Human Resource Management Report: Thames Building Society

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Human Resource Management
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Table of Contents
Introduction....................................................................................................................................3
Task-1..............................................................................................................................................4
Task-2..............................................................................................................................................6
Task-3..............................................................................................................................................8
Task-4............................................................................................................................................10
Conclusion....................................................................................................................................11
Reference......................................................................................................................................12
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Introduction
This report contains details about the Human resource of the organization. HRM performs the
job of finding, recruiting and providing training to the new and existing employees in the
organization. As the HR director of Thames building society, there are many roles to perform
and the objectives are also set which the HR director has to fulfill. HR is a position in every
organization which is very crucial. HR planning is very important because it will plan the
required candidates in the organization with some particular skills within them. The sales of
Thames building society are decreasing and this will be improved by providing and fulfilling the
shortage of the manpower requirement. The relationship between the HRM and the performance
in the organization is very important because they both are linked with each other. There are
many laws and legislations for the employment which is very significant for the organization and
the organization have to obey these laws.
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Task-1
Human resource management is a process in which the employees for the organization will be
recruited, hired and provide training to them. There are some professional is the organization
who will perform this function and they are known as the human resource of the company. HRM
is a formal system in the organization. The main responsibilities of the HR are to perform
staffing functions, design and pay compensation and other benefits to the employees and to
design and assign their work. Their main purpose is to increase the productivity in the
organization with the help of optimizing the effectiveness of their employees (Bratton, and Gold,
2017).
Purpose of HRM in Thames building society
 Customer management: The HR of the organization tries to attract and retain a good
workforce in the organization and make some policies to attain this purpose. The
compensation, team structure, and benefits will also be designed by the HR manager.
 Staffing: The major responsibility of the human resource management is to hire new
employees and select the best of them to retain them in the organization. This process
will be started by recruiting the candidates and find new persons through many sources
like an advertisement. They perform the function by screening the candidates, taking a
pre-employment test and coordinating with the firing (Delery, and Gupta, 2016).
 Benefits for management: The benefits for the management as well as for the employees
can be attained by providing health insurance, plans for retirement, some paid leaves, etc.
benefits can also be provided in the form of compensation which includes salary and
wages, programs for incentives and bonus to the employees
 Maintaining relations: Human resource has to build good relations with their employees
this help them in retaining more employees in the organization by understanding their
problem and provide a solution to them.
 Plans and policies: HRM has to provide retirement plans and benefits, provide conflict
resolution within the company (Baron, 2016).
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Objective of HRM
1. Social objective: HRM has to fulfill the objective of society. It can be fulfilled by
complying and following legal and ethical rules and regulations. They have to satisfy all
the needs and wants of the society by understanding their requirements of the society and
providing the products and services according to their needs and wants to satisfy them
and try to bring harmony between the relations of the union-management (Bratton, and
Gold, 2017).
2. Personal objective: Management should provide proper training and development
programs to those employees who newly join the organization and to those existing
employees who have a lack of knowledge. Try to manage the performance of the
employees by his experience, skills, attitude, personality, and knowledge.
3. Functional objective: This objective helps the organization as a support system by
managing the performance of the organization. Evaluate and try to enhance the
performance and the role of the employees inside the organization. Also, try to manage
the relationships with the managers as well as with the labors.
4. Organizational objective: They try to improve the overall effectiveness of the
organization. They try to coordinate all the activities and processes of the organization to
accomplish the mission of the organization (Baron, 2016).
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Task-2
Human Resource Planning to improve sales at Thames Building Society
It is planning under which management tries to bring the current manpower of the organization
to the desired position. It is planning in which the management tries to have the right number of
people at the right place and at the right time. It includes forecasting the resource requirement in
the future and evaluating the current manpower and take steps to make them equal.
In the context of Thames Building Society where the sales are disappointing, HRM will forecast
the future sales and make plans and policies to attain them. They will perform the function of
recruitment for the staff requirement with the skills required in them to achieve the objective of
increasing sales. So the first process in this is finding out the candidates who are ready to recruit
in Thames Building Society and then the HR will select the desired candidate based on a
particular process for recruiting and selecting the best suitable employees for Thames Building
Society. After selecting the best candidate the HR will arrange training program for them to
make them or to make them learn the skills which are required into them to serve the purpose of
the organization (Baron, 2016).
The main aim of Thames Building Society is to improve their sales so they will try to train the
new and existing employees in such a manner so they have to capability to optimize the resource
effectively and efficiently and try to minimize the cost of production with the required quality of
the product (Bratton, and Gold, 2017).
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Characteristics of HR planning:
 Predetermined objectives – The objective of Thames Building Society are well defined
and pre-planned which is to improve the sales by fulfilling the shortage of the employees
in Thames Building Society. With the help of well-defined objectives and goals, the goals
can be achieved efficiently.
 The requirement of human resource – HR of Thames Building Society plays the role of
fulfilling the needs of the human resource in the organization. The HR of the organization
will make the process of recruiting, selecting and the training process to make the new
candidate available at the time when they are required.
 Keeping manpower: The manager of human resources in Thames Building Society will
always keep ready the employees who will take higher responsibilities in the
organization.
 Adjustment of demand and supply: The requirements of the human resource for the
future in the organization will be planned in the advance. To make available the persons
for the future whenever they are required (Delery, and Gupta, 2016).
 Work environment: The human resource manager of the organization should have to
create a proper work environment and the working conditions are also according to the
employees or feasible to the employees (Bratton, and Gold, 2017).
Objectives of human resource planning:
 To ensure the proper utilization of the manpower in the organization.
 To make sure that the resource will be available when and wherever required.
