Musgrave Retail Partners Ireland
Human Resource Management
A competitive advantage
Jennifer O’ Hagan
Table of Contents
How can good HRM practice become a source of competitive advantage for organisations in the retail sector? 3
Main functions of a HRM system: 4
Key functions of a HRM system: 6
Learning and development and performance management: 6
Staff appraisals/review systems: 7
Hertzberg Two factor theory 8
Motivational factors 8
Hygeine factors 8
HRM eveloution 9
Why is HRM such an important tool in organisations today? 10
How can good HRM practice become a source of competitive ...view middle of the document...
HRM was also defined by Storey as:
‘Human resource management is a distinctive approach to employment management which seeks to achieve competitive advantage through the strategic development of a highly committed and capable workforce through an array of cultural, structural and personnel techniques.’ (Storey, 1992)
In this definition Storey is in general consensus with Bratton and Golds definition, however his mention of ‘the strategic development of a highly commited and capable workforce’ is in reference to one of the main functions of HRM, human resource planning whereby staff are selected very much on academic grounds. Employers want to have the best people working in their organisation, so the HR team would be focused on recruiting graduates with 1st class honours degrees. The company’s reputation is very important here as the graduates must see their efforts will be rewarded with incentives such as attractive salaries, responsibilities within the organisation and development of employees leading to eventual career progression. In return the business has the advantage of having the best people working for their business and can justify paying larger salaries because they can in turn charge their clients more because of the level of education their employees attain.
Main functions of a HRM system:
The main functions of HRM within an organisation are:
* Human resource planning
Identifying staffing needs of the business while balancing costs against these needs to see what is sustainable.
* Recruitment and selection
The right people for the right jobs.
* Learning, development and talent management
Training staff to the best of their capabilities while communicating what is expected of them to represent the store within management specification.
* Performance management
Give feedback and support to staff on a continual basis. Providing employees with guidance, knowledge sharing and career counciling.
* Reward management
Rewarding staff efforts when positive results are being acheived.
* Health, safety and welfare
Ensuring policies and procedures are adhered to by all members of staff.
* Employee relations
Communicating with staff on a continual basis and also maintaining an approachable, ‘open door’ relationship
* Legislative compliance
Ensuring any exsisting and updated policies are communicated and adhered to by all staff
For the HRM system to be effective, it is imperative that these functions are implemented and adhered to by management and that they have been clearly communicated to employees at all levels. In all organisations, a culture ‘the way things are done around here’ is present. Once a culture is in place it is very difficult for employers to implement change of any procedures currently in place in the organisation and employees usually have a negative apprehension of the effects of change. Therefore it is important that employers have a good working relationship with the...