Human Resource Management Report: JP Morgan's HRM in a Changing World

This report provides a comprehensive overview of human resource management (HRM), with a specific focus on the application of HRM principles within the context of JP Morgan. The report begins with an introduction to the core functions of HRM, including recruitment, selection, training, and performance appraisal. It then delves into the different approaches to recruitment and selection, evaluating their strengths and weaknesses, and highlighting the importance of both internal and external recruitment strategies. The report further explores the benefits of various HRM practices for both employers and employees, emphasizing the impact of HRM on career growth, workplace environment, and employee motivation. Additionally, it analyzes the importance of employee relations in influencing HRM decision-making, and examines how HRM decisions are made within a company like JP Morgan, particularly in light of external factors such as Brexit. Finally, the report provides practical examples of HRM practices within a work-related context, drawing from the case of JP Morgan, and concludes by summarizing the key findings and implications of effective HRM.

Human resource
management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
a) Purpose and function of HRM ...............................................................................................1
b) Different approaches to recruitment and selection.................................................................3
TASK 2............................................................................................................................................5
c) Benefits of different HRM practices for both employer and employee..................................5
d) Evaluate the effectiveness of different HRM practices..........................................................7
TASK 3............................................................................................................................................8
e) Analyse the importance of employee relation which influencing HRM decision making.....8
f) Impact upon HRM decision- making......................................................................................9
TASK 4..........................................................................................................................................11
g) Application of HRM practices in work related context using specific examples.................11
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Human resource management plays crucial role in every business organisation. It is used
to depict management and development of employees into a firm. Every latest technology should
be operated by staff member then only it will provide desire benefits to organisation. The human
resource management focuses on maximizing employees performance by adopting various
strategies. This helps in different function that are performed by HR department such as
recruitments, training, selection, performance appraisal, rewarding employees for their
performance and many more. It is the main reason for most of an organisation that can be large
or small business aspect for efficient, productive, assiduous manpower and intelligence that can
accelerate the progress of a business firm to keep its dignity. Therefore, humans are considered
as greatest assets for any business enterprise. Also, it assist to examine different HR processes
such as managing, motivating, developing employees benefits and so on.
This project includes, a case scenario of 'JP Morgan' company, with restructuring of
department due to an effect of Brexit. It is a mercantile and investment banking organization that
was established nearly in 1871. This also includes purpose and function of HRM, effectiveness
related to different approaches to recruitment and selection. Also, bring highlights on benefits of
different HRM practices and various other aspects of human resource management.
TASK 1
a) Purpose and function of HRM
Human resource management is a systematic approach used within an organization that
focuses on management, recruitment and provides guidance, direction to the people who work
into business enterprise. Human resource management requires skills, knowledge, training, legal
and management advice to protect JP Morgan company from any illegal practices. It helps in
generating culture of an enterprise to ensure proper building up of teams, provides facilities that
are necessary for every organization and motivate employees empowerment (Albrech, 2011).
This assist in placing right person on a right job position, and deals with employees
compensation, hiring, safety, wellness, communication, development, grievances, relations,
payroll etc.
Strategic human resource management refers to HR which co-ordinate and bring
consistency in overall business goals in order to improve their existing performance. This is a
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multi- dimensional concept going well beyond traditional competitive strategy. It generally
focuses on importance of people in a business firm that result into positive outcome of a business
enterprise. Strategic human resource management is considered as pro- active management of
people. This requires thinking ahead and planning ways for company's betterment as well as for
an individual. For example by using strategic approaches such as resources based strategy, high
performance management, commitment and involvement in JP Morgan can increase their overall
performance of business firm.
The different approaches of human resource management are describe in below as:
Hard human resource management is a practical approach which deals in staff
management as they see them as a resource that needs to control to achieve highest profit and
competitive advantage. The main aim of hard human resource management is on task that
needed to be done, cost control and accomplishing business objectives (Armstrong and Taylor,
2014). For instance, as an HR assistance in ABC Pvt. Ltd., the employees are treated as an
organization resource to a business that provides them to communicate at minimum level from
top to bottom management. Also, focuses on making judgement rather then taking suggestions
from their employees.
