Human Resource Management Report: JP Morgan's HRM Strategies

This report provides a comprehensive overview of Human Resource Management (HRM) practices within JP Morgan, a leading financial services company. It begins by defining HRM, its core functions (recruitment, training, compensation, performance appraisal, and legal compliance), and its purpose in achieving organizational goals. The report then delves into the different types of recruitment and selection methods, including internal and external sources, along with their strengths and weaknesses, specifically focusing on how JP Morgan might employ these strategies. Furthermore, the report explores the benefits of various HRM practices, such as training and development, performance management, and compensation, for both the employer and employees. It also discusses the application of HRM practices, including both hard and soft approaches to HRM, and concludes with a review of key employment legislations. The analysis highlights how effective HRM contributes to JP Morgan's success by attracting, retaining, and motivating employees, ultimately aligning human capital with the company's strategic objectives.

HUMAN RESOURCE
MANAGEMENT

Contents
Contents......................................................................................................................................................2
INTRODUCTION.....................................................................................................................................3
TASK 1.......................................................................................................................................................3
P1............................................................................................................................................................3
P2............................................................................................................................................................5
TASK 2.......................................................................................................................................................8
P3............................................................................................................................................................8
P4...........................................................................................................................................................10
TASK 3.....................................................................................................................................................11
P5...........................................................................................................................................................11
P6...........................................................................................................................................................12
TASK 4.....................................................................................................................................................13
P7...........................................................................................................................................................13
CONCLUSION........................................................................................................................................15
REFERENCES..............................................................................................................................................17

INTRODUCTION
Human resource management refers to business practices that mainly deals with
overseeing workers in an organization. The concept of HRM revolves around planning,
directing, controlling, organizing, compensation and maintenance of human resource to the end
that organizational, societal and individual objectives can be accomplished (Al Ariss, Cascio and
Paauwe, 2014). In the given report, chosen organization is JP Morgan which is an American
based financial services company. It covers main purpose and function of human resource
management towards accomplishing organizational goals. Along with this, it also discuss
different types of recruitment and selection along with its key strength and weakness. Lastly,
benefits of different HRM practices, application of HRM practices and key employment
legislations were also discussed.
TASK 1
P1
The concept of Human Resource Management portrays the formal structure of an organization
which is mainly designed to manage the working of workforce within the company. It centers
essentially around 3 major areas namely designing work, staffing and employee compensation.
Purpose of HRM:
 To coordinate people within an organization to achieve desired objectives.
 Concentrates on internal sources of competitive advantage.
 Communicates with employees and adapts the culture of organization according to their
needs
Discussed below are some of the main function of HRM in JP Morgan.
1. Recruitment: - It refers to the process of screening and choosing the most qualified
applicant in light of required criteria for a specific occupation available in respective
firm. It is a procedure which incorporates developing job description, stimulating the
candidates, conducting interviews, offer employment, salary negotiation & finally
provide employment to selected candidate. Recruitment process help organization in
setting qualified and talented candidate at right occupation which help them in decreasing

the cost of error that may cause because of inadequate and unmotivated representative. JP
Morgan will recruit people who have strong understanding of finance and portfolio.
 Training and Development: - It is the prime responsibility of JP Morgan’s manager to
arrange training and development session for new and unpracticed worker with an intent
to make them more productive and efficient. Along with this, it also help candidate in
improving its overall productivity and efficiency. JP Morgan will provide adequate
training to their staff related to the products and services they offer and also how to deal
with customers, etc.
 Compensation and Benefits: - Human Resource Management deals with organization's
compensation framework and deciding how much pay representatives ought to be paid
for a specific occupation. By offering attractive benefits, company can motivate or inspire
them to work incredible hard towards achieving firm’s goals and objectives. JP Morgan
will provide adequate compensation and benefits of incentives to their employees for
meeting the targets and Leeds.
 Performance Appraisal: - It refers to the way towards measuring the performance of
employees keeping in mind the end goal to decide if the employed staffs are pushing
toward the targets of an association (Baum, 2015). It help company in investigating data
identified with the execution, pay and disciplinary activity that might be gainful guiding
and motivating employees. JP Morgan will appraise the skills and potential of their
employees for completing the targets and meeting organizations benefits.
 Ensuring Legal Compliance: - It assumes basic part in terms of protecting organization
from the legitimate issues. The HR staff of JP Morgan must know about every one of the
laws and strategies regarding working conditions, charges, and business and so on. Exact
information of laws and direction help organization in maintaining a strategic distance
from lawful issues that may influence organizational goodwill and profitability (Baum,
2015).
These are the significant functions of Human Resource Management, which help organization in
playing out its activities all the more proficiently. Also with this, HRM has two wide
methodologies that assistance in achieving the goals of an organization which are as per the
following:

