Human Resource Management Report: JP Morgan, HRM Practices

This report provides a detailed analysis of Human Resource Management (HRM) practices at JP Morgan, a financial services firm. The report begins with an introduction to HRM, its purpose, and functions, highlighting its importance in recruiting, selecting, training, and compensating employees. Task 1 explores the purpose and functions of HRM, evaluating different functions and approaches to recruitment and selection, including internal and external methods. Task 2 delves into the benefits of HRM practices for both employers and employees, examining various methods and their effectiveness in raising revenues and productivity. Task 3 focuses on the importance of employee relations and key elements of employment legislation influencing HRM decisions. Task 4 applies human resource practices in a work-related context, providing rationales for specific practices and critically evaluating employee relations. The report concludes with an overview of the key findings and references to relevant sources.

Human Resource
Management

Table of Contents
INTRODUCTION .........................................................................................................................1
TASK 1 ...........................................................................................................................................1
P.1 Purpose and functions of HRM.............................................................................................1
M.1 Evaluate different functions of HRM .................................................................................3
P.2 Strengths and weakness of different approaches to recruitment and selection....................3
M.2 Strengths and weakness of different approaches to recruitment and selection ..................5
M.3 Critically evaluate strengths and weakness of different approaches ..................................5
TASK 2 ...........................................................................................................................................6
P.3 Different benefits of HRM practices for employer and employee.......................................6
M.3 Different methods used in HRM practices..........................................................................7
P.4 Evaluate effectiveness of different HRM practices in raising revenues and productivity ...8
D.2 Critically evaluate HRM practices and application in organization ....................................9
TASK 3 ...........................................................................................................................................9
P.5 Importance of employee relations in influencing HRM decision making............................9
M.4 Key aspects of employee relationship management .........................................................10
P.6 Key elements of employment legislation that can influence HRM decisions ...................11
TASK 4 .........................................................................................................................................12
P.7 Application of human resource practices in work related context .....................................12
M.5 Rational for application of specific HRM practices .........................................................15
D.3 Critically evaluate employee relations...............................................................................15
CONCLUSION .............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Human resource management is the process in which company manages the human and
other resources related to personnel (Arrowsmith and Parker, 2013). Manager create effective
strategies and policies so that they can easily recruit and select competent staff members for their
workplace. HRM also give training and compensation to employees in order to make perform
effectively. Firm can earn more revenues and they can easily enhance market share which helps
the organization to maintain good image in minds of users and in overall industry. Assignment
describes about JP Morgan which provide financial services to all people which was established
in U.K. Report explains about the purpose and scope of human resource management. It also
describes about effectiveness of key elements of HRM in organization. This discusses about
evaluation of internal and external factors that affect human resource decision making. Report
explains about application of human resource management practices such as C.V., job
description and job specification etc.
TASK 1
P.1 Purpose and functions of HRM
Human resource management include all activities related to management of company. It
includes recruitment and selection of competent employees and provide them adequate
compensation etc.
Strategic Human resource management is process through which organization tries to
create good relationship with employees by creating various plans and policies. Manager can
motivate workers so that they can perform better.
Workforce planning us the process in which company creates various plans and policies
related to benefit of staff members. The responsibility of manager is to align employees personal
goals with that of organization goals.
Every organization has their own objectives and goals (Baluch, Salge and Piening, 2013).
Organization creates strategies and policies so that firm can manage the human as well as
resources in company. Purpose of JP Morgan are described below:
Recruitment of best employees: JP Morgan recruit and select trained and competent staff
members so that they can give good results. This helps the company to earn more revenues and
can also enhance the market share.
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Improve management skills: Manager have to provide training and give compensation to
staff members so that workers can give superior results. This helps the organization to deliver
best outcomes (Bloom and Van Reenen, 2011). Hence, company can earn more profits and can
also enhance the market share.
Reduce conflicts: HR manager of JP Morgan give guidance and motivation to workers so
that there are no conflicts in the company. Hence staff members can give best results. Thus, JP
manager can easily enhance the revenues and productivity.
Safe and fair working environment: Managers create various plans and policies so that
firm can create safe and positive working environment for employees. Organization recruits and
selects staff members which belong to different culture and promotes diversity culture in the
company. Hence, they promote diversity in company. Through this workers can discuss their
problems with the managers.
Functions of JP Morgan (Functions of HRM, 2018):
Human resource planning: Manager identifies the current trends and then creates plans
and policies within JP Morgan Firm. Enterprise can also create job description so that company
can select talented staff members. Hence, company can easily select trained staff members. So
workers perform better with their full dedication and zeal.
