Recruit The Skilled And Capable Employee's Assignment

   

Added on  2021-02-19

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Human ResourceManagement
Recruit The Skilled And Capable Employee's Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Function and the purpose of HRM..............................................................................................1Strength and weaknesses of several approaches that are required for recruitment and selection.....................................................................................................................................................3TASK 2............................................................................................................................................5HRM practice in an organisation which provide benefits to employee's and employers...........5HRM practices that help an organisation to increase in profit and productivity........................7TASK 3............................................................................................................................................8Importance of employee relations in order to influencing HRM decision making.....................8Elements of employee legislation and its impact on decision-making of HRM.........................8TASK 4............................................................................................................................................9Application of HRM practice for a work related context...........................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
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INTRODUCTIONHuman resource management introduces as an effective practice of hiring, selecting andmanaging an organisation's workers. The main agenda to implement HRM in an organisation isto recruit the skilled and capable employee's through the process of recruitment, selection andtraining. This present report is written from the perspective of Merrill Lynch Firm which issituated in central London. It offers services for making an investment and wealth managementfor the customers. Moreover, it also provide services for brokerage as well as security dealings(Wright, Sturdy and Wylie, 2012). This project highlights purpose and scope of human resourcemanagement along with internal and external factors. Along with this they key elements ofhuman resource management will be covered in this report. At last practices for human resourcemanagement and internal and external factors that impacts on workforce of organisation is alsodiscuss in this report. TASK 1Function and the purpose of HRMHuman resource manager is the person who is responsible to manage the work-force ofthe organisation. For attaining organisational goals, HR manager develops effective process ofproviding training, recruiting and developing the skills of the employee's. Moreover, it is a set ofregular activities or practice which assist employee's to understand the nature of their work. Withimplement of effective HRM approaches, an organisation develops different goals due to whichit is easy to regulates all departments of the Merrill Lynch. Some function and purposes of theorganisation are mention as follow:Maintaining Good Working Conditions- It is the responsibility of the human resourcemanagement to generate healthy working environment for the employee's. Such as safe,clean and hygienic environment of the organisation. This also helps them to motivate theemployee's due to which they are able to perform their work with more effectiveness. Incontext of Merrill Lynch, HR officer came up with welfare concept in which theyformulates effective HR policy that helps in maintaining good environment at workplace(Tenhiälä and et. al., 2016).Managing employee relations- Employee's are known as the pillar of the organisationwhich signifies that they play an important role for completing organisational activitiesand attaining objectives. The concept of employee relationship is a broad concept thatderives an HR manager to adopt positive employee relations in the organisation. HRofficer of Merrill Lynch organize different activities like formal meetings and informal
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parties that helps management to know employee at personal as well as professionallevel. Well designed employee policies help promotes healthy and balanced relationbetween employee's and the employer. Training and development- It is the critical function of human resource managementthat boost the skills, capabilities and effectiveness of the employee's by providingeffective training to them (Renwick, Redman and Maguire, 2013). HR of Merrill lynchexecutes this function for all departments as it works as an attempt for improving thefuture performance of the employee's. In order to conduct them properly, they providetraining and educational programmes to the employee's for developing their skillsaccording to their specific roles. Total rewards- The HR department of the organisation is responsible for acquiring andadministering an attractive compensation or benefits package for the employee's. Withinthe context of Merrill, they attract their employee's through providing high salaries,insurance, compensation as well as reimbursement due to which it is easy for them toretain their employee's for a longer time period. Further, it is beneficial because it helpsthem to offer effective service package to employee's according to their skills.Purposes of the HRM Staffing needs- Human resource management is known as the department which isresponsible to recruit employee's for the organisation. It includes different function suchas determining job duties, skills, qualification and other activities which are required forspecific position in the organisation. Personnel screen applicants, references check,administrating test are some of the mandatory aspects which are required for determiningthe skills that are needed for a specific position. These all tasks are performed by HRMdepartment of the Merrill Lynch to ensure that they fulfil the needs of organisation andemployee's in appropriate manner.Performance appraisal- It is the responsibility of HRM department to maintain recordsof employee's performance through observing their work. It determines that HR officeris responsible for recording and maintaining the entire performance of the employees. Inevery organisation, this process occurs on annual basis (Lasagni, 2012). For MerrillLynch, HRM department performs different roles but the main function that is performedby it is related with performance appraisal. It conduct this process in a simple andstraight method as to conduct them on fair basis. Law compliance- All organisations are responsible for the safety and security of theiremployee's. Therefore effective policies are formulated by HRM department for ensuringthe interest of their employee's in organisational activities (De Medeiros, Ribeiro and
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