Human Resource Management (HRM) is an essential process that is focused on managing the employees of an organisation. It involves number of interrelated activities that is concentrated on performing tasks in attainable manner. Individuals are considered as an important resource of the business organisation thus, it is necessary to manage them in efficiently so that final outcomes could be achieved in set time period. The company included in this report is Talent Plus, which is a management consulting firm that operates in around 20 countries all over the world. It was established in 1989 and is internationally constituted, having around 500 clients of different places across the world. Report focuses on importance of employee relations and key elements of employment legislations that impact the decision making process of the company. Apart from it, there are certain benefits of different HRM practices that are enjoyed by both the employee and employer of the business organisation.
P1 Purpose and functions of HRM applicable to workforce planning
Workforce planning refers to managing employees of the company in an effective manner so that they could deliver their services to the best of their capacity. There are numbers of activities that have to be carried out in an appropriate manner so that ultimate objectives and aims could be accomplished. Talent Plus has proper HRM system that contains certain functions and purposes that are described as follows:
- Recruitment and selection function: This is the basic function of HRM in which HR manager has to perform recruitment process that involves attracting potential employees for the organisation. It is very much essential to attract skilful and knowledgeable workers so that they could align their personal objectives with company's aims and results in achieving ultimate results properly. Talent Plus has proper system of recruitment and selection procedure.
- Training and Development function: Training and development is imparted to enhance the existing skills and capability of the employees in order to increase their productivity level. Talent Plus has proper procedure of delivering training and development process for their employees that results in achieving final outcomes.
- Appraising the performance of employees: It involve appraising the performance of employees according to the work performed by them. HR plays a vital role in this as they have to frame number of appraisal activities applied to the employees. It includes several rewards, incentives procedure in order to increase the motivational level of each and every worker.
- Benefits and compensation process: Talent Plus has proper compensation system in order to increase the loyalty and motivation of employees which is very much necessary to reach final outputs of the company.
Purpose of HRM
- Encourage healthy culture: It is very much necessary to promote effective and efficient working culture so that every employee remains satisfied with the organisation culture. Talent Plus has conducive environment in order to utilise the complete talent of each and every employee of the company.
- Follow stringent government rules: Government have framed certain rules and regulations that must be comply by the company in order to carry out functions and legislations in accordance to it.
- Applying innovative resources: It is necessary to apply resources in the business activities so that whole work process could be performed in innovative process. Talent plus have apply this technique to increase the overall productivity of the company.
From the above discussion, it has been concluded that human resource manager of Talent Plus perform several purposes and functions in order to reach ultimate results.
P2 Strengths and weaknesses of different approaches to recruitment and selection
Recruitment and selection is a dynamic function of HRM in which potential employees are attracted towards the company. It is necessary to have proper system of hiring skilful individuals so that they can prove to be asset of the company. There are number of approaches through which talent plus can carry out this process. It involves internal and external sources that carry different characteristics. The brief discussion about this is given as follows:
External sources: In this, business organisation attracts application of employees from number of external sources. Hence, it enables them to invite new and fresh blood into the organisation system. Some of its ways include:
- College Recruitment: Various companies in modern time perform recruitment function through campus placement drive at number of colleges. This help them to hire suitable candidates in to their organisation at vacant positions (Board, 2017).
- Advertisement Process: Number of companies render attractive advertisements to deliver information regarding various job positions available, place, contact details so that interested individuals can apply accordingly.
The strengths and weaknesses of this source are described below:
· It assists company to attract new and fresh talents into business organisation at certain job position.
· Recruitment through external source enables the company to attract creative and innovative ideas.
· Attracting employees from outside source involve lot of expenditure of the company.
· Already existing employees feel bad as the company is hiring new members in the company.
Internal Sources: This source involve shifting employees within the business organisation from one job position to another. There are number of designations that is present single company and can be filled with the present employees of company. There are several ways that are described below:
- Transfers: It involve movement of candidates from one place to another and their job position, responsibilities and duties remain same.
- Employee Referrals: This source involve present employee making reference of their friends, relatives in order to fill vacant job position in the organisation.
- Promotion: It is a vertical movement of employee from their existing position to higher level. It involve change in roles, responsibilities as well as salary structure.
Strengths and weaknesses of this source are:
· Increase in motivational level among the employees as they feel important pat of the company (Wright and McMahan, 2011).
