Human Resource Management Report: JP Morgan and Canary Wharf

This report delves into Human Resource Management (HRM), focusing on workforce planning, recruitment, selection, and the benefits for both employees and employers within the context of JP Morgan and Canary Wharf. The report begins by defining HRM and its strategic importance, particularly in workforce planning and resourcing. It then evaluates the strengths and weaknesses of internal and external recruitment methods and selection processes. The analysis extends to the benefits of HRM practices, such as training, motivation, and job satisfaction, for employees and employers alike. It also assesses the effectiveness of HRM in enhancing productivity and profitability, and examines the importance of employee relations and employment legislation in HRM decision-making. The report concludes by highlighting the practical applications of HRM practices in a work-related context, providing a comprehensive overview of the subject.

Human Resources
Management

TABLE OF CONTENTS
INTRODUCTION ...............................................................................................................................3
TASK 1.................................................................................................................................................3
P1 Purpose and function of HRM applicable to workforce planning ........................................3
P 2 Strengths and weaknesses of different approaches to recruitment and selection .................4
TASK 2.................................................................................................................................................6
P3 Benefits of HRM practices for both employees and employers ...........................................6
P4 Effectiveness of HRM practices in relation to increase productivity and profits of firm .....8
TASK 3 ................................................................................................................................................9
P 5 Importance of employee relation in terms of impact on decision making of HR ................9
P 6 Key elements of employment legislation and its impact on decisions making of HRM ...10
P 7 Application of human resource practices ...........................................................................12
CONCLUSION .................................................................................................................................14
REFERENCES .................................................................................................................................15

INTRODUCTION
Human resource management (HRM) is the strategic concept to the effective administration
of personal in company, so that they aid firm in gaining competitive advantage. This division is
responsible for overseeing, implementing policies of employee benefits, hiring, training,
development and performance appraisal as well as rewarding to workers. Human resource
management also concern about organizational changes and industrial relations (Ahmed, 2015).
This study is based on JP Morgan Firm. It is commercial and investment banking institution. Also, it
is predecessor of three of the largest banking organisations in the world. This assignment is also
based on Canary Wharf firm. It is commercial estate on Isle of Dogs in London. Also, it is one of
the main financial centres of UK.
This report will explain purpose and function of HRM which is applicable to workforce
planning and resourcing an organization. It will state strengths and weaknesses of different
approaches to recruitment and selection. Assignment will examine benefits of various HRM
practices for both employees and employers in organization. Furthermore, study will evaluate the
effectiveness of HRM practices in relation to raise profits and productivity of organization. It will
state various applications of HRM practices in a work related context.
TASK 1
P1 Purpose and function of HRM applicable to workforce planning
Human Resource Management:
Human resource management is the concept of planning of manpower and resources in the
organization. It is practice of hiring, deploying and managing employees in the JP Morgan. Human
resource division is normally responsible for creating, putting into efforts and overseeing policies
governing staff as well as managing relationship with employees in workplace (Caligiuri, 2014).
Nature and scope of strategic HRM:
Strategic human resource management is the concept that determines different techniques to
achieve goals of company through people as well as policies and strategies of human resource
(Bailey and et.al., 2018). It is procedure of evolving corporate capacity to deliver new strategies to
JP Morgan. It is based on two key ideas such as resource based view and need for strategic fit. The
scope of strategic HRM is to analysis and evaluation of external environment and fix the short term
annual targets in the workplace. It is concerned with all employees and managers of firm.
Purpose of HRM:
The purpose of human resource management is to coordinate people to accomplish goals of