Soft human resource management is developmental approach taking human side which
entails trust, skill development for unions, treats employees as an asset to a business firm and
also focuses on their needs and wants of workers. In case of this management, employees are
also get involved at a time of decision making to share there perspective as well. For example, In
PQR Pvt. Ltd., the employees are treated as a most important resource of a business enterprise
and also as a source of competitive advantage. Main focus of human resource manager is to
concentrate on the needs of employees such as their roles, rewards, motivation and so on.
Communication is also strong and regular two way communication that helps to resolve issues
by employees themselves.
Global Context
In a modern business context, human resource management is a method of obtaining,
assigning and effectively making the use of human resource in macro business enterprise
(Nehles, Riemsdijk and Looise, 2013). It is comparatively effortless in MNC's while performing
their business to an extent. This involves practices, theories that helps in managing diversity,
ethics, corporate social responsibilities, knowledge management, relationship with working and
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non- working clients that increases the productivity and many more. This manages human
resource effectively by facilitates their improving working conditions. Effective human resource
management plays vital contribution through developing the nation (Bratton and Gold, 2017).
This improves nation's financial, physical and natural resources which are capable to manage the
manpower. Human resource managers are featured with great diversity of a nation and world
wide concern.
b) Different approaches to recruitment and selection
Recruitment is a process of screening and selecting an eligible people for a job into an
organization. This helps in determining a better option for an HR assistant while selecting an
appropriate candidate for a desired job position. It includes formulation of obligations of an
individual and task assigned to them. Through recruiting a desired candidate, it is considered as a
purpose of JP Morgan company. The strength and weaknesses of recruitment process are
mentioned in below as:
Strength Weaknesses
 By using a recruitment process,
accurate view of candidates skills are
measured by recruiter.
 While adopting this method, employees
performance improves at a time of
promotions.
 At a time of recruiting process, there is
limited number of candidate pool.
 This method provide dissatisfaction to
failed candidates.
Selection is a systematic process that includes choosing only those people who are
eligible to fill a current or vacant job position (Brewster and Hegewisch, 2017). Generally
managers and supervisor are responsible for hiring individual, which goes through various levels
of selection process. This approach provide guidance to JP Morgan company to choose correct
person for a desired vacant post. The strength and weaknesses of selection process under as:
Strength Weaknesses
 This method helps in selecting a
suitable candidates while using
different selection procedures.
 This will bring a negative impact such
as demotivation on those who are not
able to get selected.
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 It will assist in to hiring new people
through a necessary criteria which is
required by a business firm.
 This process is costly as it requires
high profile skilled experts for selecting
suitable candidates.
There are numerous types of selection and hiring techniques and methods that can be
employed by an organisation in regard of achieving business objectives. Here are discussed some
of those:
Internal recruitment
Internal recruitment is a process that are readily available to an organization. This
includes internal promotions, transfers, employee references. In other words, seeking of an
individual for job position who are currently employed into an existing firm. It saves time,
money as well as efforts (Briscoe, Tarique and Schuler, 2012). This increases employees
productivity and motivate them to enhance their performance.
External Recruitment
External recruitment means hiring people from outside the organization. This includes
employment factory gate, advertisement, employment agencies, recommendations and many
more. Therefore, firm analyse vacant position to use different methods to fulfil the requirement.
By adopting this method, firm can bring fresh ideas, innovation, creativity through hiring from
outside JP Morgan company.
On the basis Advantages Disadvantages
Internal recruitment  This method of
recruitment is more
effective as they do
hiring inside an
organisation.
 While using this
method, employees
take initiative while
achieving an objectives
of a business firm.
 In case of this,
company is hiring from
existing employees.
Hence, they have
limited choice as they
are hiring from rest of
an organization.
 In this, it will increase
conflict among peer
and colleagues which
can directly impact on
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their current
performance.
