HRM Report: Analysis of HRM Practices at JP Morgan, London

This report delves into the realm of Human Resource Management (HRM), examining its core functions and purpose within an organization. It uses JP Morgan as a case study. The report explores the significance of HRM in talent acquisition, employee development, and fostering positive employee relations. It analyzes different recruitment and selection approaches, including internal and external methods, evaluating their respective strengths and weaknesses. Furthermore, it examines the benefits of various HRM practices for both employers and employees, assessing their effectiveness. The impact of employee relations on HRM decision-making is also discussed. The report concludes with an overview of HRM practices in a work-related context, providing a comprehensive analysis of HRM principles and their practical application within a business environment.

HUMAN RESOURCE
MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Purpose and functions of HRM.........................................................................................1
P2 Different approaches to recruitment and selection............................................................3
M1 How functions of HRM can provide talent and skills to fulfil business objectives. .......6
M2 Evaluate strengths and weaknesses of different approaches to recruitment and selection...6
M3 Critically evaluate the strengths and weaknesses of different approaches to recruitment
and selection, supported by specific examples. .....................................................................6
TASK 2............................................................................................................................................6
P3 Benefits of different HRM practices for both employer and employee............................6
P4 Evaluate the effectiveness of different HRM practices.....................................................7
TASK 3 ...........................................................................................................................................8
P5 Importance of employee relation to influence HRM decision-making. ...........................8
P6 Impact upon HRM decision-making...............................................................................10
TASK 4..........................................................................................................................................12
P7 Illustrate HRM practices in work related. ......................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Human resource management is a systematic planning, development and controlling
interrelated that defines an expression of beliefs in employee for the success of an organisation.
This includes HR planning, forecasting, job design, staffing, recruitment, training and
development to improve the overall performance of a business firm (Hendry, 2012). Also, it will
support to maintain respect and dignity among existing business enterprise. Human resource
management is necessary for each and every business firm to deals with people as complete
individuals, provide opportunities for growth and development, rewards should be earned and
many more.
As HR assistant at JP Morgan firm in central London to assist in human resource
activities of an organization. It is a commercial and investment banking which is founded by JP
Morgan nearly 1871. This project covers the purpose and function of HRM, different approaches
related to recruitment and selection, benefits of different HRM practices for employer and
employee. This also includes effectiveness of different HRM practices of JP Morgan company
limited.
TASK 1
P1 Purpose and functions of HRM
In general terms, human resource management is a function of a business firm which is
designed to maximize the performance of employees in service sector against strategic goals. It
refers to learning of managing the people and other actions of a business organisation in extreme
efficient and helpful manner (Bratton and Gold, 2017). This is the most effective source that can
place employees in jobs in less period of time. As, it plays a crucial role in a business firm such
as JP Morgan which required HR assistance for their organisation.
Scope and nature of HRM
HRM involves management scope and nature which helps in to attain goals of a business
enterprise. These are discussed as below:
 Human resource management is inherent part of every management level because
manager wants their best out his people. This will assist them in motivating, training and
appraise their subordinates in a business organisation.
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 HRM involves various functions concerned with managing people from work force,
planning, recruitment, placement, training and appraisal to compensation of employees.
 Using of audit of personnel policies, procedures and practices of business firm. Motivating the employees by providing sufficient or proper financial and non- financial
benefits (Brewster and Hegewisch, 2017).
Hard and Soft approaches of HR assistance
There are variety of ways to approach management of HR in a business firm. Hence, there are
two broad approaches to human resource management are explained further below as: Hard HR: This type of HR treats their employees as a resource of a business firm such as
machines or premises. The main focus of this type of HR is to identify labour force needs
of a business and their recruitment. It includes short- term changes in employee
recruitment, minimum communication regarding issues or discussing about something or
other from top to bottom. They pay enough to recruit and retain staff by paying minimum
wages. They prefer autocratic leadership style.
 Soft HR: This type of HR treats their employees as a most essential resource for a
business and concentrate on the needs of employees, their roles, rewards, motivation, etc.