Hard:- This approach consider its laborer as assets like machinery, facilities etc. of the
organization and their execution are controlled to accomplish the upper hand and most elevated
benefit. It is helpful in planning by aligning human strategy with business strategy. In this hard
and strict plans are made and limited resources are allocated to the employees to accomplish
organizations goal with minimum cost.
Soft: - Under this HR framework workers are considered as a benefit for business which are
fundamental for keeping up high competitive advantage. This theory trusts that glad, talented and
gainful workers put more endeavors toward its activities and help in expanding the proficiency
and fruitfulness of JP Morgan. Organization must utilize soft HRM as it helps in accomplishing
set targets and this approach think about their workers as a significant resource. This outcomes in
representatives are more fulfilled and it prompts diminish in workers turnover.
Nature and Scope of strategic HRM:-
Strategical Human Resource Management alludes to the way toward making arrangements, plans
and practices which help in accomplishing the objectives and target of association. Following are
the nature and extent of key HRM:
 It gives a clear vision of business technique for future course of activities.
 Plans and arrangements made by SHRM is utilized by line supervisors and workers as a
part of its day to day working operation (Cleaver, 2017).
 Assist in providing data identified with the organizations internal strength and weakness
 SHRM help with guaranteeing that issues related with employee development needs to be
get addressed in systematic manner.
P2
Growth and success of any firm depend upon how effectively their workers contribute
towards achieving organizational goals and objectives. For this, company needs to hire most
skilled and talented personnel who work incredibly hard towards achieving these goals. There
are different types of recruitment and selection method which helps in choosing right candidate
for their given job position.

Recruitment: It is procedure of looking for forthcoming competitor and actuate and urge them
to apply for work in an organization. In simple words it means stimulating candidates to apply
for job in respective firm. It is normally classified into two categories namely Internal and
External (Deery and Jago, 2015).
Internal Recruitment: This sort of recruitment method implies selecting suitable candidate
within the organization. There are different types of internal recruitment that are comprehended
below:-
Promotion: This is procedure of moving a worker from bring down level to higher position. This
approach expands the obligation, status and compensation of a workers who is advanced.
Strength Weakness
 Build relation between
manufacturer and customer.
 Attention to a new product.
 Difficult to tap illiterate people.
 Expensive.
Transfer: It is the way toward relocation one occupation to another with no adjustments in
employee’s status, remuneration and responsibility. There might be change in branch or in shifts.
Strength Weakness
 It provide a career path for
workers when promotion is not
available. It increases the
capacity of employees in terms
of dealing with any ambiguity.
 Its major drawback is employees has
connection with company which may
influences the morale of worker on
account of exchange to other area or
to another office.
External Source of Recruitment: This sorts of recruitment method deals with selecting
applicant outside the firm. It helps in getting new talent and innovation in the association (Deery
and Jago, 2015). Some of the common method of external source of recruitment used by JP
Morgan are mentioned below:

•Direct recruitment: Under this method, procuring of qualified workers are finished by putting
a notice either on company notice board or publish it on company’s website. This strategy
otherwise called industrial facility factory gate for recruiting manual and specialized laborers.
Strength Weakness
 One of the significant advantage
of this technique that JP Morgan
will experience is that there is no
favoritism and brassiness among
the applicants.
 The main weakness of this method for
JP Morgan includes it is time
consuming and costly.
•Advertisement: This is the best reasonable technique for procuring as vast number of
individuals pulled in and fortified in a short time frame to applying for occupation and it is
likewise viable method for screening candidate for available job position.
Strength Weakness
One of the real advantage of promotion
for JP Morgan is that there is more
extensive degree for contracting a
correct representative since vast number
of applicant applying for work.
JP Morgan might incur additional cost as It
isn't a cost effective process and it consumes
more time because of lengthy selection
process.
•Campus Recruitment: In this technique, companies go to colleges and universities to gives
open doors employment opportunities to vast number of students. Companies go to different
colleges for selecting most talented and suitable candidate.
Strength Weakness
Benefit of this technique for JP Morgan is
it has wider range of hiring and selecting
best employee for the company.
JP Morgan will face major drawback of
grounds enlistment is that applicant demands
more remuneration and benefits.

