Human Resource Management Report: JP Morgan Analysis

This report provides a comprehensive analysis of Human Resource Management (HRM) practices within JP Morgan, a prominent financial services and investment company. The report begins with an introduction to HRM, defining its core functions and purpose in workforce planning, emphasizing the importance of aligning organizational objectives with employee needs. It then delves into the strategic aspects of HRM, differentiating between hard and soft HRM approaches and advocating for the adoption of a soft HRM approach for JP Morgan. The report explores various HRM functions, including recruitment and selection, training and development, and workforce planning, highlighting their significance in providing talent and skills. It examines the strengths and weaknesses of different recruitment and selection methods, both internal and external, and evaluates their effectiveness. Furthermore, the report discusses the benefits of different HRM practices for both employers and employees, assessing their effectiveness in terms of profits and productivity. It also analyzes the importance of employee relations in influencing HRM decision-making and the impact of employment legislation on these decisions. Finally, the report provides practical examples of HRM practices and their application within JP Morgan, offering an in-depth critical evaluation of HRM practices and their influence on decision-making.

HUMAN RESOURCE
MANAGEMENT

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Purpose and functions of HRM applicable to workforce planning...................................3
M1 Functions of HRM assist in providing talent and skills...................................................5
P2 & M2 Strengths and weaknesses of different approaches to recruitment and selection...5
D1 Critical evaluation of strength and weakness of approaches of recruitment and selection7
TASK 2............................................................................................................................................7
P3 Benefits of different HRM practices for employer and employee....................................7
P4 Effectiveness of different HRM practices in terms of profits and productivity................9
M3 Critical evaluation of strength and weakness of selection and recruitment with specific
examples...............................................................................................................................11
D2 Critical evaluation of HRM practices and application...................................................11
TASK 3..........................................................................................................................................11
P5 Importance of employees relations in respect of influencing HRM decision making....11
P6 Key elements of employment legislation and its impact on HRM decision making......12
M4 Key aspects of employee relation management and employment legislation on decision
making..................................................................................................................................13
D3 Critical evaluation of employee relations and application of HRM practices and its
influence on decision making...............................................................................................13
TASK 4..........................................................................................................................................14
P7 Application of HRM practices with some examples.......................................................14
M5 Analysis of application of HRM practices in organisation............................................17
CONCLUSION..............................................................................................................................17
REFERENCES .............................................................................................................................18

INTRODUCTION
Human resource management is an effective process of selecting, recruiting, imparting
training and development, providing orientation, inducting employees etc. HRM is also a
management function, concerned with maintaining, motivating and hiring people in an
organisation (Human Resource Management, 2018). In simple word, it is the procedures of
putting 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 is
to 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 includes
scope 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 on
human resource management’s decision making is also determined in this project. Application of
HRM practices and its usefulness in the organisation is also included in this assignment.
TASK 1
P1 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 individual
objectives are accomplished (Albrecht and et. al., 2015).
Nature & Scope of strategic human resource management: - Strategic HRM refers to the
effective process of developing plans, practices and policies which support in accomplishing
wanted objectives and goals of organisation within predetermined period of time. There are some
scope and nature of strategic HRM which are determined as under:
 Strategic HRM gives a clear vision and target of business strategy for future activity and
success.
 SHRM play important role in developing plans and policies which is applied by
employees and line managers as their daily working operations. It will help in communicating information or data related to the internal strength and
weakness of company.

Hard and Soft HRM: distinct organisation opts numerous different types of methods and
approaches in regard of accomplishing standard targets to meet the outcome. Here are mentioned
some of those:
HARD HRM: It is belonging as an approach which is followed by the company in order
to treat its employees as resources like facilities, machinery etc. Beside this performance of the
workers are controlled to attain the competitive edge and maximum profit (Alfes and et. al.,
2013). For example: Minimal communication, minimum wage, little delegation and
empowerment etc.
SOFT HRM: In this workers are considered as a main asset for an organisation which are
important for accomplishing better outcomes and competitive benefit. This approach believes
that productivity, skilled and happy workforce put maximum efforts toward business operation
and assist in maximising the profitability and efficiency of JP Morgan firm. For example: strong
and regular two-way communication, flatter organisational structures, competitive pay structure
e.g. share options, profit share etc.
JP Morgan must apply “Soft HRM approach” as it benefits in attaining set targets and
goals easily. It is one of the best method because with the use of this company consider its
workforce as a valuable or precious asset. This output in workers are happier and it leads to
reduce in employee’s turnover.
Purpose and functions of HRM: There are some purpose and functions of HRM in JP
Morgan firm are determined as under:
Recruitment and selection: It is a main function of HRM which is applied by the human
resource 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 the
knowledgeable 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 effort
to enhance the actual and future performance and productivity of a worker by maximising the
capability of them through educating individual's skills in the specific subject. Main purpose of
this HRM is to train all employees by organising meeting, conference and seminar to them.