· Management have complete knowledge about each and every candidate hence, they could take proper decisions in respect to them.
· Biasness can pose a problem in front of management system in which, manager may favour some candidates of their choice.
· There are some positions that require hiring new and fresh candidates hence, recruitment through this process is not appropriate.
From the above discussion, it has been observed that there are several sources of recruitment therefore, Talent Plus can adopt different sources according to their need and requirements.
P3 Benefits of different HRM practices for both the employer and employee
HRM practices are conducted to carry out number of activities of different nature and types so that all it must be focused on gaining high results and outcomes. There are certain objectives of Talent Plus which is related to human resource management and have to be formulated in correct manner. There are several benefits of HRM practices that is enjoyed by employee and employer that are discussed below:
Benefits of HRM practices for Employer:
- Performance management: Every individual is different from each other in the level of performance performed by them. Therefore, it is necessary to manage the performance of the employees in effective manner. There are certain criteria and aspects that have to be set which gives the standard level so that actual performance could be measured and deviations can be identified to solve it in effective manner (Boxall and Purcell, 2011). Talent Plus have proper system of managing the performance of every individual so that best outcome could be received.
- Career management: Every employee wants to work in the organisation that delivers them chance of growth. Thus, it is very much important for the employers to perform career planing of their employees. Management of Talent plus have proper and effective career planning process so that every worker remain satisfied with them and work with high efficiency and productiveness.
Benefits of HRM practices for Employee
- Imparting training and Development: Talent Plus have structure training and development system that is imparted by the management. As there different types of employees that are present in business organisation and have different needs of training, therefore manager have to find out the requirement and than carry out the process.
- Building conducive employee relation: It is very much important to build effective and efficient relationship with each other so that whole work process can be carried out in better and productive manner. As there are different level of department that exist in talent Plus, which is necessary to coordinate their functions and actions.
- Resolving Conflicts among workers: Business organisation consists of people between them hence, there are number of situation which lead to the generation of conflicts among each other. HR manager of Talent Plus have to inculcate this function in their HRM practice so that employees could work with proper relation.
The above benefits are discussed that are enjoyed by employee and employer through number of HRM practices. It is indispensable to run all work activities in appropriate way so that final aims could be attained (Bryson, James and Keep, 2013).
P4 Effectiveness of several HRM practices
HRM practices are very important in company through which various kinds of procedures are carried out for completing requirements. It is necessary to apply effective as well as efficient HRM activities to gain desired outcomes in appropriate manner (McGraw, 2013). Talent have to conduct several processes to achieve required benefits. Some of them are given below:
- Performance appraisal: This function of HR activity involve reviewing and examining the performance of every employee and appraise them in accordance to their performance and productivity level. It is the responsibility of HR manager to draft proper reward system so that employees get motivated and they perform with best of their abilities and capacity. HR manager of Talent Plus have some set system of performance appraisal that is carried out by them in efficient way.
- Recruitment and selection: This is a basic activity that is performed by HR manager in which they have to attract potential and skilful employees in the company. There are number of recruitment sources which are available thus, it is necessary to evaluate them in accordance to their strengths and weaknesses so that effective decision can be made.
- Retention of employees: This HRM practice involve reducing the employee turnover in the company. In order to carry out this function, the HR manager carry out number of strategies and techniques that enable them to retain employees fro longer period of time (Cordner and Cordner, 2011). Talent Plus have proper control on their employees and always make efforts to make them happy and satisfied.
- Leadership development: Leaders are consider building block of the company as they play many roles of guide, mentor which leads his team in effective manner. Therefore, it is required that leaders must posses certain characteristics and features in order to attract his team members and manage them properly. Talent Plus always focuses on hiring effective leaders who have appropriate skills and knowledge to carry out the wor5k process in attainable way.
- Training and development: This function of HRM practice involve imparting training and development process to their employees in order to enhance skill and effectiveness of workers so that they could perform with more efficiency. There are different nature of workers possessing distinct level of skills and knowledge hence, their requirement of training also differs.
