Applying HRM Practices in Liverpool Victoria Context

This report provides a detailed analysis of Human Resource Management (HRM) practices within Liverpool Victoria (LV), a major UK insurance company. It examines the purpose and scope of HRM in achieving organizational objectives, including talent resourcing and skills development. The report evaluates the effectiveness of key HRM elements such as recruitment, selection, training, and performance appraisal. It analyzes internal factors like organizational structure and employee relations, as well as external factors including employment legislation, that influence HRM decision-making. The report further applies HRM practices in a work-related context, highlighting the importance of employee relations and compliance with legal standards to foster a productive and sustainable working environment within Liverpool Victoria. This analysis contributes to a comprehensive understanding of how HRM functions strategically to support business goals.

HUMAN RESOURCE
MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
TASK 1............................................................................................................................................1
Purpose & scope of HRM in Liverpool Victoria (LV)................................................................1
Different approaches of recruitment & selection along with strengths and weaknesses.............2
TASK 3............................................................................................................................................5
Analysing internal and external factors affecting human resource management decision
making.........................................................................................................................................5
TASK 4............................................................................................................................................7
Explaining Human Resource Management practices..................................................................7
CONCLUSION................................................................................................................................9
REFERENCES................................................................................................................................9

INTRODUCTION
Human Resource Management (HRM) is one of the crucial part of organization that is
responsible for recruiting, hiring, selecting and managing employees (Human resource
management, 2021). In current era, competition has increased which required organization to
gain competitive advantages in the terms of effective employees for achieving business
objectives. Current report is based on Liverpool Victoria one of the largest insurance company
in UK. Present case study will comprise purpose and scope of HRM for achieving organizational
objectives. It will analyse internal and external factors influencing decision making of enterprise.
Current report will involve human resource management practices in work related context.
MAIN BODY
TASK 1
Purpose & scope of HRM in Liverpool Victoria (LV)
There are several purposes for which an organization implements human resources
management so that accomplishing predetermined objectives can become possible in effective
manner. LV as being an insurance company operating as service provider require to satisfy the
needs of customers through obtaining right staffs who are capable of accomplishing objectives.
The reasons for which LV need to execute an effective HRM in company is to get fulfilment of
various functions like compensation, legal compliance, administration responsibilities, learning
& development, health, safety measures, etc. the scope of human resource management is wide
which fulfils variety of functions which can be understood as follows:
 Human resource planning is one of the crucial activity of Liverpool Victoria for
identifying the vacant roles and task for which it requires to have recruitment & selection
procedure (Abner, Kim and Perry, 2017). It aids in getting effectual HR planning in LV
to achieve objective of getting right number of candidates to meet organizational goals.
 Job analysis provides detailed explanation of each job and function so that accomplishing
gaol of getting appropriate skilled and qualified employee to fulfil responsibilities in
most effective manner can become possible.
 Recruitment and selection procedure in Liverpool Victoria through obtaining required
information from job analysis can be exerted in most suitable manner through identifying
essential traits and attributes of candidate in turn optimum utilization of resources can be
done.
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 Orientation & induction to LV ‘s employees is implemented by human resource
department to make workers aware about background, ethics, vision, mission, etc. of
company (Aust, Matthews and Muller-Camen, 2020). It can help employees of Liverpool
Victoria to know what are targeted segment of this insurance company, strategies, etc. to
get effectual procedure.
 Training & development as well lies with scope of HRM which aids in providing skills
and tactics necessary to coordinate with changing circumstances of industry. LV highly
gives emphasis on it to make employees capable for getting performance appraisal by
sharing standard output.
 Motivation, welfare, health safety measures need to ensure by the HRM department to
sustain employees in Liverpool Victoria for longer duration via developing loyal and
committed traits in workers so that better economies of scale through getting experience
staff in firm.
 Compensation & remuneration planning of Liverpool Victoria is effectively formulated
to encourage employees to contribute efficiently in manner to achieve the objectives of
higher productivity, profitability, etc. Performance appraisal policies and procedure are
created in systematic approach by LV via evaluating jobs of its staff so that attaining
personal gaols along with business can become possible.
 Industrial relation & law compliance through managing issues & formulating suitable
working environment to adhere the standards like health, safety, equal opportunity, fair
remuneration, etc. are focused by LV’s HRM.