External recruitment 1. By using this type of
recruitment method, JP
Morgan can get latest
and fresh ideas which
can help in to get
success into
competitive world.
2. This method of
recruitment improves
the current position
into competitive
market. As a result
increase the overall
performance of a
company.
3. Whereas, it is a time
consuming and costly
method as they have to
advertise, into different
newspapers, do
promotion which
requires huge amount
of investment.
4. Since, a business
enterprise is recruiting
new people but they are
not sure about them if
they continue for
longer period. This
may effect company
liability.
From the above discussion, it has been concluded that human resource management is an
essential feature which is used to manage the organization environment. It also helps in
enhancement of working conditions as well as increase the productivity of JP Morgan company.
Therefore, respective organization should adopt external recruitment techniques which helps
them in bringing up latest and fresh ideas related to a firm's objectives (Budhwar and Debrah,
2013). This bring efficiency among employees and increase their existing performance by using
different strategies adopted by HR of a respective business firm.
TASK 2
c) Benefits of different HRM practices for both employer and employee
The human resource management plays a crucial role as it fills a gap between the
objectives and individual performance. Human resource management has certain roles and duties
that are necessary to conduct more effective and effectively on daily operations. It includes
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recruitment, selection, training and managing employees of JP Morgan company. Human
resource management practices are beneficial for both employees and employer, these are briefly
describe in below as:
Benefits of employees
 Career growth: Under this part, human resource manager influence their employees by
rewarding them through bonus, incentives, offering trip and appreciate their work. This
helps employees to focus towards their goals and enhancement of work. By using
performance appraisal employees can bring efficiency in their work as a result, it will
increase existing performance. Also, focus on workers career and succession planning
which help them in their career growth (Cascio, 2018). This bring efficiency through the
usage of human resource management practices and strategies. It include various
practises such as vocational training, specialization, optimum utilization of resources,
bring stability in employees work and so on.
 Healthy working station: By providing healthy working conditions to their employees,
they will do their work effectively. This can be done by rendering them proper working
conditions, healthy environment, safety and welfare towards employees assist them to
enhance their existing environment. This can be achieved through policies and
procedures that can protect from risk of certain activities. Also, bring highlights on
adapting organisational changes which are beneficial for employees as well as an
organization. Moreover, it reduces employees retention, absenteeism and labour turnover
and bring job security towards employees by providing essential necessities to complete
their task on target. Motivation: This plays a crucial role regarding benefits of an employee. By motivating
employees it provide support to them while performing their own task through which it
improves their existing performance and bring enhancement in their working quality.
This will effect to the overall productivity of a business organisation as well as bring
efficiency in their work (Daley, 2012). Using motivation can bring out individual hidden
talent which help them in receiving the reward on the basis of performance.
Benefits of employers
 Stronger workforce: According to this, if the manpower is strong enough the employer
will able to take care of there own firm. This can be done through providing training,
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attending workshops, seminars, meeting and so on. It will enhance their working
condition which improves existing performance of a business firm. Without human
resource JP Morgan company will not able to accomplish their goals, as it is a main
source for a firm to increase the efficiency and bring effective methods by applying
various strategies and practices at a time of managing the firm (Guest, 2011). Also, by
adopting policies and procedure will be ensure for their enhancement in working quality.
 Reduction in conflicting situations: Being an effective employer, it will reduce the
conflicts among existing business firm. This assist in increment of working conditions as
well as includes effective coordination and cooperation within a business enterprise.
Also, improves the employees relations as well as reduces the role ambiguity into
workplace.
d) Evaluate the effectiveness of different HRM practices
There are various ways of human resource management practices while recruiting new workers
also bring a positive outcome in making an effective judgement. By improving the existing
performance of a business enterprise to enhance the overall productivity and increase the
profitability of JP Morgan. It includes the following aspects, these are describe in detail as:
 Learning, development and training practices: As human resource assistant of JP
Morgan it is necessary to develop the learning skills and increase the adaptability while
using training session that helps in improving existing performance of a business firm.
For maintaining an effective performance it is essential for respective company to adopt
the above practices that increases the productivity of business organization.
