Human Resource Management Report: HRM Practices and Strategy

This report provides a comprehensive overview of Human Resource Management (HRM) principles, focusing on resourcing, recruitment, selection, and employee relations within the context of JP Morgan. It begins by defining the purpose and scope of HRM, emphasizing its role in aligning talent and skills with business objectives. The report then delves into the strengths and weaknesses of both internal and external recruitment approaches, as well as different selection methods, critically evaluating their effectiveness. Furthermore, it examines the benefits of various HRM practices for both employers and employees, along with the impact of HRM on organizational profit and productivity. The report also highlights the importance of employee relations in HRM decision-making, exploring key elements of employee legislation and their influence. Finally, it analyzes HRM practices in a work-related context, including a job description of JP Morgan, and concludes with an evaluation of the effectiveness of HRM practices and their strategic application.

HUMAN RESOURCE
MANAGEMENT

Table of Contents
INTRODUCTION..........................................................................................................................1
TASK 1............................................................................................................................................1
P1. The purpose and scope of the human resource management in terms of resourcing an
organisation with talent and skill appropriate to fulfil the business objective ......................1
M1, How HRM function can provide and talent and skill appropriate to fulfil business
objective ................................................................................................................................3
P2. Strength and weakness of different approaches to recruitment and selection..................3
M2. Evaluation of different approaches to recruitment and selection....................................5
M3. Critically evaluate the strength and weakness of the different approaches to recruitment
and selection procedure..........................................................................................................6
TASK 2............................................................................................................................................6
P3. Benefit of different HRM practices with in the firm for both employer and employee's 6
P4. Effectiveness of HRM in raising organisational profit & productivity..........................11
M3 Different methods used in HRM practices.....................................................................12
D2 Evaluation of HRM practices.........................................................................................12
TASK 3..........................................................................................................................................12
P5 Importance of employee relation in influencing HRM decision-making.......................12
P6. Key elements of employee legislation and its impact on HRM decision making..........13
M4. Evaluation of key aspects of employee relation...........................................................14
D3. Evaluate employee relation and the application of HRM practices .............................15
Task 4.............................................................................................................................................15
P7. HRM practices in the work related context ...................................................................15
Job Description of JP Morgan..............................................................................................15
M5 Rational for application of HRM practices....................................................................17
D3 Employee relation and application of HRM practices....................................................17
CONCLUSION..............................................................................................................................17
REFERENCES .............................................................................................................................19

INTRODUCTION
Human resource management refers to that part of management which manage the people
at the work place. The main objective of HRM is to ensure the organisation to accomplish the
organisational goals through the people. This study will present the explanation of scope and
function of human resource management in terms of resourcing the JP Morgan firm with talent
and skill appropriate to fulfil its business objective. JP Morgan is an American international
multinational bank and financial service company which has been headquartered in New York.
This study also determine the strength and weakness of different approaches of recruitment and
selection and also include the selection procedures and their strength and weakness. It is also
analysed the internal and external factor that affect the human resource management decision
making including employment legislation. The study lay emphasis on how the HRM practices
apply in a work related context. This study also evaluate the effectiveness of different type of
HRM practices in terms raising the organisational profit and productivity (Albrecht and et.al,
2015).
TASK 1
P1. The purpose and scope of the human resource management in terms of resourcing an
organisation with talent and skill appropriate to fulfil the business objective
Human resource management refers to a strategic approach which ensured the effective
management of the people in the organisation, so that they provide competitive advantage to
organisation and helps in attaining goals and objectives (Amarakoon, Weerawardena and
Verreynne, 2018).
Purpose of human resource management
The purpose of HRM is ensured that the organisation obtains skilled, capable and
motivated employees that it needs. Human resource management improve organisational
performance by providing employees with broad responsibilities so that they can use their skill
and knowledge effectively. The main objective of human resource management is to ensure the
availability of right people at right position to accomplish the organisational goal effectively. For
effective workforce planning, HRM provides the talented and motivated employees to firm who
contributing their best efforts towards the task. Resourcing an organisation means providing the
capable and effective work force for accomplishing organisational objective

efficiently(Armstrong, Landers and Collmus, 2016). This can be effectively done through
optimum utilisation of all the available resources of firm which is provided by the human
resource management.