Different approaches of recruitment & selection along with strengths and weaknesses
Recruitment is the process of searching employees and motivating them to apply for job in
company so that better candidate can obtained (What is recruitment? 2021). Selection refers to
procedure that is concerned ith choosing right candidate for the vacant position among large
pool of applicants (What is selection?. 2021).
Recruitment is one of the crucial part of organization which provide assistance in getting
effectual pattern of processing for right candidate for further processing of selection. There are
two ways of recruitment that can be adopted by LV such as internal and external which are as
below:
Internal Recruitment
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It is concerned with filling position though identifying appropriate qualified employees
existing in firm. Liverpool Victoria as operating in insurance industry can take this method by,
transferring, temporary to permanent position filling and employee referrals can have done to
meet its goal of getting proper candidate. It has following strengths and weaknesses:
Advantages
 Reduced training cost and time by leveraging employees that already existing in
Liverpool Victoria.
 Boost employee morale can be done by promoting them for lower to upper position
(Tessema and et.al., 2020). For instance- Promoting junior analyst of LV to senior
position.
 Decrease in employee turnover as development opportunities are provided.
Disadvantages
 There will be lack of fresh perspective in company which can decline chances of having
innovative approach of doing jobs.
 Possibility of creation of workplace jealously that hinders firm’s overall performance
 Replacing employee LV is planned to transfer can as well going to incur cost to fill
vacant position.
External Recruitment
It is widely taken into consideration by organization to match with competitive traits
prevailing in current scenario (Eva, 2018). Liverpool Victoria can implement external
recruitment by indulging into activities like advertising in form of web, print, social media,
talent search, placing information on job finding based applications like LinkedIn, employment
agencies, walk in applicants, etc. Liverpool Victoria can receive follows pros & cons:
Benefits:
 Increased chances of obtaining fresher skills and inputs by getting opportunity to get
qualified employees
 Generation of creative ideas though having better competition with having competitive
spirit candidate as there is involvement from the experience of other sectors.
Limitations
 Higher risk of accomplishing responsibilities as limited understanding of Liverpool
Victoria policies & procedures.
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 High cost & time consuming as well chances of internal disputes with existing
subordinates can incline
Approaches of Selection
Selection is next step of recruitment which aids ibn getting right type of candidate at
appropriate place in Liverpool Victoria. It comprises application forms, CV, online reviewing
and shortlisting, conducting interview, ability & aptitude tests, personality profiling,
presentation, group assessment center, etc. These approaches can provide the various benefits
along with some drawbacks as each method can be implemented according to requirement of
particular job of LV.
Strengths:
 Personal observation allows to get deeper knowledge as Interview is done through face
to face interaction.
 Valuable quantitative data can be gained through group discussion so that issues in each
candidate can be identified (Macke and Genari, 2019.). Reaction and proactive approach
as per quantitative test and interviews, etc. can be taken to get better understanding of
candidate knowledge.
Weaknesses
 Integrity, cognitive ability, etc. type of test method can provide so direct question to
divert the attention of HR from practical knowledge and choosing favored answer.
 Individual can easily manipulate the interviewer answering question in favorable
manner. Taking interview is time consuming practices (Singh and El-Kassar, 2019).
There are various problems that LV can face during conducting such practices which
includes time consumption, inappropriate selection of method, low productivity, higher
employee turnover which can be overcome by implementing training & development as well
talent management practices, performance appraisal, etc. With the help of this functions it
can be identified that better talent & management practices can be implemented through
having required skills & knowledge for effective accomplishment of roles and
responsibilities.
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TASK 3
Analysing internal and external factors affecting human resource management decision making
HRM is responsible for formulating policies, working environment, etc. to get higher
productivity from employee so that insurances providing practices of Liverpool Victoria can be
executed in effectual manner. There are variety of decisions that HRM of LV need to take in
order to get competitive advantages. Employee relationship refers to having good relationship
with workers which play important role in decision making criteria of company. It is significant
to consider employee reaction in respect to modified business practices. Employee relation
refers to the practice in which workers have good relationship with ist organization due to its
effective efforts (What is the definition of Employee Relations? 2021). This play important role
in influencing HRM decision as in absence of this implementing policies, structures, etc
becomes impossible. There is requirement of good employee relationship so that resistance
practices can be avoided and adaptive working culture can be created. stay Having good
relationship with workers share in getting the effectiveness in implementing policies, procedure,
strategies, etc. to move towards success (Opoku and et.al., 2017). In absence of employee
relationship, it becomes difficult for the frim to get sustainability as staff can refuse to cooperate
with new legislation, regulations, structures, etc. in turn lower competitive position,
unproductive practices, disputes, conflict can spoil brand image of LV. It can be interpreted that
in order to have effectual decision making procedure Liverpool Victoria need to have good
relationship with ist employees. In insurance sector it is important for the company to have
good employees to maintain confidentially of client’s personal information. In absence of this
can harm goodwill as well can be sued by customers from miss use of their personal data that
can serve threat to life.