 To check the requirement of the skills in the employees.
 To predict the technological changes impact on the job and the resources.
 Managing the employed resources in the organization.
 Checking the requirement and the excess of the resources.
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Process of HR planning:
 To forecast the needs of the employees in the organization. Identify the number of
human resources that are required in the Thames Building Society.
 Evaluate the supply of the resources in both internal and external source and then
select the source which has to be considered.
 The organization has to make a balance between the demand of the manpower
and in their supply (Baron, 2016).
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Task-3
How to retain employees and improve their performance in Thames Building Society:
 Employ the right kind of people – Hire those employees who have the right kind of skills
according to the job requirements. The HR manager should have to search for those
candidates whose skills and knowledge will suit the job vacant position. Then check the
applications of the candidates who applied for the job and then select the best suitable
candidates for the job (Mamun, and Hasan, 2017).
 Pay and benefits – The standard expenses of the employees must be covered by the
organization because if the employees will not get sufficient pay then they will not
perform properly and also then the turnover rate of the employees will be increased in the
organization. HR of the company should also have to evaluate the payroll of the
competitors so that their employees will not raise a question about their payroll. Not only
have the basic salary employees also wanted competitive benefits. So the business has to
evaluate the best benefit scheme for the employees and have to prove that.
 Praise – When the employees have done something good for the organization than the
human resource manager has to praise the employees. Employees need recognition and
encouragement (Bratton, and Gold, 2017).
 Flexible work schedules – The Company should have to allow the employees to adjust
the work according to their work location and time.
 Involvement in management – HRM always has to try to involve their employees in the
process of decision making and also in the discussion about the vision, mission, and goals
of the organization.
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 Training – For the net talent in the organization provide proper training to them to make
them understand about the working of the organization. Training for them is required to
make them understand and to build the skills and knowledge about the technology and
the working of the organization. Training is not only required for the new employees but
also for the old employees when there will be some changes in the policy or the
technology of the company.
For Thames Building Society employees the aim is to increase the sales so the HR will
provide training to the employees to make them learn about how to increase the sales of
the organization and how to minimize the cost of the product.
 Goals and responsibilities – Let the employees know about the goals of the organization
so that the employees will work in such a manner so that the goal will be effectively
attained in Thames Building Society and also let them know about their responsibilities
in Thames Building Society so they will fulfill that responsibility.
 Career opportunity – Provide the career opportunity to the employees and also the
opportunities for their personal growth with the help of providing education and training
to them (Baron, 2016).
By performing all the above activities the human resource manager will be able to retain
more employees in Thames Building Society and also new employees will be attracted to the
company. By providing proper training and proper pay scale and benefits to the employees
they will get motivated to retain in the company and when they will perform better in the
company encourage them this will help them in perform better. By doing all this the overall
performance of the organization will also improve as well as the productivity will also
enhance (Mamun, and Hasan, 2017).
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Task-4
The employment laws are a broad term which contains all the aspect of the employment. These
laws protect the labor and safeguard them against the unfair dismissal and the discrimination on
the basis of color, caste, age, gender and society. These laws ensure the equality and non-
discrimination will be taken place at their work.
The laws of the employment cover many things under them some of them are discrimination
among the age, race, religion, gender, bullying and harassment, disability, employee grievances
and dismissal, contract of employment, equality in pay, minimum wages, parental leave and the
working hours (Barlow, et. at., 2019). All these will help in protecting the employees at work,
protect their employment rights.
The laws of employment is ever-changing continuous improvement in the m will be taken so
each and every type of organization should always be updated with these laws.
The existence of labor laws is very important for the business because they regulate the
relationship in between the business with their employees. By complying with these laws and
legislations the employers and employees can make sure that the hiring process, the dismissal
process and the place where they work will be fair for every individual (Barlow, et. at., 2019).
The laws of human resources had a great impact on the Thames Building Society. The impact
will be on the organization, manager of the HR and also on the employees of the organization.
The practices of HR have many rights and the activities are protected by the laws of
employment. The legislations on the HR have imposed them with some legal responsibilities on
the employer. The HR must be updated with all the current laws of the federal, state and local.
Some of the laws are same for all types of organization with different geographical locations
(Bratton, and Gold, 2017).
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Some of the common employment laws for all types of organizations are the law of non-
discrimination and the equal employment opportunity, the right to privacy and freedom to join
and form unions.
1. Non-discrimination and the equal employment opportunity: Discrimination among the
employees based on race, gender, and age will be eliminated by this legislation. All the
employees should be equally protected under this law which has been applied in all the
states. But the class of the discrimination will be added by the state and the local law.
This law safe the employment of the employees and make them confident that they will
not be discriminated against in their job on any basis. This makes the employees feel safe
and secure in their workplace (Barlow, et. at., 2019).
2. Freedom to join and form a union: Under the Act, all the employees are free to join any
union and also to make a new union. The union has a purpose to form and the purpose
can be to improve their working conditions, to get fair remuneration, to treat them equal,
etc. union will form to protect their rights.
The union can be registered or unregistered and there will be a leader of the union who
will put their problem and demand a solution for their union.
3. Minimum standards for terms and conditions of employment: The employment laws have
some kind of minimum standards that the employers will have to pay, provide safety and
facilitate leaves for the work. The employers also have to pay overtime wages and
provide family and the medical leave act to the employees (Baron, 2016).
Some of the acts with the rights they provide is mentioned below:
 The Employment Rights Act: The rights provided by this act is the terms and conditions
of the work will be provided in writing, protection will be provided against the unfair
dismissal at the work, national minimum wage will be provided.
 The equal pay act: Both the men and women will receive same pay for the same type of
work.
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