Training and development: Firm can appoint skilled and educated staff members so that
JP Morgan Firm can provide training by various methods such as competency mapping etc. This
assist the organization to increase their skills and knowledge of staff members. Hence workers
can perform better and give superior outcomes. This assists the enterprise in achieving their
objectives.
Compensation and benefits: HR manager of JP Morgan creates various strategies and
policies related to compensation. Enterprise can give incentives to employees who had perform
well. This helps in motivating other staff members and they also give good results. This leads to
improving the firm's performance.
Motivation: JP Morgan motivates staff members by giving different rewards to workers.
Organization can also organize different seminars so that they can easily encourage and
recognize the staff members (Cox, Arnold and Tomás, 2010). Hence workers can work with full
dedication and zeal. Thus employees can easily attend various customers in effective manner.
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Performance Appraisal: It is a technique and method of motivating employees in
effective manner. Management can give different rewards to workers and can recognize all staff
member's. This directly helps in increasing the motivation level of employees and can enhance
the zeal and enthusiasm of staff members. It can be done by promotion, extra incentives,
recognition etc. This technique helps in improving the performance of staff members and hence
workers can easily accomplish the objectives. This also results in increasing the satisfaction level
of staff members. Hence workers give superior results and thus company can earn more revenues
and can enhance the market share.
Hard and soft model: There are different forms that are found in human resource
management (Caligiuri, 2014). It is described below:
Hard model: This is the model helps in evaluating the potential aspects in terms of
managing the activities and management with passive resources to be used. HR planning is the
crucial element which helps in evaluating the structure of organization by recruiting the
aggressive approach.
Soft model: This is the model which put focus on performance of individuals and
management related to places and self direction, trust, co-operation and commitment, proper
behaviour of staff members. This method mainly reduces the workload and pressure of work in
the company.
M.1 Evaluate different functions of HRM
Functions of HRM assist JP Morgan in making changes in the company according to
objectives. HR manager creates strategies to recruit and select trained workers. So enterprise can
perform tasks in an effective and efficient manner. Training and development seminars are
organized so that they can give training to employees. This assists company to motivate workers
and this results in increasing enthusiasm of workers. This helps the company to achieve their
goals. Hence, business can earn more profits and can also enhance the market share. So
enterprise can expand their operations and activities. So organization can directly enhance their
reputation.
P.2 Strengths and weakness of different approaches to recruitment and selection
Human resource management has to apply different approaches in process of recruitment
and selection so that they can select talented and educated staff members. This helps the
organization to select skilled workers and make them work with full dedication and passion by
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employing them on certain interest of work profile. Enrolment is the method in which there is
short posting and then company pick suitable and appropriate applicant. JP Morgan is main
private budgetary foundation to give work openings in London. It is transforming innovation
business in Scotland. It requires careful consideration of manager to evaluate all plans and
policies related to selection and recruitment. So, enterprise can accomplish objectives in
minimum time.
Internal Hiring procedure
It is the process through which JP Morgan can select applicant from within the company
(Conesa-Zamora, and et. al., 2011). There are different of internal recruitment such as
promotion, transfer and apprenticeship. Various sources are described below:Promotion means
shifting employees to higher position in business. It assist staff members to increase the
enthusiasm and zeal (Daley, 2012). So, workers can work with full dedication and zeal. Transfer
is the process in which workers shift from one organization to another at same post. Hence
enterprise also learn about the lifestyle of another organisation.
 Apprenticeship is the method in which employees are given training and hence they can
give superior outcomes. It is the best process to increase the skills of workers.
Strengths:
 Increase the motivation level: It helps in increasing the motivation level of workers so
that they can give good results.
Weakness:
 Dissatisfaction: It helps in creating dissatisfaction among other staff members as some
employees are promoted to higher level.
External recruitment:
It is the process through which company select staff members from outside source and
they do not select workers from the company. It includes advertisement, campus recruitment etc.
Through this enterprise can select new workers and business can bring fresh blood in
organization. It is described below:
Advertisement: It is the method in which enterprise give different advertisement in
newspapers and from online sites. This helps the company to select and recruit talented and
competent staff members.
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Campus recruitment: In this process different colleges recruits and selects applicants.
They conduct interview and select educated and talented clients.
Strengths
Innovative strategies: Organization can create innovative strategies and policies as they
had selected employees from outside company. So business can make changes in their process
and methods.