company. Another goal of HRM lies in successful utilization of workforce to attain particular
objectives of firm. In this context, workforce planning is the constant procedure utilised to align
needs and priorities of JP Morgan. It allows evidence based workforce development strategies in the
workplace. Therefore, HR director must ensure that effective planning of workforce and utilization
of resources that helps to achieve the purpose of organization.
Driving Productivity: Human resource management is the technique to realize competence
and drive efficiency in organization work (Bratton and Gold, 2017). Therefore, HR director of JP
Morgan is to make sure that effective planning of workforce and resources that will help to achieve
purpose in relate to increase productivity of firm.
Building Coordination: HRM is responsible for an effective coordination and harmonious
practicality within and between various divisions of company. Therefore, HR director make sure
that effective planning workforce and utilization of resources that can assist to achieve purpose of
HRM in terms of building coordination with other departments of JP Morgan (Bratton and Gold,
2017).
Function of HRM:
Human resource management is planning of resources, developing skills of workers and
motivating them. Therefore, there are various functions of HRM that applicable to workforce
planning and resourcing in the firm.
Recruitment and Selection: The main function of HRM is to recruit and select the right
candidate according job profile in the organization (Caligiuri, 2014). It is the process of recognizing
and making potential candidates to apply the jobs. Selection is procedure of choosing the right
candidate for vacant position. Through this, HR director of JP Morgan make effort for effective
workforce planning and utilization resources in their workplace. By this function, they can improve
performance and ensuring workforce in the firm.
Training and Development: It is another important function of human resource
management. Therefore, HR director make sure that providing the effective training and
development for developing skills and planning of workforce in the JP Morgan (Bailey and et.al.,
2018).
Soft and Hard HRM Approach:
HR director follow soft and hard HRM approaches for planning of workforce and resourcing
in the workplace. In order to that, employees are treated simply as resources like building and
machinery of the firm in hard HRM. The focus of this HRM approach is to recognize needs of
workforce, so that HR director can hire, move and fire to workers accordingly in the firm. On other

side, workers are treated as individuals as the most essential resource of competitive advantage
(Deepa, Palaniswamy and Kuppusamy, 2014). Therefore, HR director needs follow soft HRM
approach for workforce planning and resourcing in organization.
P 2 Strengths and weaknesses of different approaches to recruitment and selection
Recruitment:
It is basically a procedure of short-listing and appointing suitable candidates for jobs within
company. Human resource director adopt this recruitment approach for particular job with carrying
out recruitment. There are mainly two approaches such as internal and external recruitment which
are used within organization (Ahmed, 2015). It is process of identifying needs of human resource of
JP Morgan and taking necessary steps to overcome difficulties that arise due to deficiency of human
resource.
Internal Recruitment: It is procedure of filling the vacant positions in firm by recruiting
workers within business premises. It is approach where existing staff of firm are referred or taken
into consideration for particular position. There are some methods involves such as employee
referral, promotion, transfer and so on. For example, promotion is internal recruitment. It is action
of progress of employee's post in the firm. It is necessary that workers are promoted in particular
interval of time on the basis of their performance (Bratton and Gold, 2017). Employee referral is
another approach to internal recruitment which means that supervisors who evaluate performance of
employees. On the basis of performance review, company hire existing employees for vacant post.
Strengths:
 This method encourages employees to work hard and development within JP Morgan.
However, promotion means increase payment and fame, so that it encourages putting more
efforts and make quality result.
 Through internal recruitment, existing workers are already familiar to environment, staff and
culture, so that they take less time to adapt to new work (Internal and External Recruitment,
2018). Therefore, they do not need to any kind of training.
 This approach also saves time and money of HR department.
Weakness:
 This internal recruitment promotes unemployment, because company keeps recruiting
workers internally, so that external talents are deprived of working platforms.
 High level of favouritism has been increased that is unfair practice within the company.
 There are limited choice for internal recruitment by firm, because there are not getting new

ideas from outside firm (Caligiuri, 2014).
 There is no new thought can be introduced from outside of company.
External Recruitment: It is procedure of filling vacant position of firm through workers
excluding the existing ones. New person with required skills and qualifications are registered in the
company (Gamage, 2014). There are some methods such as private employment agencies,
education institutions, advertisement and so on. For instance: advertisement is external recruitment.
It is most vital utilised method that firms present positions through electronic and print media such
newspapers, internet and so on. Private employment agencies means middleman among prospective
workers and firms. These institutions maintain data bank of job vacancies and job seeker which is
made perfect match.
Strengths:
 This method ensures the quality of human resource within company by creates pool of
eligible candidate (Caligiuri, 2014).
 This concept help to inflow of new thoughts, abilities and feeling in the organization when
workers are recruited externally.
 It is longer process because finding new talent, conducting interview take too much time.
Weakness:
 This method consuming high time and money within company.
 There are high chances of wrong selection that directly decrease effectiveness of JP Morgan
(Glynn, Arnow-Richman and Sullivan, 2015).
 Through it, employee are demotivated, because HR director hire candidate through
advertisement.
Selection:
It is process of selecting the most suitable candidate for vacant position in the company.
There are many stages which are comprised in selection process such as preliminary interview,
receiving applications, employment tests, interview, references checking and final selection.
Interview is selection process to anticipate upcoming job performance on the basis of candidates
oral response to oral interrogation.
Strengths:
 Interview method allows assessing skills of candidate and way of fit into the firm.
 Interviews are more objective and reliable as compared to tests.

