Human Resource Management Analysis: Merrill Lynch Case Study Report

This report examines the Human Resource Management (HRM) practices at Merrill Lynch, a financial firm located in London. It explores the goals and functions of HRM, including training, recruitment, rewards, and performance management. The report analyzes the strengths and weaknesses of internal and external recruitment approaches, as well as the selection method of interviews. It also highlights the benefits of HRM practices for both employers and employees, such as training and development, flexible workplaces, performance management, and rewards. Furthermore, the report discusses how effective HRM contributes to increased organizational profits and efficiency through improved employee performance, reduced turnover, and a motivated workforce. The analysis covers various aspects of HRM, including recruitment, employee benefits, and the impact on organizational performance, providing a comprehensive overview of HRM strategies within the context of Merrill Lynch.

Human Resources
Management

INTRODUCTION
HRM can be considered as operation that designs to improve performance of the employee
for meeting employers strategic goal and objective (Human resource management, 2019). Here
the Merrill Lynch firm which is located in central London. It has been considered that there are
various function which is applicable for employee planning and resources, it also involve the
strength of recruitment approach and its weakness as well. It also reveal the benefit of working
of HRM on employer as well as on employees and their effectiveness in order to increase the
organisational profits or earnings, and productivity. This study also give the discretion about the
importance of the employees relationship and highlights the legislation of employment which has
its influences in determination of HRM and illustrate the application of the HRM practices
related to work (Noe and et.al., 2015).
LO1
P1) Goals and functions of HRM
Human resource Management is a procedure of recruiting, training and hiring of new
applicants. The objectives of HRM are directly related to organisation's goal and mission.
Manager of Human Resource has its vital importance in strategic decision making it is the
responsibility to find high skilled employee to keep them bored and reduce workers absenteeism
and turnover rates.
Purpose of HRM are as follows
 Training- Training is organised to enhance the knowledge of employees, their skills,
attitude and behaviour as well, to ensure considerable improvement in the performance of
Merrill Lynch(Banfield, Kay and Royles 2018). Purpose of training and development in
Merrill Lynch is to enrich quality of work done by its employees. The process helps in
enhancing the growth of the employee thus, develop them professionally. Guiding the
staff member will improve the skills and talent of the worker. As skilled employee will
assist in improving the productivity of the Merrill Lynch. Training and development
programs are done so that the employees get habitual of new methods, updated
technologies and culture of working of organisation.
 Recruitment – Purpose of this function is to recruit or hire the applicants who is best fit
for the vacant post in Organisation. There are two types of recruitments ie, Internal: in
this process the organisation fills the vacancies by hiring the employees from the
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workforces who are already working within the organisation. External: in this process,
firm will hire the candidates who are from outside the organisation. Recruitment is done
with the motive to provide necessary number of skilled employees to the Merrill Lynch
so that the business process keeps going on. It determines the present and future
requirements of the organisation. Recruitment assist the selection process by reducing the
number of visible under or over qualified job applicants.
 Rewards- Different types of reward are provided to the workers when they perform well
in the job this includes variable pay, bonuses, profit sharing and stock options. This is
done in Merrill Lynch to motivate the employees. Rewards assist in boosting self esteem
of the worker. Reward system influence the employee decision to come to work or
remain with the Merrill Lynch. Rewards will increase the satisfaction for the job in the
employees.
 Performance management- Main purpose of this technique is to administer and develop.
The aim of this factor is to evaluate if the job assigned is performed well or not.
Performance management helps the Merrill Lynch is to access performance and rewards
acordingly. Thus, business objective of a firm is achieved by effective performance
management..
P2 Strength and weaknesses of different approaches to recruitment and selection.
Internal- The employees in this factor hires employees within the organization. Strength- From this process reduces the time required in hiring the candidate. It is the
cost less process and increases the employee engagement. It reduces cost of training and
saves the time as people already know the business environment. This function assist in
better selection as performance of the employee is already known by the management. It
improves employee morale. Weaknesses- The biggest weaknesses of this method is that it has limited choice. Chances
of innovation is eliminated. This process vacant another position by the Merrill Lynch.
Eliminates the process and saves time for hiring or recruiting employees.
External - In this process business used recruit people from outside the organization. Firm uses
consultant agencies support to get the deserving candidates in firm. Strength- The biggest advantage of this process is that the selection is done apart from the
business environment to invite new idea with new people. Merrill Lynch can select the
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best from available applicants. The candidate has wide range of experience. This process
is environmental adoptable. It brings fresh talent from outside which motivates the
current employees of the Merrill Lynch. Weaknesses- This process is long and take more cost than hiring from within the
organisation. The time taken to train the external or new employee is too much. When
recruitment is done from outside the existing employees feel dissatisfaction with their
jobs and may leave the organisation. Selected persons are new to the business
environment they may feel adaptability problem.