P5 Importance of employee relations in decision making
Employee relations refers to constructing the healthy relation between employees of the company so that workers could perform as per their best efforts. Management of Talent Plus have to make proper arrangements for organising the human resources in effective manner. There are some importance of employee relations in decision making process which is as follows:
- Generation of innovative ideas and thoughts: Employee relations results in generating innovative actions so that superior allow their employees to share their important point of views that is required in decision making process. Talent Plus have system in which staff members are allowed to share their innovative ideas in decision making process. Business have to operate in dynamic environment hence, it is necessary to adopt several innovative and creative process in their working process (Ekwoaba, Ikeije and Ufoma, 2015).
- Maintaining Conducive environment in organisation system: Healthy relationship between employees results in construction of working environment that is free from conflicts (Keep and James, 2010). This enable workers to perform at best of their efforts and efficiency. Therefore, continuous efforts must be maintained to improve the working conditions of whole business organisation.
- Handling overall cost of Production: There are number of conditions and areas which require lot of expenditure and may result in increase of overall cost. Hence, proper employee relations between employee and employer will result in maintaining cost of production of the company. This is required to utilise all resources in optimum manner as well as wastage could be reduced at significant level.
From the above discussion, it has been concluded that healthy relationship must be maintained among workers so that final work could be performed.
P6 Key elements of employment legislations impacts on decision making
There are certain rules and regulations that are formulated by the government authority that has to be comply by the business organisation in their system. Thus, management have to render full attention in following set of rules and norms in respect to it so that proper decisions could be taken place in effective manner. Similarly, Talent Plus take measures and actions to carry out all work process in efficient way. Some of the legislations related to employee of the organisation are illustrated below:
- Equal Pay Act: There are several companies that do not have proper payment structure hence, government have taken steps to remove the problem of low salary or compensation so that employees do not get discriminated in the company. Talent plus have proper system of payment to the employees as per their job position and level.
- Employment Rights Act: This right safeguards the interests on every worker and employee so that they do not face any problem while working. This act involve number of aspects in relation to incentives, compensation system and many other (Garner, 2012).
- National Minimum wage Act: According to this act, every company is required to deliver minimum salary and wages to their employees as per the set criteria by some legal authority. As it is the responsibility of the management to comply with all rules and regulations in relation to minimum wage act.
- Sex Discrimination Act: according to this act, no worker could be discriminated on the basis of gender. Management must provide equal rights and opportunities to every staff member that is working in business organisation. Talent Plus do not discriminate among their employees hence, proper system of is developed that supply equal opportunities.
From the above discussion, it has been concluded that there are number of employment legislations that have been formulated by legal authority (Guest, 2011). Thus, it is necessary for Talent Plus to follow all acts and norms involved in employment legislations so that proper working process could be conducted.
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P7 Illustrate the application of HRM practices
Some application of HRM practices that is carried out in effective way by the management system is described below:
There is a vacancy of financial manager in TALENT PLUS, which is a consultancy firm delivering high class human resource services. They offer number of tools that enable several candidates to identify their aptitude and apply to suitable job opportunity. There is a vacancy of financial manager and suitable candidates who are interested can apply. Requirements for the same is discussed below:
· Candidates must be between 20 to 30 years
· Must be a experience holder of at least 3 years
· Good communication skills
· Must be well informed about new developments in finance sector
· Must posses ability to apply several financial tools and techniques
· salary offered: 2000-4500 pounds per month as per the experience
Applicants who are interested for this job position and fulfilling all criteria can upload their resume on company's email id: firstname.lastname@example.org.
Last date for submission of the resume is 6 June, 2018.
There are number of sources through which company can supply information related to some vacant position to the candidates that are present. This function is carried out by HR department of the company in efficient way so that potential and eligible employees could be selected (Jiang and et. al., 2012).
Job Specification: It supply the complete information about the job position that is available in the business organisation. Thus, it become clear for the candidates about the requirements, qualification and other attributes.
Job Specification of Financial Manager
Must be from finance background.
Between 4-6 years.
Effectual communication skills and calculative efficiency.
Must be able to manage all funds of the company is accurate manner.
Proper arrangements of books of accounts.
Must have creative and innovative abilities to carry out the financial work process.
From the above prepared report, it has been concluded that employees are consider important resource of the business organisation. HR manager plays a important role in human resource department as they have to carry put several duties and responsibilities for managing workers in effective way. The report focuses upon several HRM practices that has to be implemented in organisation in order to conduct various tasks and work process appropriately so that ultimate aims of the company could be achieved in set time period. There are number of employment legislations that have to be included in the company to perform employee management properly.
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