Human Resource Management Report: LV's HRM Practices Analysis

This report provides a detailed analysis of Human Resource Management (HRM) practices within LV, a major financial services provider. The report begins by defining the purpose and scope of HRM, focusing on functions such as recruitment, selection, training, and employee relations. It then examines LV's recruitment and selection processes, including the advantages and disadvantages of its methods, alongside the creation of a person specification document for a personal assistant role. The report further explores employee development, performance management, and reward systems, with a focus on employee relations and the impact of UK employment legislation on HR decision-making. The analysis covers the importance of employee relations, the role of leadership, and the influence of various laws. The report concludes by summarizing the key findings and emphasizing the significance of effective HRM for organizational success.

Human Resource
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
PART 1 – Purpose and scope of HRM and Recruitment and Selection Practices .........................1
ACTIVITY 1....................................................................................................................................1
Functions and Purpose of Human Resource Management.....................................................1
ACTIVITY 2....................................................................................................................................4
Prepare person specification document..................................................................................4
Selecting candidates for interview..........................................................................................6
Interview questions.................................................................................................................6
PART 2 - Employee development, performance and reward & Factors that impact decision
making process of HR......................................................................................................................7
ACTIVITY 3....................................................................................................................................7
Learning and development opportunities for employees and organisation............................7
Reward and benefits given by LV= to its workers ................................................................8
Importance of Employee relation...........................................................................................9
Importance of employee relation .........................................................................................10
Role of leadership in keeping effective employee relation..................................................11
UK employment legislation..................................................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Human Resource Management (HRM) is a function of management that is concerned
with recruiting, selecting motivating and maintaining employees within an organisation. In
addition, it is the planning, developing, leading and controlling of the procurement, integration,
compensation, maintenance and separation of human resource (HR) to the end that
organisational, social and individual objectives are accomplished (Al-Refaie, 2015). For this
report, LV is the given largest friendly society that is owned and operated by its members in the
open market place. This successful organization came into existence in the year 1843. It provides
numerous financial services to its customers such as, life insurance, insurance, investment
products and pensions. There are 14 offices across United Kingdom who are working day and
night to meet the emerging needs of the customer. This assignment cover, purpose and function
of HRM which are applicable to workforce planning and resourcing an organization.
Recruitment and selection positive and negative aspects are studied to make improvements in the
loop holes. Benefits related to HRM are reviewed in context of both employer and employee.
Importance of employee relation is examined to understand how they impact the decision
making process of HRM. Various laws are determined to measure their influence on decision
making process.
PART 1 – Purpose and scope of HRM and Recruitment and Selection
Practices
ACTIVITY 1
Functions and Purpose of Human Resource Management
HRM is the procedure that manages all activities related to staff member. To attain the set
goals and objectives is the main aim of human resource management. The distinguish purpose
and functions of HRM which LV adopts are illustrated as under:
Functions:
Recruitment and selection: HRM first function is to conduct recruitment and selection
in a company. Screening of CV is considered in recruitment while, selecting right candidate for
the vacant position is the core task of selection (Bratton and Gold, 2017). This HR function is
associated with workforce planning and resourcing because it helps in forecasting, analysing,
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assessing gaps and examine potential talent interventions in order to ensure that firm has right
people is placed in the vacant position. It is important to LV because by this productivity and
profitability ratio raises tremendously in the market.
Training and development: This function is conducted by company in order to uplift
the skills of present employees, performance and many more. In order to gain competitive
advantages against rivalry it is very essential to train and develop their staff members. It is
related with workforce planning and resourcing because it enables top level management to plan
for the capabilities they require in the up-comping years. This is important in LV because
training and development helps the the firm to achieve their set goals and objectives in the
specified time duration.
Managing employee relations: The crucial role played by HRM is to build healthy
relation among employer and employee. Good relation helps the employees to work hard so that
set goals and objectives can be achieved easily. It is another HR function with is directly related
with resourcing and workforce planning because when right candidate is placed in the post
vacant they helps in creating healthy relations with the co-workers. As well as motivate others to
perform better. In LV it is important because by this management is able to compete with the
rivalry prevailing in the market.
Purpose:
Staffing needs: The main purpose of HRM is to hire talented candidate in the working
premises. Here, duties are assigned to the staff members according to their capabilities, abilities
and qualification. By this productive results can be attained in the open market place which is a
positive mark for the business. Additionally, organization's human resource keep eye on the issue
of termination of workers as well as assure that no laws are violated while conducting this
activity.
Benefits: At the time of recruiting and selecting employee benefit scheme is used in
order to place the appropriate applicant for the vacant position. Before making employee benefit
programmes scanning of external environment is done so that maximum benefits can be given to
them. By this employee turn out ratio can be reduced (Brewster and Hegewisch, 2017).
