Report on Human Resource Management of Lloyds banking group

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Functions of HRM workforce planning along with purpose.............................................1
P2 Strengths and weaknesses of various approaches to recruitment and selection................2
TASK 2............................................................................................................................................4
P3 Benefits of different HRM practices for employer and employee ...................................4
P4 Effectiveness of HRM practices to raise organisational profit and productivity..............5
TASK 3............................................................................................................................................6
P5 Importance of employee relations in respect to influencing HRM decision-making.......6
P6 Key elements of employment legislation and its impact upon HRM decision-making....8
TASK 4..........................................................................................................................................10
P7 Application of HRM practices........................................................................................10
CONCLUSION..............................................................................................................................12
REFRENCES.................................................................................................................................13

INTRODUCTION
In every kind of organisation, human resource management plays important role in taking
care that workforce is competent and skilled. Recruitment, selection, induction, compensation,
training and development are various tasks performed by them. They should distribute job
among manpower in according to their skills and knowledge, so that individuals are able to
perform activities in proper manner (Huselid and Becker, 2011). Present report is based on
Lloyds banking group, which is popular financial service company of United Kingdom.
Employer of company constructed relationship with staff members; to keep them motivated and
dedicated towards duties assigned. By framing policies and strategies through which workers get
positive working environment. This benefit firm to make employees perform activities and
accomplish duties within specified time frame.
TASK 1
P1 Functions of HRM workforce planning along with purpose
Arrangement of most qualified persons having desired skills and capabilities at right job
in a specific time is referred as workforce planning of a company. This setting of workforce has
done by HRM of an organisation. Managers in this take responsibilities of managing entire
functions as well as determines policies for providing benefits to the employees in context with
company. They always engage with employee engagement and facilitate innovative & creative
ideas to the enterprises (Budhwar and Debrah, 2013). Each part of activity of HR has own
importance from which main objectives is to fulfil company's requirement by recruiting and
selecting the desired candidates.
Definition of HRM: According to Becker, Human resource management is a practice of
staffing, organising, planning, hiring and deploying in an organisation. The main role of this
department is to make effective and efficient use of manpower in a company so that they can
contribute their efforts in the achievement of business goals and objectives. Human resource
management of all type of businesses whether retailing, manufacturing or banking sector like
Lloyd Banking Group performance same type of functions with different purpose like: -
Main purpose of HRM of Lloyd Bank is to provide customer satisfaction and get their
retention. To make effective customer services, managers provide necessary training
programmes for its workers so that they become able to achieve the desired goals. For this
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achievement, this bank provides financial and non-financial compensation to its employees.
Wages, salaries, bonuses and insurance like pension, retirement plans are part of financial
compensations. While non-financial ones include job satisfaction process. Concerning with this
procedure, managers include appraisals system also. Along with this, purpose of HRM is to
create better organisational culture so that entire tasks of business operations can be managed in
a systematic manner. In Lloyd Bank, manager concerns more on maintaining positivity in
atmosphere culture also.
Functions of Human Resource Management
HRM performs various activities in an organisation along with many activities in order to
achieve business objectives in a limited period of time. Their main function is to manage people
at workplace and provide them several benefits in order to gain their productivity as well. In
context with Lloyd Bank performs following task to increase sales performance as well as
provide effective service to customers:- Recruitment and selections procedures: The main function of HRM in an enterprise like
Lloyd Bank is recruitment and selection procedure. In this process, they take various
activities and used several methods of recruitment to hire best talented people at
workplace.
 Employee relations management: Employees are the most valuable part of an
organisation so, managers are used to provide them several benefits. Along with this, they
always try to engage workers in group in order to develop their relations with each other.
Working in team help them to share views and opinions with each other. If workers have
good relations then they will accomplish a task in better manner as well as on time.
 Training and learning sessions: This process help workers to enhance their skills and
knowledge in a particular field. Through this they can understand roles and
responsibilities in a firm and work in a desired manner. HR managers of Lloyd Bank
provide them apprentice training to train employees.
P2 Strengths and weaknesses of various approaches to recruitment and selection
Every organisation requires best talent of workforce for which they take many processes
according to their requirement. This procedure of choosing a right candidate having desired
abilities and qualifications is said to recruitment process (Chelladurai and Kerwin, 2017). It
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