Selection: The process begin once the company is done with stimulating and attracting large
pool of applicants to apply for job in respective firm. It is a negative procedure in which
assessing and meeting of candidate for particular position that depends on specific criteria
( Farndale, Brewster and Poutsma, 2014). Scope of determination process might be from easy to
confused process rely upon the firm contracting position
Group Discussion: It is the most effective method of selection process in which 8 to 12
candidates express their perspectives on specific subject or topic.
Strength Weakness
 There are advantages of
utilizing this method by J.P.
Morgan that is there are
assorted variety of perspectives
on a specific point and
empower competitor's interest.
It is a successful technique to
assess the abilities of
representatives.
 It is a time consuming process in
comparison with others.
TASK 2
P3
Human Resource Management refers to the execution of policies and strategies planned
by HR office which advantage the worker and also business of an endeavor and furthermore help
organization in accomplishing pre-defined goals and objectives (Jensen, 2017).. This motivate
workforce of the organization with the goal that they contribute toward the accomplishment of
association. Following are the advantages of HRM practices to the worker and business

Different HRM
Practices
Employer Employee
Learning, development
and training practices
Training and Development
programs help business in
upgrading the efficiency and
execution of their
representatives by giving
them preparing to enhance
their abilities and learning.
Through this employer can
get the benefit of practicing
transparent and participate
management style. Skilled
and competent personnel is
considered as an advantage
for the JP Morgan which can
be used by business to
enhance their deals and client
administrations.
Training and Development
program benefits employee in
enhancing their abilities and
efficiency.
Employee's performance
management and
monitoring
By monitoring performance
of employee employer will
get charge to practice
leadership and this will
increase his ability to build
team efforts and contribute to
the growth of employee.
Improvement in performance
of an employee helps them in
gaining confidence and
encourages them to work
towards the organizations
goal.
Payment & reward
management
Pay and reward management
is another HR practice which
In case of employees, it act as
a motivating factor that keep

guarantees that
representatives are genuinely
compensated for the work
they performed. It is valuable
for manager as they can
accomplish organizational
goal in an effective manner
and reduce employee
turnover rate as well.
inspiring or pushing them
towards achieving both
individual and organizational
goal in an effective manner.
Flexible working option Employer is responsible for
getting work done through
non traditional working hours
, locations or job structures.
Employee will balance their
work life with personal life
and this will result in more
positive and productive
working environment.
P4
Human Resource Management is an organized and planned process that help in dealing with the
workers adequately and productively. The fundamental goal is to establish open, flexible and caring
management which provides motivation to employees ( Kulik and et. al., 2014). Best HRM rehearses
helps in achieving departmental objectives and furthermore improve profitability. There are different
practices of HRM that are useful in expanding benefit and profitability.
Benefits of flexible working practices: It is very essential to offer adaptable working practices in
an association which helps in increment the viability of firm.
1. Learning, advancement and preparing practices: HRM rehearses is extremely fundamental in an
association which helps in accomplishing set goal in a viable way. At the point when there is
appropriate preparing and improvement session for workers than it causes them in legitimate
working in an association. Favorable position of preparing and advancement is it builds the
abilities and information of staff part that prompts increment in benefit and efficiency.
2. Employee execution administration and checking: Another HRM practice that provides benefits
to firm is employee performance management in identifying employee’s expectation. Mentoring
implies giving feedbacks to their representative that are useful in enhancing their execution and
they don't confer same error next time. So having checking of workers in an endeavor is vital as
it helps in accomplishing set goals. Another key advantage of this method is it helps in deciding
representatives desire and furthermore characterizes profession way, this prompts work

