic, business strategy, labour market etc. However, thereis another model of HRM which is known as the guest model which claims to be more effectiveand superior than the other models of Human resource management. As per this Model, there arevarious strategies which are being formulated by the HR manager in order to achieve certaingoals of the firm. The outcome consists of behavioural, performance, financial rewards etc. The

Guest model consist of the six components which include HR strategy, HR practices, HRoutcomes, behavioural, performance result and financial consequences. The claim as per theGuest model which is that it is superior than the other models of Human resource management ispartially justified. The management of the people in the organisation is so complex which cannotbe captured by any model including the Guest model of Human resource management. Tescoby using the Guest model for human resource management will be able to identify the strategies,policies and other component which can helps the firm in managing its human resource. As per the views of (Noe and et.al., 2017), there is another model of Human resourcemanagement which Warwick model is. There are five elements as per this model that consist ofOuter context, inner context, business strategy content, HRM context and HRM content. Thebenefit of this model is that it determines the environmental influences on human resourcemanagement. It assists in identifying the relationship between external and environmental factorsand identify the reason how human resource management is able to adapts the changes.TheHuman resource management models are based on the activities which are being performed bythe Human resource manager in order to achieve the set target and objectives of the organisation.The Human resource management of Tesco with the help of Warwick model will be able tounderstand the environmental factors which have their impact on the human resourcemanagement in their company. As per the views of (Manuti and De Palma, 2016), Human resource management modelassist in performing the HR activities in the effective and efficient manner in order to achieve thegoals and objectives of the firm. The Harvard Model include the stakeholders interest. Thestakeholders of the Tesco consist of management, employees, shareholders etc. The situationalfactors influence their interest. It consists of workforce characteristics, unions etc. The situationalfactors and the stakeholder interest influence the HRM policies. The core activities which arebeing included in this consist of recruiting, training and reward system. (Leroy and et.al., 2018) sought to analyse the fact that, human resource management hasvarious different approaches like hard HRM and soft HRM. Soft human resource management isan effective approach which focuses on effectively treating the employees. A strategic approachto the management focuses on formalizing the plan, objectives and activities of the Tesco plc.Which mainly focuses on developing the strategic plan and take necessary decision. (Chen andet.al., 2016) investigated and established the fact that, hard approach to the management focuses

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