Answer To: Assessment Brief *This document is for CU Group students for their own use in completing their...
Shubham answered on Apr 28 2021
NAME OF THE MODULE: RESOURCE MANAGEMENT
MODULE CODE: 504MANSC/504MANEL
ASSESSMENT NUMBER: 2
TITLE OF THE ASSESSMENT: RESOURCE PLAN
WORD COUNT: 3031
Table of Contents
Introduction 3
Management of HRM Development 3
Recruitment and Selection Process 4
Induction 5
Training 5
Performance Management 6
Resource Planning and Monitoring 7
Financial viability 7
Forecasting 8
Budgeting 9
Leasing 9
Skill Inventory (Stock Control) 9
Conclusion 10
References 12
Introduction
Human resource management is an overall managerial concept, which deals in detail with the management of resources essential for an organisation to achieve its complete strategic goals as a whole. It is a practice of managing people to achieve improved performance every time with their efforts (Noe et al. 2017). For example, if a company hires people into a business, they are looking for people who fit the company culture, as they will be happier, stay longer and be more productive than people who will not fit into the company culture.
Another example is engagement. Engaged employees are more productive, deliver higher quality work and make customers happier. This means that if we can find ways to make employees more engaged, we help the company. As mentioned by Connelly et al. (2021), human resource management included lists of functions, which are essential for its success. They include management development, recruitment and selection, induction, training and development. Human resource planning and monitoring, compensation plans, performance management, welfare and health and financial viability.
Human Resource Management (HRM) involves management functions such as planning, organising, directing and controlling. It involves procurement, development, maintenance of human resource, it helps to achieve individual, organisational and social objectives and human resource management is a multidisciplinary subject. It includes the study of management, psychology, communication, economics and sociology (Analoui, 2017). It involves team spirit and teamwork. It is a continuous process.
Management of HRM Development
Management development is a much-required dynamic concept, which help managers working at different levels in the organisation to learn, grow, improve and implement the changed ability, knowledge and skills to their performance. It is important because their performance will take the organisations to new heights. In other words, we can say that it a planned process to bring desired behavioural change in managers through learning and growth. Its need can be identified from social obligation because organisation is a part of society.
It needs to bridge the gap between societal thinking and company’s expectations. Management development is needed to prepare capable and effective managers. Jakobsson (2018) is of the opinion that due to the effect of globalisation it is important for the companies to have excellent workers for production of excellent product at reasonable cost. Line managers may lack adequate technological skills and ability to maintain public relations, which can be dealt with management development. Change in economic policy will result in a new culture and a new environment, which would require making modifications in the management practices, which can be communicated through development programs.
To regularise the use of latest technologies at workplace, mangers need to be given proper training to counter probable problems. Management development programme should be of much use for smooth, effective and uninterrupted functioning of business activities managers should have leadership qualities, proper knowledge and skill in decision-making, employee involvement as well as empowerment (Boon, Den Hartog and Lepak, 2019).
Recruitment and Selection Process
It is referred to locating, sourcing and encouraging potential talent with right qualifications and skill set to be fit for the job role in the organisation. The process is quite simple but tedious to carry out as detailed screening requires lot of time. There is no fixed recruitment and selection process but it varies from organisation to organisation. An effective recruitment and selection process starts in a following manner.
i. Vacancies are identified: The present and future needs related to human resource are identified to create a plan for recruitment.
ii. The required vacancies are undergone a detailed documentation related to specification and preparation of the job.
iii. The advertisement for the job is flashed at various platforms to increase the visibility among prospective applicants. These platforms can be Glassdoor, LinkedIn, Facebook, online job search portals such as monster.com, newspaper and other media
iv. After receiving applications from these sources the resumes are shortlisted and screened for further process.
v. They candidates are called for interviews through interview call letter sent to them in person or email.
vi. The interview process may be followed by written test, personality tests and group discussion as required for the profile.
vii. The interviews, which can direct, non-direct, behavioural or situational are screen and analysed to confirm the right candidate
viii. Once the candidate is selected, various reference and background check are conducted to ensure the authenticity of the person
ix. Finally, the appointment letter is issued mentioning the joining details to the candidate.
Induction
As per the opinions of Poon and Law (2020), it is a process, in which new recruit is introduced to the organisation, the new job role, which he is going to work on, policies and procedures of the company and the complete settlement so that adjustment with the working environment can be supported. It is done in order to convert recruit into valuable member of the staff. This contributes in efficient working in a faster manner.
There are three phases, in which induction programme is conducted:
(i) Pre-induction: This phase occurs before a new employee starts work in the organisation.
(ii) Induction: This phase relates to actual transition in the workplace.
(iii) Post-induction: This phase stress on the adjustment an employee is undergoing once the work related to new job role started.
Effective induction policy consists of
(i) Purpose: To make employees feel comfortable at their new home with new roles.
(ii) Application: This policy is applicable to recruits who are promoted, deployed, transferred or demoted.
(iii) Objective of Induction: To reduce the fear of insecurity, absenteeism, increase participation from employees, ensure employee retention and to reduce poor work performance
(iv) Responsibility: There is an overall institution induction, the departmental induction and the Teaching and Learning Centre induction (TLC)
(v) Induction Review: This is done by HRM department after 3 months of employment.
Training
It is one of the essential step in human resource development, which provides required skills to the employees so that they complete their job...