Functions of human resource management
The function of Human Resource Management which are applicable in the effective work force
planning and resourcing in JP Morgan firm to achieve the business goal are as follows-
Planning is the first and most important function of human resource management which
determine the number and type of employees needed to accomplish the JP Morgan firm's goal
effectively (Human resource management, 2017). Planning also includes the training which is an
important factor for resourcing the JP Morgan firm with appropriate talent and skill because it
provides the training to those employees who require to developing their skills and knowledge
for attaining business objective (Bratton and Gold, 2017).
The second function is the Recruitment, which is core function of human resource
management. It helps in selecting the appropriate personnel according to the requirement of
vacant position in the organisation. Through this function JP Morgan firm can find and hire
employee with high skill and knowledge. (Gutierrez-Gutierrez, Barrales-Molina and Kaynak,
2018).
The strategic human resource is refers to the approach which determine how the
organisational goal achieve through the people by means of human resource strategies. The aim
of strategic HRM is to generate the capability of organisation by ensuring that firm has the
talented and motivated employees.
Nature of strategic human resource management
Strategic HRM is the process which helps in the attainment of organisational objective
through developing the practices, programs and policies.
In this, the human resource practices used by the line managers as well as employees as a
part of their everyday work (Jesinoski, Miller and Volker, 2016).
Scope of strategic HRM
Strategic HRM ensures that human resource management is integrated with strategy and
strategic requirement of the organisation. It involves designing of corporate strategies and their
implementation in the firm for better productivity. Strategic HRM also help in determining the
model of firm's way of doing business.

Hard human resource management refers to the system of staff management which
achieve the highest profit and competitive advantage through better working of employees which
is done only by controlling the employees. It also manages the people in the way that increase
the value of the JP Morgan firm in terms of planning and resourcing the organisation at the
global level.
Soft HRM considered employees as an important asset of organisation. It emphasises on
the human dimensions of employees through the social relations and attitude towards the
supervision as an element of the increasing the productivity. This approach based on the
encouraging the high level of trust among the organisation in terms of growth and development
of the organisation at global level (Marchington and et.al., 2016).
M1, How HRM function can provide and talent and skill appropriate to fulfil business objective
The function of human resource management provides the talent and skill appropriate to
fulfil the business objective because it includes the planning function which ensure that right
type of people, in the right number at the right place and which work on the continuous basis for
the accomplishment of the JP Morgan firm's objective efficiently.
The recruitment function providing the talent and skill appropriate to fulfil the business
objective by recruiting the suitable personnel according to the employment need in terms of
increasing the productivity of JP Morgan firm(Nankervis and et.al., 2016).
P2. Strength and weakness of different approaches to recruitment and selection.
Recruitment & selection is the process of attracting, short listing and selecting suitable
candidate according to required skill and knowledge of the vacant position in the organisational.
It includes the finding and hiring the best qualified candidate for the opening job in a cost
effective manner in the organisation. It involves the two approaches such as internal and external
approach (Rothenberg, Hull and Tang, 2017).
Internal approach of recruitment refers to the process of selecting the employees from
within the organisation or fulfilling the vacant position through the existing work force of the
firm. It includes various methods such promotion, transfer and internal job posting.
The first strength of the internal recruitment is that it is the cheaper and quicker way to
recruit the employees because JP Morgan firm find out suitable candidate easily from the
existing work force through the internal job posting method. It also eliminates the need of
advertising for the vacant post.

Second strength of the internal recruitment is that the company already know the whole
information about the candidate's in terms their skill, knowledge and capability, due to this
information the JP Morgan firm can determine effectively that recruited employee is fit for the
job or not (Saks and Gruman, 2017).
The weakness of the internal recruitment approach is that no new idea can be introduce
from outside because the candidate will be hired from with in the organisation. It sometimes
creates dissatisfaction among other employees.
The second weakness of internal recruitment is limited choice for selecting candidate.
Might be it is very cheaper and quicker way to recruiting the employees but it left the firm with
limited pool of talent to select the candidate from within JP Morgan firm(Wright, 2018).
External approach of recruitment refers to the process in which the vacant position is
fulfilled by selecting the suitable candidate from the outside of the organisation. This approach
includes the various methods of recruitment such employment agencies, social media and
advertisement.
The first strength of the external recruitment approach is that it includes larger pool of
employees from which the best suitable candidate can be recruited. It provides large number of
employees with high level skills and talent and from which the JP Morgan firm has to selected
the candidate for the achievement of their business objective. External recruitment ensures entry
of skilled and creative people which brings innovation within organisation (Albrecht and et.al,
2015).
The second strength of external recruitment is the availability of new ideas and wide
range of experience from outside world.
Weakness of the external recruitment & selection, it is expensive method due to the
advertisement of vacant post and then conducting the required interviews for selecting the
candidates.
The second weakness of the external recruitment is that it takes more time to fulfil the
vacant post in the organisation.
Selection method includes the overall process which helps to pick the individual from
the available sources of recruitment. Selection process includes the various methods such as
employee selection test, job knowledge test and interviews(Armstrong, Landers and Collmus,
2016).

