Impact of HRM Practices on Profit and Productivity

HUMAN RESOURCE
MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
P1:Define Human Resource Management its Functions............................................................1
P2: Describe Strengths and Weaknesses of Recruitment and Selection Process........................2
P3 Describe benefits of HRM practices for employees and organization..................................4
P4 Impact of efficient HRM practice for Profit and Productivity-.............................................5
P5 Describe how the relationship of employees influences decision-making of HRM..............6
P6 Explain the rules and regulation that need to obey for HRM decision-making.....................7
P7 Preparation of Job Advertisement, Interview Question, Process of short-listing Applicant,
and practices for selection-..........................................................................................................8
CONLUSION................................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Human resource management is the practice that is used by the organization to achieve
the better performance of the business. The chosen firm of the report is Mark and Spencer
multinational retailer which is situated in London. The study will explain the scope and purpose
of human resource management that is used by the organization to fulfil their business objectives
in terms of talent and skills. Further it will present the key elements of human resource
management in the Mark and Spencer. The study will also discuss the external and internal
factors that affect the human resource management decision-making that also includes
employment legislation. Lastly it will evaluate the human resource management in terms of
work related context.
MAIN BODY
P1:Define Human Resource Management its Functions
Human Resource Management(HRM)- This is very important function of an
organization in which Planning for human resource are made (Boon, Den Hartog and Lepak
2019). HRM is responsible for recruiting, selecting, training, assessing and motivating
employees in the organization.
Best Fit vs Best Practice approach in HRM
Best fit approach is the one that providing result for company on the other best practices
are those which is universally accepted and applicable for all. For en example one company in
UK start employing fresh graduates and part-timers and train them to get work. As the outcome
cost for employment will decrease with same production capacity (Sekhri and Cheema, 2019).
On the other hand best practices in which recruitment for best person for right job is done that
will be not cost-efficient for them as best fit.
Hard and Soft Model of HRM
Hard HRM- In that employees are just a normal person who is performing duties for
remuneration. In this type of model employees retention ratio is very low, lower level of
opportunities to growth, less empowerment for employees. The Best benefit of this that owner
will get better control.
Soft System- In this model employees are the essential recourse for company and give
feel as part of organization. HRM always think for carrier progression and value creation it
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focuses on long term, employee empowerment, system for training and opportunities for
appraisal.
Functions of HRM-
Recruitment and Selection- This is the primary and most critical function of HR it that
new employees for organization is selected. This is difficult task to perform because selecting a
right person for right job title to fulfill organization requirement.
Training and Development- Another function of HR is to find the need of training to
under-perform employees and prepare training model to get optimum use and lead to developed
their professional carrier growth.
Performance Management- It can be manual of software based system to analysis the
performance to start train them. Make change according to get improvement in production and
finding the best performances for appraisal are main duties that perform.
Remuneration and Appraisal- In this HRM need to focus on compensation and carrier
growth. Employees are working for remuneration and it is the main point of motivation for them
so this function is very important. In this increment in salary and position is provided to them on
the basis of are need to be assigned.
P2: Describe Strengths and Weaknesses of Recruitment and Selection Process
There are mainly Two type of Recruitment that a Mark and Spencer(M&P) Plc can follow-
Internal Recruitment- In these employees are selected from the organization itself
mainly three types of sources
1. Transfer- employees are transfer from one department to another one it is an easy
process and require less time and money (Mira, Choong and Thim, 2019). Mark &
Spencer is big company that have 78000 employees working in it this method will be
good for them.
2. Promotion- In these employees and organization both are benefit, employee get
promotion and company will need to search for other talent from outside. The selected
company always provide yearly based promotion. However, need accrue in middle time
they also provide promotion.
3. Re-employment- company always have data base of former employees, so if need of
accrue for then former employees can be rehired. Company has good retention ratio but
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