It focuses on longer term man- force planning, they create two- way communication and
uses democratic leadership style (Armstrong and Taylor, 2014). Soft HR employees are
empowered and encourage to seek delegation and takes responsibilities.
Therefore, JP Morgan should adopt soft HR approach which help them in improving their
relations with customers as well as business person which can create their wealth to obtain
desired objectives regarding business firm.
Purpose of HRM
 Remuneration and reward: This is a foremost purpose to remunerate human resources
of a financial industry. HR provides best remuneration to their staff as per their
eligibility, experience and job role. To perform better to best performance they motivate
through rewards while effective performance. This can be done by providing bonus,
incentives, offering trip for holidays and so on.
 Resources planning: It is a foremost purpose of HRM to make plan for manpower. For
example, if employees required in JP Morgan, planning is necessary for these aspect to be
done by HR manager of this company. Moreover, when resources are contributed
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employees get motivated for learning new things related to business (Briscoe, Tarique
and Schuler, 2012).
 Retention: This is an important factor of HR as people do not feel secure regarding their
job or if company pressurized them to do their work. This can lead to increase job
retention, absenteeism and that will overcome into labour turnover. Therefore, use of
HRM practices in a company can reduces all the above factors related to reduction in
absenteeism.
Function of HRM
 Staffing: It can be an effective method which can possess specific position for right
person for a right job. This helps in to achieve business goals, human resource
management performs various effective functions such as job analysis, recruitment,
selection and many more.
 Selection: This is a final systematic process through which a business enterprise
identifies best person from pool of individuals that can effectively fulfil requisite criteria.
It can be done through performing desired duties in JP Morgan company limited.
 Employee and labour relations: This part deals with unionism of employees which has
become popular in recent years. Now it is compulsory by law for its employees to take
part in unionism (Daley, 2012). If employees want to join union, business firm cannot
pressure them for prevention.
P2 Different approaches to recruitment and selection
JP Morgan is an investment and finance company which needs staff to handle the
activities. As it has deals in various kinds of products such as bond trading, brokerage services,
capital market services, consumer banking, consumer finance, corporate banking, credit cards,
and so on. That's why it needs to hire the staff to manage the activities and banking operations.
In order to hire the staff it needs to adopt the recruitment and selection methods that are internal
and external recruitment. Jp morgan wants to recruit some proficient candidates in order to gain
more profit and increase revenue. Recruitment is a systematic process which is used to hire
desired candidates for vacant job position. This can be done through various approaches such as
internal and external selection of individuals. Selection is the next phase after recruitment in
which they have to face varieties of tests and aptitude for a selecting a suitable candidate for the
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job position. There are different approaches recruitment and selection which are used by the HR
manager of JP Morgan. These are given below as:
Internal approach: This approach deals with internal recruiting process which help
employees in their promotion, transferring and employee references. The HR manager initially
look for the existing employees who are working well and deserve the promotions. The HR
informs about the vacant position at JP Morgan and then tell them to apply for the job role. After
getting the information, employees can appear for the interview and the best candidate can get
recruitment for the senior designation (Huselid and Becker, 2011). There are various ways to
adopt internal approach these are discussed in detail as:
 Promotions: It can be done by analysing the performance of each employee. If they are
fulfilling the needs of JP Morgan through enhancing the banking business then they can
get the promotion. This method can be applied by improving the performance of an
individual to enhance their existing working criteria. It can measure through 360 degree
performance appraisal in which employees performance is measured.
 Transferring: JP Morgan can transfer their employees to other branches after recruiting
them on a new position or can retain in the same branch. Therefore, HR assistant plays a
vital role in transferring employee to other branch as per the requirements for the purpose
of fulfilling vacant post
External approach: This can be done by drawing wide range of talent, that helps in to
provide opportunities or bring new experience and ideas into a business firm. There are various
methods that can be opt by JP Morgan in order to bring new people with a new concept
(Jackson, Schuler and Jiang, 2014).
 Campus drive: This method includes to drive students from their colleges which is an
effective method to take eligible candidates for the desired post. JP Morgan can hire new
talent from B - Schools in order to enhance profit of the firm.