Interview is most important method of selecting the suitable candidates in JP Morgan
firm. It includes both face to face interview or telephonic interview. Through this interview the
firm can hire the high skilled and capable personnel according to the job position.
The strength of the interview method is that company can gain original and deeper
information from candidates. The interview helps the interviewer to know more about the
candidate personally.
The weakness of interview method is that it is an incomplete process because may be
interview is important tool for selection procedure but it not possible for the interviewer to
identify the every single information about the candidate(Bratton and Gold, 2017). For example
if we want a technical expert and we are interviewing through the written method then how it
will ensure the productivity of the candidate in the firm.
M2. Evaluation of different approaches to recruitment and selection
Internal approach of recruitment is might be cheap and quick way to select the
appropriate candidates but it also has a disadvantage as limited pool of talent available within
company from which the manager of JP Morgan has to select the candidates.
Whereas the external approach of recruitment has the availability of the high experience
and capable employees in the large numbers but it is too much expensive process of selecting the
suitable professionals in the JP Morgan firm (Jesinoski, Miller and Volker, 2016).
Selection process includes interview approach, in which interviewer gain the original
information from the prospective candidate. It is useful in determining the communication skill
of job applicant which is essential for performing job.
Weakness of interview, sometimes negative information may be given by the candidate
during the interview.
M3. Critically evaluate the strength and weakness of the different approaches to recruitment and
selection procedure
If the JP Morgan firm recruit the employee from with in the organisation known as
internal recruitment. It has the advantage in terms of the less time consuming and cheaper way to
select the appropriate candidate according to the vacant position and also the firm know very
well about the candidate due the existing employee in the organisation.

And if the JP Morgan firm select the candidate from the outside world of the
organisation, it has the strength in terms of getting the high experienced and more suitable
candidate for the vacant position(Marchington and et.al., 2016).
TASK 2
P3. Benefit of different HRM practices with in the firm for both employer and employee's

Benefits of HRM Practices Benefits For Employees Benefits For Employers
Training  By providing training to
employees can increase
their productivity which
ensure the success of
project which in turn
improve the company
performance (Nankervis
and et.al., 2016).
 Through getting
training, employees can
become able to work
with higher productivity
and they get more career
development
opportunities.
 By attending training
sessions, Employees of
JP Morgan can get to
know and learn new
things which they can
implement during their
work.
 By training, employees
can improve their
performance and
develop their
personality in many
more way. By training,
JP Morgan Employees'
job satisfaction level
 By providing training
company can get
professional workers
easy which lead to
low mistakes and
high productivity.
 By training, it
becomes easy for
them to work with
employees who
accept changes
readily which is
benefit for
organization to cope-
up with changing
environment.
 By giving training,
Employers of JP
Morgan can be able
to use their human
resources capital well
and can raise
productivity of
company.
 By conducting
training, employees
will be able to make
economical use of
materials which lead
to low wastages and

goes up and they
become happy which
lead to better outcomes
(Saks and Gruman,
2017).
less
expenditure(Rothenb
erg, Hull and Tang,
2017).
9

Reward  By reward, employees
of Canary Wharf do
work better with an
intent to get more
reward (monetary or
non-monetary).
 Employees of Canary
Wharf get motivated by
reward to do work better
in future which is good
for both.
 By reward, employees
of Canary Wharf get
recognition in the
organization which
motivate them to do
quality work (Albrecht
and et.al, 2015).
.
 By reward, JP
Morgan's employers
relationship with
employees become
friendly which create
understanding
between them which
is good for
organisation
(Wright, 2018).
 If employees get
rewards, credit goes
to employers which
make them more
satisfied and work
more hard to move
the Canary Wharf to
the height (Bratton
and Gold, 2017).
Performance Management By performance management,
employees of JP Morgan feel
that their work are important for
employer and organization so
they do more work hard and
give better performance.By
performance management,
Canary Wharf employees can
get chance for
promotion/demotion, which is
 By performance
management,
employer of JP
Morgan get to know
about the problems
facing by their
employees so they
enable to solve it
which lead to fewer
mistakes and achieve