An eassy on HRM in John Lewis (UK Department Store) - employee owned Essay

An eassy on HRM in John Lewis (UK Department Store) - employee owned company - Essay Example Ultimately, whereas the EOB model promotes sustainable operational and financial profitability, its application to other contexts is limited to small-scale businesses since its governance model may come under pressure as the firm expands. Introduction This paper is a study of the general business and HRM of John Lewis Partnership, an employee-owned company and evaluates the various mechanisms of HRM policy and application of JLP in the context of the 4 key functions of HR which include; resourcing the organization, human resource development (HRD), employment relations, in addition to, performance and subsequent remuneration. Additionally, it also considers both the vertical and horizontal integration of JLP’s human resource component with its operations, the benefits and challenges of employee-owned business model, as well as the extent to which it can be applied in other contexts. Overall JLP’s business and HR strategy The John Lewis Partnership’s overall busin ess strategy is partners’ approach; the JLP’s approach to business entails prioritizing its clients and partner’s happiness and welfare which is achieved by placing their interests at the core of its operations (Aston, 2013). In this respect, the wellness of partners is of key importance to the business strategy of the John Lewis Partnership since the partnership believes that it yields many positive gains for the business (The John Lewis Partnership, 2013), which dedicates itself to serving customers with flair and fairness. The John Lewis Partnership’s overall Human Resource strategy, on the other hand, is employee ownership, which top management at JLP believes has a massive positive influence on the wellbeing of partners; in this regard, the John Lewis Partnership takes investing in people and seeing them as the core of the business as a fundamental Human Resource strategy. Employee ownership is built on values such as strong communication, from the b ottom upwards, and thorough consultation, both of which lead to inclusiveness and engagement of the employees in the day-to-day decision-making process at John Lewis Partnership effectively; employee ownership has a multi-plier effect on business gains since employee participation motivates high performance. JLP’s HR policy and practice The human resource is the primary source of competitive advantage to any organization today; all firms can potentially boost both their operational and financial performance through well-structured high performance human resource practices, thus the need to attract, recruit, and retain the best talents. Strategic HR management practices such as recruitment and selection, training and development, as well as performance management are fundamental aspects of John Lewis Partnership’s Human Resource policy and practice. The JLP recruits its human resources through selection and engages in effective talent management through training and dev elopment programs, as per the needs of the partnership. The task of resource recruitment goes beyond merely selecting the best people for the job; organizations must invest in human resources, which are not only valuable and