Selection method: Interview
Interview is the formal exchange of ideas between the interviewer and interviewee.
Interviewer is the persons who asks the questions and interviewee is who responds to that. Strength- Interview are useful to obtain detailed information about the personal feelings,
perceptions opinions of the candidate. This process allows more questions to be asked
from the persons. Interview achieve high response rate. This method is a flexible method
of data collection. Some interview can be less conscious in a one to one situation.
Interviews are good at producing data which deals with the topic in depth and in detail.
The interviewer of Merrill Lynch can judge the non-verbal behaviour of the respondent.
Weaknesses- Conducting an interview is time consuming as it involves interviewing,
transcribing, analysing, feedback and reporting. An interviewer can be biased. This process is
very costly. This method may be impractical with large number of respondents.
LO2
P3 Employer - Employee benifits of HRM Practices in Workplace
Benefits Employee Employer
T&D practices HRM Helping employees by
providing the training and
developing. The Merrill Lynch
organisation training
programme determine the
delivery method of based on
HRM Practices also help the
employer through training. It
develop the skill of the
employers like how to deal
with the employees more
efficiently and solve the
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needs of employees. HRM
helps employee to improve
their skill. This training
benefits the to gain additional
experience.
problems of the employees at
more appropriate manner.
Flexible workplace Employees of the modern era
have different condition and
expectation as compare to the
twenty century. In flexible
workplace the employees
customize their job to suit their
life style. It encourage them
and give them time to spend
time with family as well
On other hand HRM also help
the employer as talent retain in
the firm for longer duration
and people become more
productive which raises
profitability of the firm to
great extent .
Employees performance
Management & Monitoring
Employees performance
management by providing the
employees with a safe healthy
and safe hygienic workplace it
ensure that the employees are
comfortable at workplace It
helps to reflect the employee
performance productivity. This
boosts employees and fulfil
their monetary and non
monitoring needs.
Performance make them
capable to get more
development chances in their
career.
Employee performance
management and monitoring
also help the employer to
improve their performance as
the organisation keep on
monitoring the employers and
providing the training to the
employers and raise their skill
by providing time to time
training that how to deal or
tackle the employees which
improve the performance and
organisation keep on
monitoring the employer to
know whether employer are on
right track or not. It also give
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the very positive image of the
organisation And keep on
monitoring on the employee
and help them where the
employee needs, It increases
the employee performance.
Payment and reward
management
A successful Merrill Lynch
organization creates a positive
working environment and their
favourable environment to the
employee through the HRM
practices. By keeping
employees happy and
productive (Wehrmeyer,
2017). Here the HRM practice
reinforce or reward employees
or increment in payment of the
employees on the basis of their
well performance which help
the employees to promote
towards the positive
behaviour. This gives benefit
to workers in term of getting
more incentives for their
efforts.
Human resources management
also help the employers to
promote their positive
behavior as by providing
reward by the organization for
their good performance or
promoting to the higher or
upper post or salary increment
which helps the employers to
help in positive behaviour
towards the organizational and
their goal. And consider the
organizational goal as its own
goal.
P4 Different benefits of Human Resource Management for increasing organizational profits and
efficiency.
The technique helps in implementing Merrill Lynch organisation outputs by providing
the learning T&D practices maximising sales and customer services skill. Providing training to
the workers to enhance their performances which help to raise skill and ability that reduce the
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misunderstanding and improve the work potential, and also reduce the time. Likewise T&D
increase the performance of the employee of the organisation, which results increase in more
growth and productivity of the organisation.
Flexible work place
Human resources management helps to reflect the shifting demographic at working place,
today mass old people are still in disability as well as more part time workers are their. Through
the HRM practices Merrill Lynch organisation change the workplace of the employee more
flexible(Stewart and Brown, 2019). Merrill Lynch Organization want to hold or retain the
employees for further, they provide the flexible work environment to the employee by making
changes in work environment and work schedule composition of work team, by reducing the
pressure or force on employee and providing good communication method which help the
employees to suit their job and feel comfortable while doing job, which results effective output
for the workforce minimising employee turnover, it helps the organisation to raise it productivity
and growth in market.
Employees performance management and monitoring
HRM practices help the Merrill Lynch firm to raise in Merrill Lynch organisation profit
and productivity by keep on monitoring the employees performance through the performance
management it manage or monitor the performance of the employee on time to time and find or
help to solve out the problem of the employee when the employees needed and also provide
training to the employees if they found that employees are not performing well according to the
standard performance(Sparrow, Brewster and Chung 2016). Training improve the performance
and raise the required skill which bring back the employee in good performance and employee
start performing well which support the organisation to increase the productivity and profit by
maintaining good monitoring system over the employee performance.