Workforce planning: HRM can be defined as an integrated, coherent and strategic
method, to the well-being and development of the people who are working in the organisation.
Thus, human resource management is more essential and effective part of the workforce
planning. It is the process applied to align the priorities and requirements of the enterprise with
those of its employees. They see it can meet its regulatory, legislative, production and services
needs and organisational objectives.
M1 Functions of HRM assist in providing talent and skills
Various HRM functions assist JP Morgan firm to introduce necessary modification in
firm's strategies. Also, by undertaking Soft HRM approach, company make sure to develop
cordial relations with its employees and to motivate them by providing them chance to share
their opinions and feedbacks with the organisation (Baum, 2015). JP Morgan firm undertakes
various functions that ensures that firm has well trained proficient employee at right job profile
at right time.
P2 & M2 Strengths and weaknesses of different approaches to recruitment and selection
Recruitment and selection are effective process which is followed by the JP Morgan in
order to hire talented and knowledgeable employees who have better experience in financial
sector. Both terms are different and has various types and its benefits and shortcoming which are
explained as under:
Recruitment: It is referring to the entire process of attracting, selecting, short-listing and
appointing applicable candidates for jobs within a company (Berman and et. al., 2012). In order
to recruit best candidates from large number of person JP Morgan firm select internal and
external method of recruitment.
Internal recruitment: It means recruiting workers within an organisation. This method includes
some types which are determined as under with its strengths and weakness.
Types of internal
recruitment
Description Benefits Shortcoming
Promotion It is the process of
promoting a workforce
from lower position to
top level. This
approach maximises
It supports in
maximise the morale
and standard of
workers as well as
maintain them better
It can develop disputes
or conflict among
workforce as many
staffs apply for similar

the remuneration,
status and
responsibility of a
worker who is
promoted.
relation for longer
time. This approach
save the cost and time
as process of
recruitment is
complete internally.
vacant position.
Transfer It is a process of
moving one job post to
other without any
variation in
employee’s
responsibility,
remuneration and
status.
It is a cost effective
and time saving
approach. It is mainly
relay on project need
and capability of
respective workers.
Disadvantage of
transfer method is
when there are
workers who has
affection with
enterprise may impacts
the morale and
standard of staff
members because of
transfer.
External recruitment: This is mainly referring to hiring candidate's outside an
organisation. It supports in bringing unique ideas and innovation in the JP Morgan firm (Boxall
and Purcell, 2011). Various kind of external recruitment and its advantages and disadvantages
are determined as under:
Types of external
recruitment
Description Advantages Disadvantages
Advertisement It is one of the best
approach of recruiting
as various number of
person attracted as
well as stimulated in a
minimum time period
to applying for a job.
There is more scope of
recruiting a best
people because pool of
prospect applying for
job.
This method consumes
maximum time and
cost of the company
which is not good for
the success of
organisation.
Recommendation of The present workforce It will increase the Sometime this

existing workers understands both the
business and the
candidate state
recommended. Hence,
JP Morgan firm
encourage their
available workers to
support them in
acquiring applications
from individual who
are known to them.
moral and
performance of the
employees in better
way.
approaches develop
conflict among
employees which is
not good for the
development and
success of company at
marketplace.
Selection: It is depicting as a negative activity in which interviewing and evaluating of
candidate for particular job that is basically based on various criteria (Bratton and Gold, 20175).
In this JP Morgan firm apply group discussion approach which is determined as under:
Selection approach Description Advantages Disadvantages
Group discussion It is a best method of
selection in which
approx. 7 to 13
candidates give their
opinion on specific
matter in a discipline
way.
This approach
promotes candidate's
participation which is
essential for the long
term growth and
success of company.
It is a time consuming
approach and there is
societal and
interpersonal force for
candidate.
D1 Critical evaluation of strength and weakness of approaches of recruitment and selection
According to Cascio, (2018) in case of hiring for a particular vacant job position, it is
advisable for JP Morgan firm to take into consideration both internal and external sources of
recruitment so that most appropriate candidate could be selected in for a particular job profile.
The company should review first look for talent internally through informal and formal methods.
The external sources for hiring should be opted in case high professional or expert candidate is
required for a job vacancy.

