Role of HR and Financial Management

HR and Financial
Management

Table of Contents
INTRODUCTION................................................................................................................................1
Role of Human resource in an organisations..............................................................................1
REFERENCES.....................................................................................................................................1
INTRODUCTION...............................................................................................................................2
Importance of financial management:.........................................................................................2
REFERENCES.....................................................................................................................................6

INTRODUCTION
Human resource is a set of people who make workforce of company in order to perfom work
effectively. The report focus on Mark and Spencer, which is multinational retailer company and
has its headquarter in London, England. M&S has now become well known on British high street
as it caters wide range of customer requirements. Company also acheive developemt and growth
as company has abiltiy to satisfy ever changing requirement of cusotmer base. The report
elaborate about role of HR and theories related with motivation and HR.
Role of Human resource in an organisations.
Human resource is used to describe who work for company in selecting or recruiting potential
candidates. HR plays vital role in company that includes recruiting and selecting, training and
development and screening (Macke and Genari, 2019). HR manager coordinate workforce to
best use of employees' skills and talent and try to resolve issues that occur between employees
and management. The main role of HR which is crucial for company and its growth will be
discussed below:
Employees Motivation
Every company wants to see that its employees flourish and do their best. M&S must provide
them all necessary tools or equipments that they need to succeed. Employees are the most vital
aspects of any organisation for its success (Nieves and Quintana, 2018). Therefore, employees
need to be motivated in order to engaged, productive and effective at work. HR managers should
responsible for maintaining positive environment so that employees feel more secure and
motivated and do their extra in order complete their job effectively.
Motivation
Motivation refered a process that try to guide and retain goal oriented behaviour among
employees. Motivation is action of willingness or need that requires for satisfaction. These
desires can be satisfied through influence of lifestyle, culture or society.
Herzbergs 2-way theory :
Herzbergs two way theory tries to include motivation factor at workplace. This theory includes
two main factors like motivators and hygiene factor. According to this theory, motivators and

hygiene are important factors to determine motivation in workplace.
Motivational factors – This factor is essential to encourage employees to work harder so that
they perform better and increase efficiency. Motivational factors lead to develop positive
satisfaction among employees (Njoku, 2020). These factors refers as satisfiers and M&S must
include this in performing a particular job because employees find this factors intrinsically
satisfying. Motivators factors includes-
Sense of Achievement - At M&S, workforce should develop sense of achievement and it usually
depend on job.
Recognition - Employees must be recognised or praised at workplace for their accomplishments
or achievement by managers.
Growth opportunities – M&S must provide advancement and growth opportunities so that it
motivate employees to perform well.
Responsibility – Employees should hold themselves accountable for their work and managers
should provide them ownership of work. Manager ensure to decrease control but maintain
accountability.
Hygiene factor – This factor provide satisfaction to employees but only for short duration.
However, hygiene factor is essential in M&S as its non existence will lead to dissatisfaction at
workplace (Aguenza and Som, 2018). This factor also refer as maintenance factor because they
are required to control dissatisfaction. Hygiene factors also identifies as physiological needs
which employee wanted to be fulfilled. This factors includes following elements:
Status - M&S must determine status of its employees and it should be familiar or retained.
Job security - M&S must provide job security to all its employees. For example, provides
control access to gates and security officers.
Working conditions - Working conditions at M&S need to be clean and safe for example, tools
and equipments must be updated.
Maslow's Hierarchy of Needs theory -
Maslow's hierarchy needs theory is explaining human motivation is based on various levels of