Human Resource Management: Planning and Strategy Report

This report provides a comprehensive overview of Human Resource Management (HRM), focusing on human resource planning, job descriptions, job specifications, and compensation strategies. It begins by defining HRM and its role in strategically managing an organization's human capital, emphasizing workforce planning and its continuous nature. The report details the process of human resource planning, including assessing workforce requirements, creating job requisitions, and developing job descriptions and person specifications. It includes an example of a job description and job specification for a Senior Accountant. Furthermore, the report discusses the importance of planning and setting remuneration, benefits, and compensation packages to attract and retain talented employees, and to improve employee engagement. The conclusion highlights the crucial role of HRM in delivering suitable candidates for achieving organizational goals, ultimately leading to higher productivity and profitability. The report also includes references to relevant books, journals, and online resources.

HUMAN RESOURCE
MANAGEMENT

Table of Contents
Human resource planning............................................................................................................1
REFERENCES................................................................................................................................5

Human resource planning
Human resource management is defined as a systematic procedure of recruiting and
retaining employees with the help of different tools and techniques. In other words, it means
strategically managing the human capital of an organization. It involves everything related to
employees from workforce planning to workforce termination (Noe and et.al., 2017).
Human resource planning is a continuous procedure of organized planning through which
the current and future workforce requirements of a business organization is identified and
evaluated for the purpose of meeting organizational objectives. This process includes crucial
activity of balancing the supply and demand of human capital for optimally and rationally
utilization of resources. Recruitment process, creating a pool of talented potential candidates,
anticipation demand for future etc (Human Resource Planning (HRP), 2019).
One of the important duty of Human resource department of an organization is to assess
the requirement of people within the business. This process is performed by the department with
the help of other business departments who actually needs additional staff for meeting business
goals. Departmental managers or supervisors who require more staff, replacement of staff due to
the reasons of resignation or termination demands the same from the HR department by the way
of job requisition. In accordance with such requisitions imitated by departmental managers, HR
team starts their recruitment process and searches for the most appropriate and suitable
candidates for the company (De Bruecker and et.al., 2015).
A job requisition is a piece of paper which is basically used for requesting the hiring of
people. This document involves the reasons why such hiring is required and determination of
budget available for a specific job role. This job requisition plays a great role in HR's workforce
planning as the hiring manager exactly gets the specifications which it needs to search in the
market.
After a thorough evaluation of requirements and resources needed for making new hiring,
the HR team starts with their job of writing a job description and person specification. A job
description is a narrative statement which lays out the general tasks, duties, responsibilities
which a person is required to carry out for a particular position in a business organization. A job
description includes department which a person has to report, specifications, qualifications,
knowledge required, various skills needed, working conditions, a salary range (Zhang and et.al.,
2015).
1

HR team of a company uses this tool for communicating the job vacancies with the
candidates by different internal and external methods such as posting of job description on online
job portals, newspaper, campus recruitment, notice board within the business premises etc. It is
the duty of HR manager of a company to write a job description in such a way that attracts the
attention of talented people. This is necessary because it is the first communication which takes
between recruiter and candidates based upon which potential candidates makes applications for
the proposed job. Further, a person specification refers to the statement
which lays out the specifications which a candidate should posses for applying for a particular
job role in a company. It includes skills, personal qualities, experience, education etc., which is
mandatory for a candidate for applying for a specific job role. Job specification is derived from
job description and it becomes the grounds for selecting people during the stages of group
discussions and personal interviews (Morgeson, Brannick and Levine, 2019). Below are the
examples of a job description and job specification for the job role of an Senior Accountant:
Job Description- Senior Accountant
ABC Company
Job Title: Senior accountant
Department: Finance & Accounts
Reporting:Accounting manager
Salary range: £20000-£25000 per anum
Position objectives:
 Delivering financial reporting and statutory requirements of ABC Company
 Ensuring timely and accurate input of financial data in company's integrated
accounting system.
 Managing monthly financial and board reporting
Key Responsibilities & Duties:
 Collating, emailing invoices and statements
 Preparation of monthly financial statements
 Assisting with payroll
 Work on various project as needed
 Able to work on integrated management information system
2

 Reconciling balance sheet accounts monthly
Job specification
(Senior accountant)
Job qualification:
 Master's degree in Finance from a recognized University.
 Must have 65% throughout the academics.
 Must have sound technological knowledge for operating on SAP.
 Sound knowledge of advanced accounting
 Proficient in MS-Excel and numeracy
Soft skills:
 Great communication skills – writing and verbal skills
 Ability of adapting to business changes
 Team work skills
 Time management skills
 Ability of forming interpersonal relationships within premises
 Ability of taking more challenging roles in the future.
Planning and setting the remuneration, benefits, emoluments and salary is an crucial
function of Human resource management. It is the duty of HR manager of a company to
appropriate plan and fix the remuneration of a person by going through detailed analysis of
market situations regarding what are the standards pay structure for similar kinds of job in the
industry, availability of resources with the organization, the legislation regarding the minimum
salaries and wages prevailing in the country (Specification, 2016). Appropriate compensation
policy is required which includes commission, rewards, bonuses, other perks for attracting the
talented people within the company. Also, for motivating employees of a company, it is HR's
duty to form incentives and perks' policy to improve the job satisfaction of workforce. Such
policy is required for the purpose of retaining the experienced employees for longer duration.
Further, suitable salary packages encourages and enhances the employee engagement factor of
an organization. Employee benefit and compensation program shall be developed by the HR
manager in such a manner that aptly assigns the needs of individuals along with the requirements
3

of a business organization. Both must be aligned in such a manner that results into
accomplishment of business's long term goals and objectives (Aguenza and Som, 2018.).
At last, it can be concluded that HR plays a crucial role in an organization by delivering
the most suitable and deserving candidates to the company who in turn works for attaining
organizational goals. Putting right people at right job role is the one of the objective of HRM, the
ultimately effect of which is reflected in the higher productivity and profitability of the company.
4

REFERENCES
Books and Journals
Aguenza, B. B. and Som, A. P. M., 2018. Motivational factors of employee retention and
engagement in organizations. IJAME.
De Bruecker and et.al., 2015. Workforce planning incorporating skills: State of the
art. European Journal of Operational Research, 243(1), pp.1-16.
Morgeson, F. P., Brannick, M. T. and Levine, E. L., 2019. Job and work analysis: Methods,
research, and applications for human resource management. Sage Publications.
Noe, R.A and et.al., 2017. Human resource management: Gaining a competitive advantage.
New York, NY: McGraw-Hill Education.
Specification, P., 2016. Recruitment Policy & Procedure September 2016. Policy.
Zhang, S and et.al., 2015. Workforce location tracking to model, visualize and analyze
workspace requirements in building information models for construction safety
planning. Automation in Construction, 60, pp.74-86.
Online
Human Resource Planning (HRP).2019. [online]. Available through
<https://www.mbaskool.com/business-concepts/human-resources-hr-terms/3907-human-
resource-planning-hrp.html>
5

6