 Factory gates: This method involves walk in interview through which JP Morgan can
choose desired candidates for a vacant job position.
 Online sites: This is another method to hire employees through online job portal which
help HR assistant to spread out the information for the vacancy and then it can call the
desired aspirants for the interview. The HR of JP Morgan can conduct various kinds of
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interview rounds such as logical, statistical, screening and face to face. If the HR is
satisfied by the candidate then they can hire the aspirant for the particular job role.
On the basis Advantages Disadvantages
External  In external recruiting
and selecting method,
JP Morgan get new
ideas.
 By adapting external
recruiting process, JP
Morgan expect growth
from the fresh ideas
and talent (Guest,
2011).
 In case of external
recruiting and
selection, it is a time
consuming method as
they have to post
advertisement,
brochures and many
more.
 As company is hiring
new candidates they
adopt more risk
because new joineries
do not worth that how
much a business
enterprise is paying on
them.
Internal  This reduces the time
as well as cost because
JP Morgan is
promoting the
employees in house
resources.
 By adopting this
method, employees can
make them more
attractive towards
employers.
 As company is hiring
existing employees.
Therefore, they have a
limited choice while
recruiting the existing
employees.
 By using this method, it
can create conflicts
among colleagues
which can cause a
negative impact on
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their morale.
M1 How functions of HRM can provide talent and skills to fulfil business objectives.
The function of Human resource management is used to refer learning and adapting the
business skills to enhance their performance as well as improve existing working performance by
using the skills, abilities and knowledge of an employee (Marler and Fisher, 2013). This can
reduce the job insecurity, retention, absenteeism and employee turnover. Training and
development is a major function which assist in increasing the performance of employees. This
requires huge amount for hiring experts and trainers to fulfil the required needs of a business
firm. It includes personal abilities, aptitude, capacity, capabilities and many more.
M2 Evaluate strengths and weaknesses of different approaches to recruitment and selection.
In order to measure the strength and weaknesses of various approaches such as external
and internal recruitment and selection which can able to analyse the performance of an individual
(Cascio, 2018). This includes activities related to internal promotion, hiring new employees to
get new and fresh ideas. It also, helps in to apply the measures which can influence employees to
give their best. The internal and external factor can determinant the power of an organisation
which can help them in achieving objectives.
M3 Critically evaluate the strengths and weaknesses of different approaches to recruitment and
selection, supported by specific examples.
In case of an internal recruitment and selection a business firm can improve their
performance by motivating through an existing worker. This can increase the work efficiency
which can improve the overall performance of an organisation. Whereas, in case of external
recruitment and selection process a business enterprise can adopt different methods such as
advertisement, pamphlets, online sites, campus placement and many more.
TASK 2
P3 Benefits of different HRM practices for both employer and employee
The human resource management is a process of linking between the goals in order to
improve and drive performance (Albrech, 2011). It involves recruitment, hiring and managing
employees. This plays a crucial role within an organizational culture and business. There are
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various benefits of different HRM practices for both employees and employers. At Canary Wharf
branch of JP Morgan , below mentioned managers and workers are enjoying following benefits :
Benefits for employees
 Training and development: At Canary Wharf, JP Morgan is offering effective training
as well as development sessions to their staffs in order to improve their existing
capabilities. (Renwick, Redman and Maguire, 2013).
 Health and safety: JP Morgan is ensuring to their workers that they will receive proper
health and safety environment. In this context, they are observing all kinds of risks
present at working site and trying to remove the same. Clean and safe surrounding is
being provided by them so as to keep their staffs disease free.
 Recruitment: JP Morgan is using internal approach of recruitment along with external
one. In this context, they are offering chances to their old employees for growing their
professional career by providing them appraisals in the form of high post.
Benefits for employers
 Reduction in conflicting situation : By implementing HR activities, managers of JP
Morgan are also getting benefits. Disputes are being reduced effectively as they now
become capable of interacting closely with their team associates.
 Stronger workforces : Since managers of JP Morgan are providing training classes to
their employees, their skills get automatically improved. By this way, they become
stronger in context to capabilities. As a result, employers will receive strongest
workforce.