Payment and Reward Management
Maximising the efficiency of Merrill Lynch organization. The Merrill Lynch firm has to
provide the reward and appropriate payment, bonus, incentive to the employees time to time so
that it motivate the employees further and it also increase the confident level of the employees
.which will bring positive behaviour and raise interest towards his work by which the employee
do full effort for the accomplishment of the work. Hence payment and reward management
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motivate the employees which results more effort by the employee towards the goal of the
organisation and it increase the profits of the organisation.
LO3
P5 employee relation and importance of it
Companies have to ensure maintaining employee relation otherwise Merrill Lynch will not
be able to work better (Nankervis and.et.al., 2016).
 Work becomes easy if shared among all. Healthy relation with the fellow workers will
ease the load on the employee of the Merrill Lynch and increases the productivity. By
this way performance management decision and recruitment decision of firm get
influenced as if production is managed then entity needs not to hire additional staff to
meet demand.
 Healthy workers relation discourages conflicts and fights among the individuals. This
helps the decision making as company can take any decision because all employees have
good relation. By this way conflict management decision of the HR get
influenced ,furthermore, it influences promotion decision of the company as well, as HR
needs not to spend much time on resolving such conflicts hence it can give more time in
promoting staff and raising their capabilities.
 A healthy relation at workplace reduces the problem of absenteeism. This will influence
in taking decision for the firm. Hence it influences recruitment and training decision of
HR, because nor human resource department needs not to hire new workers to manage
their operations in the absence of staff members.
 Good relation will increase the productivity of the Merrill Lynch. As work will be done
fast and if more work comes. It can be shared among the co-workers, thus this influence
the management in making decision when there is work load. It influences training
decision of HR as HR can arrange training programs to improve capability of workers.
 It creates as sense of motivation. All the workers work together they will be motivated.
And organisation can take any decision for the firm(Jensen, 2017). This impact on reward
decision of HR, as human resource manager can take decision to give incentives, bonus
to workers to encourage them more. Good relation impacts the overall productivity of the
organisation. It assists the management in taking policy decisions for the firm.
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 Good relations reduce labour turnover rates. As less persons will leave the organisation.
So that the money for recruiting will be saved. Thus, will influence the recruitment
decision making of the Merrill Lynch..
P6 Employee legislation
There are several laws made by the UK employment legislations. Which are as follows:
Anti discrimination- The law refers to the legislation designed to prevent discrimination against
particular groups of people(Cascio, 2015). The law impacts the decision making of the company
in this manner that the management can take decision without considering any cast or colour. It
affect the Merrill Firm as Employees can now bring a claim relating to two of the protected
characteristics. Its applies to all the employers to follow the anti discrimination laws.
Data protection- Data protection act is united kingdom act of parliament. The act was
passed in 1998. The act was developed to control how personal or customer information is used
by organisation or government bodies. It protects people and lays down regulations about how
data about people can be used. It affect the firm that the data of Merrill Lynch can be secured.
This act reduces the chances of thefts. The decision making will be more easy as the firm knows
that the data of the firm is secure(Jensen, 2017). It assists the better business management and
customer security. Now HR has to take decision to implement such software that may help in
managing details of employees properly and can avoid issue of leakage of data.
Health and safety act 1974- The health, safety and welfare (HSW) regulations apply to
all aspects of the working atmosphere and require employers to provide a workplace which is
not only safe but also suitable for the tasks that are being carried out within it (Nankervis
and.et.al., 2016). It impacts the decision making as the Management have to take care of the
health of the organisation. It benefits the organisation as it reduces the sick leave absenteeism.
The manager will make the worker work in good environment and avoids to work in the hazards
environment. Merrill Lynch has to make different policy regarding the health and safety of the
employee. This impact on safety decisions and training decisions of HR, HR has to arrange
training for staff to make them aware with safety equipment’s and their uses so that accidents can
be avoided at business.
Equality act 2010- Equality Act Which amends as title 7, the act explicitly add
discrimination on the basis of gender identity sexualility., Title 7 generally protect the employees
from the unlawful discrimination on the workplace, Title 7 protect employer not to take decision
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on the basis of employee colour, age, race, sex, national origin and religion.
(Brewster,Mayrhofer and Morley, 2016.). The equality act would reduce the sexual orientation
and gender identity, hence equality act legislative helps the human resource management to stop
taking decision on the basis of colour, age, gender, As it act shows the equality among the
employees, as all employees are equal for the organisation. In the Merrill Lynch organization
certain group of people are protected from discrimination act((Baum and et.al., 2016). ). Under
this discrimination act the HR manager can protect the business from discrimination lawsuits by
understanding this law and make decision to avoid the discrimination. In this HR manager work
with the upper management to quickly find out the employees problem, compensation employees
and discipline manager who discriminate among the employees. And hence discrimination act
reduce or stop the discriminate among the workers on the basis of their colour, age, gender and it
help the HRM to make decision by keeping this act in mind (Banfield, Kay and Royles, 2018).