 It believes on quantifiable insight and aid destroys bias.
 The interview is helpful for determining communication and social skills which is necessary
for the job (Ahmed, 2015).
Weaknesses:
 Some tests are been indeterminate which further impacts on outcomes.
 In the interviews, subjective evaluations are made and decisions tend to create within the
first few minutes of interview.
TASK 2
P3 Benefits of HRM practices for both employees and employers
The practices are set of procedures and activities of human resource management within
company. There are various human resources practices such as employment security, selective
hiring, self-managed team, contingent compensation, extensive training, decrease of status
differences and sharing information (Hassan, 2016). These practices are more beneficial for both
employers and employees within Canary Wharf.
Benefits for Employees
Human resource management practices are beneficial for employees in different ways in the
company such as:
Developing Skills: Through extensive training, it is more beneficial in relation to develop
abilities and knowledge of employees in the organization (Samnani and Singh, 2014). Therefore, it
is most important human resource management practice which is followed by HR director of
Canary Wharf. With this, employees works effectively and increase their productivity in the
workplace.
Increasing Motivation: It is necessary to motivate of employee for effective working in the
firm. Therefore, HR director needs to give appropriate and extensive training and development that
help to increase motivation of employees within Canary Wharf. They also require providing the
appropriate compensation for increase motivations in the company (Hunter and et.al., 2017).
Job Satisfaction: It is necessary to make polices and systems regarding compensation,
rewards etc. for job satisfactions of employees in the organization. Therefore, HR director of
Canary Wharf make sure that make and implement effective policies and procedures of human
resource management.
Positive Behaviour: The positive working environment is more beneficial for employees in

the organization. Therefore, HR director make sure that create positive environment through HRM
practices that keeping happy and productive workers in the Canary Wharf. In wide sense, human
resource management practices strengthen and rewards desired behaviour of employees (Johnson
and Szamosi, 2018).
Benefits for Employers
Employers have realized need for workforce welfare in terms of staying in business and
continuous growth. Therefore, these human resource management practices are also beneficial for
employers within organization.
Decrease employees turnover: It is needed to improve employees turnover in the
organization. Therefore, HR director require recruiting and training of present employees for
improving turnover of workers in Canary Wharf. They also need to pay attention of personal needs
of workers in organization (Schramm, 2012). Employees turnover involves absenteeism, disputes
and so on. Thus, these HRM practices help to improve turnover of employees in the organization.
Increase productivity: If HR director give effective training and development,
compensation, so that employees are more committed and involved in their work in relation to
increase productivity of Canary Wharf. Therefore, HR director need to make positive environment
of workplace, so that employees are worked effectively and happily in the organization.
Help to budget control: It is important for human resource to define as various procedures
as particular tasks, be it 360 feedback reviews, annual pay review or enlargement of new program.
Therefore, HR director of Canary Wharf need to understand the broad budget of project. However,
they make sure that effective planning of workforce and resources that help to control of budget
within the organization (Kramar, 2014).
Competitive Advantage: Extensive training and development, employees motivation and
so on that help to competitive advantage of Canary Wharf. For this, it necessary to give many
capabilities and behaviour by people and align with HR plans for competitive advantages of firm.
P4 Effectiveness of HRM practices in relation to increase productivity and profits of firm
There are many human resource management practices such as training and development,
motivation, recruitment, employee retention, flexible working options and so on. These practices
help to increase productivity and profits of Canary Wharf.
Learning, Training and Development: The effective and extensive learning, training and
development is the most essential part of human resource practices, because it develops skills and
competencies of employees for effective working in the Canary Wharf. They follow different