Weakness
Costly and time consuming: It is a time consuming process and company also incur huge
amount of funds in selecting employees from various colleges (Flamholtz, 2012). Hence
organization cannot perform better.
M.2 Strengths and weakness of different approaches to recruitment and selection
Recruitment and selection approaches have different strengths and weakness. It is
described below:
Internal recruitment:
In this process company selects talented and competent employees from within company
(Fulton, and et. al., 2011).
Strengths:
Increases zeal of workers: Company tries to increase the zeal and enthusiasm of staff
members by promoting them to higher level. So they give best results.
Weakness:
Dissatisfaction: It can create dissatisfaction as only some workers are promoted.
External sources: In this process company selects employees from outside the company.
Strengths:
New and unique strategies: As company selects staff members from outside source then
firm can easily create distinct and new strategies.
Weakness:
Time consuming: It includes huge cost and it is a time consuming process.
M.3 Critically evaluate strengths and weakness of different approaches
According to(Guest, Paauwe and Wright, 2012) There are different strengths and
weakness of various approaches related to selection and recruitment. JP Morgan can motivate
staff members on one hand and dissatisfies other workers in internal source of recruitment.
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While in external source enterprise can easily create new and innovative strategies for all
activities and operations,. At another side lot of time and money is wasted in selecting competent
staff members . So it is a time consuming method.
TASK 2
P.3 Different benefits of HRM practices for employer and employee
There are various HRM practices which is followed by company. It provides many
benefits to employee and employer. So advantages of personnel practices for staff members and
manager in JP Morgan are described below:
Basis Employer Employees
Learning, training and
development practices
Employer can easily organize
various training sessions so
that they can give training to
workers. Through this firm can
easily accomplish the
objectives. With the help of
training, employer can also
enhance the skills and
knowledge of employees.
Hence workers can give good
results. This results in
improving the performance of
staff members and the
enterprise.
HR manager organizes various
training sessions and seminars
so that company can give
training to workers. So staff
members can easily enhance
the skills and knowledge.
Hence they can easily perform
better and can give best
outcomes. This assists
business to achieve their
objectives and to earn more
revenues.
Flexible working options It is crucial that organization
and employees work
independently without any
interference. It results in
increasing the productivity of
staff members and hence they
can perform tasks in effective
Enterprise give different
options to staff members so
that they can select their
timings on basis of their
convenience and suitability.
Hence workers can perform
better and it results in
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manner. Thus employer can
easily accomplish the
objectives. So organization can
enhance market share.
enhancing the productivity
level of firm. So enterprise can
earn more revenues.
Performance management and
monitoring
Various parameters are
decided by employer to
measure and evaluate the
performance. In this manner
on a continuous basis manager
can monitor the work of staff
members and can give advice
to employees. Hence they can
improve their performance.
This assists employer to
achieve the objectives.
Through performance
monitoring company can
easily monitor and evaluate
their performance. Hence they
can easily take steps to
improve their methods and
procedure. This results in
improving the performance of
workers and hence workers
can give good results.
Payment and reward system Employer give different
rewards to employees of they
had achieved their goals. This
develops feeling of
competition among staff
members. This also results in
accomplishing of objectives
of enterprise. Hence employer
can recognize employees and
can enhance level of
productivity of business.
Through this organization can
earn more revenues and can
enhance the market share.
Employer can give different
rewards to different
employees. Organization can
recognize workers by giving
different rewards to staff
members. Hence they can
perform activities in effective
and efficient manner. This
results in improving the
performance of employer and
enterprise can earn more
revenues.
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M.3 Different methods used in HRM practices
Different methods are used by company so that they can easily recruit and select
competent staff members (Knowles, Holton and Swanson, 2014). JP Morgan selects educated
and trained staff members so that they can earn more profits. This helps the organization to
enhance the market share. In internal recruitment they can increase the motivation level of
workers and in external recruitment, employer can create innovative ideas in company.
P.4 Evaluate effectiveness of different HRM practices in raising revenues and productivity
JP Morgan has to apply various HRM practices in firm. This is done so that they can
increase the revenues and productivity of company. Effectiveness of HRM practices in raising
revenues and productivity by JP Morgan are described below:
Training and development: In this step company can easily enhance the revenues by
giving proper training to staff members. JP Morgan creates different strategies so that they can
enhance the skills and knowledge of staff members (Lengnick-Hall, Beck, and Lengnick-Hall,
2011). It results in improving the performance of staff members and they give superior results.