 Payment and reward management: To become an effective human resource
management practitioner, it is eminent to focus on worker payment and also on their
reward which can be gain by achieving business goal. This increases the working
efficiency also enhancement for better performance (Hendry, 2012). This also bring an
effective measure while adopting this type of reward strategy that helps in to motivate
employees by using these approaches.
 Flexibility in work: Under this section, it is essential to provide flexibility to their
workers which help in to fulfil the commitment of personal and professional. There are
some females who do work to support their families and children also, bring effective
result into a workplace.
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 Employees performance management and their evaluation: This section is used to
analyse, review and evaluate the performance of existing personnel members on daily
basis. It can be done by using actions and activities which help in to accomplish
objectives of a respective business firm. This will render services to take participate in
training, learning, vocational education to improve their existing skills to obtain the
wanted results (Huselid and Becker, 2011). JP Morgan can use various effective
approaches and processes to increase the overall productivity of employees that attains
the goals of better profits which helps in to increase the growth of business firm.
TASK 3
e) Analyse the importance of employee relation which influencing HRM decision making
It is necessary for employees is to make strong relation with their managers and
subordinates which is the major key success for an organisation growth and development. In an
organisation, manager need to achieve its pre-planned goals and targets for increasing the level
of performance through which they can succeed among rivals. Along with this, it is fully depend
on making strong relation with their employees and effective manpower that help in enhancing
working productiveness for reaching with higher growth and success level. Within JP Morgan
firm, employee relation will play an important role in developing appropriate culture and
workforce because they are assist in achieving set goals and objectives in better manner. JP
Morgan is the international investment bank and financial services company which is situated in
New York and they are always performing work for satisfying their clients needs and
requirements effectively.
JP Morgan HR manager conducting training and development program which help them
in increasing their employees abilities or skills so that they are improving their performance and
increasing motivation level (Jackson, Schuler and Jiang, 2014). Some of the significance of
employees relation which are described as follows: Discouraging disputes among staff members – The company require to make effective
or good relation among JP Morgan employees which reduces the possibilities of disputes
and conflicts among their employees. They need to develop trust from each other which
help in increasing performance and fulfil all needs and requirements in better manner.
They treated their team members as colleagues not as a rivals at work place. According to
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this outcome, the productivity increasing which assist HRM for making effective decision
for an organisation. Setting challenges - An organisation team leader are developing specific challenges for
their employees so that they will show their interest by facing them. Along with this, it
will enhancing the participation level of company staff members in different activities in
order to gain desired goals and targets. Reward management – Company managers are providing rewards to those employees
who are doing working in the JP Morgan which includes compensation, additional
holidays, support, certificates, etc. This will help in gaining attention of personnels for
doing appropriate work as per desired results or outcome.
 Loyalty of employee – In JP Morgan, employees require to develop sound and pleasant
environment which assist in creating loyal staff member. They feel encouraged for
performing each task which allotted to them by an organisation in effective manner
(Marler and Fisher, 2013). They are doing more efforts which lead towards increasing
productivity and returns to the firm. Thus, the employees rate turnover is very limited
within an enterprise which assist in reducing the value of recruitment of new worker in
given time period.
With the help of above describe methods, trade unions help in enhancing employees
engagement and developing great relation with manpower. In this, the primary goal of trade
union is considered as negotiator in the company. In addition to this, people exist in the
particular trade union who are stand for performing work and political interest of some
personnels does not receiving their rights. Therefore, it can be determined that importance of
whole manpower has been present by other subordinate (Nickson, 2013). It is useful for entire
organisation, it will help in making relationship with their employees and other employees higher
their strength which help them in increasing productivity of the firm.
f) Impact upon HRM decision- making
In the European country especially in UK, government regulates various laws and orders
on the basis of an enterprise nature as well as their behaviour. All the laws and orders are
requisite to implement by the management of JP Morgan company while managing their
operational, financial as well as investment activities of a respective nation. As JP Morgan is a
financial institution which has different ventures in various country and also work in
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