fulfillment (Langford and et. al., 2014). HRM practices of worker execution administration and
observing aides in expanding the benefit and efficiency and are regularly seen as significant for
human asset division for an association.
3. Payment and reward administration: Compensation package assumes crucial part in an
association. Since it is the main way which urge the representative to perform well. There ought
to be reasonable and opportune installment framework in a venture which prompts fulfillment
among workers. It is vital in organization to give legitimate reward as indicated by workers
execution. Firm should give rewards and motivating forces to representatives for their diligent
work and it likewise pulls in staff part to perform well that prompts increment in gainfulness and
profitability (Manvi and Shyam, 2014 ).
Various practices of HRM offer so many benefits to company and also increase profits and
productivity of organization. For example, practice of flexible working hours offer an opportunity to
employees that they can work in the time which is most suitable to them. This not only provide
them job satisfaction but at the same time improve their productivity which offer long term benefits
to enterprise. Further, proper rewards and compensation reduce employee’s turnover which
improve company’s performance and also provide competitive benefit to it.
TASK 3
P5
A strong relationship amongst business and employees is a key to the achievement of an association,
as though a solid relationship is keep up by organization workers will be more turned out to be effective
and beneficial in their tasks. Nature of connection among representatives and boss additionally impact the
basic leadership procedure of HRM and better relations demonstrates the worker association in the
association which help in taking hitter choice. For keeping up great connection chief of JP Morgan think
about after things:
Proper communication should be there at workplace so employees can communicate with employers and
can discuss their issues with them.
Employees should encourage to take part in decision making process as this enhance their morale and
reduce employee’s turnover.
With the assistance of above clarified focuses JP Morgan can keep up higher worker relationship and
holding them. Following are the significance of representative relations and its impact over HRM
decision making are as follows:
• If employer’s keeps up relations with their workers than organization get bolster when they need
to acquire new changes their activities (Wright, Coff and Moliterno, 2014).
• It help in making and advancing sound workplace inside the association.
• It expands the resolve and persuade the representatives which help in expanding the profitability
and results is generally development of an association.
With all these, employer and managers can create & maintain good relations with employees.
When employer’s success in maintain a good relation with workers then employees always support
employers in every action whether it is related with implement change at work place or is related with any

other area. In situation when employers fail to maintain a good relation with workers then it create
negative environment at workplace and employees do not support workers in any of their decision.
Advantages of Trade Union
Trade Union is an association which comprise of gathering of part who are laborers and association
pioneer who are joined keeping in mind the end goal to secure the privilege and enthusiasm of its member
(Manvi and Shyam, 2014). It embrace exercises like arrange concurrence on pay and work contract,
bolster its part in unraveling grievances, giving legitimate and money related advices to specialists and so
on. Following are the significance of Trade association:
•It ensure the rights and enthusiasm of representatives, as it some of the time go about as an agents for
laborers if there should be an occurrence of legitimate issues and grievances.
•It is helpful for a representative as it give certain client benefits such as discounted insurance.
•Provide money related and legitimate exhortation to its part and in addition help in arranging more
advantageous working condition at their working environment like occasions, adaptability in working,
wellbeing and security benefits (Manvi and Shyam, 2014).
P6
Legislation is the way toward authorizing laws gone by government and administrative
bodies. Work enactment is law which is administers work in association and their
representatives. It is the relationship among representatives and business and furthermore
clarifies the rights and obligations that are performed by workers at their working environment
(Newell and Scarbrough, 2017). These laws are oversee in terms of professional career
association and affiliation that define principles and controls to ensure the enthusiasm of
manager and representative of JP Morgan. Some of the common laws are discussed below:
Anti-Discrimination Act: This demonstration give general structure identified with measure up to
treatment to workers that stop segregation which depends on convictions, incapacity, age,
religion and sexual introduction (Renz, 2016). Law additionally required for measure up to
advantages and chances to every single worker in an undertaking according to their capacity and
work potential. There is impact on firm’s decision making process, as manager ought to define
arrangements which are equivalent for staff part like they should advance workers and value
them on premise of their execution.
Data Protection: This demonstration controls the individual data of workers that is utilized by
organization and government. There are strict tenets against the utilizing individual information
that is called information assurance standard. There is law of information insurance act that
representatives don't share any classified data of organization to anybody and firm don't utilize
individual information of worker. There must be protection of individual information of workers.
Law of Equality: This is blend of more than 116 separate bits of enactment into one act. This
demonstration gives a legitimate system to secure against privileges of every worker and
furthermore gives propel uniformity chance to all. Fairness act fortifies about separation law that
shields a person from out of line treatment and offers a reasonable and equivalent society
(Pfeffer, 2014). There are 9 primary bits of enactment which are combined, for example, the
equivalent pay act, sex separation act, the race connection act, inability segregation act, work
equality(religion or beliefs)regulations, the business equality(sexual orientation)regulations,