Hence organization can enhance market share. For example JP Morgan give online training to
staff members regarding the use of various different software's of computer. Through this
employees can learn about various methods and different software's in computer. So employees
can easily perform better and can record all transactions in computer. This results in improving
the performance of staff members. Hence they can give best outcomes. So business can earn
more revenues and can expand their operations.
Better working condition's: This is the important factor for company to enhance
productivity. Employees are given different options so that they can select timings according to
their choices. Hence worker's can perform better. For example Staff members are given different
options so that they can select day or night time. Male staff members select night time as they
can perform activity in day shift and generally women select day shift as they feel comfortable in
working in day time. This results in increasing the enthusiasm and zeal of staff member. It helps
in improving the performance of workers and this results in increasing the productivity of
enterprise. It results in increasing the revenues of company. Hence they can easily increase the
market share. So they can enhance their reputation in market.
Reward system: HR manager of JP Morgan give different rewards to staff members as
they had performed well. This results in improving the performance of staff members and
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company. For example firm can give different rewards to workers if they had accomplished their
goals. This directly develops sense of competition and other staff members also perform well.
Manager organizes a programme in which staff members are recognized in front of all personas.
This leads to increasing of zeal and enthusiasm of staff members. So it directly helps in
improving the performance of workers and they can give superior workers. So firm can increase
their profits and can enhance the productivity. Hence enterprise can earn more revenues and can
also enhance market share. So company can expand their operations and tasks.
D.2 Critically evaluate HRM practices and application in organization
HRM practices are very important for every company. According to.... company creates
various strategies and policies so that staff members can perform better. Employees are receive
training and hence they can enhance their skills. (Manroop, Singh and Ezzedeen, 2014). Staff
members can choose their timings according to their choice. Staff members receive adequate
rewards so that they can achieve their objectives. This helps the company to perform better and
they can earn more revenues and enhance the productivity. So enterprise can expand the
operations (Pereira and Anderson, 2012).
TASK 3
P.5 Importance of employee relations in influencing HRM decision making
Employee relations are important in every company. It also affects the decision taken by
personnel department. Importance if employee relations that influence decisions of HRM in JP
Morgan are:
Solve all issues: HR manager solve all problems and issues of staff members so they can
improve their performance. This also help the company to earn more revenues. HR can take
important decisions. For example manager solve problems related to training and development of
staff members. They organize training sessions and hence give training to staff members. Hence
they can easily improve their performance. They receive training related to MS excel as they face
many problems relating to recording of data about various users. Hence they can store the data
and information about various users. The data is kept safe and no other employee can share their
data with each other. Hence HR can take various decisions such as recruitment and selection,
providing compensation to staff members. They can feasibly take decision to motivate workers.
This results in improving the performance of workers. Hence they can earn more revenues and
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they can also enhance the market share. This assists enterprise to expand their activities and
operations.
Training and development: Company can easily give training by organizing various training
sessions and seminars. This helps them in giving training to staff members. For example
employees are given training to staff members regarding learning of methods to attend various
users. This training is given to existing as well as new employees. Through this they can easily
perform better and can satisfy the users. Employees can learn different methods of
communicating with customers. They also learn about the various methods and process to
behave with users. This directly results in increasing the satisfaction level of staff members. So
they can give reference to other staff members and to their friends (Vo and Stanton, 2011). This
helps in capturing more customers. Hence they can easily earn more revenues and company can
also enhance the market share. This also help the organization to increase their productivity and
they can easily earn more revenues and firm can also expand their operations. Hence enterprise
can enhance their reputation in front of all users and in market. Hence HR can take various
decisions related to selection and recruitment, training and compensation to staff members
(Vörösmarty, and et. al., 2010).
 Team work: If there are good relations between all staff members then there is creation of
efficient team. For example JP Morgan can create good team with competent and trained
employees. Hence company can achieve the objectives. If employees properly interact
with each other then it results in maintaining of good relationship among them. Thus HR
can treat various decisions related to recruitment and selection. Organization can also
take decision related to compensation provided to staff members. They can also provide
compensation and can maintain coordination in the enterprise. Hence peaceful and
positive environment is created. They can promote the diversity culture in enterprise. So
organization can easily earn more revenues and can also enhance the market share. This
assists enterprise to expand the operations in company. Hence organization can maintain
positive image in minds of all people and in industry.
M.4 Key aspects of employee relationship management
There are different aspects of employee relations management. It includes solving the
problems of workers and training and development to staff members. It also includes creating of
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