TASK 2
P3 Benefits of different HRM practices for employer and employee
HR practice are effective for making organisation in-growth strategy. It is essential to
come with approaches which are effective and significant for making good relations among
employees. These days many changes are taking place in business, so JP Morgan firm is
accepting changes rapidly (Brewster and Hegewisch, 2017). But these changes can be
successfully applied to association within the cooperation of employees, so HR manager plays
vital role in cooperating and motivating workers. JP Morgan firm is an organisation which is
famous for their finance services. Financial and investment services of JP Morgan firm are up- to
the mark, this is because HR manager gives emphasise on working style of employees. Benefits
of HR practices for employer and employees are discussed as under-
HRM practices Employer Employee
Learning, development and
training practices
Management of JP Morgan
firm has many policies related
to training and learning of
employees. They have various
training centres for improving
working style. This training
programmes are planned by
HR managers which helps to
improve overall perform,ace of
association. This helps to
provide satisfaction to
customers and hence there will
improvement in goodwill of JP
Morgan firm (Brewster,
Mayrhofer and Morley, 2016).
Training is not only beneficial
for organisation, it provides
assistance to workers too. With
the help of training employees
are able to learn new
techniques and this provides
them confidence at work place.
When workers of JP Morgan
firm perform well they get
chance of promotion,
incentives, etc.
Flexible working option Flexible working options
means to emphasise on
working rather than strict rules
Flexible working hours helps
to employees to work in
appropriate way, which helps

and regulation. This can
include flexible working
hours, no regulations related to
dress code, etc. This helps JP
Morgan firm to achieve targets
and managers can focus on
good services to customers.
to make them comfortable at
work place. Workers wants to
resist in JP Morgan firm. They
feel energetic while working
and give their best.
Employee's performance
management and monitoring
HR manager of JP Morgan
firm plays vital role in making
policies which helps to
monitor employee's
performance. This helps to
improve quality of services
and hence customer
satisfaction is possible (Buller
and McEvoy, 2012). When
manager focus on performance
then best result can be
achieved and this helps to
improve goodwill of JP
Morgan firm.
Performance monitoring helps
to make workers to give up- to
date services. Monitoring
performance by JP Morgan
firm HR manager helps
employees in their increments
and they can learn to work
with deadline.
Payment & reward
management
Payment for work is essential
component which has to be
considered by HR manager of
JP Morgan firm. When timely
payment of rewards and
compensation is made, then
there is improvement in
performance of workers,
which ultimately benefits to
Compensation is essential
component which makes
workers happy at work place.
When HR manager of JP
Morgan firm pays proper
remuneration, then this worker
feel motivated. Non- monetary
benefits are also effective to
motivate employees.

brand image of JP Morgan
firm. There are no legal issues
related to compensation
against JP Morgan firm.
P4 Effectiveness of different HRM practices in terms of profits and productivity
Human resource practices are effective for providing satisfaction to employees and
motivate them to give best. JP Morgan firm deals in service sector having services all around the
world, so it is essential to make strategies through which check is possible at various outlets
(Chelladurai, and Kerwin, 2017). HR policies are effective for growth of association, so it is
necessary to know effectiveness of HR policies. As JP Morgan firm has numerous employees, so
HR manager has to convey policies effectively and acknowledge that whether workers are ready
to work on it or not. With this effectiveness there is positive impact on customer satisfaction and
profits of JP Morgan firm. Above mentioned HR practices i.e. Flexible working option,
Employee's performance management and monitoring, Payment & reward management are
effective for knowing positive impact on profits, which is discussed as JP Morgan firm-
Learning, development and training practices: With the help of learning and training
programmes, employees of JP Morgan firm are able to attract customers properly and they have
knowledge related to how to behave with customers. Training provides employees knowledge
about change in working style and how top coop- up with it (Donate and de Pablo, 2015) JP
Morgan firm updates their services in order to give satisfaction to customers, so training helps
employee to provide best services to customers.
Employee performance management and monitoring: JP Morgan firm operates in
various parts of work so there is requirement of monitoring and analysing performance of
workers which is main job role of HR manager. In JP Morgan firm, to evaluate services, there is
provision of taking feedback from customers. So employees are conscious about performing
their job roles. It is effective for growth of organisation. There are positive outcomes from
monitoring of services as worker take care about demand of customers. With the help
monitoring, there is proper management in association and proper information can be delivered
to workers. This helps to provide satisfaction to customer and they are ready to avail services
from JP Morgan firm.

