P1 Purpose & Functions of HRM Applicable to Workforce Planning
Added on 2020-10-22
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HUMAN RESOURCEMANAGEMENT
Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1............................................................................................................................................3P1 Purpose and functions of HRM applicable to workforce planning...................................3M1 Functions of HRM assist in providing talent and skills...................................................5P2 & M2 Strengths and weaknesses of different approaches to recruitment and selection...5D1 Critical evaluation of strength and weakness of approaches of recruitment and selection7TASK 2............................................................................................................................................7P3 Benefits of different HRM practices for employer and employee....................................7P4 Effectiveness of different HRM practices in terms of profits and productivity................9M3 Critical evaluation of strength and weakness of selection and recruitment with specificexamples...............................................................................................................................11D2 Critical evaluation of HRM practices and application...................................................11TASK 3..........................................................................................................................................11P5 Importance of employees relations in respect of influencing HRM decision making....11P6 Key elements of employment legislation and its impact on HRM decision making......12M4 Key aspects of employee relation management and employment legislation on decisionmaking..................................................................................................................................13D3 Critical evaluation of employee relations and application of HRM practices and itsinfluence on decision making...............................................................................................13TASK 4..........................................................................................................................................14P7 Application of HRM practices with some examples.......................................................14M5 Analysis of application of HRM practices in organisation............................................17CONCLUSION..............................................................................................................................17REFERENCES .............................................................................................................................18
INTRODUCTION Human resource management is an effective process of selecting, recruiting, impartingtraining and development, providing orientation, inducting employees etc. HRM is also amanagement function, concerned with maintaining, motivating and hiring people in anorganisation (Human Resource Management, 2018). In simple word, it is the procedures ofputting knowledgeable people to the actual task thereby creating more use of the workers'abilities and talent to accomplish the wanted objectives and goals. Main purpose of this report isto identify the importance of HRM and its impact on employee’s performance. In this report,given organisation is JP Morgan which is a financial service and American investment company.(Abdullah and Zulkifli, 2015). This assignment is based on different section which includesscope and purpose of HRM and effectiveness of the key elements of HRM in an organisation.Along with this, importance of employee relations and effect of Employment legislation onhuman resource management’s decision making is also determined in this project. Application ofHRM practices and its usefulness in the organisation is also included in this assignment. TASK 1P1 Purpose and functions of HRM applicable to workforce planning.According to the Edwin Flippo, human resource management is a planning, directing,organizing, controlling, directing of procurement, integration, compensation, maintenance,separation and integration of human resource to the end that organisational, social and individualobjectives are accomplished (Albrecht and et. al., 2015). Nature & Scope of strategic human resource management: - Strategic HRM refers to theeffective process of developing plans, practices and policies which support in accomplishingwanted objectives and goals of organisation within predetermined period of time. There are somescope and nature of strategic HRM which are determined as under: Strategic HRM gives a clear vision and target of business strategy for future activity andsuccess. SHRM play important role in developing plans and policies which is applied byemployees and line managers as their daily working operations. It will help in communicating information or data related to the internal strength andweakness of company.
Hard and Soft HRM: distinct organisation opts numerous different types of methods andapproaches in regard of accomplishing standard targets to meet the outcome. Here are mentionedsome of those: HARD HRM: It is belonging as an approach which is followed by the company in orderto treat its employees as resources like facilities, machinery etc. Beside this performance of theworkers are controlled to attain the competitive edge and maximum profit (Alfes and et. al.,2013). For example: Minimal communication, minimum wage, little delegation andempowerment etc. SOFT HRM: In this workers are considered as a main asset for an organisation which areimportant for accomplishing better outcomes and competitive benefit. This approach believesthat productivity, skilled and happy workforce put maximum efforts toward business operationand assist in maximising the profitability and efficiency of JP Morgan firm. For example: strongand regular two-way communication, flatter organisational structures, competitive pay structuree.g. share options, profit share etc. JP Morgan must apply “Soft HRM approach” as it benefits in attaining set targets andgoals easily. It is one of the best method because with the use of this company consider itsworkforce as a valuable or precious asset. This output in workers are happier and it leads toreduce in employee’s turnover. Purpose and functions of HRM: There are some purpose and functions of HRM in JPMorgan firm are determined as under: Recruitment and selection: It is a main function of HRM which is applied by the humanresource of the JP Morgan firm in recruiting best candidate's from pool of candidate's.Recruitment is a process which includes conducting interviews, developing job description,salary negotiation etc. Main goals and purpose of this process or function is to attract theknowledgeable applicants as well as to promote the unqualified applier to select themselves out(Baum, Schäfer and Kabst, 2014). Training and development: These are the indispensable function of HRM. It is the effortto enhance the actual and future performance and productivity of a worker by maximising thecapability of them through educating individual's skills in the specific subject. Main purpose ofthis HRM is to train all employees by organising meeting, conference and seminar to them.
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