methods of training and development such as coaching, job rotation, conference etc. With this,
workers are developing their abilities and knowledge for effective working in workplace. Therefore,
skilled employees help to increase productivity and profitability of company (Marchington and
et.al., 2016). Through training and development, employees share responsibility, build relationship
and interaction with other workers for effective teamwork in firm. Therefore, this can help to
increase productiveness and profitability of firm.
Performance Management and Monitoring: It is also the most important practice of
human resource management within the organization. Therefore, HR director of Canary Wharf need
to ensure that managing and monitoring of performance effectively and efficiently to employees.
For that, they adopt different techniques such as rating scale, 360 degree feedback review, paired
comparison etc (Samnani and Singh, 2014). With the help of it, employees are worked effectively in
relation to increase productivity and profits of firm. Through it, improve execution and increase
capabilities for effective working in the organization in terms of raising productiveness and
profitability of firm. In order to that, HR director requires setting clear development goals, coaching
to each and every worker and give better feedback to employees in the workplace.
Flexible Working Options: As HR director, it is necessary to create flexible environment of
workplace. It is also needed to find ways of demands which assist environment where employee can
expand personally and professionally. There are many examples of flexibility work management at
Canary Wharf. Superior and workers have worked together to discover ways to meet business needs
while giving greater flexibility than traditional work management. For flexible working, company
needs to introduce multiple communication methods, so that employees are exchanged information
and ideas easily to employers or supervisors in the workplace (Taylor and Emir, 2015). Therefore,
they are increasing productivity and profitability of Canary Wharf. With flexibility, employees are
worked happily and productively in the firm. Thus, HR director make sure that creating the flexible
culture and environment of workplace, so that employees can easily contribute to raise profits and
productivity of the Canary Wharf.
TASK 3
P 5 Importance of employee relation in terms of impact on decision making of HR
Importance of Employee Relation:
The term employee relation means to firm's efforts to handle relationship between
supervisor and workers. A good relation with employees gives fair and consistent treatment to all
workers, so that they will be attached to their job role and loyal to company. Employer and
employees relations is very important to every single person for sharing certain relations with

colleagues at the organization (Townley, 2014). It is essential that workers shares healthy relation
with each other at the organization. There are many ways that employee relations are very important
in Canary Wharf. Such as:
Productivity: Powerful employee relations make grateful surrounding within the workplace.
It raises motivations of workers and employees morale. Canary Wharf have organized different
programs relating employees relations that enhancing in the productiveness (Samnani and Singh,
2014). Thus, higher productivity leads to raise in profitability of business. Therefore, employee
relations is impacted on decisions relating to make pleasant work atmosphere that help increase
productivity of business.
Employees Loyalty: It is necessary for making productive and grateful work atmosphere in
the workplace. It has effects on loyalty to worker towards the business and also boosts loyal
workforce. The cost of recruitment and training is cut forcefully through having such improving
employees retention and loyalty in the Canary Wharf. Employee relation is also important when
lower turnover of employees (Vanhala and Ritala, 2016) It ensures that employers has set trained
and skilled employees in the workplace. Therefore, HR director must take decisions such as
incentives, creating safe environment and employee relations that increase loyalty to employees in
the firm.
Conflict Reduction: Strong employee relations reduce conflicts within the workplace.
Therefore, it is necessary to that work atmosphere is efficient and friendly for reducing conflicts
between employees in Canary Wharf. In order to that, employees are able to focus on the tasks at
hand that result is fewer conflicts in the workers. Therefore, they are more productive. The happy
manpower is the productive workforce through making sound and efficient work atmosphere with
good management. Powerful employee and employers relation can be wide important to any
business success or failure (Walsh, 2015). Therefore, HR director needs to take decisions relating
to create healthy and pleasant work environment in the Canary Wharf.
Employee Indiscipline: It is necessary to identify various reasons which happen
indiscipline in employees. Reasons involves absenteeism, employee behaviour, slow performance
and grievances. Therefore, HR director need to take decisions such as conformity of employees
behaviour with managerial expectations and improve standard of performance in the workplace
(Vanhala and Ritala, 2016). For increasing discipline, it is important to develop strong relations
between employees and employers in the organization.
Employee Grievance: It is necessary to give safe environment, fair treatment, proper
incentives, participation in decisions and needs satisfaction for reducing the grievances of
employees in the workplace. If the HR director do not meet these expectations of employees, so that

