Principles & Factors of Human Resource Management : Report

Added on - 06 Jan 2020

  • 16

    Pages

  • 5153

    Words

  • 129

    Views

  • 0

    Downloads

Trusted by +2 million users,
1000+ happy students everyday
Showing pages 1 to 4 of 16 pages
Human ResourcesManagement
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Purposes and functions of HRM...........................................................................................1P2. Strength and weaknesses of different recruitment and selection approaches.......................3TASK 2............................................................................................................................................4P3. Benefits of different HRM practices within an organisation for employer & employee......4P4. Evaluating the effectiveness of different HRM practices.....................................................6TASK 3............................................................................................................................................7P5. Analysing the importance of employees relations in context with HRM's decision -making process............................................................................................................................7P6. Key elements of employment legislations...........................................................................8TASK 4............................................................................................................................................9P7. Application HRM practices within the work related context...............................................9CONCLUSION..............................................................................................................................10REFERENCES................................................................................................................................1
INTRODUCTIONFor every organisation the main resource accounts to be the workers of it. Thedepartment of Human Resource Management is the responsible entity for allocating theseworkers to their suitable and correct positions within the organisation with the motive ofenhancing the productivity as an outcome (Alfes and et.al., 2013). So, having an efficient HRMdepartment accounts to be the most important requirement of an organisation.Barclays is one of the leading firms in the Canary Warf of East London. Basically, it ismulti national bank providing various types of services in finance. Its working areas expandtowards the sectors of wholesale, retail, investment-banking along with managing of wealth.Credit cards and lending of mortgage is also included.In order to fulfil the business objectives of a firm, HRM plays a key role. Henceforth, toevaluate its effectiveness, the report lays focus upon the various principles & factors related toHuman Resource Management in context with work-related areas.TASK 1P1. Purposes and functions ofHuman-Resource DepartmentDefining Human Resource Management:The formal type of system assigned for managingthe workforce of particular organisation is described by the term Human Resource Management(Anderson, 2013).Nature of Strategic Human Resource Management:Its presence in all firms makes it persuasive.Focus is majorly laid upon outcomes.Employees are provided full assistance via it to enhance their potentials.It integrates people for the main motive of obtaining effective results.It is highly disciplined.Scope of Strategic Human-resource Managing:A wide scope is provided by strategic HRM asdiscussed below:Personal-aspects:The planning, recruiting, placing, transferring, promoting, training,productivity, etc (Armstrong and Taylor, 2014). of manpower or workforce come underthe main concerns of personal aspects.1
Welfare-aspects:In it, the working conditions of employees and associated amenity aredealt with. It might include rest & lunch rooms, crèches, canteen, medical-assistance,recreational facility, etc.Industry-relations-aspects:It takes in consideration joint-consultations, managing ofunion's relations, settlement of arising dispute, etc.'Hard and Soft HRM ‘:Hard HRM:Within the hard approach of HRM, employees are being treated as if they arebusiness resources just like machines or a building. However, it assists in establishing a stronglink with the corporative planning of business. This includes finding out the required resources,their associated costs and the way in which they could be get. Through it, the needs &requirements of workforce are identified and accordingly on the basis of it recruiting andmanaging is done.Soft HRM:Within the soft approach of HRM employees are being treated as one of the mostimportant resources for gaining a competitive advantage (Brewster and et.al., 2016). Theemployee is provided treatment like an individual and in accordance to their needs &requirements are accordingly planned out. The concentration is fully done upon needs &requirements of individual employees. Since focus is entirely given to the needs andrequirements of people the employee-turnover rate is low in organisations which imply softHRM.Contrasting both the approaches:The hard approach lays more focus towards making theworkforce cost effective. This ensures that decisions are taken as quickly as possible by makingsenior-managers main focus. The needs of employees are not address properly. This might turnout to cause more absenteeism & employee-turnover.On the other hand, the soft approach lays major focus upon the needs of employees. Thisprovides motivation to employees to enhance their efficiency by providing them ample benefits.But this leads towards disadvantage in competing with other firms.Since Barclays is a multinational organisation of Canary Wharf, it has faces toughcompetition from Citigroup, Clifford Chance, Infosys, J.P. Morgan, etc. So, in order to gaincompetitive advantage, it makes use of Hard HRM approach. Since it is a financial & bankingorganisation, efficiency in managing the resources need to be there. So senior managers areresponsible for taking quick decisions related to finance.2
desklib-logo
You’re reading a preview
Preview Documents

To View Complete Document

Click the button to download
Subscribe to our plans

Download This Document