For the purpose the purpose of obtaining good terms with employees LV conducts
different types of practices. Liverpool Victoria highly concentrate that firm gets the
sustainability through declining trend of employee turnover. In order to achieve this objective
LV ensures that human resources practices are developed and effectively implemented to gain
positive relationship with internal stakeholders. Mentioned enterprise conducts regular team
meetings to increase participation level to have engaged and involved workers. It permits
employee to positively share their opinion regarding any insurance policies and offers offered by
company to its clients (Pedriana and Stryker, 2017). Effective communication, policy statement
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of recruitment & selection, etc. is adopted to provide sufficient & reliable information about
current trends and regulations which aids in building good employee relation. For example-
There is highly promoting working culture in LV to encourage employees to achieve targets so
that higher productive output to increase profitability can be exerted.
Human resource management is responsible for identifying all internal as well external
factors that can impact progress of company. Internal aspect comprises organization structure,
strategies, mission, objective, employee relationship, et. On the other side external factors
comprises political legal, social, technological, environmental aspect that required to be focused
while making important decision. Employment legislation is vital factor influencing business
decision making as it provides standard framework which Liverpool Victoria need to comply. it
is crucial to adhere to avoid irrelevant legal obligation that can harm LV’s performance and
brand image in industry.
Key elements of employment legislation and its impact On HRM decision making
Equal employment opportunity
It is one of the crucial law of employments that LV should provide equal opportunities to
its employments for growth. According to the Employment Equality (Religion or Belief)
Regulations 2003 there should not be biases in terms of giving training and development.
Liverpool Victoria need to consider this while making decision regarding learning, personal
development practices, performance evaluation & appraisal so that employees can get equal
opportunity to grow along with firm. While recruitment procedure addressed company pay
attention on utilizing resources on all deserving candidate (Masri and Jaaron, 2017). Liverpool
Victoria does not make any discrimination based on gender, age, region and gives chance for
getting opportunity to work in company.
Wages and remuneration
As per the Equal Pay Act 1970 this is concerned with offering equivalent value of pay
scale to workers as per their efforts shared. In addition to this, LV highly get affected from this
as it is essential for the firm to give better remuneration as per skills & experience required to
perform kind of activities. In insurance sector there is huge competition so HRM of specific firm
offers attractive salary to retain employees. Non adherence can impose legal charges on
specified organization in adverse manner.
Health, safety and welfare
It comprises right to know, participant and refuse kind of work that can serve threat to
life of subordinates. Health and Safety at Work etc. Act 1974 gives emphasis on getting proper
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working environment. Insurance company need to provide all crucial data to employees dealing
with customers so that all reliable & relevant information regarding policies offered at initial
stage (What is employment legislation? 2019). In order to get higher sales target
accomplishment, specified organization does not promote its employees to spread false
information. It can adversely impact the firm’s performance in longer run.
Good working condition
This refers to providing all essential equipment, tools, techniques, permission to
employees to perform task in effective manner as pert the Equality Act 2010. Providing positive
working culture that motivates staff to share high potential but standard working hours of 8 is
implemented in LV. It highly affects Liverpool Victoria decision making regarding creating
ethical and favorable working environment that can motivate staffs.
Trade unions and industrial relationship
This involves legal rights, status, obligations, collective bargaining, agreement etc. so
that better relationship among trade union & employee can obtained. Trade unions and industrial
relationship (consolidation) act 1992 is paly major role in business practices. LV get affected in
terms of deciding prices of products, etc. due to this specific employment law.
Firm need to pay attention on all these legislations while formulating decision regarding
internal and external practices related to employees.
TASK 4
Explaining Human Resource Management practices
LV Insurance company pay attention on building effective strategy for the development of
employees so that achieving objectives in efficient manner can become possible. It implements
following practices:
Recruitment and selection
HRM of Liverpool Victoria apply effective recruiting tactic to get most effective and
qualified employees that can achieve targets of company (7 human resource practices, 2021).