Payment and reward management: There is requirement of proper remuneration which
helps to make policies which are effective and significant for providing satisfaction to workers.
Monetary benefits help to develop plan which is effective and efficient for growth of association.
Payment of remuneration must be effective for providing satisfaction to employees and they feel
satisfied at work place. It is essential to timely evaluate performance and according there must be
some up- gradations in pay scale. As per feedback from customers, there must be rewards to
employees, so there will less absenteeism and turnover of employees.
M3 Critical evaluation of strength and weakness of selection and recruitment with specific
examples
HR manager of JP Morgan firm has to select candidate which has qualities according to
market requirement. To maintain amicable relationship with its workforce, JP Morgan firm
undertakes and implements various HRM practices which involves training and developing them
to enhance their competencies. Also, it includes applying performance management system to
monitor and track down their performance levels on regular basis to ensures that they are
working as per standards to provide recognize their efforts through proper payment and reward
systems.
D2 Critical evaluation of HRM practices and application
HRM practices assists managers of JP Morgan firm to complete routine activities of firm
within specific deadlines. Also, it is responsibilities of managers to formulates and implement
effective HRM practices that may result in enhancement in KSA of its workforce and encourage
them to give best of their efforts in attaining firm's objectives. This further helps in building
trust of employees towards company that reduces various issues like employee turnover,
absenteeism etc. There are various practices that are undertaken by JP Morgan firm such as
learning, development and training practices, employee performance management and
monitoring and payment and reward management etc. to enhance its productivity and
performance.
TASK 3
P5 Importance of employees relations in respect of influencing HRM decision making
Every individual in JP Morgan firm shares a specific relation with its colleagues and
management. It is requisite for them as they have to interact and discuss with each other for

perspective of decision making. Thus, maintaining a strong bond between employer and
employee and among them workers as well forms ultimate key for the success of JP Morgan firm
as the outcomes are advantageous (Grobelna and Marciszewska, 2016). JP Morgan firm ensures
a comfortable working environment for all its employees and supervisors where in they are
provided immense opportunities to share their concerns, problems and even to give their
feedback for improvement in firm's operations and logistics. Importance of maintaining good
employee relations is evident from mentioned below points:
Employee Engagement: JP Morgan firm has implemented a new technology such as E-
commerce for its employees to share their feedback with company. Under this, system JP
Morgan firm staff meets up with each local advisory group and in an interactive session shares
their opinions and ideas that are taken to central office and worked upon to implement necessary
changes. Thus, it helps company to develop trust among staff which further benefits in retaining
them and developing their loyalty, work efficiency and performance.
Motivation and enhancement in productivity: JP Morgan firm is known for its employee
manipulation. By adopting various employment engagement techniques firm keeps its employees
retained by finding out their weekly earning and sending them text messages about how afar they
are from their target. Thus, it helps workers to be motivated and work with zeal towards
achieving their target. As a result, this helps in improving their productivity level as they feel
associated with the company. Also it reduces problems of turnovers, absenteeism etc.
Reduce conflicts and arguments: By undertaking various measures like communication
channel, motivating them etc. JP Morgan firm develops job satisfied workforce that helps leads
to maintaining cordial relations among employer and employee (Jennings and Stadler, 2015). All
these positive aspects helps in making employees dedicated towards their work which leads to
less chances of arguments or conflicts between management and employees related to various
issues like salary etc.
P6 Key elements of employment legislation and its impact on HRM decision making
As company like JP Morgan firm conducts its activities in various different nations where
in laws and regulations that are been incorporated by government differs, it becomes critical for
to adhere by them. For firm it is mandatory to include all provisions, rights and legislations that
are laid down by federal, state or local authorities in its business operations for the welfare of its