P4 Evaluate the effectiveness of different HRM practices
There is different ways of HRM practices which recruiting new employees as well as
bring a positive impact on HRM decision making. In order to achieve pre-determine productivity
of firm to understand several thing to increase the profit of an organisation. This includes as
 Learning, developing and training: This is an essential for JP Morgan has been
experience that leads to increase the productivity and performance of an employees. An
employee also needs to trained and improve their existing skills after recruitment.
 Flexibility in work: JP Morgan providing flexibility in work to their employees because
it motivates their workers to accomplish their work effectively and efficiently. There are
some women who have to work in support to their family and children (Nickson, 2013).
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 Employee performance management: This can be described as to observe, analyse and
evaluate performance of staff members on regular basis so that required actions can be
taken to complete objectives of JP Morgan. It includes the criteria to first set standards of
performance and then calculate actual working of employees and then determines gap
between booth of them. Thus, it will provide support to take an appropriate cations like
training, learning and educational programs to improve skills to gain desired goals
properly. The JP Morgan can utilise several effective strategies or techniques to improve
regular productivity of workers that helps to attain better profitability which facilitates to
achieve growth of business successfully.
All of these practices should be adopted by the human resource manager to enhance the
efficiency and effectiveness of staff members.
TASK 3
P5 Importance of employee relation to influence HRM decision-making.
In a business organisation, employees re known as their key strength who assist to
provide their proper contribution in order to attain future goals and objectives. To manage
business activities and approaches, Human resource manager plan a impactful strategy in order
to maximise employees performance and build positive relation between them (Budhwar and
Debrah, 2013). These activities assist to create positive culture within organisation so that other
employees are also feel motivated to provide better performance for achieving predetermine
goals and objectives of firm. JP Morgan is a large scale financial institute that provide affordable
funds and capital to their customers. In this organisation, HR manager play a most important role
in order to create a positive relation between their workforce that helps to manage business
activities properly. For this, HR manager requires to create a impactful strategy that helps to
attain their target effectively as-
 Sharing work: For HR manager of JP Morgan, it is require to analyse employees skills
and working approaches that assist to determine their capacity for better performance. On
the basis of this, HR manager needs to share work and task for getting better results and
outcomes. For getting better results, HR manager of JP Morgan needs to engage two or
more employees together that help to create team working behaviour between them.
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Sharing of work helps to manage conflicts and issues by resolving them equally by two
different employees.
 Employees loyalty: In a business organisation, most important activities is known as
employees loyalty that assist to create positive environment for others (Bos‐Nehles, Van
Riemsdijk and Kees Looise, 2013). In this process, HR manager of JP Morgan requires to
communicate positively with their employees that assist to analyse their issues and
problems easily. Through this, they can create loyalty between their employees toward
each other as well as business firm. In a financial organisation, these approaches take a
most important role because they all deal with confidential record of customers that
require to manage with full loyalty. HR manager of such financial institutions are liable
to create employees loyalty toward their customers too. These approaches assist to
maximise consumer trust toward business firm to engage with them for a long term of
period.
 Resolving conflicts: In a business firm issues and conflicts can be arise while employees
are working together. In this process HR manager requires to analyse how to resolve
them easily in order to create a positive working environment in organisation. Conflicts
resolving strategy of HR manager helps to reduce employees turnover within
organisation to make workers stable in firm for a long duration. In JP Morgan financial
institute, these activities are require to manage in order to resolving financial as well as
cash related issue for better outcomes.
 Use better communication process for maintaining equality: JP Morgan is a large
scale business firm in which number of employees are working together. They all worker
are provide their better services in order to achieve organisation's target and objectives in
effective manner (Pieper, 2012). For this they needs to implement positive
communication mode that assist to analyse customer's requirement to provide exact
services to them easily. For this HR manager of Firm is liable to initiate effective training
method in which they can easily enhance interpersonal skills of their workforce for
getting better outcomes.
Apart from above discussed factors, Trade union in company made up of members who
are employees. Its main purpose to protect as well as advance their member interests. In UK,
trade unions were the basic decriminalised within the royal commission recommendation. Its
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