As being part of insurance industry it requires those candidates those who have good
communication skill and practices. In addition to this, this aids in getting ability to get
appropriate prospect that can share full potential to get higher sustainability & productivity. For
Instance- In LV recruitment and selection procedure is conducted to fulfil its vacant position
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such as sales manager through placing information on both online and offline channels so that
better candidate can be obtained to make appropriate selection.
Coaching and development
There is requirement to cope up with changing circumstances of sector which frim
require to train new trending attributes regarding usages of advanced technologies and tools. LV
focuses on providing training to developed competitive advantages in turn beating competition
can become easy. In addition to this, there is need of having developing system for getting
effective updates to get higher productivity. Liverpool Victoria provides training regarding
making good customer relationship, ways to increase conversion rate, etc. so that leader from
similar participants can become possible. For example- To cope up with prevailing covid 19
crises training regarding effectual understanding of customers’ requirement related to insurance
is provided to get higher conversion rate & client satisfaction.
Talent management
It is associated with recruiting, retaining and managing staff through motivating and
encouraging workers to contribute effectively towards success. With respect to this, Liverpool
Victoria largely apply this human resource practice in its internal process so that better
coordination in all functional areas can be attained. The purpose behind application of it is to
achieve better approach for managing and monitoring performance of employees in turn
attaining organizational objectives can become possible. It is concerned with improving working
environment through identifying lacking areas to develop productive working culture.
Performance evaluation and appraisal
Liverpool Victoria utilizes feedback mechanism to analyze performance of employees in
two-way communication method. It assists in identifying causes for the outcome derived so that
required course of action for making improvement can be applied (Nor and et.al., 2020). With
help of this, providing appraisal can be done in effective way. It helps staff to understand
criteria on the basis of which they are being judged so that suitable improvement action for
improvement of performance can be implemented by workers. This aids in making clarity about
fair practices executed by LV in its internal as well external procedure.
Reward and recognition
In case of achievement of given targets so that business goals like higher conversion rate,
greater revenue, market share, etc. can be accomplished through providing motivation via
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appraising employees in form of financial & non financials aspects. Liverpool Victoria
organizes event for awarding staffs as target achiever, most active participant in problem
solving, etc. These practices of LV motivate employees to get involved and engaged in business
practices in effectual manner.
CONCLUSION
From the above report it can be concluded that human resource management is crucial part
of organization which helps in managing and retaining employees in most productive manner.
Current case study has involved scope, purposes and functions of HRM in context of given
organization. In addition to this, present report has comprised different approaches of
recruitment & selection along with advantages and disadvantages. Factors affecting decision
making of HRM and elements of employment law & its impact has bene comprised. Present
report has involved human resources practices applicable in mentioned company.
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REFERENCES
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management: Using middle range theory to link theory and data. Review
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Aust, I., Matthews, B. and Muller-Camen, M., 2020. Common Good HRM: A paradigm shift in
Sustainable HRM?. Human Resource Management Review. 30(3).
p.100705.
Eva, T. P., 2018. Recruitment and selection strategies and practices in the private sector
commercial banks of Bangladesh: Evidence from human resource
practitioners. European Business & Management. 4(1). pp.28-38.
Macke, J. and Genari, D., 2019. Systematic literature review on sustainable human resource
management. Journal of cleaner production. 208. pp.806-815.
Masri, H. A. and Jaaron, A. A., 2017. Assessing green human resources management practices
in Palestinian manufacturing context: An empirical study. Journal of
cleaner production. 143. pp.474-489.
Nor, C. S. M. and et.al., 2020. Human resources management practices and its impact on
employee commitment Mong Staffs of Road Transport Department,
Perak, Malaysia. Journal of Environmental Treatment Techniques. 8(1).
pp.28-34.
Opoku, M. P. and et.al., 2017. Access to employment in Kenya: the voices of persons with
disabilities. International Journal on Disability and Human
Development. 16(1). pp.77-87.
Pedriana, N. and Stryker, R., 2017. From legal doctrine to social transformation? Comparing US
voting rights, equal employment opportunity, and fair housing
legislation. American Journal of Sociology. 123(1). pp.86-135.
Singh, S. K. and El-Kassar, A. N., 2019. Role of big data analytics in developing sustainable
capabilities. Journal of cleaner production. 213. pp.1264-1273.
Tessema, M. T. and et.al., 2020. Technology-Based Recruitment and Selection Approaches of
an American Multinational Company (AMNC): Practical
Implications. International Journal of Human Resource Studies. 10(3).
pp.117133-117133.
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