LO4
P7 Applications for HRM practices
Agenda of training
Training seminar are done by the hotels to improve the working of the staff. The major
purpose of providing training is to guide the worker to do the following tasks. To train the
employee to greet and treat the visitors with the helpful and positive attitude. Guide to maintain
workplace security by collecting badges as according to the requirements and maintaining the
visitors data. Answer phone calls in professional manner(Bratton and Gold, 2017). Training is
provided so that all the work will be understand by the employee. This process teach the staff
members their duties and responsibilities as receptionist.
Job advertisement for KCB
Company Name KCB
Post Front office receptionist
Location Central London
Salary The average salary of the candidate will be
$14000.
Role.  Greet visitors,
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 Answer phone calls and routes them
 Maintains order of the front desk
including filling and ordering main
supplies.
 Deal with queries from customers and
visitors.
Experience Required  1-2 to years of experience of the
receptionist. Preferably graduate,
having good communication skills in
English.
 Candidate must have basic knowledge
of computer
Interview questions which will be asked by HR business manager.
 Tell me about yourself.
 What are your strength and weaknesses
 What you know about our company and why you want to work with us.
 Where do you see yourself in next five years
 Have you faced any challenged situation.
 How much experience do you have in this field
person specification
essential Desirable
Education
Masters in business
administration
Graduation degree Yes
Yes
Experiences
2 year experience in relevant
field
Yes
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More than 4 year experience of
being receptionist Yes
Skills
Communication skill
Technical skill
Problem solving skill.
Management skills
Yes
Yes
Yes
Yes
CONCLUSIONResponsibilit
ies
Greet visitors
Answer phone calls
Maintains front desk order
Operating the payment point
and handling payments
Promoting services and special
offers
Yes
Yes
Yes
Yes
Yes
CV for receptionist-
Personal details
Name – Mr. John
Address- 23 A moon house colony, London
Phone no. [phone]',
Fathers name- Mr. George
Date of birth – 8 February 1992
Martial status – single
Objective
An committed and enthusiastic receptionist seeking a a position with Merrill Lynch company to
bring professionalism and poise to their front line. Efficiency in operating a multi-line telephone
system, providing clerical support and capable to deal with customers and queries.
Work experience
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 Have 2 years of experience as receptionist.
Academic Qualifications
 Master of business administration(MBA) passed with 70%
 Bachelor of commerce (B.com) passed with 65%
Skills and abilities
 Have basic computer skills: MS office, MS excel
 Technological skills.
 Good management skills
 fluent in speaking English
 Excellent written and verbal communication skills
Hobbies and interested
 I have interest in playing outdoor games like cricket and football.
 Like to seek knowledge about new gadgets and technology.
 Travelling with friends
Signature
Date
.
CONCLUSION
From the above study it can be summarised that HRM is an very important for the
organization HRM functions and purposes are training, reward, performance management which
is usedt to enjance,, motivate and helps in devloping the skill of the employee which is From the
above study it can be summarised that HRM beneficial for employees. Further the study
conclude weakness and strengths of different approaches to recruitment and also the benefits of
different HRM practices. The report also highlights the importance of relations in Human
resource practices. And study also reveals the element of employment legislation & different
application of human resources practices.
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REFERENCES
Books and Journals.
Banfield, P., Kay, R. and Royles, D., 2018. Introduction to human resource management.
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Bratton, J. and Gold, J., 2017. Human resource management: theory and practice. Palgrave.
Brewster, C., Mayrhofer, W. and Morley, M. eds., 2016. New challenges for European resource
management. Springer.
Cascio, W.F., 2015. Managing human resources. McGraw-Hill.
DeCenzo, D.A., and et.al.,2016.Fundamentals of Human Resource Management, Binder Ready
Version. John Wiley & Sons.
Jensen, R.S., 2017. Pilot judgment and crew resource management. Routledge.
Nankervis, A.R. and.et.al., 2016.Human resource management: strategy and practice. Cengage
AU.
Noe, R.A. and et.al., 2015. Human resources management. Instructor, 2015.
Sparrow, P., Brewster, C. and Chung, C., 2016. Globalizing human resource management.
Routledge.
Stewart, G.L. and Brown, K.G., 2019. Human resource management. Wiley.
Wehrmeyer, W., 2017. Greening people: Human resources and environmental management.
Routledge.
Online
Human resource management. 2019. [Online]. Available through
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ntroduction.htm>
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