Managing Human Capital and Leadership Assignment - (Solved)

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MANAGING HUMANCAPITAL ANDLEADERSHIP
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Relevant Human Resource Models and analysing the approach of the company to managementof human resources......................................................................................................................1TASK 2............................................................................................................................................5Human resource functions in relation to strategic human resource initiatives............................5Recommendations........................................................................................................................9TASK 3............................................................................................................................................9HRM Software programs.............................................................................................................9TASK 4.........................................................................................................................................11Characteristics of effective leaders............................................................................................11CONCLUSION..............................................................................................................................12REFERENCES.............................................................................................................................13
INTRODUCTIONHuman resource can be defined as a function within an organization that helps inmanaging and dealing with workforce of the company for the development of the organization(Chelladurai and Kerwin, 2018). It is important for each and every organization to manage andmaintain their human capital by acquiring, managing, training as well as retaining employees sothat they can effectively participate within all the organizational processes. In simple words itcan be fined as upgrading existing employees skills and knowledge such that their overallperformance can be improved is called human resource management. Human resourcedepartment within an organization focuses on three main categories which are: workforcemanagement, acquisition and workforce optimization. This assignment will lay emphasis ondifferent kind of HRM models, analyse approaches used by the company in order to managetheir human resource, various human resource functions in relation to strategic human resourceinitiatives, evaluate various kind of HRM software programs and lastly effectiveness ofcharacteristics of leader will be explained. Organization that will be focused within thisassignment is Morrisons which is a retail organization with largest chain of supermarket inunited kingdom.TASK 1Relevant Human Resource Models and analysing the approach of the company to managementof human resourcesHuman resources models consists of various human resource activities which help inmanaging the human resources effectively. When human resource activities are dischargedeffectively it will help in improving the performance of the employees in an organisation.Human resource models provides the proper framework for studying and managing humanresources in an organisation. HR. models also provides the characterisation of HRM which helpsin establishing effective human resource relationships in Morrison. There are various HRMmodels which can be used by Morrison for improving its human resource practice are as follows:Harvard Analytical Framework:This HR model consists of 6 components which starts fromlift with stakeholders interest which may include management, shareholders, government,employees, etc. Stakeholders interests defines the HR. policies. Within the same time it is thesituational factors which have influence on stakeholders interest. Situational factors like unions,workforce, shareholders etc. But situational factors and stakeholders of the organisation help in1
developing the HR policies which form the core HR activities of the organisation such asrecruitment, selection, staffing, training and reward systems in an organisation (Guest, 2017). IfHR. policies are formed well it results in the positive outcome for Human ResourceManagement. The Outcomes of HRM can lead to the long term consequences for theorganisation and can result in the profitability of the business. Harvard framework takes moreholistic approaches to human resource which includes various levels of outcome as shownbelow:Illustration1: The Harvard Framework for HRM(Source:5 Human Resources Models Every HR Practitioner Should Know.2019)Matching Model:This model was developed by Tichy, Fombrun and Devanna in Michiganschool. This model of HRM mainly focuses on the four functions and interrelatedness betweenthem. Four functions of this model are selection, appraisal, development and rewards (5 HumanResources Models Every HR Practitioner Should Know,2019). These four sections of this modelare considered as most common components of HRM which contributes towards theorganisational effectiveness. This model indicates that HR system as well as organisationalstructure should be managed in such a way that it is appropriate with the strategy of theorganisation.5 P model:Five P model was developed by Dr. Mildred, Dr. Leslie and Chris White which is astrategic management tool which aligns five variable such as Purpose, Policies, Processes,People and Performance with the organisation and its operations.2
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