Law compliance: Distinguish laws designed by the governing bodies are acknowledged
by human resource department and make company aware about it. Several laws are prepared by
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the government in order to safeguard the rights of the staff members in the working premises. As
company is ware about the laws any kind of illegal work is not conducted and employees are
assured that they are exploited in any way.
The purpose and functions which are discussed above are essential for LV while planning
and resourcing workforce so that business can be operated easily in the global market. Through
recruitment and selection talented candidate can be hired which will directly or indirectly
upgrade performance of the firm. By training their existing workers best outcomes can be
attained by which they can easily compete with the rivalry present in the global market.
Recruitment:
It is explained as the procedure of placing right candidate in the vacant position. It is cost
effective method as it covers, screening of CV, analysing job requirements, stimulating people to
join the post and many more.
Advantages Disadvantage
 The recruitment process is cost
effective because by this hiring process
become easy.
 Through modern tools and techniques
capable employee can be placed in the
vacant position in short time duration.
 This limit their entry of new idea in the
working premises. Moreover, it make
the work monotonous due to which
more unproductive outcomes are
attained.
 Many time extremely talented
candidate are neglected because they
are less friendly with the computer
Selection :
It is the process of selecting right candidate by examining applicant skills and abilities.
By this suitable candidate is placed in the vacant position (Cascio, 2015). It is very simple
process to conduct.
Advantages Disadvantage
 Shortlist the deserving applicant for the
specified job profile with mandatory
 As huge number of applicant apply for
the post due to which it consume lot f
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skills.
 This motivate the existing workers and
enhances their skills.
time to screen their CV individually.
 Huge finance is required for training
sessions.
LV= select candidates by their own recruitment process. There are four different stages
of LV and shortlisted applicants need to pass this stages in order to be part of the organization.
The strengths and weaknesses of LV recruitment process are illustrated as under:
First step is to research applicant for the vacant position: HR of the firm advertise the
vacant position ads on various social media platforms as well as on their personal websites.
Along with this additional information regarding the vacant position is mentioned. By this
candidates can evaluate themselves weather they are suitable for the vacant position or not.
Second step is to apply online: If the interested candidate has decided that they are
capable enough to work with LV= they apply for the vacant position online. Before submitting
the CV online there re certain set online questions which need to be answered as yes. Then only
candidate can Share their CV and further processing will be done.
Third step is selection process: From the shared CV by applicants candidates are
shortlisted either for telephonic or face to face interview. The HR team ask numerous personal
and profession related questions in order to examine weather they are suitable for the vacant
position or not.
Fourth stage is outcome: In this case, HR team of LV inform the selected candidate that
they are selected or not. All the details are discussed with the chosen nominee and stimulate
them for joining the vacant position as soon as possible.
Strength:
 Eliminate unnecessary candidate by screening their CV. LV HR match the applicants
skills, education and work experience with the job profile.
 By cross checking the CV of the people helps LV to better understand how they can
benefit the firm.
 Suggest employer best idea regarding talent and capabilities of candidates
Weakness:
 Wrong candidate is hired some time because of error in branding or content writing on
websites.
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 Face to face interview is time consuming and lengthy.
ACTIVITY 2
Prepare person specification document
Person Specification is a blue print of experience, attributes, qualifications, skills and
many more which a applicant should possess to perform the job role. It is important to formulate
in an organization because through this management can communicate the traits which was
considered desirable by them in an individual like, earlier work experience, academic and
additional traits required for the job role (Collings and Szamosi, 2018). LV is benefited by
Person Specification in order to ensure all applicant that they are judged on the similar criteria.
On the other hand it render a framework for recruitment and selection process that directly or
indirectly assist in short-listing participant for face to face interview round and for next
selection round. By this employees can be bind for longer time duration in the working premises.
LV is formulating a person Specification document for the job role of Personal Assistant in
order to design a sequence for systematic analysis and review of candidates applied for the
vacant post.
The various benefits of person specification are as follows:
 It helps LV HR team to identify the type of candidates they are looking ahead for the
vacant post.
 Person specification helps the marketing team of LV to frame accurate job
advertisements.
 The another benefits of person specification is that LV HR team is able to evaluate each
and every applicants fairly without discrimintaion.
The person specification for the job role of personal assistant is illustrated as under:
Person specification
Job Title : Personal assistant
Service area: Chief Retirement advices and commercial finance directorate
Grade: A
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Criteria Essential Desirable
Essen tail skills Communication skill
Time management skill
Problem solving skill
Technical skills
Team management skills
Academic Candidate should hold
diploma in management field.
MBA
Knowledge  Capable in handling
emails and incoming
call of the clients.
 Scheduling meting
regularly
 Handling all
arrangements related
to tourism like,
booking tickets, hotels,
rooms and so on.
 Holding good
knowledge of English
and mathematics.