it occur complaints by workers (Ahmed, 2015). Therefore, human resource must have ensured that
take appropriate decisions in terms of proper incentives, fair treatment and so on. Thus, employee
relation is most important to reduce grievances of employees.
Strategy for improve employee engagement
HR director must utilised strategy that is sustained culture of employee learning and
development for improving employees engagement in the Canary Wharf. Continuous training and
development is an essential way to raise employees engagement and retention in an organization.
Through learning and development, employees develop their knowledge and skills for participating
in all activity of business (Bratton and Gold, 2017). Therefore, HR director require making culture
of ongoing learning and development for enhance capabilities and improve engagement to
employees in the company. This also help to build strong relationship with employee in the firm.
P 6 Key elements of employment legislation and its impact on decisions making of HRM
Employment legislation in UK defines as contract of service. It is an agreement whereby
mutual obligations exist among employers and workers. It is law that regulates employment within
organization with everyone who works. This directly affects employer, workers and trade union.
The role is to ensure that it determines employed and treatment for offering job during procedure of
engagement and minimum terms and conditions under which they can work (Caligiuri, 2014).
Employment regulation seems to be perpetually including becoming more controversial due to
impact on business and public concern. Therefore, HR director must applied all legislations relating
to employment, health and safety, equality etc., because these regulations impact on their decisions
within the workplace.
Health and Safety Act, 1974: It is an Act of Parliament of UK that determines key structure
and government for the assistance, regulation and implementation of well-being, security and
welfare in the workplace within UK. The Act determines normal duties on employers, workers,
contractors, suppliers and part for utilise at workplace. Health and safety allows wider programs of
legislation which has generated large system of particular provisions for different industries,
disciplines and risks. This act also impact on decisions of human resource management relating to
health, security and welfare, wages and benefits, working conditions etc. to employees in the
workplace (Deepa, Palaniswamy and Kuppusamy, 2014). The objective of health and safety act is to
protect persons and arising out well-being and security against risk. It is controlling the keeping and
utilization of sudden or highly combustible or dangerous portion at the workplace. Thus, employers
are responsible for handling the provisions and care of plant and system of work, managing safety
and absence of risks to well-being in link with utilise and handling of articles and other material at

the organization. Therefore, HR director make sure that follow this act appropriately which can help
to run the business smoothly.
Equality Act, 2010: It is Act of Parliament of UK. It has some objectives as four major EU
Equal treatment directives whose mirrors and implements of provisions. The key objective of
equality act is to systematize complexity and number arrangement of acts which defined the basis of
anti-discrimination law in Britain. This act protects persons against discrimination, harassment in
employment (Taylor and Emir, 2015). As users of private and public services based on various
protected features like age, gender, disability, civil partnership, race, sex etc. Therefore, HR director
makes sure that giving equal and fair treatment to employees by following this act properly at the
workplace. For example: disability, employers and services providers are under the duty to create
reasonable accommodations such as religion, physical, emotional etc. to their workplace to reduce
barriers by injured persons (Gamage, 2014). Thus, this act impact on decisions HR director relating
to protect rights and provide equal chances and fair treatment to all employees who are worked in
the organization. Therefore, HR director must take appropriate decisions such as disability,
maternity, sexual harassment, victimization etc. Any lawful decisions help make in running business
smoothly by HR director. Single person who take decisions are potentially responsible for taking
lawful stages to prevent discriminating, harassing someone in the workplace.
P 7 Application of human resource practices
There are many applications such as job advertisement, job description, person specification,
CV and so on.
JOB ADVERTISEMENT
The job advertisement is declaration of an open job position. It is written in engaging tone
and contains info not only about job position bout also about organization and offer benefits
(Deepa, Palaniswamy and Kuppusamy, 2014). The structure of job advertisement which involves
job title, job location, duties, job requirements, organization and benefits as well as applying
instructions.
FINANCIAL TIMES
UNIVERSITY COLLEGE LONDON
JOB ADVERTISEMENT