Task 1: Importance of HRM in organizations.
Human Capital Value.
Training and Development.
Corporate Image and Steadfast principles.
Task 2: HR policies in the recruitment and selection process.
Employment Legislation and Standards.
Health & Safety policies.
Equality and Diversity Policy.
Policies on Leaves of Absence.
Policies on Human Rights.
Task 3: Standard Process of Recruitment and Selection.
Task 4: Importance of Training and Development to Organizational success and business performance
Task 5: How motivation tools increase job performance resulting in job satisfaction.
Basic Principles of Motivating Employees.
Importance of motivation to increase job performance resulting in job satisfaction.
Human resource management is an approach for the management and decision-makers of a company to manage activities in the interest of an organization’s business success (Boxall, 1996). According to (Storey, 1995) HRM is a strategic way for a firm to deal with its employees who contribute to the achievement of its aims and objectives as well as the success of the business.
The study of this report has found out several issues regarding human resources and their management. The first chapter explains why actually HRM is essential for a particular organization. The second chapter describes the HR policies in the recruitment and selection process. The next section discusses the standard process of recruitment and selection and the importance of each element in recruitment and selection. The fourth section identifies the significance of training and development to organizational success. And, finally, the report gives an idea of different motivational tools that are important for job performance and eventfully for job satisfaction.
Task 1: Importance of HRM in organizations
Human resources play an important role in developing a company’s strategy and handling the employee-related activities of a business organization. The following diagram shows how HR functions are related to the organization’s strategies:
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The key importance of HRM is explained as follows:
Human Capital Value
Having in-house human resources activities in an organization is significant. An in-house human resources employee or a human resources expert on employees can improve the understanding of how essential human capital is to the organization’s bottom line. For small businesses organization, in particular, human capital is complicated because many small companies have workers who perform cross-functional duties. When a single person leaves in a small organization, a huge gap is created to fill with a potential threat to companies’ productivity and performance means to profitability.
HRM reduces excessive spending by developing methods for controlling employee management costs. It negotiates better rates for benefits like health care coverage. Moreover, it makes sure a realistic and competitive wage/ salary setting based on analyzing employment trends, labor market, and salary based on job functions. The HR function is mainly helpful for small companies because of their limited budget.
Workplace conflict or conflict among employees is a crucial issue because of multi-diverse personalities, work styles, backgrounds as well as levels of skills and experience among workforces. HRM deals with employee relations matters to identify and resolve conflict among employees and restore positive working relationships.
Training and Development
HRM deals with needs assessments for the organization’s present employees to identify the required skills training and staff development for improving skills and qualifications. Identifying training needs for the current employee can benefit the organizations in the starting and growth stage reducing a huge amount of cost because hiring additional staff or more qualified candidates are more expensive than training the existing ones. Furthermore, this strategy is helpful to reduce staff turnover and improve employee retention………………….