Maintaining good relations
with other staff
Relevant experience From 1.5 - 4 years -
Other attributes Disciplined
Calm nature
-
LV received three applications for the post of personal assistant. Out of three two are
shortlisted for interview which are Job Application 2 and 3
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Selecting candidates for interview
From the pool of applicant only two job applicant are selected which are Job Application
2 and 3. This two applicant has full-filled the job requirements which are required. This two
applicant holds required work experience in two varied firm and has worked in the post of
marketing officer, insurance person, directors and as receptionist also. Moreover, both the
applicant 2 and 3 has worked in the finance department, higher level management as well in
marketing department that has raised their professional skills. Moreover, they are aware about
managing telephonic conversation, e-mails and messages of the client. As they have worked on
higher post they are able to handle power point, Excel and MS word etc. in order to record and
frame daily meeting and future schedules for interview (DeCenzo and Verhulst, 2016).
The reason for not selecting applicant 1 is because of its irrelevant work experience and it
did not match with the requirement of LV. Applicant 1 holds a job fitness trainer that is
completely different from personal assistant job profile. On the other hand the education
qualification was in appropriate. The HR of LV was unable to understand weather the applicant
is illegible for the post or not while examining the academic. Along with this the necessary skills
mandatory for performing the job role was lacking which created a question mark that weather
the selected in LV will be abler to give productive outcome after providing training sessions.
Interview questions
Below are some of the questions which are asked from the selected candidate for the post
of Personal Assistant. The interview questions are stated as under:
Q1) Tell me something about yourself?
Q2) What is qualification?
Q3) Are you aware about the communication jargon used in the business? Tell us few of
them?
Q4) Why did you leave your previous company?
Q5) Tell us some of the computer tools in which are good?
Q6) Why do you think you are suitable for the post of Personal Assistant in LV?
Q7) How much salary you are expecting?
Above mentioned are some of the questions which are asked from interviewer (Hecklau,
and et. al., 2016). This type of questions are put forward to the applicant in order to understand
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the desire and urge to be in this post. However, job related questions are asked understand
weather the nominee is suitable for the vacant position and what he or she expect out of it.
PART 2 - Employee development, performance and reward & Factors that
impact decision making process of HR
ACTIVITY 3
Learning and development opportunities for employees and organisation
HRM within an organisation plays an important role in developing and managing
workforce easily. There are different HR practices that used by company to give proper learning
and development chances to workers so that they can work towards achievement of
organisational goals and objectives. LV= is a largest friendly society that provide different
financial services to the customers including life insurance, pension and investment products etc.
Main purpose of company is to provide learning and development opportunities to its staffs so
that they can develop most competitive workforce (Jabbour and de Sousa Jabbour, 2016). There
are some HR practices related to the learning and development are explained as below:
Training program: This is one of the best practice of HR that is used by company to
train their employees. As it will help workers in improvement of its performance level and also
increase their confidence to deal with any kind of challenge easily. Job Shadowing is a best part
of training schemes which is used by LV= to provide appropriate guidelines to their workforce as
it help them in retention of workers for long time.
Review of performance: It is another practice of HR and in this human resource
department of LV=, review the employees performance on regular basis to track their initiatives
and assist them in improving their current performance level. In this HR manager plays an
effective role in providing appropriate guidance to workforce over its weaknesses. As it will
support workers by improving their performance and productivity level at workplace.
Employee benefits: This is also consider effective practice of human resource that is
applied by LV=, in order to maintain strong relationship with employees. Expectancy theory of
motivation is used by LV=, for motivating their workers to work happily and freely. This theory
states that employee's motivation is a better outcome of how much a person wants to reward. It
will help entire workforce in attainment of better results for an organisation (John and Taylor,
2016).
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Therefore, above mentioned all are effective practices of HR that help an organisation to
provide of learning and development opportunities to their employees. There are some benefits
of these practices to employees as well as organisation which can be determine as below:
HR Practices Advantages to workforce Advantage of LV=
Training
program
By getting training via job shadowing
HR practice, workers would be more
capable to increasing their learning
about the organisational practices in
effective manner. As it will help them
in improvement of their performance as
well as productivity level.
Job shadowing is a best practice that
help LV= by saving its time and cost
and also improving knowledge of their
workers about the business. As it
support an organisation in achievement
of long term goals and objectives
easily.
Review of
performance
This practice of HR is more beneficial
for employees because it will help them
in providing information about their
weaknesses or mistake. By getting
information about their mistakes, they
become able to improve their
weaknesses by getting feedback from
their seniors.
360 degree performance review
method used by LV=, for reviewing
employees performance. As it will help
an organisation in identification of
capable and knowledgable employees
easily. Knowledgable workers help an
organisation towards achievement of
set goals and objectives within
predetermined time period (Kim and
et. al. 2019).
Employee
benefits
Expectancy theory of motivation is
used by company for motivating its
workers. Motivation is important and
beneficial for employees because it
support them in completion of work
and activity within given time period.
Motivated employees are consider key
part of the business success and
growth. Motivated workers help LV=
by increasing their sales and brand
image in marketplace.
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